Otis Worldwide Corporation Financial Statements — OTIS Stock

Income Statement	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Sales/Revenue/Turnover	12,323	12,915	13,118	12,756	14,298	13,685	14,209	14,261
+ Sales & Services Revenue	12,323	12,915	13,118	12,756	14,298	13,685	14,209	14,261
- Cost of Revenue	8,621	9,189	9,292	8,977	10,105	9,765	10,016	10,004
+ Cost of Goods & Services	8,621	9,189	9,292	8,977	10,105	9,765	10,016	10,004
Gross Profit	3,702	3,726	3,826	3,779	4,193	3,920	4,193	4,257
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	1,786	1,891	2,012	2,140	2,085	1,849	1,946	2,206
+ Selling, General & Admin	1,648	1,735	1,810	1,924	1,948	1,725	1,823	1,818
+ Research & Development	175	181	163	152	159	150	144	152
+ Other Operating Expense	-37	-25	39	64	-22	-26	-21	236
Operating Income (Loss)	1,916	1,835	1,814	1,639	2,108	2,071	2,247	2,051
- Non-Operating (Income) Loss	-41	-58	-47	128	147	183	216	12
+ Interest Expense, Net	-21	-14	-14	- -	- -	- -	- -	- -
+ Interest Expense	40	37	39	- -	- -	- -	- -	- -
- Interest Income	61	51	53	- -	- -	- -	- -	- -
+ Other Non-Op (Income) Loss	-20	-44	-33	128	147	183	216	12
Pretax Income	1,957	1,893	1,861	1,511	1,961	1,888	2,031	2,039
- Income Tax Expense (Benefit)	1,148	683	594	455	541	519	533	305
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	809	1,210	1,267	1,056	1,420	1,369	1,498	1,734
- Net Extraordinary Losses (Gains)	346	322	302	300	348	232	184	178
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	346	322	302	300	348	232	184	178
Income (Loss) Incl. MI	463	888	965	756	1,072	1,137	1,314	1,556
- Minority Interest	-173	-161	-151	-150	-174	-116	-92	-89
Net Income, GAAP	636	1,049	1,116	906	1,246	1,253	1,406	1,645
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	636	1,049	1,116	906	1,246	1,253	1,406	1,645
Basic Weighted Avg Shares	433	433	433	433	428	420	411	402
Basic EPS, GAAP	1.47	2.42	2.58	2.09	2.91	2.98	3.42	4.1
Basic EPS from Cont Ops	1.87	2.79	2.93	2.44	3.32	3.26	3.64	4.32
Diluted Weighted Avg Shares	436	433	433	435	431	423	415	404
Diluted EPS, GAAP	1.46	2.42	2.58	2.08	2.89	2.96	3.39	4.07
Diluted EPS from Cont Ops	1.85	2.79	2.93	2.43	3.29	3.24	3.61	4.29
EBITDA	2,093	2,025	1,994	1,830	2,311	2,262	2,440	2,232
EBITDA Margin (%)	16.98	15.68	15.2	14.35	16.16	16.53	17.17	15.65
EBITA	1,916	1,835	1,814	1,639	2,108	2,071	2,247	2,051
EBIT	1,916	1,835	1,814	1,639	2,108	2,071	2,247	2,051
Gross Margin (%)	30.04	28.85	29.17	29.63	29.33	28.64	29.51	29.85
Operating Margin (%)	15.55	14.21	13.83	12.85	14.74	15.13	15.81	14.38
Profit Margin (%)	5.16	8.12	8.51	7.1	8.71	9.16	9.9	11.53
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	- -	- -	- -	0.6	0.92	1.11	1.31	1.51
Depreciation Expense	177	190	180	191	203	191	193	181

Balance Sheet	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
Total Current Assets	- -	5,612	5,658	6,493	8,261	6,143	6,400	7,670
+ Cash, Cash Equivalents & STI	- -	1,329	1,446	1,782	1,565	1,189	1,274	2,300
+ Cash & Cash Equivalents	- -	1,329	1,446	1,782	1,565	1,189	1,274	2,300
+ ST Investments	- -	- -	- -	- -	- -	- -	- -	- -
+ Accounts & Notes Receiv	- -	3,377	3,390	3,606	3,782	4,021	4,255	4,134
+ Accounts Receivable, Net	- -	2,605	2,944	2,987	3,117	3,231	3,390	3,285
+ Notes Receivable, Net	- -	- -	- -	104	109	84	63	55
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	- -	772	446	515	556	706	802	794
+ Inventories	- -	637	571	659	622	617	612	557
+ Raw Materials	- -	128	103	113	140	166	154	134
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	509	468	546	482	451	458	423
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -
+ Other ST Assets	- -	269	251	446	2,292	316	259	679
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	- -	3,523	4,029	4,217	4,018	3,676	3,717	3,646
+ Property, Plant & Equip, Net	- -	678	1,256	1,316	1,300	1,168	1,143	1,123
+ Property, Plant & Equip	- -	1,761	2,338	2,513	2,456	2,319	2,375	2,315
- Accumulated Depreciation	- -	1,083	1,082	1,197	1,156	1,151	1,232	1,192
+ LT Investments & Receivables	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Investments	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	- -	2,845	2,773	2,901	2,718	2,508	2,574	2,523
+ Total Intangible Assets	- -	2,257	2,137	2,257	2,086	1,936	1,923	1,859
+ Goodwill	- -	1,688	1,647	1,773	1,667	1,567	1,588	1,548
+ Other Intangible Assets	- -	569	490	484	419	369	335	311
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	- -	588	636	644	632	572	651	664
Total Assets	- -	9,135	9,687	10,710	12,279	9,819	10,117	11,316
+ Payables & Accruals	- -	2,950	2,930	2,516	2,619	2,685	2,978	3,047
+ Accounts Payable	- -	1,351	1,331	1,453	1,556	1,717	1,878	1,879
+ Accrued Taxes	- -	268	273	284	239	215	257	198
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	- -	1,331	1,326	779	824	753	843	970
+ ST Debt	- -	27	174	868	205	797	149	1,471
+ ST Borrowings	- -	27	34	701	24	670	32	1,351
+ ST Finance Leases	- -	- -	140	167	181	127	117	120
+ Other ST Liabilities	- -	2,326	2,270	3,289	3,423	3,361	3,352	3,231
+ Deferred Revenue	- -	2,326	2,270	2,542	2,674	2,662	2,696	2,598
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	- -	- -	- -	747	749	699	656	633
Total Current Liabilities	- -	5,303	5,374	6,673	6,247	6,843	6,479	7,749
+ LT Debt	- -	- -	391	5,629	7,585	6,413	7,158	7,271
+ LT Borrowings	- -	- -	5	5,262	7,249	6,098	6,866	6,973
+ LT Finance Leases	- -	- -	386	367	336	315	292	298
+ Other LT Liabilities	- -	1,617	1,596	1,609	1,431	1,227	1,200	1,024
+ Accrued Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Pension Liabilities	- -	527	590	654	558	392	462	434
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	- -	1,090	1,006	955	873	835	738	590
Total Noncurrent Liabilities	- -	1,617	1,987	7,238	9,016	7,640	8,358	8,295
Total Liabilities	- -	6,920	7,361	13,911	15,263	14,483	14,837	16,044
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	- -	2,277	- -	59	119	162	213	265
+ Common Stock	- -	2,277	- -	59	119	162	213	265
+ Additional Paid in Capital	- -	- -	- -	- -	- -	- -	- -	- -
- Treasury Stock	- -	- -	- -	- -	725	1,575	2,382	3,390
+ Retained Earnings	- -	- -	- -	-3,106	-2,256	-2,865	-2,005	-978
+ Other Equity	- -	-708	-758	-815	-763	-592	-750	-745
Equity Before Minority Interest	- -	1,569	1,700	-3,862	-3,625	-4,870	-4,924	-4,848
+ Minority/Non Controlling Interest	- -	646	626	661	641	206	204	120
Total Equity	- -	2,215	2,326	-3,201	-2,984	-4,664	-4,720	-4,728
Total Liabilities & Equity	- -	9,135	9,687	10,710	12,279	9,819	10,117	11,316
Shares Outstanding	- -	433	433	433	425	415	407	398
Capital Leases - Total	- -	- -	526	534	517	442	409	418
Net Debt	- -	-1,302	-1,407	4,181	5,708	5,579	5,624	6,024
Net Debt to Equity	- -	-58.78	-60.49	-130.62	-191.29	-119.62	-119.15	-127.41
Tangible Common Equity Ratio	- -	-0.61	2.5	-64.57	-49.74	-83.72	-81.07	-69.65
Current Ratio	- -	1.06	1.05	0.97	1.32	0.9	0.99	0.99
Cash Conversion Cycle	- -	24.37	47.87	53.81	46.5	46.61	41.9	37.83
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -

Cash Flow Statement	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y
+ Net Income	809	1,210	1,267	1,056	1,420	1,369	1,498	1,734
+ Depreciation & Amortization	177	190	180	191	203	191	193	181
+ Non-Cash Items	458	158	54	156	-33	96	-33	-58
+ Stock-Based Compensation	29	38	37	63	65	67	64	73
+ Deferred Income Taxes	472	127	-8	-51	-92	-16	-61	-31
+ Asset Impairment Charge	- -	- -	26	71	- -	- -	- -	- -
+ Other Non-Cash Adj	-43	-7	-1	73	-6	45	-36	-100
+ Chg in Non-Cash Work Cap	6	-8	-32	77	160	-96	-31	-294
+ (Inc) Dec in Accts Receiv	-13	-196	-191	-163	-152	-309	-239	-68
+ (Inc) Dec in Inventories	-109	24	60	-76	14	-65	15	26
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	119	166	-28	6	202	188	185	142
+ Inc (Dec) in Other	9	-2	127	310	96	90	8	-394
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	1,450	1,550	1,469	1,480	1,750	1,560	1,627	1,563
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed Prod Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Change in LT Investment	- -	3	-5	-120	113	- -	- -	- -
+ Dec in LT Investment	- -	3	- -	- -	113	- -	- -	- -
+ Inc in LT Investment	- -	- -	-5	-120	- -	- -	- -	- -
+ Net Cash From Acq & Div	-53	-50	-47	-53	-80	15	-36	-87
+ Cash from Divestitures	- -	- -	- -	- -	- -	61	- -	- -
+ Cash for Acq of Subs	-53	-50	-47	-53	-80	-46	-36	-87
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	-133	-154	-151	-180	-122	-48	-147	-77
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-186	-201	-203	-353	-89	-33	-183	-164
+ Dividends Paid	- -	- -	- -	-260	-393	-465	-539	-606
+ Net Cash From Debt	- -	- -	- -	5,300	1,679	-500	213	1,497
+ Cash From Debt	- -	- -	- -	6,300	2,182	- -	747	1,497
+ Repayments of Debt	- -	- -	- -	-1,000	-503	-500	-534	- -
+ Cash (Repurchase) of Equity	- -	- -	- -	- -	-725	-850	-800	-1,007
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	- -	-725	-850	-800	-1,007
+ Other Financing Activities	-1,404	-1,497	-1,133	-5,884	-503	-1,837	-224	-193
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	-1,404	-1,497	-1,133	-844	58	-3,652	-1,350	-309
Effect of Foreign Exchange Rates	98	-77	-20	59	-43	-157	-9	-49
Net Changes in Cash	-140	-148	133	283	1,719	-2,125	94	1,090
Capital Expenditures	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA	2,093	2,025	1,994	1,830	2,311	2,262	2,440	2,232
EBITDA Margin (%)	16.98	15.68	15.2	14.35	16.16	16.53	17.17	15.65
Net Cash Paid for Acquisitions	53	50	47	53	80	-15	36	87
Free Cash Flow	1,450	1,550	1,469	1,480	1,750	1,560	1,627	1,563
Free Cash Flow to Firm	1,467	1,574	1,496	1,480	1,750	1,560	1,627	1,563
Free Cash Flow to Equity	- -	1,550	1,469	6,780	3,429	1,060	1,840	3,060
Free Cash Flow per Basic Share	3.35	3.58	3.39	3.42	4.09	3.71	3.95	3.89
Price/Free Cash Flow	- -	- -	- -	18.73	20.5	20.58	22.44	23.96
Cash Flow to Net Income	2.28	1.48	1.32	1.63	1.4	1.25	1.16	0.95

Otis Worldwide Corporation

Income Statement

Balance Sheet

Cash Flow Statement