Otis Worldwide Corp
Statements
Segments
US companies must disclose in their mandatory reports how revenue breaks down across business segments, regions and product lines. We read that breakdown for you straight from the annual and quarterly reports (10-K and 10-Q) of Otis Worldwide Corp (OTIS). It shows which part of the business is growing — and which one is holding it back.
Revenue by business segment
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Service | $7.39B 57.9% | $7.87B 55.0% · +6.6% | $7.80B 57.4% · -0.9% | $8.40B 59.1% · +7.6% | $8.89B 62.4% · +5.9% | $9.44B 65.4% · +6.2% |
| New Equipment | $5.37B 42.1% | $6.43B 45.0% · +19.7% | $5.78B 42.6% · -10.1% | $5.81B 40.9% · +0.6% | $5.37B 37.6% · -7.7% | $4.99B 34.6% · -7.0% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Service | $1.61B 21.8% | $1.76B 22.4% | $1.83B 23.5% | $2.01B 24.0% | $2.19B 24.6% | $2.37B 25.1% |
| New Equipment | $318.0M 5.9% | $459.0M 7.1% | $381.0M 6.6% | $381.0M 6.6% | $329.0M 6.1% | $240.0M 4.8% |
Large figure: segment operating income. Below it the margin, that is operating income measured against the revenue of the same segment.
Revenue by region
| Segment | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Other | $7.16B 56.1% | $7.72B 54.0% · +7.9% | $7.28B 53.2% · -5.7% | $7.74B 54.4% · +6.3% | $8.10B 56.8% · +4.8% | $8.59B 59.5% · +6.0% |
| United States Operations | $3.46B 27.1% | $3.70B 25.9% · +6.9% | $3.83B 28.0% · +3.6% | $4.03B 28.4% · +5.1% | $4.24B 29.7% · +5.2% | $4.19B 29.0% · -1.1% |
| China | $2.14B 16.7% | $2.88B 20.1% · +34.8% | $2.57B 18.8% · -10.6% | $2.44B 17.2% · -5.0% | $1.92B 13.5% · -21.5% | $1.65B 11.4% · -14.0% |
Large figure: segment revenue. Below it the share of revenue in that period and the change against the prior year.
Segment and region names are the ones the company itself uses and are shown as reported. Change and share refer to revenue.
Data as of: August 7, 2026 · Source: fundamental data & SEC filings (annual and quarterly reports, 10-K/10-Q) · Segment figures: SEC EDGAR (10-K/10-Q reports)
Note: pure fact-based analysis, not investment advice and not a solicitation to buy or sell. All figures without guarantee.