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Otis: elevator service cash flow has to carry a leveraged balance sheet

OTISResearch reportPosted by Goglides ResearchMay 20, 2026
NYSEOTISCoverage BootstrapOtis Worldwide Corporation

Thesis summary

Otis reported FY2025 revenue of $14.4 billion and 2026 Q1 revenue of $3.6 billion. The thesis depends on service mix, new-equipment cycles, China exposure, pricing, debt and negative equity.

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Otis reported FY2025 revenue of $14.4 billion and 2026 Q1 revenue of $3.6 billion. The thesis depends on service mix, new-equipment cycles, China exposure, pricing, debt and negative equity.

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