Otis Worldwide (WBO:OTIS) Effective Interest Rate on Debt % : 2.44% (As of Mar. 2024)

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What is Otis Worldwide Effective Interest Rate on Debt %?

Effective Interest Rate on Debt % is the usage rate that a borrower actually pays on a debt. It is calculated as the positive value of Interest Expense divided by its average total debt. Total debt equals to Long-Term Debt & Capital Lease Obligation plus Short-Term Debt & Capital Lease Obligation. Otis Worldwide's annualized positive value of Interest Expense for the quarter that ended in Mar. 2024 was €162 Mil. Otis Worldwide's average total debt for the quarter that ended in Mar. 2024 was €6,646 Mil. Therefore, Otis Worldwide's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 was 2.44%.

Otis Worldwide Effective Interest Rate on Debt % Historical Data

The historical data trend for Otis Worldwide's Effective Interest Rate on Debt % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Otis Worldwide Effective Interest Rate on Debt % Chart

Otis Worldwide Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Effective Interest Rate on Debt %

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13.19

3.43

1.97

2.04

Otis Worldwide Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Effective Interest Rate on Debt %	Get a 7-Day Free Trial															1.84	2.06	2.11	2.16	2.44

Competitive Comparison of Otis Worldwide's Effective Interest Rate on Debt %

For the Specialty Industrial Machinery subindustry, Otis Worldwide's Effective Interest Rate on Debt %, along with its competitors' market caps and Effective Interest Rate on Debt % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Otis Worldwide's Effective Interest Rate on Debt % Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Otis Worldwide's Effective Interest Rate on Debt % distribution charts can be found below:

* The bar in red indicates where Otis Worldwide's Effective Interest Rate on Debt % falls into.

Otis Worldwide Effective Interest Rate on Debt % Calculation

Otis Worldwide's annualized Effective Interest Rate on Debt % for the fiscal year that ended in Dec. 2023 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (A: Dec. 2022 )	+	Total Debt (A: Dec. 2023 ))	/ count )
=	-1 * -137.55	/	( (6806.24	+	6700.519)	/ 2 )
=	-1 * -137.55	/	6753.3795
=	2.04 %

where

	Total Debt (A: Dec. 2022 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6053.872	+	752.368
=	6806.24

	Total Debt (A: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6563.886	+	136.633
=	6700.519

Otis Worldwide's annualized Effective Interest Rate on Debt % for the quarter that ended in Mar. 2024 is calculated as

	Effective Interest Rate on Debt %
=	-1 * Interest Expense	/	( (Total Debt (Q: Dec. 2023 )	+	Total Debt (Q: Mar. 2024 ))	/ count )
=	-1 * -161.92	/	( (6700.519	+	6591.8)	/ 2 )
=	-1 * -161.92	/	6646.1595
=	2.44 %

where

	Total Debt (Q: Dec. 2023 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6563.886	+	136.633
=	6700.519

	Total Debt (Q: Mar. 2024 )
=	Long-Term Debt & Capital Lease Obligation	+	Short-Term Debt & Capital Lease Obligation
=	6559.6	+	32.2
=	6591.8

In the calculation of annual Effective Interest Rate on Debt %, the Interest Expense of the last fiscal year and the average total debt over the fiscal year are used. In calculating the quarterly data, the Interest Expense data used here is four times the quarterly (Mar. 2024) interest expense data. Effective Interest Rate on Debt % is displayed in the 30-year financial page.

Otis Worldwide (WBO:OTIS) Effective Interest Rate on Debt % Explanation

Effective Interest Rate on Debt % measures the usage rate that a borrower actually pays on a debt.

Otis Worldwide Effective Interest Rate on Debt % Related Terms

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Otis Worldwide (WBO:OTIS) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Otis Worldwide Corp (WBO:OTIS) » Definitions » Effective Interest Rate on Debt %

Comparable Companies

Traded in Other Exchanges

OTIS:USA OTIS:Mexico 4PG:Germany O1TI34:Brazil

Address

One Carrier Place, Farmington, CT, USA, 06032

Website

https://www.otis.com

Otis is the largest global elevator and escalator supplier by revenue with around 18% global market share. In 1854 Otis' founder and namesake Elisha Graves Otis, invented a safety mechanism that prevented elevators from falling if the hoisting cable failed. The company's product and service lifecycle begins with installations of elevator units in new buildings, later selling maintenance services on the units, and eventually replacement of the units after the average 15- to 20-year useful life of an elevator. As the largest global OEM, Otis has amassed an installed base under service that exceeds 2 million elevators. Its business model is similar to that of its closest competitors Kone, Schindler, and TK Elevator.