Otis Worldwide (Otis Worldwide) Gross Profit : $4,193 Mil (TTM As of Dec. 2023)

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What is Otis Worldwide Gross Profit?

Otis Worldwide's gross profit for the three months ended in Dec. 2023 was $1,068 Mil. Otis Worldwide's gross profit for the trailing twelve months (TTM) ended in Dec. 2023 was $4,193 Mil.

Gross Margin % is calculated as gross profit divided by its revenue. Otis Worldwide's gross profit for the three months ended in Dec. 2023 was $1,068 Mil. Otis Worldwide's Revenue for the three months ended in Dec. 2023 was $3,620 Mil. Therefore, Otis Worldwide's Gross Margin % for the quarter that ended in Dec. 2023 was 29.50%.

Otis Worldwide had a gross margin of 29.50% for the quarter that ended in Dec. 2023 => Competition eroding margins

During the past 7 years, the highest Gross Margin % of Otis Worldwide was 30.04%. The lowest was 28.64%. And the median was 29.33%.

Otis Worldwide Gross Profit Historical Data

The historical data trend for Otis Worldwide's Gross Profit 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 Gross Profit Chart

Otis Worldwide Annual Data

Trend

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Gross Profit

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3,826.00

3,779.00

4,193.00

3,920.00

4,193.00

Otis Worldwide Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Gross Profit	Get a 7-Day Free Trial															960.00	996.00	1,083.00	1,046.00	1,068.00

Competitive Comparison of Otis Worldwide's Gross Profit

For the Specialty Industrial Machinery subindustry, Otis Worldwide's Gross Profit, along with its competitors' market caps and Gross Profit 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 Gross Profit Distribution in the Industrial Products Industry

For the Industrial Products industry and Industrials sector, Otis Worldwide's Gross Profit distribution charts can be found below:

* The bar in red indicates where Otis Worldwide's Gross Profit falls into.

Otis Worldwide Gross Profit Calculation

Gross Profit is the different between the sale prices and the cost of buying or producing the goods.

Otis Worldwide's Gross Profit for the fiscal year that ended in Dec. 2023 is calculated as

Gross Profit (A: Dec. 2023 )	=	Revenue	-	Cost of Goods Sold
	=	14209	-	10016
	=	4,193

Otis Worldwide's Gross Profit for the quarter that ended in Dec. 2023 is calculated as

Gross Profit (Q: Dec. 2023 )	=	Revenue	-	Cost of Goods Sold
	=	3620	-	2552
	=	1,068

Gross Profit for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $4,193 Mil.

Gross Profit is the numerator in the calculation of Gross Margin.

Otis Worldwide's Gross Margin % for the quarter that ended in Dec. 2023 is calculated as

Gross Margin % (Q: Dec. 2023 )	=	Gross Profit (Q: Dec. 2023 )	/	Revenue (Q: Dec. 2023 )
	=	(Revenue - Cost of Goods Sold)	/	Revenue
	=	1,068	/	3620
	=	29.50 %

A positive Gross Profit is only the first step for a company to make a net profit. The gross profit needs to be big enough to also cover related labor, equipment, rental, marketing/advertising, research and development and a lot of other costs in selling the products.

Otis Worldwide (NYSE:OTIS) Gross Profit Explanation

Warren Buffett believes that firms with excellent long term economics tend to have consistently higher margins.

Durable competitive advantage creates a high Gross Margin % because of the freedom to price in excess of cost. Companies can be categorized by their Gross Margin %

1. Greater than 40% = Durable competitive advantage
2. Less than 40% = Competition eroding margins
3. Less than 20% = no sustainable competitive advantage
Consistency of Gross Margin is key

Otis Worldwide had a gross margin of 29.50% for the quarter that ended in Dec. 2023 => Competition eroding margins

Otis Worldwide Gross Profit Related Terms

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Otis Worldwide (Otis Worldwide) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Industrial Products » Otis Worldwide Corp (NYSE:OTIS) » Definitions » Gross Profit

Comparable Companies

Traded in Other Exchanges

OTIS:Mexico 4PG:Germany 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.

Executives

Thomas A Bartlett	director	116 HUNTINGTON AVENUE, BOSTON MA 02116
Jill Brannon	director	942 S. SHADY GROVE ROAD, MEMPHIS TN 38120
Tracy A Embree	officer: President, Otis Americas	500 JACKSON STREET, COLUMBUS IN 47201
Viseras Enrique Minarro	officer: President, Otis EMEA	C/O INGERSOLL RAND INC., 525 HARBOUR PLACE DRIVE, SUITE 600, DAVIDSON NC 28036
Fernandez Bernardo Calleja	officer: President, Otis EMEA	1 CARRIER PLACE, FARMINGTON CT 06032
Michael Patrick Ryan	officer: VP, CAO and Controller	10 FARM SPRINGS ROAD, FARMINGTON CT 06032
Sally Loh	officer: President, Otis China	1 CARRIER PLACE, FARMINGTON CT 06032
James F. Cramer	officer: President, Otis Americas	1 CARRIER PLACE, FARMINGTON CT 06032
Nora E. Lafreniere	officer: EVP, Chief GC & Corp. Sec.	ONE CARRIER PLACE, FARMINGTON CT 06032
Montlivault Stephane De	officer: President, Otis Asia Pacific	ONE CARRIER PLACE, FARMINGTON CT 06032
Peiming Zheng	officer: President, Otis China	ONE CARRIER PLACE, FARMINGTON CT 06032
Nelda J Connors	director	BOSTON SCIENTIFIC CORPORATION, 300 BOSTON SCIENTIFIC WAY, MARLBOROUGH MA 01752-1234
Anurag Maheshwari	officer: EVP and CFO	1 CARRIER PLACE, FARMINGTON CT 06032
Rahul Ghai	officer: EVP & Chief Financial Officer	GENERAL ELECTRIC COMPANY, 5 NECCO STREET, BOSTON MA 02210
Abbe Luersman	officer: EVP & CPO	1 CARRIER PLACE, FARMINGTON CT 06032