Otis Worldwide Corporation (OTIS) Balance Sheet

NYSE: OTISAssets, liabilities, debt and equity over 9 years.

OTIS balance sheet, 2025

December 31, 2025 · U.S. dollars

$10.65B assets = $15.92B liabilities + −$5.27B equity

Liabilities exceed assets: shareholders’ equity is negative (−$5.27B).

Both columns are drawn to the same scale: what OTIS owns equals what it owes plus shareholders’ equity. Hover a block for its value.

OTIS financial health

Current ratio0.85

Tight · current assets cover current liabilities 0.85×

Equity / assets−50.6%

Thin equity · of assets funded by shareholders

Cash / debt12.5%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles19.1%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

OTIS balance sheet trends, 2017–2025

Otis Worldwide Corporation balance sheet trends
Metric	Then	Latest	Change
Total assets	$9.09B2017	$10.65B2025	+2.0%/yr
Total liabilities	$4.93B2017	$15.92B2025	+15.8%/yr
Shareholders’ equity	$1.97B2017	−$5.39B2025	—
Cash & short-term investments	$1.55B2017	$1.10B2025	−4.3%/yr
Total debt	$17.0M2017	$8.75B2025	+118.2%/yr
Net cash (debt)	$1.54B2017	−$7.65B2025	−$9.2B
Working capital	$579.0M2017	−$1.16B2025	−$1.7B
Book value per share	$4.502017	−$13.702025	—
Current ratio	1.122017	0.852025	−0.27
Debt / equity	0.012017	0.332019	+0.32
Shares outstanding	436.4M2017	393.7M2025	−1.3%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

OTIS assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

OTIS liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

OTIS debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

OTIS balance sheet

Otis Worldwide Corporation annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017
Assets
Cash & short-term investments	$1.10B	$2.30B	$1.27B	$1.19B	$1.56B	$1.78B	$1.45B	$1.33B	$1.55B
Cash & equivalents	$1.10B	$2.30B	$1.27B	$1.19B	$1.56B	$1.78B	$1.45B	$1.33B	$1.55B
Short-term investments	—	—	$1.23B	—	—	—	—	—	—
Receivables	$4.39B	$4.13B	$4.25B	$4.02B	$3.78B	$3.61B	$3.39B	$3.38B	$2.54B
Inventory	$613.0M	$557.0M	$612.0M	$617.0M	$622.0M	$659.0M	$571.0M	$637.0M	$1.10B
Other current assets	$405.0M	$679.0M	$259.0M	$316.0M	$2.29B	$446.0M	$251.0M	$269.0M	$316.0M
Total current assets	$6.50B	$7.67B	$6.40B	$6.14B	$8.26B	$6.49B	$5.66B	$5.61B	$5.51B
Property, plant & equipment (net)	$1.30B	$1.12B	$1.14B	$1.17B	$1.30B	$1.32B	$1.26B	$678.0M	$626.0M
Goodwill & intangible assets	$2.04B	$1.86B	$1.92B	$1.94B	$2.09B	$2.26B	$2.14B	$2.26B	$2.40B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$817.0M	$664.0M	$651.0M	$572.0M	$632.0M	$644.0M	$636.0M	$588.0M	$555.0M
Total assets	$10.65B	$11.32B	$10.12B	$9.82B	$12.28B	$10.71B	$9.69B	$9.13B	$9.09B
Liabilities
Accounts payable	$2.14B	$1.88B	$1.88B	$1.72B	$1.56B	$1.45B	$1.33B	$1.35B	$1.30B
Short-term debt	$1.06B	$1.47B	$149.0M	$797.0M	$205.0M	$868.0M	$174.0M	$27.0M	$17.0M
Deferred revenue	—	$2.60B	$2.70B	$2.66B	$2.67B	$2.54B	$2.27B	$2.33B	—
Total current liabilities	$7.66B	$7.75B	$6.48B	$6.84B	$6.25B	$6.67B	$5.37B	$5.30B	$4.93B
Long-term debt	$6.90B	$6.97B	$6.87B	$6.10B	$7.25B	$5.26B	$0	$0	$0
Lease obligations	$555.0M	$418.0M	$409.0M	$315.0M	$336.0M	$367.0M	$526.0M	$0	—
Other long-term liabilities	$1.37B	$1.32B	$1.49B	$1.54B	$1.77B	$1.98B	$1.99B	$1.62B	$0
Total liabilities	$15.92B	$16.04B	$14.84B	$14.48B	$15.26B	$13.91B	$7.36B	$6.92B	$4.93B
Shareholders' equity
Common stock & paid-in capital	$333.0M	$265.0M	$213.0M	$162.0M	$119.0M	$59.0M	$2.46B	$2.28B	$2.55B
Retained earnings (deficit)	−$440.0M	−$978.0M	−$2.00B	−$2.87B	−$2.26B	−$3.11B	—	—	—
Treasury stock	—	—	—	−$1.57B	−$725.0M	—	—	—	—
Accumulated other comprehensive income	−$1.09B	−$745.0M	−$750.0M	−$592.0M	−$763.0M	−$815.0M	−$758.0M	−$708.0M	−$587.0M
Minority interest	$121.0M	$120.0M	$204.0M	$71.0M	$481.0M	$548.0M	—	—	—
Total shareholders' equity	−$5.39B	−$4.85B	−$4.92B	−$4.87B	−$3.62B	−$3.86B	$1.70B	$1.57B	$1.97B
Key figures
Total debt	$8.75B	$8.74B	$7.31B	$7.21B	$7.79B	$6.50B	$565.0M	$27.0M	$17.0M
Net cash (debt)	−$7.65B	−$6.44B	−$6.03B	−$6.02B	−$6.22B	−$4.71B	$881.0M	$1.30B	$1.54B
Working capital	−$1.16B	−$79.0M	−$79.0M	−$700.0M	$2.01B	−$180.0M	$284.0M	$309.0M	$579.0M
Tangible book value	−$7.43B	−$6.71B	−$6.85B	−$6.81B	−$5.71B	−$6.12B	−$437.0M	−$688.0M	−$431.0M
Book value per share	−$13.70	−$11.99	−$11.88	−$11.51	−$8.40	−$8.89	$3.93	$3.62	$4.50
Shares outstanding	393.7M	404.4M	414.6M	423.0M	431.4M	434.6M	433.1M	433.1M	436.4M
Current ratio	0.85	0.99	0.99	0.90	1.32	0.97	1.05	1.06	1.12
Quick ratio	0.72	0.83	0.85	0.76	0.86	0.81	0.90	0.89	0.83
Debt / equity	—	—	—	—	—	—	0.33	0.02	0.01
Equity / assets	−50.6%	−42.8%	−48.7%	−49.6%	−29.5%	−36.1%	17.5%	17.2%	21.6%

Otis Worldwide Corporation quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$813.0M	$834.0M	$1.10B	$840.0M	$688.0M	$1.92B	$2.30B	$827.0M	$951.0M	$884.0M	$1.27B	$1.64B
Cash & equivalents	$813.0M	$834.0M	$1.10B	$840.0M	$688.0M	$1.92B	$2.30B	$827.0M	$951.0M	$884.0M	$1.27B	$1.64B
Receivables	$4.81B	$4.67B	$4.39B	$4.55B	$4.46B	$4.26B	$4.13B	$4.38B	$4.36B	$4.37B	$4.25B	$4.19B
Inventory	$686.0M	$669.0M	$613.0M	$640.0M	$602.0M	$586.0M	$557.0M	$625.0M	$605.0M	$593.0M	$612.0M	$624.0M
Other current assets	$531.0M	$290.0M	$405.0M	$577.0M	$632.0M	$671.0M	$679.0M	$663.0M	$326.0M	$291.0M	$259.0M	$301.0M
Total current assets	$6.84B	$6.46B	$6.50B	$6.61B	$6.39B	$7.43B	$7.67B	$6.50B	$6.24B	$6.14B	$6.40B	$6.75B
Property, plant & equipment (net)	$1.33B	$1.30B	$1.30B	$1.31B	$1.26B	$1.16B	$1.12B	$1.13B	$1.11B	$1.12B	$1.14B	$1.12B
Goodwill & intangible assets	$2.18B	$2.02B	$2.04B	$2.05B	$2.06B	$1.91B	$1.86B	$1.96B	$1.88B	$1.92B	$1.92B	$1.88B
Long-term investments	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other non-current assets	$801.0M	$767.0M	$817.0M	$804.0M	$782.0M	$665.0M	$664.0M	$676.0M	$631.0M	$617.0M	$651.0M	$633.0M
Total assets	$11.16B	$10.54B	$10.65B	$10.77B	$10.49B	$11.18B	$11.32B	$10.26B	$9.86B	$9.79B	$10.12B	$10.39B
Liabilities
Accounts payable	$2.10B	$1.98B	$2.14B	$1.76B	$1.74B	$1.62B	$1.88B	$1.78B	$1.72B	$1.64B	$1.88B	$1.66B
Short-term debt	$1.39B	$939.0M	$1.06B	$492.0M	$675.0M	$1.48B	$1.47B	$1.67B	$1.66B	$35.0M	$149.0M	$585.0M
Deferred revenue	$3.02B	$3.10B	—	$2.80B	$2.82B	$2.87B	$2.60B	$2.79B	$2.80B	$2.95B	$2.70B	$2.78B
Total current liabilities	$8.22B	$7.72B	$7.66B	$7.07B	$7.25B	$7.89B	$7.75B	$8.10B	$7.89B	$6.32B	$6.48B	$6.75B
Long-term debt	$7.05B	$6.88B	$6.90B	$7.59B	$7.07B	$6.92B	$6.97B	$5.60B	$5.53B	$6.85B	$6.87B	$6.82B
Lease obligations	$410.0M	$400.0M	$555.0M	$404.0M	$375.0M	$319.0M	$418.0M	$286.0M	$280.0M	$284.0M	$409.0M	$293.0M
Other long-term liabilities	$1.34B	$1.37B	$1.37B	$1.40B	$1.38B	$1.35B	$1.32B	$1.35B	$1.32B	$1.44B	$1.49B	$1.43B
Total liabilities	$16.72B	$15.98B	$15.92B	$16.06B	$15.70B	$16.17B	$16.04B	$15.04B	$14.74B	$14.61B	$14.84B	$15.00B
Shareholders' equity
Common stock & paid-in capital	—	$332.0M	$333.0M	$320.0M	$300.0M	$278.0M	$265.0M	$245.0M	$230.0M	$210.0M	$213.0M	$198.0M
Retained earnings (deficit)	−$117.0M	−$378.0M	−$440.0M	−$453.0M	−$663.0M	−$889.0M	−$978.0M	−$1.15B	−$1.54B	−$1.79B	−$2.00B	−$2.18B
Accumulated other comprehensive income	−$979.0M	−$1.03B	−$1.09B	−$1.09B	−$1.06B	−$871.0M	−$745.0M	−$804.0M	−$751.0M	−$756.0M	−$750.0M	−$648.0M
Minority interest	$294.0M	$245.0M	$121.0M	$136.0M	$163.0M	—	—	—	—	—	—	—
Total shareholders' equity	−$5.75B	−$5.68B	−$5.39B	−$5.42B	−$5.37B	−$5.13B	−$4.85B	−$4.90B	−$5.05B	−$5.02B	−$4.92B	−$4.79B
Key figures
Total debt	$8.85B	$8.22B	$8.75B	$8.49B	$8.12B	$8.72B	$8.74B	$7.55B	$7.46B	$7.17B	$7.31B	$7.70B
Net cash (debt)	−$8.03B	−$7.38B	−$7.65B	−$7.65B	−$7.44B	−$6.81B	−$6.44B	−$6.72B	−$6.51B	−$6.28B	−$6.03B	−$6.06B
Working capital	−$1.39B	−$1.26B	−$1.16B	−$453.0M	−$859.0M	−$457.0M	−$79.0M	−$1.60B	−$1.66B	−$180.0M	−$79.0M	$0
Tangible book value	−$7.93B	−$7.70B	−$7.43B	−$7.47B	−$7.43B	−$7.04B	−$6.71B	−$6.86B	−$6.93B	−$6.94B	−$6.85B	−$6.67B
Book value per share	−$14.88	−$14.58	−$13.70	−$13.80	−$13.51	−$12.85	−$11.99	−$12.17	−$12.44	−$12.31	−$11.98	−$11.57
Shares outstanding	386.4M	389.6M	393.7M	392.8M	397.3M	399.1M	404.4M	402.7M	405.5M	408.1M	410.9M	413.7M
Current ratio	0.83	0.84	0.85	0.94	0.88	0.94	0.99	0.80	0.79	0.97	0.99	1.00
Quick ratio	0.68	0.71	0.72	0.76	0.71	0.78	0.83	0.64	0.67	0.83	0.85	0.86
Equity / assets	−51.5%	−53.9%	−50.6%	−50.3%	−51.1%	−45.9%	−42.8%	−47.8%	−51.2%	−51.3%	−48.7%	−46.1%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 5, 2026); data from EODHD.

OTIS financial position

At the end of fiscal 2025 (December 31, 2025), Otis had total assets of $10.7 billion (down 5.9% from a year earlier), total liabilities of $15.9 billion and shareholders' equity of -$5.4 billion. It held $1.1 billion in cash and short-term investments against $8.8 billion of debt, net debt of $7.7 billion. Its current ratio was 0.85. In the latest quarter (ended June 30, 2026) total assets were $11.2 billion and equity -$5.7 billion.

Related: OTIS income statement, OTIS cash flow statement, OTIS key metrics. See the OTIS stock overview for the latest quote and news.

OTIS balance sheet FAQ

What are Otis's total assets?

Otis reported total assets of $10.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $11.3 billion a year earlier.

How much debt does Otis have?

Otis had $8.8 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.

How much cash does Otis have?

Otis held $1.1 billion in cash and short-term investments at the end of fiscal 2025; with $8.8 billion of debt that is net debt of $7.7 billion.

What is Otis's book value?

Otis's shareholders' equity (book value) was -$5.4 billion at the end of fiscal 2025, or −$13.70 per share.

What is Otis's current ratio?

Otis had current assets of $6.5 billion and current liabilities of $7.7 billion, a current ratio of 0.85 (current liabilities exceed current assets).

How much goodwill does Otis have?

Otis carried $2.0 billion of goodwill and intangible assets, 19.1% of total assets, at the end of fiscal 2025.