Otis Worldwide Corp (OTIS)
Gross profit margin
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| Gross profit | US$ in thousands | 12,267,000 | 12,036,000 | 11,644,000 | 12,060,000 | 3,779,000 |
| Revenue | US$ in thousands | 14,261,000 | 14,059,000 | 13,542,000 | 14,162,000 | 12,634,000 |
| Gross profit margin | 86.02% | 85.61% | 85.98% | 85.16% | 29.91% |
December 31, 2024 calculation
Gross profit margin = Gross profit ÷ Revenue
= $12,267,000K ÷ $14,261,000K
= 86.02%
The gross profit margin of Otis Worldwide Corp has shown a significant improvement over the years, consistently increasing from 29.91% as of December 31, 2020, to 86.02% as of December 31, 2024. This substantial growth signifies the company's ability to effectively control its production costs and generate more profit from its sales. The consistently high gross profit margins indicate efficiency in managing production expenses and pricing strategies, reflecting positively on the company's overall operational performance. This trend indicates a strong financial position and competitive advantage for Otis Worldwide Corp in the industry.
Peer comparison
Dec 31, 2024