Otis Worldwide Corp (OTIS)
Gross profit margin
| Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross profit (ttm) | US$ in thousands | 12,036,000 | 11,928,000 | 11,801,000 | 11,595,000 | 11,644,000 | 11,698,000 | 11,906,000 | 12,091,000 | 12,060,000 | 10,096,000 | 8,000,000 | 5,736,000 | 3,779,000 |
| Revenue (ttm) | US$ in thousands | 14,059,000 | 13,883,000 | 13,708,000 | 13,478,000 | 13,542,000 | 13,664,000 | 13,942,000 | 14,163,000 | 14,162,000 | 14,130,000 | 13,772,000 | 13,086,000 | 12,676,000 |
| Gross profit margin | 85.61% | 85.92% | 86.09% | 86.03% | 85.98% | 85.61% | 85.40% | 85.37% | 85.16% | 71.45% | 58.09% | 43.83% | 29.81% |
December 31, 2023 calculation
Gross profit margin = Gross profit (ttm) ÷ Revenue (ttm)
= $12,036,000K ÷ $14,059,000K
= 85.61%
The gross profit margin of Otis Worldwide Corp has remained relatively stable over the past eight quarters, ranging from 28.64% to 29.51%. The company's gross profit margin measures the percentage of revenue that exceeds the cost of goods sold, indicating how efficiently the company is generating profits from its core operations.
In general, a higher gross profit margin implies better efficiency in managing production costs and pricing strategies. Otis Worldwide Corp's gross profit margin seems to be consistently above 28%, suggesting that the company has been able to maintain a healthy level of profitability in its operations.
However, it is essential to further analyze the trend over more extended periods and compare it with industry benchmarks to gain a deeper understanding of Otis Worldwide Corp's competitive position and management of production costs.
Peer comparison
Dec 31, 2023