Otis Worldwide Corp (OTIS)
Operating profit margin
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Operating income | US$ in thousands | 2,186,000 | 2,033,000 | 2,108,000 | 1,639,000 |
| Revenue | US$ in thousands | 14,059,000 | 13,542,000 | 14,162,000 | 12,634,000 |
| Operating profit margin | 15.55% | 15.01% | 14.88% | 12.97% |
December 31, 2023 calculation
Operating profit margin = Operating income ÷ Revenue
= $2,186,000K ÷ $14,059,000K
= 15.55%
The operating profit margin of Otis Worldwide Corp has shown a generally positive trend over the past five years, increasing from 14.42% in 2019 to 15.24% in 2023. This indicates that the company has been able to improve its efficiency in generating profits from its core operations. The steady improvement in operating profit margin signifies effective cost management and/or revenue growth strategies implemented by the company. Overall, the increasing trend in operating profit margin reflects positively on Otis Worldwide Corp's operational performance and profitability over the years.
Peer comparison
Dec 31, 2023