Otis Worldwide Corp (OTIS)
Return on assets (ROA)
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Net income | US$ in thousands | 1,406,000 | 1,253,000 | 1,246,000 | 906,000 |
| Total assets | US$ in thousands | 10,117,000 | 9,819,000 | 12,279,000 | 10,710,000 |
| ROA | 13.90% | 12.76% | 10.15% | 8.46% |
December 31, 2023 calculation
ROA = Net income ÷ Total assets
= $1,406,000K ÷ $10,117,000K
= 13.90%
Otis Worldwide Corp's return on assets (ROA) has shown a positive trend over the past five years, indicating the company's ability to generate profits relative to its total assets. The ROA increased from 10.17% in 2019 to 13.90% in 2023. This improvement suggests that Otis Worldwide Corp has been more efficient in utilizing its assets to generate earnings. Additionally, the consistent upward trend in ROA from 2020 to 2023 reflects the company's improving operational efficiency and profitability. Overall, the increasing trend in ROA demonstrates Otis Worldwide Corp's effectiveness in generating returns on its assets over the years.
Peer comparison
Dec 31, 2023