Otis Worldwide Corp (OTIS)
Debt-to-assets ratio
| 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 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-term debt | US$ in thousands | 6,866,000 | 6,822,000 | 6,117,000 | 6,116,000 | 6,098,000 | 6,459,000 | 6,602,000 | 6,694,000 | 7,249,000 | 5,458,000 | 5,457,000 | 5,457,000 | 5,262,000 | 5,512,000 | 6,260,000 | — |
| Total assets | US$ in thousands | 10,117,000 | 10,390,000 | 10,135,000 | 9,845,000 | 9,819,000 | 9,342,000 | 9,913,000 | 11,795,000 | 12,279,000 | 10,472,000 | 10,857,000 | 10,505,000 | 10,710,000 | 10,473,000 | 10,441,000 | 9,524,000 |
| Debt-to-assets ratio | 0.68 | 0.66 | 0.60 | 0.62 | 0.62 | 0.69 | 0.67 | 0.57 | 0.59 | 0.52 | 0.50 | 0.52 | 0.49 | 0.53 | 0.60 | 0.00 |
December 31, 2023 calculation
Debt-to-assets ratio = Long-term debt ÷ Total assets
= $6,866,000K ÷ $10,117,000K
= 0.68
The debt-to-assets ratio of Otis Worldwide Corp has shown some fluctuations over the past eight quarters. The ratio ranged between 0.57 and 0.71 during this period. It seems that the company has been maintaining a moderate to high level of debt relative to its total assets.
The highest ratio observed was 0.71 in Q3 2023, indicating that the company had higher debt compared to assets during that quarter. On the other hand, the lowest ratio of 0.57 was recorded in Q1 2022, suggesting a lower proportion of debt relative to assets at that time.
Overall, the debt-to-assets ratio of Otis Worldwide Corp has been somewhat volatile but generally within an acceptable range for managing debt levels. It is important for the company to monitor and manage this ratio effectively to ensure a healthy balance between debt and assets in its capital structure.
Peer comparison
Dec 31, 2023