Otis Worldwide Corp (OTIS)
Financial leverage ratio
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|
| Total assets | US$ in thousands | 10,117,000 | 9,819,000 | 12,279,000 | 10,710,000 |
| Total stockholders’ equity | US$ in thousands | -4,924,000 | -4,870,000 | -3,625,000 | -3,862,000 |
| Financial leverage ratio | — | — | — | — |
December 31, 2023 calculation
Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $10,117,000K ÷ $-4,924,000K
= —
The financial leverage ratio for Otis Worldwide Corp for the years 2019 to 2022 is not available in the provided data. However, as of December 31, 2021, the financial leverage ratio was 5.70. This indicates that the company had a relatively high level of financial leverage in 2021, meaning that a significant portion of its assets was funded by debt rather than equity.
Without the ratios for the intervening years, it is challenging to assess the trend in the company's financial leverage. However, a high financial leverage ratio can indicate higher financial risk, as the company may have higher interest payments and be more vulnerable to economic downturns. It also suggests that the company may be relying heavily on debt to finance its operations and growth.
Further analysis over multiple years would be required to accurately determine the impact of the financial leverage ratio on Otis Worldwide Corp's performance and financial health.
Peer comparison
Dec 31, 2023