Company
Otis Worldwide Corporation
Headquarters: Farmington, CT, United States
Founded: 20 September 1853
Employees: 70,000
CEO: Ms. Judith F. Marks
Market Cap
$35.88 Billion
USD as of Jan. 1, 2024
Otis Worldwide Corporation Categories
United States Industrials Specialty Industrial MachineryUnited States Industrials United States Specialty Industrial Machinery
Company Description
Otis Worldwide Corporation is a manufacturer of elevators, escalators, moving walkways, and related equipment. Founded in 1853, Otis was the first producer of safety elevators, which allowed to lock the elevator in place in case of mechanical failure. Since then the company has expanded around the world and to other mechanical moving structures such as escalators, and moving walkways.
Top Competitors by Market Capitalization
Industry: Specialty Industrial Machinery
| Company | Market Cap (USD) |
|---|---|
| Siemens | $138.51 B |
| General Electric | $135.68 B |
| Honeywell | $135.08 B |
| Schneider Electric SE | $110.11 B |
| Open Joint Stock Company OMZ | $101.93 B |
Sector:
| Company | Market Cap (USD) |
|---|---|
| Boeing | $148.18 B |
| Union Pacific | $147.34 B |
| Caterpillar | $145.65 B |
| Siemens | $138.51 B |
| General Electric | $135.68 B |
Detailed Description
Otis Worldwide Corporation manufactures, installs, and services elevators and escalators in the United States, China, and internationally. The company operates in two segments, New Equipment and Service. The New Equipment segment designs, manufactures, sells, and installs a range of passenger and freight elevators, as well as escalators and moving walkways for residential and commercial buildings, and infrastructure projects. The Service segment performs maintenance and repair services, as well as modernization services to upgrade elevators and escalators. It had a network of approximately 34,000 service mechanics operating approximately 1,400 branches and offices. The company was founded in 1853 and is headquartered in Farmington, Connecticut.
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Stocks & Indices
Otis Worldwide Corporation has the following listings and related stock indices.
Stock: NYSE: OTIS wb_incandescent
Stock: Bovespa: O1TI34 wb_incandescent
Stock: FSX: 4PG wb_incandescent
Product & Services
Elevators and escalators
Key People
Founder(s): Elisha Otis
Judy Marks (President and CEO)
Financials
Revenue: US$12.76 billion (2020)
Operating income: US$1.948 billion (2019)
Net income: US$906 million (2020)