Otis Worldwide Corporation

What does Otis own?
Otis owns its elevator, escalator, and moving walkway product lines, the Gen2, Gen3, and Otis ONE platforms, and a global manufacturing and service network covering more than 200 countries.

Is Otis publicly traded?
Yes. It trades on the New York Stock Exchange under ticker OTIS and is an S&P 500 component.

When was Otis founded?
Elisha Graves Otis founded the company in 1853 in Yonkers, New York. It operated as part of United Technologies from 1976 until its April 3, 2020 spinoff as an independent public company.

Who is the CEO of Otis?
Judith F. Marks serves as chair, CEO, and president. She has led the company since 2019 and through the 2020 separation from United Technologies.

Why is service more important than new elevator sales?
Maintenance and modernization contracts on the installed base renew at high rates and generate more than 90 percent of operating profit, while new equipment sales are cyclical and lower margin.

How large is the Otis service portfolio?
Approximately 2.5 million units under maintenance as of the end of FY2025, the largest in the industry, having grown for four consecutive years.

How much revenue does Otis generate?
FY2025 net sales were $14.4 billion, and trailing twelve-month revenue reached approximately $15.1 billion through Q3 2026.

Elisha Graves Otis founded the company in Yonkers, New York in 1853, having invented the safety brake that made passenger elevators practical. His 1854 demonstration at New York's Crystal Palace, cutting the hoisting rope of a platform he stood on without falling, is among the most famous product demonstrations in industrial history.

Otis elevators enabled the skyscraper. The company equipped the Eiffel Tower, the Empire State Building, and generations of the world's tallest buildings, growing into the dominant global elevator maker through the 20th century.

United Technologies Corporation acquired Otis in 1976, folding it into a building systems portfolio alongside Carrier and Pratt and Whitney for more than four decades. That era ended in 2020: when UTC merged with Raytheon, it split into three companies, and Otis began trading independently on the New York Stock Exchange on April 3, 2020 under the OTIS ticker.

The standalone company's strategy has been service-first: grow the maintenance portfolio, push modernization of aging units, and digitize service delivery through the Otis ONE IoT platform and the Gen3 connected elevator line. By FY2025 the maintenance portfolio reached approximately 2.5 million units, with modernization orders up 26 percent for the year and the modernization backlog up 30 percent.

Judith Marks, who joined UTC in 2011 and led Otis from 2017, has served as CEO since 2019 and added the chair title in 2022, leading the company through the spinoff and its first five years as an independent public company.

The company's products sit inside buildings' energy budgets, and its regenerative drive technology feeds braking energy back into building power systems, a genuine efficiency credential in new equipment.

Otis operates under its Absolutes framework covering safety, ethics, and quality, and publishes sustainability reporting on emissions, workforce safety, and diversity. Employee safety is operationally central given field technicians work on live equipment at height; the company reports safety metrics annually.

Safety regulation: Elevator safety is heavily regulated jurisdiction by jurisdiction, and accidents on maintained equipment periodically draw regulator and press attention to inspection and maintenance standards.

China exposure: Declining Chinese construction has pressured New Equipment revenue for multiple years, a structural rather than cyclical concern for some investors and the driver of the company's China transformation program.

Workforce restructuring: The UpLift cost program and related restructuring charges contributed to the FY2025 GAAP EPS decline, drawing scrutiny even as margins expanded.