---
title: "Otis Worldwide: Business Model"
description: "Otis Worldwide revenue by business segment and geography from its fiscal 2025 Form 10-K, with each part's share, growth and profitability explained."
canonical: https://www.getswoopr.com/stocks/companies/otis-worldwide/business-model/
source: "Swoopr Investment: https://www.getswoopr.com"
---

# Otis Worldwide: Business Model & Revenue Engine

## Direct Answer

Otis Worldwide reports revenue across 2 business segments in its fiscal 2025 Form 10-K. Services is the largest, with $9.4 billion of revenue (65% of the total), followed by New Equipment at $5.0 billion (35%). 29% of revenue came from the United States.

## How Does Otis Worldwide Make Money?

Services supplies 65% of revenue, so Otis Worldwide's results move mostly with that one business; the others matter more for diversification than for the headline number. Between fiscal 2024 and 2025, Services grew fastest (+6.2%) and New Equipment slowest (-7.0%), so the revenue mix tilts toward Services while that gap lasts.

| Segment | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Services | $9.4 billion | $8.9 billion | 65.4% | 6.2% |
| New Equipment | $5.0 billion | $5.4 billion | 34.6% | -7.0% |

![Bar chart of Otis Worldwide revenue by segment for fiscal 2025: Services 65.4%, New Equipment 34.6%.](https://www.getswoopr.com/images/charts/otis-worldwide-business-model-segment-mix.webp)
*Otis Worldwide revenue by segment as a share of total revenue, from the table above. The largest is highlighted. Select the chart to open it full size.*

## Which Otis Worldwide Segments Earn the Most?

| Segment | FY2025 segment operating income | Segment margin |
| --- | --- | --- |
| Services | $2.4 billion | 25.1% |
| New Equipment | $240 million | 4.8% |

Segment operating income is the profit measure Otis Worldwide reports to its chief operating decision maker for each segment. It usually leaves out corporate costs that are not allocated to a segment, so the segments usually add up to more than consolidated operating income, and margins are comparable within Otis Worldwide more safely than against another company.

## What Does Otis Worldwide Sell?

Otis Worldwide also breaks revenue down by product and service line, which shows what customers pay for rather than how management organizes the business.

| Product or service | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Service Maintenance and Repair | $7.6 billion | $7.2 billion | 52.6% | 5.2% |
| Product | $5.0 billion | $5.4 billion | 34.6% | -7.0% |
| Service Modernization | $1.9 billion | $1.7 billion | 12.9% | 10.4% |

## Where Does Otis Worldwide's Revenue Come From?

Regions follow the definitions in the filing; most companies assign revenue by customer location.

| Region | FY2025 revenue | FY2024 revenue | Share of revenue | Change |
| --- | --- | --- | --- | --- |
| Other | $8.6 billion | $8.1 billion | 59.5% | 6.0% |
| United States | $4.2 billion | $4.2 billion | 29.0% | -1.1% |
| China | $1.6 billion | $1.9 billion | 11.4% | -14.0% |

## What the Segment Figures Do Not Show

The rows above add up to 100% of Otis Worldwide's reported revenue for fiscal 2025; the difference is intersegment eliminations, corporate revenue or items the company reports outside its segments. Segment definitions are management's choice and change when a company reorganizes, in which case it restates prior years in the next filing, so a multi-year comparison should use the figures from a single filing. Revenue shows where sales come from, not where profit or cash is earned: a small segment can carry most of the margin.

## Where These Numbers Come From

Every figure on this page is a value Otis Worldwide reported in the segment note and revenue disclosures of its Form 10-K filed February 5, 2026 (accession 0001781335-26-000011), read from the SEC's Financial Statement Data Sets. The prior-year column is the comparative figure from that same filing, so it reflects any restatement for a change in segments. Category names are the company's own XBRL labels, lightly reformatted for reading.

Rows that only total other rows (for example a "Products" line beside the individual products) are left out so nothing is counted twice. This page is educational and describes reported history for fiscal 2025; it is not a forecast or a recommendation.

## Frequently Asked Questions

### What are Otis Worldwide's business segments?

In its fiscal 2025 Form 10-K, Otis Worldwide reports revenue for Services and New Equipment.

### Which part of Otis Worldwide brings in the most revenue?

Services, with $9.4 billion of revenue in fiscal 2025, or 65% of the total.

### How much of Otis Worldwide's revenue comes from outside the United States?

71% in fiscal 2025, by the geographic breakdown Otis Worldwide reports in its Form 10-K. Companies assign revenue to regions differently (customer location, shipping address or selling entity), so check the filing's definition before comparing companies.

## References

- [SEC EDGAR: Otis Worldwide Corp Form 10-K filed February 5, 2026](https://www.sec.gov/Archives/edgar/data/1781335/000178133526000011/otis-20251231.htm)
- [SEC EDGAR: Otis Worldwide Corp annual and quarterly filings](https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1781335&type=10-K)
- [SEC: EDGAR application programming interfaces (XBRL frames and submissions data)](https://www.sec.gov/search-filings/edgar-application-programming-interfaces)
- [SEC: Financial Statement Data Sets](https://www.sec.gov/data-research/sec-markets-data/financial-statement-data-sets)

## Related Pages

- [Otis Worldwide company dossier](https://www.getswoopr.com/stocks/companies/otis-worldwide/)
- [Otis Worldwide financial metrics](https://www.getswoopr.com/stocks/companies/otis-worldwide/metrics/)
- [Otis Worldwide financial risk indicators](https://www.getswoopr.com/stocks/companies/otis-worldwide/risks/)
- [Otis Worldwide peer comparison](https://www.getswoopr.com/stocks/companies/otis-worldwide/competitors/)
- [Otis Worldwide business model and revenue mix](https://www.getswoopr.com/stocks/companies/otis-worldwide/business-model/)
- [Fundamental analysis guides](https://www.getswoopr.com/learn/fundamental-analysis/)

**[Swoopr Editorial Team](https://www.getswoopr.com/authors/swoopr-editorial-team/)**

Swoopr's editorial team produces independent investment education content reviewed for accuracy and clarity. We do not provide personalized financial advice. See our [editorial policy](https://www.getswoopr.com/legal/editorial-policy/) and [corrections policy](https://www.getswoopr.com/legal/corrections-policy/).