该报告暂无中文版，以下为英文版分析。
按公开的固定规则计算，不是模型的主观判断——但其中一项输入（高等级风险的条数）取自下方的 AI 分析。
非投资建议，也不是目标价——评的是本季基本面，不是股价。 完整方法论 →
AI核心结论
Otis delivered modest revenue growth of 1.2% to $14.4B in FY2025 with improved operating margins, but net income fell 15.9% to $1.38B, largely due to higher SG&A costs and a significant cash reduction driven by heavy financing outflows.
营收
144.31亿美元
同比 +1.19%
每股收益（稀释）
3.50美元
同比 -14.00%
营业利润
21.33亿美元
同比 +6.23%
SEC XBRL 原值
Otis Worldwide (OTIS) FY2025 营收 144.31亿美元，同比增长 1.2%。 营业利润率 14.8%，较去年同期的 14.1% 扩大 0.7 个百分点。 经营活动现金流 15.96亿美元，同比增长 2.1%。
近 4 个季度：1 次超预期
| 季度 | 实际 EPS（美元） | 市场预期（美元） | 结果 |
|---|---|---|---|
| 2026年6月 | 1.01 | 1.03 | 不及预期 -1.6% |
| 2026年3月 | 0.89 | 0.91 | 不及预期 -1.9% |
| 2025年12月本次财报 | 1.03 | 1.06 | 不及预期 -2.5% |
| 2025年9月 | 1.05 | 1.02 | 超预期 +3.0% |
2025年12月 实际 EPS 1.03美元，分析师一致预期 1.06美元，不及预期 -2.5%。
由 AI 基于本次 SEC 报告整理
Otis grew total revenue by 1.2% year-over-year to $14.43B in FY2025, reflecting steady demand in its elevator and escalator service and new equipment segments despite a challenging macroeconomic backdrop.
来源: 10-K Income Statement
Operating income rose 6.2% to $2.13B, pushing the operating margin up approximately 70 basis points to 14.8%, suggesting improved operational efficiency even as SG&A expenses increased by 6.3% to $1.98B.
来源: 10-K Income Statement
Net income fell 15.9% to $1.38B from $1.65B in the prior year, with diluted EPS declining 14.0% to $3.50, likely reflecting higher below-the-line costs including interest expense on the company's substantial long-term debt load.
来源: 10-K Income Statement
Cash and equivalents dropped 52.3% to $1.10B from $2.30B, driven by financing cash outflows of -$2.42B — a dramatic increase from -$309M in the prior year — suggesting large debt repayments, dividends, or capital returns to shareholders beyond the $809M in share buybacks.
来源: 10-K Cash Flow Statement
Stockholders' equity deteriorated further to -$5.39B from -$4.85B, a common structural feature for companies that have returned significant capital to shareholders over time, but it amplifies financial leverage risk given total liabilities of $15.92B.
来源: 10-K Balance Sheet
由 AI 基于本次 SEC 报告整理 · 高 2 中 3 低 0
Otis carries a stockholders' equity deficit of -$5.39B, which has worsened by 11.2% year-over-year. This structural imbalance means total liabilities of $15.92B far exceed total assets of $10.65B, creating vulnerability if credit conditions tighten or earnings deteriorate.
来源: 10-K Balance Sheet
Long-term debt stands at $7.74B, and the debt-to-equity ratio is deeply negative (-2.95x) due to the equity deficit, making traditional leverage metrics difficult to interpret. The company's ability to service this debt depends heavily on sustained operating cash flow generation.
来源: 10-K Balance Sheet & Key Ratios
The current ratio of 0.85x indicates that current liabilities of $7.66B exceed current assets of $6.50B, meaning Otis may face short-term liquidity stress if operating cash flows or credit facilities are disrupted. Cash fell by over $1.2B during FY2025.
来源: 10-K Balance Sheet & Key Ratios
SG&A expenses grew 6.3% to $1.98B, outpacing revenue growth of 1.2%, which contributed to the 15.9% decline in net income. If this cost trend continues without corresponding revenue acceleration, net margins will face further compression.
来源: 10-K Income Statement
Financing cash outflows surged to -$2.42B in FY2025 from -$309M in the prior year, a 683.5% increase, significantly depleting the company's cash reserves. This limits Otis's financial flexibility for future investments, acquisitions, or weathering economic downturns.
来源: 10-K Cash Flow Statement
| 指标 | 当期 | 上期 | 同比变化 |
|---|---|---|---|
营收 亿美元 | 144.31 亿美元 | 142.61 亿美元 | +1.19% |
营业利润 亿美元 | 21.33 亿美元 | 20.08 亿美元 | +6.23% |
净利润 亿美元 | 13.84 亿美元 | 16.45 亿美元 | -15.87% |
每股收益（基本） 美元 | 3.52 美元 | 4.10 美元 | -14.15% |
每股收益（稀释） 美元 | 3.50 美元 | 4.07 美元 | -14.00% |
研发费用 亿美元 | 1.52 亿美元 | 1.52 亿美元 | 0.00% |
销售及管理费用 亿美元 | 19.79 亿美元 | 18.61 亿美元 | +6.34% |
答案基于本次 SEC 报告与本页数据
工业机械、用品与部件 行业其他公司