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Otis Worldwide cash flow, quarter by quarter

Latest: Q3 2026 · from the cash-flow statements filed with the SEC

Free cash flow$298M in Q3 2026 · $1.7B over twelve months

Operating cash flow$337M
Capital spending−$39.0M
Free cash flow+$298M
Cash / net income0.8×

Analysis

In Q3 2026, Otis Worldwide generated $337M of operating cash flow and spent $39.0M on capital projects, leaving free cash flow of $298M. That is $39.0M less than in Q3 2025 ($337M).

Over the twelve months to Sep 30, 2026, operating cash flow was $1.8B; the largest uses were buybacks ($807M), dividends ($662M), other financing ($253M); besides operations, cash came from net borrowing (+) / repaid (−) ($245M), other investing ($62.0M); the cash balance rose by $25.0M.

Operating cash flow was $337M against net income of $426M — 0.8× profit, less cash than reported earnings, worth checking against working capital. The largest differences: contract assets −$130M, receivables −$47.0M, depreciation & amortization +$41.0M.

Free cash flow

Otis Worldwide: free cash flow by quarterOtis Worldwide: free cash flow by quarter$651MQ4 2024$156MQ1 2025$179MQ2 2025$337MQ3 2025$772MQ4 2025$380MQ1 2026$223MQ2 2026$298MQ3 2026
Operating cash flow less capital spending.
Otis Worldwide: operating cash flow against capital spendingOtis Worldwide: operating cash flow against capital spendingOperating cash flowCapital spending$690M$39.0MQ4 2024$190M$34.0MQ1 2025$215M$36.0MQ2 2025$374M$37.0MQ3 2025$817M$45.0MQ4 2025$413M$33.0MQ1 2026$267M$44.0MQ2 2026$337M$39.0MQ3 2026
Latest (Q3 2026): Operating cash flow $337M, Capital spending $39.0M.

Capital allocation, year by year

Otis Worldwide: where the cash came from (up) and went (down), by fiscal yearOtis Worldwide: where the cash came from (up) and went (down), by fiscal yearOperating cash flowNet borrowingShares issuedAsset salesCapital spendingAcquisitionsBuybacksDividendsFY2021: Operating cash flow $1.8BFY2021: Net borrowing $1.4BFY2021: Shares issued $4.0MFY2021: Capital spending −$156MFY2021: Acquisitions −$80.0MFY2021: Buybacks −$725MFY2021: Dividends −$393M$3.1BFY2021FY2022: Operating cash flow $1.6BFY2022: Net borrowing −$387MFY2022: Shares issued $5.0MFY2022: Asset sales $61.0MFY2022: Capital spending −$115MFY2022: Acquisitions −$46.0MFY2022: Buybacks −$850MFY2022: Dividends −$465M$1.6BFY2022FY2023: Operating cash flow $1.6BFY2023: Net borrowing $100MFY2023: Shares issued $6.0MFY2023: Asset sales $7.0MFY2023: Capital spending −$138MFY2023: Acquisitions −$36.0MFY2023: Buybacks −$800MFY2023: Dividends −$539M$1.7BFY2023FY2024: Operating cash flow $1.6BFY2024: Net borrowing $1.5BFY2024: Shares issued $4.0MFY2024: Asset sales $6.0MFY2024: Capital spending −$126MFY2024: Acquisitions −$87.0MFY2024: Buybacks −$1.0BFY2024: Dividends −$606M$3.1BFY2024FY2025: Operating cash flow $1.6BFY2025: Net borrowing −$658MFY2025: Shares issued $3.0MFY2025: Asset sales $60.0MFY2025: Capital spending −$152MFY2025: Acquisitions −$109MFY2025: Buybacks −$809MFY2025: Dividends −$647M$1.7BFY2025
Over these 5 years operating cash flow totalled $8.1B; the largest uses were buybacks ($4.2B) and dividends ($2.6B). Cash-flow statements as filed.

Cash runway and the debt wall

Cash & investments$866M
Debt$8.3B
Net debt$7.4B
Due within a year$842M

Otis Worldwide funds itself: free cash flow was $1.7B over the last twelve months, and $866M of cash and investments stands against $8.3B of debt ($842M due within a year, 1.0× covered by cash).

Otis Worldwide: debt maturities by year (FY2025)Otis Worldwide: debt maturities by year (FY2025)$842MYear 1$1.5BYear 2$750MYear 3$1.5BYear 5$3.2BAfter year 5
Principal due in each year as disclosed in the annual report, against $866M of cash and investments now.

Where the cash came from and went

Otis Worldwide: sources (+) and uses (−) of cash, Q3 2026Otis Worldwide: sources (+) and uses (−) of cash, Q3 2026Operating cash flow$337MDividends−$168MOther financing−$157MOther investing$101MCapital spending−$39.0MPartners−$37.0MCash drawn (+) / kept (−)−$29.0MNet borrowing (+) / repaid (−)−$14.0MExchange rates$7.0MAcquisitions−$2.0MAsset & business sales$1.0M
Otis Worldwide: sources (+) and uses (−) of cash, TTM to Q3 2026Otis Worldwide: sources (+) and uses (−) of cash, TTM to Q3 2026Operating cash flow$1.8BBuybacks−$807MDividends−$662MOther financing−$253MNet borrowing (+) / repaid (−)$245MAcquisitions−$212MCapital spending−$161MOther investing$62.0MPartners−$51.0MAsset & business sales$26.0MCash drawn (+) / kept (−)−$25.0MExchange rates$4.0M

From profit to cash

Otis Worldwide: net income to operating cash flow, Q3 2026Otis Worldwide: net income to operating cash flow, Q3 2026Net income$426MDepreciation & amortization$41.0MStock-based pay$18.0MReceivables−$47.0MInventory$1.0MPayables$29.0MAccrued liabilities−$17.0MContract assets−$130MPrepaid and other assets$13.0MOperating cash flow$337M
Non-cash charges are added back; money tied up in receivables or inventory is subtracted.

Every quarter

QuarterOperating cash flowCapital spendingAcquisitionsBuybacksDividendsNet borrowing (+) / repaid (−)Cash drawn (+) / kept (−)Free cash flow
Q3 2026$337M−$39.0M−$2.0M—−$168M−$14.0M−$29.0M$298M
Q2 2026$267M−$44.0M−$190M−$407M−$167M−$62.0M−$5.0M$223M
Q1 2026$413M−$33.0M−$3.0M−$400M−$163M−$106M$261M$380M
Q4 2025$817M−$45.0M−$17.0M—−$164M−$138M−$252M$772M
Q3 2025$374M−$37.0M−$10.0M−$248M−$164M$275M−$150M$337M
Q2 2025$215M−$36.0M−$46.0M−$308M−$164M−$816M$1.2B$179M
Q1 2025$190M−$34.0M−$36.0M−$253M−$155M−$11.0M$392M$156M
Q4 2024$690M−$39.0M−$17.0M−$207M−$156M$1.2B−$1.5B$651M

Otis Worldwide: income statement and cash flow

Otis Worldwide, Q3 2026: revenue $3.9B (+6% year over year), operating margin 15.8%. The chart follows the revenue to costs, profit and cash.

Otis Worldwide: every quarter, Q/Q and Y/Y → Open in the app

Read automatically from the company’s XBRL cash-flow statements; quarterly figures for the fourth quarter are the year less the first three. Errors are possible. Not investment advice.