Q4/FY 2025 - Otis Worldwide
Returning to double-digit growth in NOPAT per share by FY27?
Yesterday, before the opening bell, Otis reported its Q4 and full-year 2025 results. Shares dropped 2% (having been down 6-ish percent earlier), with another -2% today. Let’s unpack the financial performance, and as these are the full-year results, a recap of the investment thesis can be found at the end of this blog.
Note I: we continue to work on our Heico in-depth report, set to be our most extensive deep dive published so far. A lot of elements to unpack, especially on the Mendelson family’s philosophy, the track record, but also the amount of drawdowns in the share price (always intriguing). As we’re now in the midst of earnings season, we can’t put an exact date on when it’s going to be finalized. Stay tuned, I’d say!
With that, let’s dive in.