Revenue flow

Margins

Stage	GE	% of rev	OTIS	% of rev	Gap · A − B
Revenue	$14.1B	100.00%	$3.9B	100.00%	GE ×3.61
Gross profit	$5.0B	35.57%	$1.2B	29.51%	GE +6.1pp
Operating income	$2.6B	18.45%	$620M	15.84%	GE +2.6pp
Pre-tax income	$2.8B	19.87%	$552M	14.10%	GE +5.8pp
Net income	$2.3B	16.26%	$426M	10.88%	GE +5.4pp

Stage	GE	OTIS	Gap · A − B
Revenue	$14.1B100.00%	$3.9B100.00%	GE ×3.61
Gross profit	35.57%$5.0B	29.51%$1.2B	GE +6.1pp
Operating income	18.45%$2.6B	15.84%$620M	GE +2.6pp
Pre-tax income	19.87%$2.8B	14.10%$552M	GE +5.8pp
Net income