Otis Worldwide reported $19.6B of remaining performance obligations at 30 Sep 2026, up 3% from a year earlier and down 1% from the previous quarter. That is 1.3 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.
Net new backlog added in the latest quarter: -$100M.
Over the last twelve months it turned about 78% of its opening backlog into revenue (12-month conversion).
The company reports 75% of the backlog due within the first 24 months.
Customer prepayments (contract liabilities) cover 15.3% of the backlog.
Twelve-month book-to-bill: 1.04, i.e. 1.04 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -3 points — revenue is catching up with orders.
By backlog size it ranks 47th among US filers the cockpit tracks.
Otis Worldwide backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
30 Sep 2026
$19.6B
$15.1B
1.3 yrs
$3.01B
30 Jun 2026
$19.7B
$14.9B
1.3 yrs
$3.05B
31 Mar 2026
$19.8B
$14.6B
1.4 yrs
$3.13B
31 Dec 2025
$19.1B
$14.4B
1.3 yrs
$2.64B
30 Sep 2025
$19.0B
$14.3B
1.3 yrs
$2.83B
30 Jun 2025
$19.3B
$14.2B
1.4 yrs
$2.85B
31 Mar 2025
$18.6B
$14.2B
1.3 yrs
$2.91B
31 Dec 2024
$17.6B
$14.3B
1.2 yrs
$2.64B
30 Sep 2024
$18.6B
$14.2B
1.3 yrs
$2.83B
30 Jun 2024
$18.2B
$14.2B
1.3 yrs
$2.84B
31 Mar 2024
$18.3B
$14.3B
1.3 yrs
$2.99B
31 Dec 2023
$18.0B
$14.2B
1.3 yrs
$2.74B
Questions
What is Otis Worldwide's backlog?
Otis Worldwide reported $19.6B of remaining performance obligations at 30 Sep 2026, up 3% from a year earlier and down 1% from the previous quarter. That is 1.3 years of trailing revenue already under contract. Book-to-bill last quarter: 0.97.
How fast does Otis Worldwide's backlog turn into revenue?
Over the last twelve months Otis Worldwide recognised revenue equal to about 78% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.