See more : China United Travel Co.,Ltd (600358.SS) Income Statement Analysis – Financial Results
Complete financial analysis of CIT Group Inc. (CIT) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of CIT Group Inc., a leading company in the Banks – Regional industry within the Financial Services sector.
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CIT Group Inc. (CIT)
About CIT Group Inc.
CIT Group Inc. operates as the holding company for CIT Bank, N.A. that provides banking and related services to commercial and individual customers. The company operates through Commercial Banking and Consumer Banking segments. The Commercial Banking segment provides a range of commercial lending, leasing, and deposit products; loans comprising revolving lines of credit, term loans, unsecured loans, collateral-backed loans, asset-based loans, commercial real estate loans, and cash flow loans; and ancillary services and products, including cash management, capital markets, and advisory services primarily to small and middle market companies. This segment also offers asset management, factoring, receivable management, and secured financing services; supply chain financing, leasing and equipment financing to small businesses and middle market, and railroads and shippers. The Consumer Banking segment provides checking, savings, money market, and individual retirement accounts; time deposits and certificates of deposit; residential mortgage loans; small business administration loans; payment solutions; and fiduciary services. The company also offers leasing and advisory, and online banking services. It operates through a network of approximately 60 branches located in southern California. CIT Group Inc. was founded in 1908 and is based in New York, New York.
| Metric | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 2.32B | 2.27B | 2.37B | 2.48B | 2.33B | 2.74B | 2.54B | 2.39B | 1.11B | 2.03B | 3.14B | 1.33B | 2.96B | 4.77B | 4.06B | 3.74B | 3.41B | 3.27B | 888.80M |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 2.32B | 2.27B | 2.37B | 2.48B | 2.33B | 2.74B | 2.54B | 2.39B | 1.11B | 2.03B | 3.14B | 1.33B | 2.96B | 4.77B | 4.06B | 3.74B | 3.41B | 3.27B | 888.80M |
| Gross Profit Ratio | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 887.90M | 753.70M | 758.20M | 778.90M | 815.70M | 703.80M | 619.00M | 619.40M | 620.30M | 570.00M | 646.50M | 0.00 | 752.40M | 1.48B | 1.38B | 1.11B | 1.05B | 942.30M | 652.80M |
| Selling & Marketing | 34.10M | 40.40M | 47.60M | 42.20M | 20.50M | 31.30M | 33.70M | 25.20M | 36.50M | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| SG&A | 922.00M | 794.10M | 805.80M | 821.10M | 836.20M | 735.10M | 652.70M | 644.60M | 656.80M | 570.00M | 646.50M | 0.00 | 752.40M | 1.48B | 1.38B | 1.11B | 1.05B | 942.30M | 652.80M |
| Other Expenses | -3.22B | -1.48B | -1.75B | -2.18B | -3.05B | -1.80B | -1.38B | -1.13B | 674.70M | 384.70M | 53.80M | 1.39B | -3.82B | -2.69B | -1.16B | -1.53B | -1.96B | -1.96B | 340.00M |
| Operating Expenses | -2.29B | -690.20M | -946.40M | -1.36B | -2.22B | -1.07B | -722.70M | -484.50M | 1.33B | 954.70M | 700.30M | 1.39B | -3.06B | -1.22B | 218.30M | -415.30M | -915.80M | -1.02B | 992.80M |
| Cost & Expenses | -2.29B | -690.20M | -946.40M | -1.36B | -2.22B | -1.07B | -722.70M | -484.50M | 1.33B | 954.70M | 700.30M | 1.39B | -3.06B | -1.22B | 218.30M | -415.30M | -915.80M | -1.02B | 1.33B |
| Interest Income | 1.79B | 2.01B | 1.88B | 1.82B | 1.89B | 1.50B | 1.22B | 1.38B | 1.57B | 2.23B | 3.72B | 2.32B | 3.64B | 7.02B | 5.69B | 4.52B | 3.79B | 3.73B | 0.00 |
| Interest Expense | 733.30M | 952.00M | 815.10M | 717.70M | 753.20M | 1.10B | 1.09B | 1.14B | 2.90B | 2.79B | 3.08B | 2.66B | 3.14B | 3.83B | 2.87B | 1.91B | 1.26B | 1.32B | 340.00M |
| Depreciation & Amortization | 327.40M | 308.60M | 311.10M | 392.60M | 700.00M | 653.70M | 882.00M | 705.50M | 1.99B | 752.00M | -495.20M | 1.42B | 1.41B | 1.28B | 1.07B | 1.00B | 998.80M | 1.09B | 287.50M |
| EBITDA | 357.30M | 1.89B | 1.74B | 1.51B | 808.70M | 2.33B | 2.70B | 2.61B | 4.42B | 3.73B | 3.35B | 4.13B | 1.30B | 4.84B | 5.34B | 4.33B | 3.50B | 3.34B | 863.50M |
| EBITDA Ratio | 15.37% | 83.16% | 73.23% | 60.97% | 34.77% | 84.87% | 106.27% | 109.24% | 399.57% | 184.28% | 106.53% | 311.97% | 44.03% | 101.36% | 131.64% | 115.66% | 102.43% | 102.09% | 97.15% |
| Operating Income | 29.90M | 1.58B | 1.43B | 1.12B | 108.70M | 1.67B | 1.82B | 1.91B | 2.44B | 2.98B | 3.84B | 2.71B | -104.80M | 3.56B | 4.28B | 3.33B | 2.50B | 2.25B | 576.00M |
| Operating Income Ratio | 1.29% | 69.55% | 60.13% | 45.12% | 4.67% | 61.01% | 71.56% | 79.73% | 220.24% | 147.14% | 122.30% | 204.59% | -3.54% | 74.53% | 105.38% | 88.90% | 73.16% | 68.85% | 64.81% |
| Total Other Income/Expenses | -733.30M | -952.50M | -790.10M | -926.50M | -87.80M | -1.09B | -1.14B | -1.13B | -2.89B | -2.79B | -3.07B | -2.66B | -972.70M | -3.83B | -2.87B | -1.91B | -1.26B | -1.32B | -340.00M |
| Income Before Tax | -703.40M | 623.90M | 637.00M | 191.60M | 20.90M | 578.50M | 680.80M | 774.10M | -454.80M | 190.20M | 768.10M | 51.20M | -1.08B | -275.40M | 1.41B | 1.41B | 1.24B | 931.90M | 236.00M |
| Income Before Tax Ratio | -30.26% | 27.53% | 26.84% | 7.73% | 0.90% | 21.11% | 26.79% | 32.38% | -41.07% | 9.39% | 24.46% | 3.86% | -36.41% | -5.77% | 34.74% | 37.78% | 36.24% | 28.50% | 26.55% |
| Income Tax Expense | -88.10M | 94.50M | 164.90M | -67.80M | 203.50M | -488.40M | -397.90M | 92.50M | 133.80M | 158.50M | 246.90M | -132.10M | -444.40M | -194.40M | 364.40M | 464.20M | 483.20M | 365.00M | 92.00M |
| Net Income | -615.30M | 529.40M | 472.10M | 259.40M | -182.60M | 1.07B | 1.08B | 681.60M | -588.60M | 31.70M | 521.20M | 183.30M | -633.10M | -81.00M | 1.05B | 949.10M | 753.60M | 566.90M | 144.00M |
| Net Income Ratio | -26.47% | 23.36% | 19.89% | 10.47% | -7.85% | 38.94% | 42.45% | 28.51% | -53.15% | 1.57% | 16.60% | 13.83% | -21.39% | -1.70% | 25.76% | 25.37% | 22.08% | 17.34% | 16.20% |
| EPS | -6.25 | 5.46 | 3.97 | 1.60 | -0.90 | 5.75 | 5.72 | 3.40 | -2.93 | 0.16 | 2.60 | 0.46 | -2.44 | -0.41 | 5.26 | 4.61 | 3.57 | 2.68 | 0.68 |
| EPS Diluted | -6.25 | 5.46 | 3.97 | 1.58 | -0.90 | 5.72 | 5.69 | 3.38 | -2.93 | 0.16 | 2.60 | 0.46 | -2.44 | -0.40 | 5.15 | 4.50 | 3.50 | 2.66 | 0.68 |
| Weighted Avg Shares Out | 98.41M | 96.92M | 118.78M | 162.29M | 201.85M | 185.50M | 188.49M | 200.50M | 200.89M | 200.68M | 200.20M | 399.63M | 259.07M | 198.91M | 198.91M | 206.06M | 211.02M | 211.53M | 211.80M |
| Weighted Avg Shares Out (Dil) | 98.41M | 96.92M | 118.78M | 163.95M | 201.85M | 186.39M | 189.46M | 201.70M | 200.89M | 200.82M | 200.58M | 399.63M | 259.07M | 203.11M | 203.11M | 210.73M | 215.05M | 213.12M | 211.80M |
CIT Serves as Sole Lead Arranger on $18.5 Million Financing for Alabama Cancer Center
NEW YORK, April 6, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on an $18.5 million loan to finance the acquisition of the Singing River Cancer Center in Florence, Alabama. The...
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NEW YORK, March 31, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business provided financing for construction of a new 730,000-square-foot logistics center and campus in North Las Vegas, Nevada. Construction on the SunPoint West facility...
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NEW YORK, March 30, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that CIT Northbridge Credit, as advised by CIT Asset Management LLC, served as sole lead arranger on a $23 million credit facility for Nova Compression, LLC (a successor...
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NEW YORK, March 22, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on a $39 million loan to finance the Jefferson Health medical office building adjoining the Philadelphia Navy Yard Corporate...
CIT Wins 2021 FinTech Breakthrough Award for Business Lending Point-of-Sale Platform
PORTSMOUTH, N.H., March 16, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Small Business Solutions group has been selected as winner of the "Business Lending Innovation Award" for its point-of-sale lending platform in the fifth annual FinTech Breakthrough Awards...
Americans Spending More Time Managing Savings, According to CIT Bank Survey
NEW YORK, March 4, 2021 /PRNewswire/ -- Some Americans are spending more time managing their savings since the start of the COVID-19 pandemic and average seven hours per month managing their finances (e.g., paying bills, budgeting everyday expenses, and the...
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Michael Price ( Trades , Portfolio ), founder of MFP Investors LLC, has revealed his portfolio for the fourth quarter of 2020. The top trades of the quarter include reductions in top holdings Dolby Laboratories Inc. (NYSE:DLB) and Intel Corp....
CIT Provides $42.4 Million Financing for Nashville Apartment Complex
NEW YORK, Feb. 18, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Real Estate Finance business provided $42.4 million in financing for the construction of the new apartment complex in Nashville, Tennessee, to be known as...
CIT Serves as Co-Lead Arranger on $93.3 Million Battery Storage Portfolio
NEW YORK, Feb. 11, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as a co-lead arranger on a $93.3 million financing for a portfolio of six battery energy storage systems located...
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