CIT Group Inc. (CIT) Income Statement Analysis

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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)

Industry: Banks - Regional

Sector: Financial Services

Website: https://www.cit.com

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

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