See more : Buddy Technologies Limited (POTTF) 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 Debuts Amenities Payment Feature
CIT Group Inc.'s Community Association Banking division has launched a new amenities feature in C-PropertyPay, a secure payment system to help residents and association members pay their dues, rent and other shared services fees online or via a mobile app,...
CIT Launches Amenities Payment Feature for Community Association Banking Clients
NEW YORK, Nov. 16, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced its Community Association Banking division has launched a new amenities feature in C-PropertyPay, a simple, secure payment system that lets residents and association members pay their dues, rent and...
CIT Northbridge Provides Financing for Baker & Taylor Acquisition
NEW YORK, Nov. 16, 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 senior secured credit facility to support the acquisition of Baker...
CIT Arranges Up to $58 Million to Refinance Four Container Ships
NEW YORK, Nov. 8, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business arranged to provide up to $58 million to refinance four container ships operated by Leonhardt & Blumberg. The financing includes both term loan...
CIT Arranges $55.5 Million Financing for Home Care and Hospice Provider New Day Health Care
NEW YORK, Nov. 4, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Healthcare Finance business served as sole lead arranger on $55.5 million in financing for New Day Healthcare. New Day Healthcare, founded by long term home care...
CIT Serves as Joint Lead Arranger on $1.16 Billion Financing for PRO Unlimited Inc.
NEW YORK, Nov. 2, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Asset-Based Lending business served as joint lead arranger on a $1.16 billion financing for PRO Unlimited Inc., a leading Integrated Workforce Management (IWM) platform provider. Serving hundreds...
CIT Launches One Million Meals Campaign to Fight Hunger
NEW YORK, Nov. 1, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced the start of its annual partnership with Feeding America® to help provide One Million Meals 1 to people facing hunger across the country. "We're proud to again partner...
CIT Providing $70 Million in Financing to Maritime Asset Partners
NEW YORK, Nov. 1, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Maritime Finance business is providing $70 million in financing to Maritime Asset Partners for the refinancing of Sterling LLC. Maritime Asset Partners is a specialized finance platform...
CIT Serves as Sole Lead Arranger on $67.8 Million Financing for Upstate New York Solar Power and Battery Storage Portfolio
NEW YORK, Oct. 29, 2021 /PRNewswire/ -- CIT Group Inc. (NYSE: CIT) today announced that its Power and Energy business served as sole lead arranger for $67.8 million in financing for construction of the new AMP NY2 community solar and storage portfolio. CIT...
Why Shares of New York Community Bancorp Are Down Today
The company's Q3 results missed estimates and the bank now doesn't expect to close on a pending acquisition until next year.
Source: https://incomestatements.info
Category: Stock Reports