CIT Group (Commercial Investment Trust) is a financial holding company. The Company provides financing and leasing capital and operates CIT Bank. CIT operates two business segments: Commercial banking and Consumer banking. The Commercial banking segment provides lending, leasing, senior secured commercial real estate loans, factoring, secured finance, and receivables management, as well as equipment leasing and secured financing to companies in the rail industry. The Consumer banking segment offers financial services including retail banking, mortgages, Small Business Administration loans and operates CIT Bank, which owns a direct bank.
Company Growth (employees)
Type
Public
HQ
Livingston, US
Founded
1908
Size (employees)
4,410 (est)
Website
cit.com
CIT Group was founded in 1908 and is headquartered in Livingston, US

Key People/Management at CIT Group

George Cashman

George Cashman

President, CIT Rail
Jim Hudak

Jim Hudak

President, CIT Commercial Finance
Stuart Alderoty

Stuart Alderoty

Executive Vice President, General Counsel and Corporate Secretary
John Fawcett

John Fawcett

Executive Vice President and Chief Financial Officer
Matt Galligan

Matt Galligan

President, CIT Real Estate Finance
Ellen Alemany

Ellen Alemany

Chairwoman and CEO
Jim Duffy

Jim Duffy

Executive Vice President and Chief Human Resources Officer

CIT Group Office Locations

CIT Group has offices in Livingston, New York, Beijing, Shanghai and in 14 other locations
Beijing, CN
Unit 2406, China World Trade Office Tower 2, No.1 Jian Guo Men Wai Avenue
Shanghai, CN
18F, UC Tower, 500 Fushan Road, Pudong
Fort Lauderdale, US
1000 South Pine Island Road, Suite 500
Jacksonville, US
10201 Centurion Parkway North, Suite 100
Los Angeles, US
300 S Grand Ave
Washington, US
500 New Jersey Ave., NW, Suite 350
Show all (18)

CIT Group Financials and Metrics

CIT Group Financials

CIT Group's revenue was reported to be $3.1 b in FY, 2016
USD

Revenue (Q3, 2017)

769.6 m

Net income (Q3, 2017)

219.6 m

Market capitalization (13-Dec-2017)

6.8 b

Cash (30-Sep-2017)

453.4 m

EV

14.9 b
CIT Group's current market capitalization is $6.8 b.
USDFY, 2014FY, 2015FY, 2016

Revenue

2.4 b2.6 b3.1 b

Revenue growth, %

(47%)10%18%

Interest expense

715.1 m731.4 m753.2 m

Pre tax profit

244.5 m186 m20.9 m
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Revenue

898 m879 m1 b831.8 m839.5 m1.1 b786.1 m814 m769.6 m

Interest expense

271.3 m265.2 m280.3 m195 m191.6 m279.4 m163.1 m209.2 m176.7 m

Pre tax profit

147.6 m153.1 m136.8 m105.4 m199.2 m225.4 m134.4 m9.3 m103 m

Income tax expense

44 m37.8 m(560 m)44.4 m111.2 m77 m56.2 m(31.9 m)(119.8 m)
USDFY, 2014FY, 2015FY, 2016

Cash

878.5 m1 b822.1 m

Goodwill

571.3 m1.1 b685.4 m

Total Assets

47.9 b67.4 b64.2 b

Long-term debt

18.5 b16.4 b14.9 b
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Cash

913.6 m1.2 b1.7 b1 b1 b920.5 m741.7 m598.9 m453.4 m

Inventories

19.4 b19.6 b32.4 b31.4 b30.5 b29.9 b29.7 b29 b

Goodwill

563.6 m565.9 m1.1 b1.2 b1.2 b1.2 b686.1 m625.5 m625.5 m

Total Assets

46.4 b46.7 b68.1 b67.1 b66.7 b66 b63.1 b50.5 b49.3 b
USDFY, 2014FY, 2015FY, 2016

Net Income

1.1 b1 b(848 m)

Depreciation and Amortization

973.2 m783.9 m700 m

Cash From Operating Activities

1.4 b1.2 b2.4 b

Cash From Investing Activities

(1.2 b)1.1 b(498.9 m)
USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

Net Income

103.7 m219 m912.1 m146 m163 m293.8 m179.9 m336.6 m556.2 m

Depreciation and Amortization

165.5 m388.5 m582.1 m204 m402.1 m598.1 m98.8 m200.4 m84.2 m

Cash From Operating Activities

132.6 m404.3 m793.7 m410.1 m995.3 m1.5 b289.5 m222.3 m388.7 m

Cash From Investing Activities

505.6 m(903 m)1.2 b(168.5 m)(257.8 m)(507.9 m)621 m10.3 b9.6 b
USDY, 2017

EV/CFO

38.4 x

Revenue/Employee

174.5 k

Debt/Equity

1.1 x

Debt/Assets

0.2 x

Financial Leverage

6.6 x
Show all financial metrics

CIT Group Operating Metrics

CIT Group's Total Loans Issued was reported to be $28.5 b in Q3, 2017
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Jun, 2017Q2, 2017Q3, 2017Nov, 2017

Total Loans Issued

$18.26 b$19.07 b$19.3 b$32.07 b$30.52 b$31 b$30.57 b$29.5 b$29.54 b$29.69 b$29.03 b$28.51 b

Non-accrual Loans

$160 m$183.5 m$198 m$214.7 m$252 m$295 m$283 m$288.5 m$279 m$258.8 m$256.8 m$265 m

Operating Lease (Railcars)

120 k128 k131 k

Operating Lease (Locomotives)

390390400
Show all operating metrics

CIT Group Acquisitions / Subsidiaries

Acquired CompanyDateDeal Size
CIT Aerospace International (Aruba) A.V.V.
CIT Bank, N.A.
C2 Aviation Capital, LLC
CBG LJB 21 LLC
CIT Aerospace LLC
CIT Capital Securities LLC
CIT CBK Funding Company, LLC
CIT CLO Holding Corporation
CIT Communications Finance Corporation
CIT Finance LLC
CIT Funding Company, LLC
CIT Funds LLC
CIT Group Inc.
CIT Group SF Holding Co., Inc.
CIT Home Lending Securitization Company, LLC
CIT Insurance Agency, Inc.
CIT Lending Services Corporation
CIT Loan Corporation
CIT Maritime Leasing, LLC
CIT Rail LLC
CIT Small Business Lending Corporation
CIT Technology Financing Services, Inc.
CRE CT 21 OTHER LLC
CRE FFBC LLC
CRE LJ 27 OTHER LLC
CRE LJ CA 2 LLC
CRE LJ CP ESCONDIDO LLC
CRE LJ TX LLC
Direct Capital Funding III Company, LLC
Financial Freedom Acquisition LLC
INDYMAC VENTURE, LLC
Memphis Peaking Power LLC
Millennium Leasing Company I LLC
North Romeo Storage Corporation
OneWest Investments LLC
ONEWEST VENTURES HOLDINGS LLC
PL Servicing, LLC
The CIT Group Securitization Corporation II
The CIT Group/Commercial Services, Inc.
The CIT Group/Equipment Financing, Inc.
The Equipment Insurance Company
CIT Aviation Finance II (UK) Limited
CIT Capital Aviation (UK) Limited
CIT Equipment Finance (UK) Limited (in liquidation)
CIT Funding (UK) Limited (in liquidation)
CIT Group (NFL) Limited (in liquidation)
CIT Group Holdings (UK) Limited (in liquidation)
CIT Aerospace Sweden AB
CIT Aerospace Asia Pte Ltd.
CIT Group (Singapore) Pte Ltd (In Members' Voluntary Liquidation)
CIT Transportation Holdings B.V.
CIT TRS Holdings B.V.
CIT TRS Subsidiary B.V.
Emerald Holdings C.V.
MEX CIT SERVICIOS, S. de R.L. de C.V.
Nacco Luxembourg S.à.r.l.
C.I.T. Leasing Corporation
Capita Corporation
Capital Direct Group, Inc.
CFHE Funding Company LLC
CIT Asset Management LLC
CIT Capital USA Inc.
CIT CBK Funding Inc.
CIT CLO I Blocker Inc.
CIT CLO I LLC
CIT Credit Group USA Inc.
CIT Financial USA, Inc.
CIT Funding LLC
CIT Group (NJ) LLC
CIT Healthcare LLC
CIT Lending Services Corporation (Illinois)
CIT Millbury Inc.
CIT Railcar Funding Company, LLC
CIT Strategic Finance, Inc.
CIT Trade Finance Funding Company, LLC
CRE CT 27 OTHER LLC
CRE LJ 21 OTHER LLC
CRE LJ 4800 Riverside LLC
CRE LJ CA LLC
Direct Capital Corporation
Direct Capital Funding V, LLC
Education Loan Servicing Corporation
IMV 11 PALM LLC
Millennium Leasing Company II LLC
OneWest Investments II LLC
OneWest Resources LLC
OWB REO LLC
The CIT GP Corporation III
The CIT Group/Business Credit, Inc.
The CIT Group/Corporate Aviation, Inc.
The CIT Group/Equity Investments, Inc.
CIT Aviation Finance I (UK) Limited
CIT Capital Finance (UK) Limited (in liquidation)
CIT Group (UK) Limited (in liquidation)
NACCO (U.K.) Limited
Newcourt Financial Espana S.A.
CIT Group Holdings B.V.
CIT Holdings B.V.
CIT TRS Funding B.V.
Emerald Funding (Netherlands) C.V.
CIT Malaysia One, Inc.
CIT Group Italy Srl in liquidazione
Centennial Aviation (Ireland) 7, Limited
CIT Aerospace International Leasing II
CIT Aviation Finance II (Ireland) Limited
Jessica Leasing Designated Activity Company
NACCO Rail Ireland Limited
Rita Leasing Designated Activity Company
CIT Group (Hungary) Financial Servicing Limited Liability Company "under voluntary dissolution"
CIT Group Holding (Germany) GmbH i.L.
NACCO GmbH
Centennial Aviation (France) 2, SARL
CIT Aerospace International (France) Sarl
CIT Aviation Finance I (France) Sarl
NACCO S.A.S
CIT Finance & Leasing Corporation
CIT Cayman Sandy Keys Leasing, Ltd.
3918041 Canada Inc.
544211 Alberta Ltd.
555566 Alberta Ltd.
Canadian Income Partners III Limited Partnership
Canadian Income Partners V Limited Partnership
Baliardo Limited
CIT Aerospace International
CIT Aviation Finance I (Ireland) Limited
CIT Group Finance (Ireland)
Madeleine Leasing Designation Activity Company
CIT Financial (Hong Kong) Limited
CIT Leasing (Germany) GmbH i.L.
Centennial Aviation (France) 1, SARL
CIT Aerospace Holdings (France) SAS
CIT Aviation Finance II (France) Sarl
CIT Rail Holdings (Europe) SAS
CIT Finance & Leasing (Tianjin) Corporation
CIT Cayman Coconut Palm Leasing, Ltd.
CIT CLO I Ltd.
CIT Mezzanine Partners of Canada Limited
555565 Alberta Ltd.
Canadian Income Partners I Limited Partnership
Canadian Income Partners II Limited Partnership
Canadian Income Partners IV Limited Partnership
Canadian Income Partners VI Limited Partnership
Canadian Income Partners VIII Limited Partnership
CIT Canada Finance ULC
CIT Holdings Canada ULC
CIT Financial Ltd./Services Financiers CIT Ltee.
1244771 Ontario Limited
Centennial Aviation (Bermuda) 1, Ltd.
CIT Aviation Finance I Ltd.
CIT Aviation Finance III Ltd.
CIT FSC Nineteen, Ltd.
CIT Financial (Barbados) SRL
CIT Holdings (Barbados) SRL
CIT Aerospace (Australia) Pty Ltd
CIT Aerospace International (Australia) Pty Ltd.
Canadian Income Partners VII Limited Partnership
CIT Canada Finance LP
CIT Financial (Alberta) ULC / Services Financiers CIT (Alberta) ULC
CCERU Finance LP
1143986 Ontario Limited
The Capita Corporation do Brasil Ltda
CIT Aerospace International (Bermuda) Limited
CIT Aviation Finance II Ltd.
CIT FSC Eighteen, Ltd.
CIT Leasing (Bermuda), Ltd.
CIT Aerospace, Belgium Sprl
CIT Financial II (Barbados) Srl
Worrell Capital Limited
CIT Aerospace Holdings (Australia) Pty Ltd
OneWest Bank N.AJuly 22, 2014$3.4 b

CIT Group Market Value History

CIT Group Revenue Breakdown

CIT Group's Web-traffic and Trends

CIT Group Online and Social Media Presence

CIT Group Company Life and Culture

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