CIT Group Financials

$769.6 M

Revenue Q3, 2017

$7.4 B

Mkt cap, 16-Feb-2018
Net income (Q3, 2017)219.6 M
Cash, 30-Sep-2017453.4 M
EV15.4 B

Market Value

Revenue/Financials

Income Statement

Annual

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

Income tax expense

(432.4 m)(538 m)203.5 m

Net Income

1.1 b1 b(848 m)

Quarterly

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)

Net Income

103.7 m115.3 m693.1 m146 m17 m132.8 m179.9 m156.7 m219.6 m

Balance Sheet

Annual

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

Total Debt

18.5 b16.4 b14.9 b

Total Liabilities

38.8 b56.4 b54.2 b

Common Stock

2 m2 m2.1 m

Additional Paid-in Capital

8.6 b8.7 b8.8 b

Retained Earnings

1.6 b2.5 b1.6 b

Total Equity

9.1 b10.9 b10 b

Debt to Equity Ratio

2 x1.5 x1.5 x

Debt to Assets Ratio

0.4 x0.2 x0.2 x

Financial Leverage

5.3 x6.2 x6.4 x

Quarterly

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

Accounts Payable

16.8 b17.3 b32.3 b32.9 b32.9 b32.9 b32.3 b30.9 b

Long-term debt

16.7 b16.4 b19.3 b18 b17.5 b16.5 b14.7 b8.6 b8.5 b

Total Debt

16.7 b16.4 b19.3 b18 b17.5 b16.5 b14.7 b8.6 b8.5 b

Total Liabilities

37.7 b37.8 b57.3 b56 b55.6 b54.7 b52.9 b43.1 b41.9 b

Common Stock

2 m2 m2 m2.1 m2.1 m2.1 m2.1 m2.1 m2.1 m

Additional Paid-in Capital

8.6 b8.6 b8.7 b8.7 b8.7 b8.8 b8.8 b8.7 b8.8 b

Retained Earnings

1.7 b1.8 b2.4 b2.7 b2.7 b2.8 b1.7 b1.8 b2 b

Total Equity

8.8 b8.8 b10.8 b11.1 b11.1 b11.2 b10.2 b7.4 b7.5 b

Debt to Equity Ratio

1.9 x1.9 x1.8 x1.6 x1.6 x1.5 x1.4 x1.2 x1.1 x

Debt to Assets Ratio

0.4 x0.4 x0.3 x0.3 x0.3 x0.3 x0.2 x0.2 x0.2 x

Financial Leverage

5.3 x5.3 x6.3 x6 x6 x5.9 x6.2 x6.9 x6.6 x

Cash Flow

Annual

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)

Long-term Borrowings

(1.7 b)(2.8 b)(2.5 b)

Dividends Paid

(95.3 m)(114.9 m)(123 m)

Cash From Financing Activities

941.3 m(873.9 m)(2.9 b)

Net Change in Cash

1.1 b1.3 b(1.1 b)

Interest Paid

(1 b)(1.1 b)(1.1 b)

Quarterly

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

Long-term Borrowings

(1.8 b)(2 b)(2.1 b)(499.5 m)(1 b)(2 b)(1.1 b)(7.4 b)(7.6 b)

Dividends Paid

(27.1 m)(53.6 m)(84.4 m)(30.6 m)(61.5 m)(92.3 m)(30.8 m)(61.7 m)(82.4 m)

Cash From Financing Activities

(1.3 b)(988.2 m)(683.3 m)(391.4 m)(901.7 m)(1.9 b)(1.1 b)(11.8 b)(13.5 b)

Net Change in Cash

(668.9 m)(1.5 b)1.3 b(152.1 m)(166.5 m)(890.3 m)(147.4 m)(1.2 b)(3.4 b)

Interest Paid

(324.3 m)(538.3 m)(866.5 m)(335.9 m)(579.9 m)(902.9 m)(315.3 m)(561 m)(776.1 m)

Ratios

USDY, 2017

EV/CFO

39.7 x

Revenue/Employee

174.5 k

Debt/Equity

1.1 x

Debt/Assets

0.2 x

Financial Leverage

6.6 x

Operating Metrics

CIT Group's Total Loans 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

$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

Bank Branches

707070707070

Railcars

134 k117