Accounts Receivable are created when a customer has received a product but has not yet paid for that product. CIT Group's accounts receivables for the quarter that ended in Sep. 2021 was $0 Mil.
Accounts receivable can be measured by Days Sales Outstanding.
CIT Group's Days Sales Outstanding for the quarter that ended in Sep. 2021 was 0.00.
In Ben Graham's calculation of Net-Net Working Capital, accounts receivable are only considered to be worth 75% of book value. CIT Group's Net-Net Working Capital per share for the quarter that ended in Sep. 2021 was $-390.30.
CIT Group Accounts Receivable Historical Data
The historical data trend for CIT Group's Accounts Receivable can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Accounts Receivable is money owed to a business by customers and shown on its Balance Sheet as an asset.
CIT Group Accounts Receivable Explanation
1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's accounts receivables are being managed.
CIT Group's Days Sales Outstanding for the quarter that ended in Sep. 2021 is calculated as:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Be Aware
Net receivables tells us a great deal about the different competitors in the same industry. In competitive industries, some attempt to gain advantage by offering better credit terms, causing increase in sales and receivables.
If company consistently shows lower % Net receivables to gross sales than competitors, then it usually has some kind of competitive advantage which requires further digging.
Average Days Sales Outstanding is a good indicator for measuring a company's sales channel and customers. A company may book great revenue and earnings growth but never receive payment from their customers. This may force a write-off in the future and depress future earnings.
CIT Group Accounts Receivable Related Terms
Thank you for viewing the detailed overview of CIT Group's Accounts Receivable provided by GuruFocus.com. Please click on the following links to see related term pages.
CIT Group Inc is a banking holding company and a financial holding company operating primarily in North America. It provides financing, leasing, and advisory services primarily to middle-market companies in a diverse group of industries. The company's banking subsidiary mostly operates in Southern California and offers both commercial and retail banking services. The company sources its commercial lending business through direct marketing to customers, vendors, and distributors, among other parties. The company generates revenue by earning interest on loans and investments, as well as commission, fees, and rental income on leased equipment and other financial services. The company also syndicates and sells finance receivables.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
Portfolio Contest
CIT has been successfully added to your 