CIT Group (CIT Group) Financial Strength : 0 (As of Sep. 2021)

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What is CIT Group Financial Strength?

CIT Group has the Financial Strength Rank of 0.

Warning Sign:

CIT Group Inc displays poor financial strength. Usually this is caused by too much debt for the company.

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors:

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.
2. Debt to revenue ratio. The lower, the better.
3. Altman Z-Score.

GuruFocus does not calculate CIT Group's interest coverage with the available data. CIT Group's debt to revenue ratio for the quarter that ended in Sep. 2021 was 2.07. Altman Z-Score does not apply to banks and insurance companies.

CIT Group Financial Strength Calculation

GuruFocus Financial Strength Rank measures how strong a company's financial situation is. It is based on these factors

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

1. The debt burden that the company has as measured by its Interest Coverage (current year). The higher, the better.

Note: If both Interest Expense and Interest Income are empty, while Net Interest Income is negative, then use Net Interest Income as Interest Expense.

Interest Coverage is a ratio that determines how easily a company can pay interest expenses on outstanding debt. It is calculated by dividing a company's Operating Income (EBIT) by its Interest Expense:

CIT Group's Interest Expense for the months ended in Sep. 2021 was $-103 Mil. Its Operating Income for the months ended in Sep. 2021 was $0 Mil. And its Long-Term Debt & Capital Lease Obligation for the quarter that ended in Sep. 2021 was $4,536 Mil.

CIT Group's Interest Coverage for the quarter that ended in Sep. 2021 is

The higher the ratio, the stronger the company's financial strength is.

2. Debt to revenue ratio. The lower, the better.

CIT Group's Debt to Revenue Ratio for the quarter that ended in Sep. 2021 is

Debt to Revenue Ratio	=	Total Debt (Q: Sep. 2021 )			/	Revenue
	=	(Short-Term Debt & Capital Lease Obligation	+	Long-Term Debt & Capital Lease Obligation)	/	Revenue
	=	(0	+	4536)	/	2188
	=	2.07

3. Altman Z-Score.

Z-Score model is an accurate forecaster of failure up to two years prior to distress. It can be considered the assessment of the distress of industrial corporations.

The zones of discrimination were as such:

When Z-Score is less than 1.81, it is in Distress Zones.
When Z-Score is greater than 2.99, it is in Safe Zones.
When Z-Score is between 1.81 and 2.99, it is in Grey Zones.

Altman Z-Score does not apply to banks and insurance companies.

* 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.

CIT Group (NYSE:CIT) Financial Strength Explanation

The maximum rank is 10. Companies with rank 7 or higher will be unlikely to fall into distressed situations. Companies with rank of 3 or less are likely in financial distress.

CIT Group has the Financial Strength Rank of 0.

CIT Group Financial Strength Related Terms

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CIT Group (CIT Group) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » CIT Group Inc (NYSE:CIT) » Definitions » Financial Strength

Comparable Companies

Traded in Other Exchanges

N/A

Address

11 West 42nd Street, New York, NY, USA, 10036

Website

http://www.cit.com

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.

Executives

John J. Fawcett	officer: EVP and Chief Financial Office	C/O CIT GROUP INC., 1 CIT DRIVE, LIVINGSTON NJ 07039
Wahida Plummer	officer: EVP & Chief Risk Officer	C/O CIT GROUP INC. 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
Marisa Harney	officer: EVP & Chief Credit Officer	C/O CIT GROUP INC., 1 CIT DRIVE, #3251-9, LIVINGSTON NJ 07039
Steve Solk	officer: President, Consumer Banking	C/O CIT GROUP INC., ATTN GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Sheila A Stamps	director	C/O CIT GROUP, 1 CIT DRIVE, ATTN: GENERAL COUNSEL, LIVINGSTON NJ 07039
Michael L. Brosnan	director	C/O CIT GROUP INC. - GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Gina M. Proia	officer: EVP & Head of Marketing	C/O CIT GROUP INC., ATTN GENERAL COUNSEL 1 CIT DRIVE LIVINGSTON NJ 07039
Denise M. Menelly	officer: EVP, Head of Technology & Ops	C/O CIT GROUP INC., 1 CIT DRIVE LIVINGSTON NJ 07039
Edward K Sperling	officer: EVP & Controller	C/O CIT GROUP, 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
Ellen R Alemany	director, officer: Chair & CEO	ONE ADP BOULEVARD, ROSELAND NJ 07068
James J Duffy	officer: EVP & Chief HR Officer	C/O CIT GROUP, 11 WEST 42ND ST. NEW YORK NY 10036
Gerald Rosenfeld	director	C/O CIT GROUP INC., 1 CIT DRIVE, #3251-9, LIVINGSTON NJ 07039
David Harnisch	officer: Pres., Commercial Finance	C/O CIT GROUP, 1 CIT DRIVE LIVINGSTON NJ 07039
Alan L Frank	director	C/O CIT GROUP, 1 CIT DRIVE, #3251-9 LIVINGSTON NJ 07039
John R Ryan	director