CIT Group's Total Assets for the quarter that ended in Sep. 2021 was $54,420 Mil.
During the past 12 months, CIT Group's average Total Assets Growth Rate was 10.40% per year.
During the past 3 years, the average Total Assets Growth Rate was 4.50% per year.
During the past 5 years, the average Total Assets Growth Rate was -5.30% per year.
During the past 10 years, the average Total Assets Growth Rate was 1.50% per year.
During the past 13 years, CIT Group's highest 3-Year average Total Assets Growth Rate was 19.70%. The lowest was -20.20%. And the median was 1.65%.
Total Assets is connected with ROA %. CIT Group's annualizedROA % for the quarter that ended in Sep. 2021 was 1.29%. Total Assets is also linked to Revenue through Asset Turnover. CIT Group's Asset Turnover for the quarter that ended in Sep. 2021 was 0.01.
CIT Group Total Assets Historical Data
The historical data trend for CIT Group's Total Assets 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.
From the capital sources of the assets, some of the assets are funded through shareholder's paid in capital and retained earnings of the business. Others are funded through borrowed money.
CIT Group's Total Assets for the fiscal year that ended in Dec. 2020 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.
Note:
The Net Income data used here is four times the quarterly (Sep. 2021) data.
In the article Joining The Dark Side: Pirates, Spies and Short Sellers, James Montier reported that In their US sample covering the period 1968-2003, Cooper et al find that firms with low asset growth outperformed firms with high asset growth by an astounding 20% p.a. equally weighted. Even when controlling for market, size and style, low asset growth firms outperformed high asset growth firms by 13% p.a. Therefore a company with fast asset growth may underperform.
Total Assets is linked to total revenue through Asset Turnover.
CIT Group's Asset Turnover for the quarter that ended in Sep. 2021 is
* 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.
Therefore, if a company grows its Total Assets faster than its Revenue, the Asset Turnover will decline. This might be a warning sign for the business.
CIT Group Total Assets Related Terms
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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.
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