As of today (2024-04-26), CIT Group's share price is $53.50. CIT Group's Tangible Book per Share of Sep. 2021 for the quarter that ended in Sep. 2021 was $55.86. Hence, CIT Group's Price to Tangible Book Ratio of today is 0.96.
The historical rank and industry rank for CIT Group's Price-to-Tangible-Book or its related term are showing as below:
CIT'
s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 0.34 Med: 0.97 Max: 1.21
Current: 0.96
During the past 13 years, CIT Group's highest Price to Tangible Book Ratio was 1.21. The lowest was 0.34. And the median was 0.97.
CIT's Price-to-Tangible-Book is not ranked
in the Banks industry.
Industry Median: 0.93
vs CIT: 0.96
A closely related ratio is called PB Ratio. As of today, CIT Group's share price is $53.50. CIT Group's Book Value per Sharefor the quarter that ended in Sep. 2021 was $56.97. Hence, CIT Group's P/B Ratio of today is 0.94.
CIT Group Price-to-Tangible-Book Historical Data
The historical data trend for CIT Group's Price-to-Tangible-Book 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.
Competitive Comparison of CIT Group's Price-to-Tangible-Book
For the Banks - Regional subindustry, CIT Group's Price-to-Tangible-Book, along with its competitors' market caps and Price-to-Tangible-Book data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
CIT Group's Price-to-Tangible-Book Distribution in the Banks Industry
For the Banks industry and Financial Services sector, CIT Group's Price-to-Tangible-Book distribution charts can be found below:
* The bar in red indicates where CIT Group's Price-to-Tangible-Book falls into.
CIT Group Price-to-Tangible-Book Calculation
CIT Group's price-to-tangible-book ratio for today 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.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called PB Ratio. The difference between Price-to-Tangible-Book Ratio and PB Ratio is that book value other than intangibles are used in the calculation.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The Price-to-Book Ratio does not work well for these companies. Some companies even have negative equity, so the Price-to-Book Ratio cannot be applied to them.
CIT Group Price-to-Tangible-Book Related Terms
Thank you for viewing the detailed overview of CIT Group's Price-to-Tangible-Book 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.
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