Ally Financial, a prominent player in the Fortune 500 list, stands as a diversified financial giant headquartered in Detroit, U.S. Led by CEO Jeffrey J. Brown, this publicly traded company with the ticker symbol ALLY boasts revenues of $12.199 billion and profits of $1.714 billion as of the last fiscal year. The company's market value as of March 31, 2023, stands at $7.668 billion, supported by a workforce of approximately 11,600 employees.
Now, delving into the financial intricacies, Ally Financial's key financials exhibit substantial changes over the past few years. In the latest fiscal year, there's been a notable 14.1% increase in revenues, while profits faced a 44% decrease, attributing to a profit as a percentage of revenues at 14.1%. The profit ratios, depicting profits concerning assets and stockholder equity, portray percentages at 0.9% and 13.3%, respectively.
The earnings per share (EPS) for the last fiscal year amounted to $503, marking a significant decrease of 38.8% from the previous year, but showcasing a positive 5-year annual rate change of 19.8%. However, the total return to investors in 2022 suffered a substantial decline of 46.9%, with a negative annualized return over the past 5 years at -1%.
Looking at historical data, Ally Financial's financial performance has seen fluctuations. In 2022, revenues experienced a slight decrease of 0.8%, while profits soared by an astonishing 182%, but these figures took a downturn in 2023 with revenues bouncing back up by 14.1% yet profits plunging by 44%. The company's assets and total stockholder equity have also undergone variations in recent years.
Ally Financial has earned recognition in various rankings, including America's Most Innovative Companies, Best Large Workplaces in Financial Services and Insurance, and Fortune's Best Companies to Work For, underscoring its commitment to innovation and employee satisfaction.
The recent news surrounding Ally Financial highlights its strategic move to eliminate overdraft fees, exerting pressure on major banks while showcasing its CEO's emphasis on innovation and providing insights into car purchasing and leadership qualities.
Analyzing Ally Financial's financial dynamics and its strategic moves, it's evident that despite fluctuations in profits and market performance, the company remains a pivotal force in the financial sector, constantly evolving and innovating to maintain its competitive edge.
With approximately $180.4 billion in assets as of June 30, 2019, Ally was ranked #303 on the most recent Fortune 500 Listing of the largest companies in the United States.
Ally Bank operates online and offers checking accounts, savings accounts, money market accounts, certificates of deposit, credit cards, mortgages, auto loans and investment products. Ally had $186.1 billion in assets as of Dec.31, 2023, ranking it No. 21 among American banks.
The top-ranked companies for 2023 and 2022 are listed below. Walmart has topped the list for the past 11 consecutive years. The 2024 list will be announced in late May.
As of December 31, 2021, Ally Bank exceeds required minimum regulatory capital ratios with a Common Equity Tier 1 ratio of 12.39%, Tier 1 Capital ratio of 12.39%, Total Capital ratio of 13.64%, and a Tier 1 Leverage ratio of 10.12%.
Yes, Ally is safe to use for online banking. It's an FDIC-insured financial institution, so up to $250,000 per depositor per ownership category is secure in a bank account.
The CFPB ordered Ally Financial Inc. and Ally Bank to pay $80 million in damages to African-American, Hispanic, and Asian and Pacific Islander consumers harmed by Ally's discriminatory auto loan pricing, and $18 million in civil money penalties.
The Fortune 100 is an annual list of the top 20% companies within the Fortune 500 List, which is the 500 largest U.S. companies published by Fortune magazine.
For companies meeting this criteria, there's a challenge to be eligible for the list. Every year, Fortune sets a revenue threshold for companies to meet to be considered for the list. In 2022, all listees had to have made at least $7.24 billion in revenue.
Consider Ally Financial (NYSE: ALLY). Warren Buffett's conglomerate owns 9.6% of the digital bank's shares outstanding. But the stake represents just 0.3% of Berkshire's entire portfolio, making it a tiny position.
Stable Funding and Liquidity: Since the pandemic, Ally's gross loans to deposits improved to 90%, with deposits at 87% of funding vs. 75% pre-pandemic, providing headroom in its rating category. Ally's deposit balances grew in the Spring 2023 flight to quality, with 92% FDIC-insured.
The term Fortune 500 refers to a list of 500 of the largest companies in the United States compiled by Fortune magazine every year. Companies are ranked by their annual revenues for their respective fiscal years. This list includes both public and private companies using publicly available revenue data.
Ally Financial Gains as Quarterly Results Beat Estimates
Adjusted earnings per share for the first three months of the year were 45 cents, more than Wall Street's 33-cent consensus estimate. Revenue of $1.99 billion beat the average estimate of $1.96 billion; a year earlier, revenue was $2.05 billion.
The Fortune 500 is a list of the 500 largest companies in the United States, ranked by revenue using publicly available data. Private companies that don't file regular financial reports are excluded, but members of the S&P 500 that do business in the United States are not.
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