Springleaf Evaluation

Springleaf Evaluation

  • Submitted By: woahhkla
  • Date Submitted: 12/25/2015 8:14 PM
  • Category: Business
  • Words: 2092
  • Page: 9

´╗┐Springleaf Financial Evaluation
The company that I chose to evaluate for my final paper is Springleaf Financial. I chose this company because this is where my boyfriend works and I thought it would be interesting to learn more about what his company is about and what he does. I will start off by giving the background information and how the company started up and is now a multimillion dollar company. This paper will also include a financial statement review, Pro Forma financial statement for the next fiscal year assuming there is a 10 percent growth in sales and cost of goods sold, ratio analysis for liquidity, financial leverage, asset management, profitability and market value, a calculation of Return on Equity, and an assessment of management performance. I will end the paper with a synopsis and a recommendation if stock in the company should be bought or not.
Background Information
Springleaf Financial started as Interstate Finance Corporation in 1920 in Evansville, Indiana as an underwriting company for the sales of motor vehicles. By 1929 they expanded the company by writing credit-related insurance as well as opening their first branch outside of Evansville in Washington, Indiana. The company was expanding even more by opening offices in Owensboro and Henderson Kentucky in 1934. Business was starting to pick up and grow with 100 branches open by 1957. By going public, the company continued to grow and expand into several states. In 1963, they changed their name from Interstate Finance Corporation and started operating under the names CrediTheift of America and CreditWay of America. A few years later, in 1969, they were listed on the New York Stock Exchange but later delisted.
The company later acquired two other businesses in 1982 called American General Corporation (also known as AIG today) and General Finance. Along with those purchases came 350 office branches in 16 states. Just six years later and still growing, they purchased Manufacturers...

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