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CION Investment Corporation

CION Financial Asset Management

CION Investment Corporation’s revenue for fiscal 2025 (year ended December 2025) was $240.8 million, down 4.60% from fiscal 2024. In the quarter to June 2026, revenue fell 4.69%, EPS grew 19.2% and free cash flow fell 50.3%, each against the same quarter a year earlier.

6.60 0.24 −3.51%
Market cap
$341.5M
P/E
110×
Fwd P/E
20.1×
Dividend yield
23.6%
F-score
4/9
Altman Z
n/a
Beneish M
n/a
Dividend safety
n/a
Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Dec 25 Mar 26 Jun 26 Sep 26
Buy — — — — — — — — — — — —
Sell — — — — — — — — — — — —
Insider Ownership 1.83%

Capital & Financial Ratios $m

Market Cap 341.46
Revenue 231.83
Net Income 2.71
Free Cash Flow 44.32
Net Debt (7.66)
Current Ratio 0.04
Debt/Equity 0.00
P/E ratio 110.00 (above 35: high)
Fwd P/E 20.10
P/S ratio 1.41
P/B ratio 0.49
Past 5Y EPS Growth —
This Y EPS Growth (36.52%) (below 0%: weak)
Next Y EPS Growth 1.33%
Next Y revenue growth (19.61%) (below 0%: weak)
Next 5Y EPS Growth (18.32%) (below 0%: weak)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

P/E against its own 10 years 95.07%
10-year low 10-year high
P/S against its own 10 years 2.61%
10-year low 10-year high
P/B against its own 10 years 2.69%
10-year low 10-year high

Dividends

Payout Ratio 26.00
Annual Dividend Rate 1.56
Annual Dividend Yield 23.64%
total individual payouts
2028 Powerpack
2027 Powerpack
2026 1.20
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
0.10
2025 1.44
0.36
0.36
0.36
0.36
2024 1.42
0.34
0.36
0.05
0.36
0.36
0.05
2023 1.41
0.34
0.34
0.34
0.05
0.34
0.15
0.05
2022 1.18
0.28
0.28
0.31
0.31
0.27
2021 0.52
0.52
0.40
2020 Powerpack
2019 Powerpack
2018 Powerpack
predictions special payouts not included in total or ratios

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 8 8 8 8
Receivables 37 45 28 35
Inventory — — — —
Other — — — —
46 54 38 45
2023 2024 2025 Q'26
Payables 1 1 1 1
ST’ Debt — — — —
Other 1,082 1,099 1,126 1,160
1,098 1,109 1,135 1,169

Compound Annual Growth %

10y 5y 3y
Sales — 8.01% 7.31%
Cash Flow — (17.31%) 29.62%
Earnings — 0.00% 0.00%
Book Value — (4.23%) (7.14%)

Revenue $m

Mar Jun Sep Dec Year
’26 50 50 — — —
’25 56 52 79 54 241
’24 74 61 60 58 252
’23 65 58 68 60 251
’22 42 44 54 56 195
’21 36 38 43 40 157
’20 — 25 39 31 164
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 (5) 22 — — —
’25 6 43 44 (17) 77
’24 96 (17) 52 (43) 88
’23 0 (36) (7) (55) (97)
’22 (15) (30) 15 65 35
’21 1 (64) 11 3 (49)
’20 — (9) 147 52 199
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 (5) 22 — — —
’25 6 43 44 (17) 77
’24 96 (17) 52 (43) 88
’23 0 (36) (7) (55) (97)
’22 (15) (30) 15 65 35
’21 1 (64) 11 3 (49)
’20 — (9) 147 52 199
Fiscal quarters ending in the months shown.

EPS $

Mar Jun Sep Dec Year
’26 (0.45) 0.62 — — —
’25 (0.80) 0.52 0.69 (0.80) (0.39)
’24 0.12 0.42 (0.01) 0.10 0.63
’23 (0.56) 0.51 0.87 0.94 1.74
’22 0.14 (0.02) 0.60 0.17 0.89
’21 0.88 0.49 0.44 0.28 2.09
’20 — 0.29 0.55 0.83 (0.19)
Fiscal quarters ending in the months shown.

Target Price Range

Analyst price targets

Recommendation Rating

3
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Trend 2026e 2027e 2028e
Price, $
Price, $ Low — — — — — 11.09 7.83 8.99 10.52 8.51

Analyst estimates 2026–2028

Powerpack
High — — — — — 15.09 15.09 11.75 12.69 12.71
People
People Employees — — — — — — — — — —
Revenue/emp, $m 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Income, $m
Income, $m Revenue 111 126 183 201 164 157 195 251 252 241
Gross margin, % 0.00 0.00 0.00 100.00 100.00 100.00 100.00 100.00 100.00 100.00
EBT 120 86 31 87 79 75 89 105 96 93
EBT margin, % 107.36 68.17 17.16 43.42 48.21 47.44 45.45 41.82 38.02 38.60
Net income 120 0 31 52 (11) 119 50 95 34 (21)
Depreciation — — — 3 5 3 3 4 6 8
Per share, $
Per share, $ Revenue 2.10 2.25 3.20 3.54 2.88 2.77 3.45 4.59 4.71 4.60
Earnings 2.26 1.54 0.54 0.91 (0.19) 2.09 0.89 1.74 0.63 (0.39)
Cash flow 1.56 3.47 1.33 2.22 3.50 (0.87) 0.62 (1.78) 1.65 1.47
Capex 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Free cash flow 1.56 3.47 1.33 2.22 3.50 (0.87) 0.62 (1.78) 1.65 1.47
Book value 18.88 18.87 17.15 0.00 15.46 16.38 15.62 16.08 15.32 13.52
Shares, m 53 56 57 57 57 57 57 55 54 52
Valuation, ×
Valuation, × P/E 4.51 4.51 4.51 4.51 4.51 6.26 11.20 6.34 18.01 0.00
P/S 4.54 4.54 4.54 4.54 4.54 4.72 2.89 2.43 2.42 2.10
P/B 0.71 0.71 0.71 0.71 0.71 0.80 0.64 0.69 0.74 0.72
EV/Sales 4.53 4.53 4.53 4.53 4.53 4.69 2.47 2.40 2.39 2.07
EV/FCF (1,464.22) (1,464.22) (1,464.22) (1,464.22) (1,464.22) (15.00) 13.64 (6.19) 6.84 6.48
Cash, $m
Cash, $m Operating cash flow 83 195 76 126 199 (49) 35 (97) 88 77
Capex — — — — — — — — — —
Free cash flow 83 195 76 126 199 (49) 35 (97) 88 77
Balance, $m
Balance, $m Working capital — — — — (684) (814) (850) (1,051) (1,055) (1,097)
Total debt 221 705 893 837 720 822 951 — — —
Net debt (10) 442 863 (36) (20) (4) (83) (8) (8) (8)
Shareholders’ equity 1,000 1,059 979 — 878 931 884 880 821 708
Returns, %
Returns, % ROA 7.78 13.62 1.98 5.44 (0.63) 6.99 2.74 4.92 1.72 (1.09)
ROIC 0.00 0.00 0.00 0.00 5.75 5.03 6.91 7.53 7.38 8.31
ROE 11.62 8.34 3.07 5.37 (1.20) 13.13 5.53 10.81 3.99 (2.70)
Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

CION Investment Corporation vs peers in Asset Management (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
GLAD Gladstone Capital Corporation $436.7M 8.8× 10.0× +13.10% (above 0%: growing) +78.79% (above 0%: growing) −280.73% (below 0%: shrinking) 100.00% 71.30% Compare
ALTI AlTi Global, Inc. $360.2M — (loss-making) 49.7× +10.78% (above 0%: growing) n/m +84.23% (above 0%: growing) 100.00% (18.70%) Compare
TCPC BLACKROCK TCP CAPITAL CORP. $354.1M — (loss-making) 9.4× −22.23% (below 0%: shrinking) n/m +330.05% (above 0%: growing) 100.00% 82.80% Compare
CION CION Investment Corporation $341.5M 110× 20.1× −4.69% (below 0%: shrinking) +19.23% (above 0%: growing) −50.31% (below 0%: shrinking) 100.00% 28.47%
CCAP Crescent Capital BDC, Inc. $336.4M — (loss-making) 15.9× −15.51% (below 0%: shrinking) n/m −72.97% (below 0%: shrinking) 59.08% 37.45% Compare
HRZN Horizon Technology Finance Corporation $307.7M 10.7× 8.5× +2.14% (above 0%: growing) n/m +149.05% (above 0%: growing) 100.00% 93.70% Compare
PSBD Palmer Square Capital BDC Inc. $299.2M — (loss-making) — (loss-making) −13.83% (below 0%: shrinking) +22.73% (above 0%: growing) −48.13% (below 0%: shrinking) 100.00% 83.11% Compare
RWAY Runway Growth Finance Corp. $273.3M 57.5× — (loss-making) +5.35% (above 0%: growing) +44.44% (above 0%: growing) −65,337.04% (below 0%: shrinking) 100.00% 84.24% Compare
SAR Saratoga Investment Corp $236.8M — (loss-making) 10.0× +1.77% (above 0%: growing) n/m −43.85% (below 0%: shrinking) 100.00% 68.55% Compare
Median of peers $322.0M 10.7× 10.0× +1.95% +44.44% −45.99% 100.00% 77.05%

All 120 Asset Management stocks →

CION Investment Corporation (CION) key facts

  • Concern: CION Investment Corporation’s revenue for fiscal 2025 (year ended December 2025) was $240.8 million, down 4.60% from fiscal 2024.
  • CION Investment Corporation (CION) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
  • As of October 16, 2026, CION traded at $6.60, a market capitalization of $341.5 million.
  • CION Investment Corporation pays an annual dividend of $1.56 per share, a yield of 23.6%.
  • Return on equity was −2.70% and debt-to-equity 0.00.
  • Its Piotroski F-score is 4 out of 9 for fiscal 2025.

Source: company filings (standardised) and stockrow calculations.

CION Investment Corporation (CION) Latest News

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stockrow.com/CION · Data as of Jun 30, 2026 · For information only; not investment advice. · © 2026 stockrow.com