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CION logoCION Investment Corporation(CION)Earnings, Financials & Key Ratios

CION•NYSE•Banking & Credit
$7.80
$401M mkt cap·Price updated May 6, 2026
SectorFinancial ServicesIndustryAsset ManagementSub-IndustryPrivate credit and BDC lenders
AboutCION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies. The firm invests in growth capital, acquisitions, leveraged buyouts, market/product expansion, refinancing and recapitalization. The fund also invests up to 30 percent of their assets opportunistically in other types of investments, including the securities of larger public companies and foreign securities. It also makes investments in the secondary loan market. The fund does not invest in start-up companies, turnaround situations, or companies with speculative business plans. The fund prefers to invest in high tech industries, healthcare, pharmaceuticals, business services, media, chemicals, plastic, rubber, telecommunication, consumer services, advertising, printing and publishing, consumer goods, durables, diversified financials, and other industries. It also invests in homebuilding, restaurants, beverage and tobacco bars, broadcasting, distributors, Non-durable good distribution, food beverage and tobacco, energy, oil gas and consumables fuels, insurance, aerospace and defense, industrial machinery, paper and forest product machinery, information technology, metals and mining, and real estate. It primarily seeks to invest in the United States. The fund seeks to invest between $5 million and $50 million in companies with an EBITDA between $25 million and $75 million with average targeted hold of $25 million. It also purchases minority interests in the form of common or preferred equity in the target companies, typically in conjunction with its debt investments or through a co-investment with a financial sponsor. The fund seeks to exit its investments through an initial public offering of common stock, a merger, a sale, or other recapitalization.Show more
  • Net Interest Income$130M+88.9%
  • Total Revenue$201M+40.9%
  • Net Income-$21M-160.9%
  • Return on Equity-4.93%-223.6%
  • Net Interest Margin235.85%+6558.8%
  • Efficiency Ratio39.72%+375.1%
  • ROA-2.06%-220.1%
  • Equity / Assets29.15%-30.9%
  • Book Value per Share0.31-98.0%
  • Tangible BV/Share0.31-98.0%
  • Debt/Equity69.94+5123.0%
Technical→

CION Key Insights

CION Investment Corporation (CION) fundamental analysis — strengths, weaknesses & financial health based on data analysis

✓Strengths

  • ✓Strong NIM of 235.8%
  • ✓Efficient operations: 39.7% efficiency ratio
  • ✓Well capitalized: 29.1% equity/assets
  • ✓Share count reduced 2.3% through buybacks

✗Weaknesses

  • ✗High debt to equity ratio of 69.9x
  • ✗Weak 3Y average ROE of 3.3%
  • ✗Expensive at 25.4x book value

* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.

CION Price & Volume

CION Investment Corporation (CION) stock price & volume — 10-year historical chart

Loading chart...

CION Growth Metrics

CION Investment Corporation (CION) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years32.82%
5 Years42.18%
3 Years22.02%
TTM-

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-160.85%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-137.5%

Return on Capital

10 Years4.41%
5 Years4.72%
3 Years4.58%
Last Year7.02%

CION Recent Earnings

CION Investment Corporation (CION) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 6/12 qtrs (50%)●Beat Revenue 4/12 qtrs (33%)
Q2 2026Latest
Mar 12, 2026
EPS
$0.35
Est $0.39
-10.3%
Revenue
$54M
Est $52M
+3.9%
Q4 2025
Nov 6, 2025
EPS
$0.74
Est $0.35
+111.4%
Revenue
$61M
Est $52M
+17.0%
Q3 2025
Aug 7, 2025
EPS
$0.32
Est $0.34
-5.9%
Revenue
$20M
Est $51M
-61.4%
Q2 2025
May 8, 2025
EPS
$0.36
Est $0.37
-2.7%
Revenue
$17M
Est $54M
-130.4%
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMar 12, 2026
$0.35vs $0.39-10.3%
$54Mvs $52M+3.9%
Q4 2025Nov 6, 2025
$0.74vs $0.35+111.4%
$61Mvs $52M+17.0%
Q3 2025Aug 7, 2025
$0.32vs $0.34-5.9%
$20Mvs $51M-61.4%
Q2 2025May 8, 2025
$0.36vs $0.37-2.7%
$17Mvs $54M-130.4%
Based on last 12 quarters of dataView full earnings history →

CION Peer Comparison

CION Investment Corporation (CION) competitors in Private credit and BDC lenders — business model, growth, and fundamentals comparison

Select Columns
Stock Universe
Valuation
Growth
Profitability
Financial Health
Dividends & Buybacks
Price Performance
Technical
Fundamentals ($)
Sector-Specific
CompanyMarket CapStock PriceP/E Ratio (TTM)Revenue Growth 1YNet MarginReturn on Equity (ROE)FCF YieldDebt / Equity
ARCC logoARCCAres Capital CorporationDirect Competitor13.76B19.1610.3032.87%8.11%1.12
GBDC logoGBDCGolub Capital BDC, Inc.Direct Competitor3.47B13.319.3742.5%5.24%1.23
SLRC logoSLRCSLR Investment Corp.Direct Competitor761.04M13.958.2124.76%7.31%1.15
CGBD logoCGBDCarlyle Secured Lending, Inc.Direct Competitor866.09M11.887.52-2.92%6.2%1.07
TPVG logoTPVGTriplePoint Venture Growth BDC Corp.Direct Competitor225.54M5.574.5736.55%13.09%1.33
PFLT logoPFLTPennantPark Floating Rate Capital Ltd.Direct Competitor913.8M9.2112.792.2%3.23%1.65
OCSL logoOCSLOaktree Specialty Lending CorporationDirect Competitor1.1B12.5132.0860.93%3.45%1.01
FSK logoFSKFS KKR Capital Corp.Product Competitor3.2B11.42290.595.5%0.18%1.31

Compare CION vs Peers

CION Investment Corporation (CION) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs ARCC

Most directly comparable listed peer for CION.

Scale Benchmark

vs BX

Larger-name benchmark to compare CION against a more recognizable public peer.

Peer Set

Compare Top 5

vs ARCC, GBDC, SLRC, CGBD

CION Income Statement

CION Investment Corporation (CION) annual income statement — 10-year revenue, gross profit & net income history

10Y historyFree accessUpdated daily
Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Net Interest Income122.43M139.88M142.06M115.6M113.67M134.27M145.35M68.92M130.21M
NII Growth %56.94%14.25%1.56%-18.63%-1.67%18.12%8.25%-52.59%88.94%
Net Interest Margin %6.74%7.34%7.85%7.16%6.38%7.17%7.26%3.54%235.85%
Interest Income145.5M185.5M191.59M152.44M145.48M183.9M230.91M165.79M220.75M
Interest Expense23.07M45.62M49.53M36.84M31.81M49.62M85.56M96.87M90.54M
Loan Loss Provision00000000-39.05M
Non-Interest Income-27.25M-99.42M-82.51M-117.81M18.31M-73.13M-38.74M-22.97M-19.5M
Non-Interest Income %-23.05%-115.49%-75.64%-340.15%11.18%-66.03%-20.16%-16.08%-9.69%
Total Revenue
118.25M▲ 0%
86.08M▼ 27.2%
109.08M▲ 26.7%
34.63M▼ 68.3%
163.79M▲ 372.9%
110.76M▼ 32.4%
192.17M▲ 73.5%
142.82M▼ 25.7%
201.25M▲ 40.9%
Revenue Growth %-10.73%-27.2%26.72%-68.25%372.92%-32.37%73.5%-25.68%40.91%
Non-Interest Expense9.28M9.15M7.7M8.55M12.87M10.63M11.35M11.94M79.94M
Efficiency Ratio7.84%10.63%7.05%24.69%7.86%9.59%5.91%8.36%39.72%
Operating Income
85.9M▲ 0%
31.31M▼ 63.6%
51.86M▲ 65.6%
-10.75M▼ 120.7%
119.11M▲ 1207.6%
50.51M▼ 57.6%
95.26M▲ 88.6%
34.01M▼ 64.3%
69.82M▲ 105.3%
Operating Margin %72.64%36.37%47.54%-31.05%72.72%45.6%49.57%23.81%34.69%
Operating Income Growth %-28.22%-63.55%65.62%-120.74%1207.55%-57.59%88.59%-64.3%105.31%
Pretax Income
85.9M▲ 0%
31.31M▼ 63.6%
51.86M▲ 65.6%
-10.75M▼ 120.7%
119.11M▲ 1207.6%
50.51M▼ 57.6%
95.26M▲ 88.6%
34.01M▼ 64.3%
-20.72M▼ 160.9%
Pretax Margin %72.64%36.37%47.54%-31.05%72.72%45.6%49.57%23.81%-10.29%
Income Tax0012K268K342K372K-54K107K-85K
Effective Tax Rate %0%0%0.02%-2.49%0.29%0.74%-0.06%0.31%0.41%
Net Income
85.9M▲ 0%
31.31M▼ 63.6%
51.84M▲ 65.6%
-11.02M▼ 121.3%
118.76M▲ 1177.5%
50.14M▼ 57.8%
95.31M▲ 90.1%
33.9M▼ 64.4%
-20.63M▼ 160.9%
Net Margin %72.64%36.37%47.53%-31.83%72.51%45.27%49.6%23.74%-10.25%
Net Income Growth %-28.22%-63.55%65.58%-121.26%1177.52%-57.78%90.09%-64.43%-160.85%
Net Income (Continuing)85.9M31.31M51.84M-11.02M118.76M50.14M95.31M33.9M-20.63M
EPS (Diluted)
1.54▲ 0%
0.55▼ 64.3%
0.92▲ 67.3%
-0.19▼ 120.7%
2.09▲ 1200.0%
0.89▼ 57.4%
1.74▲ 95.5%
0.63▼ 63.8%
-0.39▼ 161.9%
EPS Growth %-31.86%-64.29%67.27%-120.65%1200%-57.42%95.51%-63.79%-161.9%
EPS (Basic)1.540.550.92-0.192.090.891.740.63-0.39
Diluted Shares Outstanding56.13M57.07M56.85M56.82M56.81M56.56M54.69M53.56M52.34M

CION Balance Sheet

CION Investment Corporation (CION) balance sheet — assets, liabilities & shareholders' equity

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash & Short Term Investments56.35M17.58M6.13M19.91M3.77M82.74M8.41M7.67M124.17M
Cash & Due from Banks56.35M17.58M6.13M19.91M3.77M82.74M8.41M7.67M8.16M
Short Term Investments00000000116.01M
Total Investments000000001.81B
Investments Growth %-100%--------
Long-Term Investments000000001.7B
Accounts Receivables41.96M23.38M38.2M23.72M24.4M28.82M37.69M48.1M0
Goodwill & Intangibles000000000
Goodwill000000000
Intangible Assets000000000
PP&E (Net)000000000
Other Assets1.71B1.87B1.77B1.57B1.75B1.76B1.95B1.89B-1.64B
Total Current Assets101.73M41.15M45.32M45.42M28.64M112.38M47.45M55.77M67K
Total Non-Current Assets1.71B1.87B1.77B1.57B1.75B1.76B1.95B1.89B55.14M
Total Assets
1.82B▲ 0%
1.91B▲ 5.0%
1.81B▼ 5.0%
1.61B▼ 10.8%
1.78B▲ 10.4%
1.87B▲ 5.0%
2B▲ 6.9%
1.95B▼ 2.8%
55.21M▼ 97.2%
Asset Growth %44%4.99%-5.04%-10.8%10.4%5.03%6.91%-2.8%-97.16%
Return on Assets (ROA)5.58%1.68%2.79%-0.64%6.99%2.74%4.92%1.72%-2.06%
Accounts Payable40.18M21.75M5.55M3.33M17.59M23.76M26.8M12.96M0
Total Debt705.45M892.62M836.59M719.96M822.37M951.32M1.08B1.1B1.13B
Net Debt649.09M875.04M830.45M700.04M818.6M868.58M1.07B1.09B1.12B
Long-Term Debt705.45M892.62M836.59M719.96M822.37M951.32M1.08B1.1B1.13B
Short-Term Debt0000000027K
Other Liabilities11.6M12.82M15.7M13.26M12.21M13.69M13.66M12.77M21.57M
Total Current Liabilities40.18M21.75M5.55M3.33M17.59M23.76M26.8M12.96M27K
Total Non-Current Liabilities717.05M905.44M852.28M733.21M834.58M965.01M1.1B1.11B1.15B
Total Liabilities757.23M927.19M857.83M736.54M852.17M988.78M1.12B1.12B39.12M
Total Equity
1.06B▲ 0%
979.27M▼ 7.5%
952.56M▼ 2.7%
878.26M▼ 7.8%
930.51M▲ 5.9%
883.63M▼ 5.0%
879.56M▼ 0.5%
820.81M▼ 6.7%
16.09M▼ 98.0%
Equity Growth %5.89%-7.5%-2.73%-7.8%5.95%-5.04%-0.46%-6.68%-98.04%
Equity / Assets (Capital Ratio)58.3%51.37%52.62%54.39%52.2%47.19%43.94%42.19%29.15%
Return on Equity (ROE)8.35%3.07%5.37%-1.2%13.13%5.53%10.81%3.99%-4.93%
Book Value per Share18.8617.1616.7515.4616.3815.6216.0815.320.31
Tangible BV per Share18.8617.1616.7515.4616.3815.6216.0815.320.31
Common Stock116K113K113K57K57K55K54K53K51K
Additional Paid-in Capital1.08B1.05B1.05B1.05B1.06B1.04B1.03B1.02B1B
Retained Earnings-17.56M-69.53M-102.46M-176.77M-129.53M-160.97M-153.52M-200.93M-296.92M
Accumulated OCI000000000
Treasury Stock000000000
Preferred Stock000000000

CION Cash Flow Statement

CION Investment Corporation (CION) cash flow — operating, investing & free cash flow history

Line itemDec'17Dec'18Dec'19Dec'20Dec'21Dec'22Dec'23Dec'24Dec'25
Cash from Operations-413.63M-114.58M126.04M198.73M-49.25M35.28M55.38M88.19M20.3M
Operating CF Growth %-83.05%72.3%210%57.68%-124.78%171.63%56.98%59.25%-76.99%
Net Income85.9M31.31M51.84M-11.02M118.76M50.14M95.31M33.9M0
Depreciation & Amortization-9.45M53.25M10.55M19.88M-43.62M5.31M033.65M74.1M
Deferred Taxes000000000
Other Non-Cash Items-628.78M-201.28M92.44M179.77M-137.92M-10.29M-31.46M39.63M-51.37M
Working Capital Changes138.69M2.14M-28.8M10.1M13.52M-9.89M-8.47M-18.99M-2.44M
Cash from Investing-1.03B-1.02B-318.19M-282M-660.99M-487.95M-49.95M0103.73M
Purchase of Investments-1.42B-1.28B-563.88M-359.63M-920.04M-550.54M-350.2M-464.05M-264M
Sale/Maturity of Investments1000K1000K1000K1000K1000K1000K1000K1000K1000K
Net Investment Activity-1.42B-1.28B-562.88M-358.63M-919.04M-549.54M-349.2M-463.05M-263M
Acquisitions000000000
Other Investing0000000421.19M349.21M
Cash from Financing452.94M75.8M-137.48M-184.95M33.11M43.69M22.83M-88.94M-76.34M
Dividends Paid-42.4M-44.75M-48.97M-39.98M-56.04M-66.64M-91.96M-89.48M-52.18M
Share Repurchases-40.41M-97.04M-35.8M-23.3M-10.47M-15.44M-11.52M-11.35M-17.19M
Stock Issued58.03M32.23M6.51M000000
Net Stock Activity17.63M-64.81M-29.28M-23.3M-10.47M-15.44M-11.52M-11.35M-17.19M
Debt Issuance (Net)1000K1000K-1000K-1000K1000K1000K1000K1000K1000K
Other Financing-9.32M30.52M-1.72M-5.63M-5.38M-1.73M0-13.11M-25.85M
Net Change in Cash
39.31M▲ 0%
-38.77M▼ 198.6%
-11.44M▲ 70.5%
13.78M▲ 220.4%
-16.14M▼ 217.1%
78.97M▲ 589.3%
-74.32M▼ 194.1%
-745K▲ 99.0%
489K▲ 165.6%
Exchange Rate Effect1000K1000K1000K1000K1000K1000K-1000K0-1000K
Cash at Beginning17.05M56.35M17.58M6.13M19.91M3.77M82.74M8.41M7.67M
Cash at End56.35M17.58M6.13M19.91M3.77M82.74M8.41M7.67M8.16M
Interest Paid000000000
Income Taxes Paid000000000
Free Cash Flow
-413.63M▲ 0%
-114.58M▲ 72.3%
126.04M▲ 210.0%
198.73M▲ 57.7%
-49.25M▼ 124.8%
35.28M▲ 171.6%
55.38M▲ 57.0%
88.19M▲ 59.3%
76.83M▼ 12.9%
FCF Growth %-83.05%72.3%210%57.68%-124.78%171.63%56.98%59.25%-12.88%

CION Banking Ratios

CION Investment Corporation (CION) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios

Metric2016201720182019202020212022202320242025
Return on Equity (ROE)12.57%8.35%3.07%5.37%-1.2%13.13%5.53%10.81%3.99%-4.93%
Return on Assets (ROA)10.8%5.58%1.68%2.79%-0.64%6.99%2.74%4.92%1.72%-2.06%
Net Interest Margin6.19%6.74%7.34%7.85%7.16%6.38%7.17%7.26%3.54%235.85%
Efficiency Ratio6.96%7.84%10.63%7.05%24.69%7.86%9.59%5.91%8.36%39.72%
Equity / Assets79.28%58.3%51.37%52.62%54.39%52.2%47.19%43.94%42.19%29.15%
Book Value / Share18.8718.8617.1616.7515.4616.3815.6216.0815.320.31
NII Growth51.21%56.94%14.25%1.56%-18.63%-1.67%18.12%8.25%-52.59%88.94%
Dividend Payout32.1%49.36%142.93%94.46%-47.19%132.91%-131.38%-

CION SEC Filings & Documents

CION Investment Corporation (CION) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

Apr 6, 2026·SEC

Material company update

Mar 12, 2026·SEC

Material company update

Feb 24, 2026·SEC

10-K Annual Reports

2
FY 2026

Mar 12, 2026·SEC

FY 2025

Mar 13, 2025·SEC

10-Q Quarterly Reports

6
FY 2025

Nov 6, 2025·SEC

FY 2025

Aug 7, 2025·SEC

FY 2025

May 8, 2025·SEC

CION Frequently Asked Questions

CION Investment Corporation (CION) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials

CION Investment Corporation (CION) grew revenue by 40.9% over the past year. This is strong growth.

CION Investment Corporation (CION) reported a net loss of $20.6M for fiscal year 2025.

Dividend & Returns

Yes, CION Investment Corporation (CION) pays a dividend with a yield of 12.78%. This makes it attractive for income-focused investors.

CION Investment Corporation (CION) has a return on equity (ROE) of -4.9%. Negative ROE indicates the company is unprofitable.

Industry Metrics

CION Investment Corporation (CION) has a net interest margin (NIM) of 235.8%. This indicates healthy earnings from lending activities.

CION Investment Corporation (CION) has an efficiency ratio of 39.7%. This is excellent, indicating strong cost control.

Explore More CION

CION Investment Corporation (CION) financial analysis — history, returns, DCA and operating performance tools

Total Return Calculator

Historical returns with dividends reinvested

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DCA Calculator

Dollar cost averaging vs lump sum

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Dividend History

Yield, growth, payout safety & DRIP

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Earnings History

EPS trends, net income & profitability

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Price History

Long-term charts & historical price data

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Revenue History

Sales growth patterns & revenue breakdown

→

Financial Ratios

30 years of market, efficiency and balance-sheet ratios

→

Valuation

DCF intrinsic value, peer multiples & estimates

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