(CION) Cion Investment - Ratings and Ratios

Exchange: NYSE • Country: United States • Currency: USD • Type: Common Stock • ISIN: US17259U2042

Senior Loans, Equity Warrants, Corporate Bonds, Secondary Debt, Middle-Market

Asset Management & Custody Banks
Market Cap in USD: 501m

IPO / Inception: 2021-10-05
12m vs SPY: -16.6%

EPS (Earnings per Share)

EPS CAGR: -44.65%
EPS Trend: -12.0%

Last SUE: -2.55
Qual. Beats: 0

Revenue

Rev. CAGR: 24.02%
Rev. Trend: -4.4%

Last SUE: 0.22
Qual. Beats: 0

Dividends

Dividend Yield	14.60%
Yield on Cost 5y	26.69%
Yield CAGR 5y	33.02%
Payout Consistency	98.2%
Payout Ratio	61.5%

Risk via 5d forecast
Volatility	22.8%
Value at Risk 5%th	36.7%
Relative Tail Risk	-1.98%

Reward TTM
Sharpe Ratio	-0.09
Alpha	-14.89
CAGR/Max DD	0.43

Character TTM
Hurst Exponent	0.391
Beta	0.653
Beta Downside	0.877

Drawdowns 3y
Max DD	28.46%
Mean DD	7.04%
Median DD	4.46%

Description: CION Cion Investment December 27, 2025

CION Investment Corp. (NYSE:CION) is a Business Development Company that focuses on senior secured loan investments-ranging from unitranche and first-lien to mezzanine structures-in U.S. middle-market companies, typically deploying $5-$50 million per deal into firms with $25-$75 million of EBITDA.

In addition to debt, CION may take up to 30 % of its capital for equity-linked instruments (warrants, options) and selective public-equity or foreign-security positions, and it also trades in the secondary loan market. The firm avoids start-ups, turnarounds, or speculative business models.

Key operational metrics (as of the latest 10-K): total assets of roughly $1.2 billion, a portfolio-weighted yield of ~9 %, dividend yield of 8.5 %, and a leverage ratio around 1.5×. The average holding period is about 4-5 years, with exits pursued via IPOs, mergers, sales, or recapitalizations.

Sector exposure is heavily weighted toward high-tech, healthcare, business services, and industrials-areas that have shown resilient cash-flow generation in a low-interest-rate environment but are now facing margin pressure as the Fed’s policy rate hovers near 5 %.

Given the BDC’s sensitivity to credit spreads and interest-rate cycles, monitoring the U.S. middle-market loan demand index and the spread between BDC yields and U.S. Treasuries is essential for assessing upside potential.

For a deeper quantitative view, a quick look at ValueRay’s data tables can help you quantify CION’s yield and leverage trends.

Piotroski VR‑10 (Strict, 0-10) 6.0

Net Income (25.9m TTM) > 0 and > 6% of Revenue (6% = 7.87m TTM)

FCFTA 1.01 (>2.0%) and ΔFCFTA 100.6pp (YES ≥ +1.0pp, WARN ≥ +0.5pp)

NWC/Revenue -9.75% (prev 54.06%; Δ -63.81pp) (YES ≤20% & Δ≤-1pp; WARN ≤25% & Δ≤0 oder ≤40% & Δ≤-3pp)

CFO/TA 1.01 (>3.0%) and CFO 60.7m > Net Income 25.9m (YES >=105%, WARN >=100%)

Net Debt (-29.0k) to EBITDA (26.0m) ratio: -0.00 <= 3.0 (WARN <= 3.5)

Current Ratio 0.01 (target 1.5–3.0; WARN 1.2–<1.5 or >3.0–5.0; CFO/TA gate active)

Outstanding Shares last Quarter (52.1m) change vs 12m ago -2.57% (target <= -2.0% for YES)

Gross Margin 28.72% (prev 48.74%; Δ -20.03pp) >=18% & Δ>=+0.5pp (WARN >=15% & Δ>=0)

Asset Turnover 13.28% (prev 9.74%; Δ 3.54pp) >=50% & Δ>=+2pp (WARN >=35% & Δ>=0)

Interest Coverage Ratio -1.36 (EBITDA TTM 26.0m / Interest Expense TTM 93.5m) >= 6 (WARN >= 3)

Altman Z'' -21.43

(A) -0.21 = (Total Current Assets 165.0k - Total Current Liabilities 13.0m) / Total Assets 60.4m

(B) -3.93 = Retained Earnings (Balance) -237.2m / Total Assets 60.4m

warn (B) unusual magnitude: -3.93 — check mapping/units

(D) -6.07 = Book Value of Equity -237.2m / Total Liabilities 39.1m

Total Rating: -21.43 = (6.56 * A) + (3.26 * B) + (6.72 * C) + (1.05 * D)

ValueRay F-Score (Strict, 0-100) 47.33

1. Piotroski 6.0pt

2. FCF Yield 3.79%

3. FCF Margin 46.27%

4. Debt/Equity 51.61

5. Debt/Ebitda -0.00

6. ROIC - WACC (= -10.77)%

7. RoE 4.40%

8. Rev. Trend -4.43%

9. EPS Trend -12.04%

What is the price of CION shares?

As of January 16, 2026, the stock is trading at USD 9.57 with a total of 369,102 shares traded.
Over the past week, the price has changed by -0.10%, over one month by -3.11%, over three months by +6.54% and over the past year by -1.44%.

Is CION a buy, sell or hold?

Cion Investment has received a consensus analysts rating of 3.00. Therefor, it is recommend to hold CION.

Strong Buy: 1
Buy: 0
Hold: 1
Sell: 0
Strong Sell: 1

What are the forecasts/targets for the CION price?

Issuer	Target	Up/Down from current
Wallstreet Target Price	10.7	11.5%
Analysts Target Price	10.7	11.5%
ValueRay Target Price	12.5	30.9%

CION Fundamental Data Overview January 12, 2026

P/E Trailing = 19.6327
P/E Forward = 6.6357
P/S = 2.0458
P/B = 0.6435
Revenue TTM = 131.2m USD
EBIT TTM = -126.8m USD
EBITDA TTM = 26.0m USD
Long Term Debt = unknown (none)
Short Term Debt = 40.0k USD (from shortTermDebt, last fiscal year)
Debt = 1.10b USD (from shortLongTermDebtTotal, last fiscal year)
Net Debt = -29.0k USD (from netDebt column, last quarter)
Enterprise Value = 1.60b USD (501.1m + Debt 1.10b - CCE 29.0k)
Interest Coverage Ratio = -1.36 (Ebit TTM -126.8m / Interest Expense TTM 93.5m)
EV/FCF = 26.36x (Enterprise Value 1.60b / FCF TTM 60.7m)
FCF Yield = 3.79% (FCF TTM 60.7m / Enterprise Value 1.60b)
FCF Margin = 46.27% (FCF TTM 60.7m / Revenue TTM 131.2m)
Net Margin = 19.78% (Net Income TTM 25.9m / Revenue TTM 131.2m)
Gross Margin = 28.72% ((Revenue TTM 131.2m - Cost of Revenue TTM 93.5m) / Revenue TTM)
Gross Margin QoQ = 63.05% (prev 56.92%)
Tobins Q-Ratio = 26.50 (Enterprise Value 1.60b / Total Assets 60.4m)
Interest Expense / Debt = 2.06% (Interest Expense 22.7m / Debt 1.10b)
Taxrate = 0.31% (107.0k / 34.0m)
NOPAT = -126.4m (EBIT -126.8m * (1 - 0.31%)) [loss with tax shield]
Current Ratio = 0.01 (Total Current Assets 165.0k / Total Current Liabilities 13.0m)
Debt / Equity = 51.61 (Debt 1.10b / totalStockholderEquity, last quarter 21.3m)
Debt / EBITDA = -0.00 (Net Debt -29.0k / EBITDA 26.0m)
Debt / FCF = -0.00 (Net Debt -29.0k / FCF TTM 60.7m)
Total Stockholder Equity = 589.4m (last 4 quarters mean from totalStockholderEquity)
RoA = 2.63% (Net Income 25.9m / Total Assets 60.4m)
RoE = 4.40% (Net Income TTM 25.9m / Total Stockholder Equity 589.4m)
RoCE = -267.4% (out of range, set to none) (EBIT -126.8m / Capital Employed (Total Assets 60.4m - Current Liab 13.0m))
RoIC = -6.75% (negative operating profit) (NOPAT -126.4m / Invested Capital 1.87b)
WACC = 4.02% (E(501.1m)/V(1.60b) * Re(8.32%) + D(1.10b)/V(1.60b) * Rd(2.06%) * (1-Tc(0.00)))
Discount Rate = 8.32% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: -100.0 | Cagr: -2.07%
[DCF Debug] Terminal Value 80.82% ; FCFF base≈60.7m ; Y1≈39.9m ; Y5≈18.2m
Fair Price DCF = 11.21 (EV 579.4m - Net Debt -29.0k = Equity 579.4m / Shares 51.7m; r=5.90% [WACC]; 5y FCF grow -40.0% → 2.90% )
[DCF Warning] FCF declining rapidly (-40.0%), DCF may be unreliable
EPS Correlation: -12.04 | EPS CAGR: -44.65% | SUE: -2.55 | # QB: 0
Revenue Correlation: -4.43 | Revenue CAGR: 24.02% | SUE: 0.22 | # QB: 0
EPS next Quarter (2026-03-31): EPS=0.34 | Chg30d=+0.017 | Revisions Net=+1 | Analysts=3
EPS next Year (2026-12-31): EPS=1.32 | Chg30d=+0.030 | Revisions Net=+1 | Growth EPS=-25.0% | Growth Revenue=-15.7%

Additional Sources for CION Stock

News: Wall Street Journal | Benzinga | Yahoo Finance
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