(CION) Cion Investment - Overview
Stock: Debt Securities, Equity Interests, Corporate Bonds
| Risk 5d forecast | |
|---|---|
| Volatility | 23.8% |
| Relative Tail Risk | -0.46% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | -1.12 |
| Alpha | -40.51 |
| Character TTM | |
|---|---|
| Beta | 0.551 |
| Beta Downside | 0.642 |
| Drawdowns 3y | |
|---|---|
| Max DD | 28.46% |
| CAGR/Max DD | 0.29 |
EPS (Earnings per Share)
Revenue
Description: CION Cion Investment March 04, 2026
CION Investment Corporation (CION) operates as a Business Development Company (BDC), focusing on debt and equity investments in US middle-market companies. BDCs are regulated investment companies that provide capital to small and mid-sized businesses, often those that cannot access traditional bank financing. This structure allows them to pass through most of their taxable income to shareholders without being taxed at the corporate level.
CIONs investment strategy primarily involves senior secured loans, including unitranche and first/second lien loans, alongside subordinated debt, mezzanine loans, and equity interests like warrants. The firm targets companies with established EBITDA, typically between $25 million and $75 million, and avoids early-stage or speculative ventures. The firm supports growth capital, acquisitions, and recapitalizations across a wide range of industries, including technology, healthcare, and diversified financials. Middle-market lending provides a crucial funding source for businesses that are too large for venture capital but too small for public markets.
CION also allocates a portion of its assets to opportunistic investments, including larger public companies and foreign securities, and participates in the secondary loan market. The company aims for investment exits through IPOs, mergers, sales, or recapitalizations. To further understand CIONs investment performance and portfolio characteristics, consider exploring its detailed financials on ValueRay.
Headlines to watch out for
- Middle-market loan demand drives investment income
- Interest rate fluctuations impact net investment income
- Credit quality of portfolio companies affects losses
- Regulatory changes for BDCs create compliance costs
- Economic downturns increase loan defaults and reduce valuations
Piotroski VR‑10 (Strict, 0-10) 5.0
| Net Income: 25.9m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA 3.31 > 1.0 |
| NWC/Revenue: 329.6% < 20% (prev 54.06%; Δ 275.6% < -1%) |
| CFO/TA 0.03 > 3% & CFO 60.7m > Net Income 25.9m |
| Net Debt (1.08b) to EBITDA (26.0m): 41.51 < 3 |
| Current Ratio: 10.8k > 1.5 & < 3 |
| Outstanding Shares: last quarter (52.1m) vs 12m ago -2.57% < -2% |
| Gross Margin: 28.72% > 18% (prev 0.49%; Δ 2.82k% > 0.5%) |
| Asset Turnover: 6.91% > 50% (prev 9.74%; Δ -2.83% > 0%) |
| Interest Coverage Ratio: -1.36 > 6 (EBITDA TTM 26.0m / Interest Expense TTM 93.5m) |
Altman Z'' 0.42
| A: 0.23 (Total Current Assets 432.5m - Total Current Liabilities 40.0k) / Total Assets 1.88b |
| B: -0.13 (Retained Earnings -237.2m / Total Assets 1.88b) |
| C: -0.07 (EBIT TTM -126.8m / Avg Total Assets 1.90b) |
| D: -0.21 (Book Value of Equity -237.2m / Total Liabilities 1.11b) |
| Altman-Z'' Score: 0.42 = B |
Beneish M
| DSRI: 0.66 (Receivables 36.4m/78.1m, Revenue 131.2m/186.6m) |
| GMI: 1.70 (GM 28.72% / 48.74%) |
| AQI: none (AQ_t none / AQ_t-1 none) |
| SGI: 0.70 (Revenue 131.2m / 186.6m) |
| TATA: -0.02 (NI 25.9m - CFO 60.7m) / TA 1.88b) |
| Beneish M-Score: cannot calculate (missing components) |
What is the price of CION shares?
Over the past week, the price has changed by -16.40%, over one month by -23.08%, over three months by -31.79% and over the past year by -31.93%.
Is CION a buy, sell or hold?
- StrongBuy: 1
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 1
What are the forecasts/targets for the CION price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 10.7 | 38.9% |
| Analysts Target Price | 10.7 | 38.9% |
CION Fundamental Data Overview March 12, 2026
P/E Forward = 5.2549
P/S = 1.6205
P/B = 0.5097
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 = 1.08b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.08b USD (from netDebt column, last quarter)
Enterprise Value = 1.48b USD (396.9m + Debt 1.08b - CCE 29.0k)
Interest Coverage Ratio = -1.36 (Ebit TTM -126.8m / Interest Expense TTM 93.5m)
EV/FCF = 24.30x (Enterprise Value 1.48b / FCF TTM 60.7m)
FCF Yield = 4.11% (FCF TTM 60.7m / Enterprise Value 1.48b)
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 = 0.78 (Enterprise Value 1.48b / Total Assets 1.88b)
Interest Expense / Debt = 2.10% (Interest Expense 22.7m / Debt 1.08b)
Taxrate = 0.31% (107k / 34.0m)
NOPAT = -126.4m (EBIT -126.8m * (1 - 0.31%)) [loss with tax shield]
Current Ratio = 10.8k (out of range, set to none) (Total Current Assets 432.5m / Total Current Liabilities 40.0k)
Debt / Equity = 1.40 (Debt 1.08b / totalStockholderEquity, last quarter 772.5m)
Debt / EBITDA = 41.51 (Net Debt 1.08b / EBITDA 26.0m)
Debt / FCF = 17.76 (Net Debt 1.08b / FCF TTM 60.7m)
Total Stockholder Equity = 777.2m (last 4 quarters mean from totalStockholderEquity)
RoA = 1.37% (Net Income 25.9m / Total Assets 1.88b)
RoE = 3.34% (Net Income TTM 25.9m / Total Stockholder Equity 777.2m)
RoCE = -6.73% (EBIT -126.8m / Capital Employed (Total Assets 1.88b - Current Liab 40.0k))
RoIC = -6.75% (negative operating profit) (NOPAT -126.4m / Invested Capital 1.87b)
WACC = 3.67% (E(396.9m)/V(1.48b) * Re(7.94%) + D(1.08b)/V(1.48b) * Rd(2.10%) * (1-Tc(0.00)))
Discount Rate = 7.94% (= CAPM, Blume Beta Adj.) -> floored to rf + 0.7*ERP = 7.95%
Shares Correlation 3-Years: -100.0 | Cagr: -2.07%
[DCF] Terminal Value 80.82% ; FCFF base≈60.7m ; Y1≈39.9m ; Y5≈18.2m
[DCF] Fair Price = N/A (negative equity: EV 579.4m - Net Debt 1.08b = -499.1m; debt exceeds intrinsic value)
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 Year (2026-12-31): EPS=1.32 | Chg7d=+0.030 | Chg30d=+0.030 | Revisions Net=+1 | Growth EPS=-25.0% | Growth Revenue=-15.7%