(CION) Cion Investment - NYSE
Sector: Financial Services | Industry: Asset Management | Exchange: NYSE (USA) | Market Cap: 349m USD | Total Return: -10.6% in 12m
Avg Turnover: 3.12M
EPS Trend: -31.3%
Qual. Beats: 0
Rev. Trend: -47.6%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
No distinct edge detected
CION Investment Corporation is a business development company (BDC) that provides financing solutions to middle-market companies, primarily within the United States. The firm focuses on senior secured debt, including first lien, second lien, and unitranche loans, while also participating in equity co-investments and corporate bonds. Its investment strategy targets established businesses with EBITDA between $25 million and $75 million, specifically avoiding startups and turnaround situations.
As a BDC, CION is legally required to distribute at least 90% of its taxable income to shareholders to maintain its tax-advantaged status. This business model allows the firm to act as a specialized lender to the middle market, a sector often underserved by traditional commercial banks due to regulatory capital constraints. CION diversifies its portfolio across a wide range of defensive and growth industries, including healthcare, technology, and business services.
The firm typically invests between $5 million and $50 million per transaction, seeking exits through public offerings, mergers, or recapitalizations. For a deeper analysis of these portfolio metrics, visit ValueRay to further your due diligence. Beyond its core middle-market focus, the fund may allocate up to 30% of its assets to opportunistic investments, such as foreign securities and larger public company debt.
- Floating rate senior secured loan exposure drives net interest margin volatility
- Credit performance of middle market portfolio impacts net asset value stability
- Fed interest rate pivots directly influence investment income and distribution levels
- Secondary market opportunistic investments provide potential for capital appreciation upside
| Net Income: -957k TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.04 > 0.02 and ΔFCF/TA 3.55 > 1.0 |
| NWC/Revenue: 83.72% < 20% (prev 22.81%; Δ 60.91% < -1%) |
| CFO/TA 0.04 > 3% & CFO 75.4m > Net Income -957k |
| Net Debt (1.05b) to EBITDA (97.6m): 10.78 < 3 |
| Current Ratio: 8.76 > 1.5 & < 3 |
| Outstanding Shares: last quarter (50.8m) vs 12m ago -4.28% < -2% |
| Gross Margin: 47.27% > 18% (prev -3.20%; Δ 50.48% > 0.5%) |
| Asset Turnover: 7.90% > 50% (prev 4.88%; Δ 3.01% > 0%) |
| Interest Coverage Ratio: 0.26 > 6 (EBIT TTM 23.5m / Interest Expense TTM 92.0m) |
| A: 0.07 (Total Current Assets 139.6m - Total Current Liabilities 15.9m) / Total Assets 1.84b |
| B: -0.18 (Retained Earnings -335.2m / Total Assets 1.84b) |
| C: 0.01 (EBIT TTM 23.5m / Avg Total Assets 1.87b) |
| D: 0.56 (Book Value of Equity 659.6m / Total Liabilities 1.18b) |
| Altman-Z'' = 0.52 = B |
As of June 13, 2026, the stock is trading at USD 6.98 with a total of 470,575 shares traded.
Over the past week, the price has changed by +5.37%,
over one month by +5.84%,
over three months by +6.88% and
over the past year by -10.55%.
Cion Investment has received a consensus analysts rating of 3.00. Therefore, it is recommended to hold CION.
- StrongBuy: 1
- Buy: 0
- Hold: 1
- Sell: 0
- StrongSell: 1
| Analysts Target Price | 9.3 | 32.5% |
P/E Forward = 6.6667
P/S = 1.4876
P/B = 0.5284
Revenue TTM = 147.7m USD
EBIT TTM = 23.5m USD
EBITDA TTM = 97.6m USD
Long Term Debt = unknown (none)
Short Term Debt = 27.0k USD (from shortTermDebt, last fiscal year)
Debt = 1.16b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 1.05b USD (calculated: Debt 1.16b - CCE 106.3m)
Enterprise Value = 1.40b USD (348.5m + Debt 1.16b - CCE 106.3m)
Interest Coverage Ratio = 0.26 (Ebit TTM 23.5m / Interest Expense TTM 92.0m)
EV/FCF = 18.57x (Enterprise Value 1.40b / FCF TTM 75.4m)
FCF Yield = 5.38% (FCF TTM 75.4m / Enterprise Value 1.40b)
FCF Margin = 51.05% (FCF TTM 75.4m / Revenue TTM 147.7m)
Net Margin = -0.65% (Net Income TTM -957k / Revenue TTM 147.7m)
Gross Margin = 47.27% ((Revenue TTM 147.7m - Cost of Revenue TTM 77.9m) / Revenue TTM)
Gross Margin QoQ = 79.23% (prev none%)
Tobins Q-Ratio = 0.76 (Enterprise Value 1.40b / Total Assets 1.84b)
Interest Expense / Debt = 7.94% (Interest Expense 92.0m / Debt 1.16b)
Taxrate = 21.0% (US federal default 21%)
NOPAT = 18.5m (EBIT 23.5m * (1 - 21.00%))
Current Ratio = 8.76 (Total Current Assets 139.6m / Total Current Liabilities 15.9m)
Debt / Equity = 1.76 (Debt 1.16b / totalStockholderEquity, last quarter 659.6m)
Debt / EBITDA = 10.78 (Net Debt 1.05b / EBITDA 97.6m)
Debt / FCF = 13.95 (Net Debt 1.05b / FCF TTM 75.4m)
Total Stockholder Equity = 724.6m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.05% (Net Income -957k / Total Assets 1.84b)
RoE = -0.13% (Net Income TTM -957k / Total Stockholder Equity 724.6m)
RoCE = 1.28% (EBIT 23.5m / Capital Employed (Total Assets 1.84b - Current Liab 15.9m))
RoIC = 1.02% (NOPAT 18.5m / Invested Capital 1.82b)
WACC = 6.68% (E(348.5m)/V(1.51b) * Re(8.03%) + D(1.16b)/V(1.51b) * Rd(7.94%) * (1-Tc(0.21)))
Discount Rate = 8.03% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -91.11 | Cagr: -2.91%
[DCF] Terminal Value 77.97% ; FCFF base≈49.3m ; Y1≈56.5m ; Y5≈83.2m
[DCF] Fair Price = 4.02 (EV 1.25b - Net Debt 1.05b = Equity 200.1m / Shares 49.8m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: -31.27 | EPS CAGR: -2.81% | SUE: -0.60 | # QB: 0
Revenue Correlation: -47.60 | Revenue CAGR: -16.82% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.27 | Chg30d=-7.57% | Revisions=+0% | Analysts=2
EPS next Quarter (2026-09-30): EPS=0.27 | Chg30d=-6.46% | Revisions=+0% | Analysts=2
EPS current Year (2026-12-31): EPS=1.04 | Chg30d=-10.09% | Revisions=+0% | GrowthEPS=-41.6% | GrowthRev=-18.0%
EPS next Year (2027-12-31): EPS=1.09 | Chg30d=+7.35% | Revisions=+20% | GrowthEPS=+5.3% | GrowthRev=-0.9%
[Analyst] Revisions Ratio: +20%