CION Investment Corporation (CION) Key Metrics
CION valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $324.2M
- Enterprise value
- $1.48B
- P/E (TTM)
- 94.1 10-yr median 8.7
- Forward P/E
- 7.6
- PEG ratio
- —
- Price / sales
- 1.4 10-yr median 4.3
- Price / book
- 0.5 10-yr median 0.7
- EV / EBITDA
- — 10-yr median 19.5
- Dividend yield
- 18.21% $1.20 a year
- Beta
- 1.12
CION key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsCION valuation Price multiples at each fiscal year-end price.
CION returns How much profit the business earns on the capital it uses.
CION per-share figures Results divided by the shares outstanding at year-end.
CION financial health Debt, liquidity and how easily interest is covered.
CION efficiency & capital use Working capital cycle and where the cash goes.
CION valuation history
CION returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
CION debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
CION cash returned to shareholders
CION price vs earnings per share
CION key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $506.1M | $610.6M | $618.5M | $551.4M | $742.5M | — | — | — | — | — |
| Enterprise value | $1.51B | $1.70B | $1.69B | $1.42B | $1.56B | — | — | — | — | — |
| P/E ratio | — | 18.0 | 6.5 | 11.0 | 6.3 | — | — | — | — | — |
| Price / sales | 2.5 | 4.3 | 3.2 | 9.0 | 5.6 | — | — | — | — | — |
| Price / book | 0.7 | 0.7 | 0.7 | 0.6 | 0.8 | — | — | — | — | — |
| Price / free cash flow | 6.6 | 6.9 | 11.2 | 15.6 | — | — | — | — | — | — |
| Price / operating cash flow | 6.6 | 6.9 | 11.2 | 15.6 | — | — | — | — | — | — |
| EV / sales | 7.5 | 11.9 | 8.8 | 23.2 | 11.8 | — | — | — | — | — |
| EV / EBITDA | 19.5 | 25.2 | 17.8 | 13.5 | 20.7 | — | — | — | — | — |
| EV / free cash flow | 19.6 | 19.3 | 30.5 | 40.3 | — | — | — | — | — | — |
| Earnings yield | −4.1% | 5.6% | 15.4% | 9.1% | 16.0% | — | — | — | — | — |
| Free cash flow yield | 15.2% | 14.4% | 9.0% | 6.4% | −6.6% | — | — | — | — | — |
| Dividend yield | 15.4% | 14.7% | 14.9% | 12.1% | 7.5% | — | — | — | — | — |
| Shareholder yield (dividends + buybacks) | 18.8% | 16.5% | 16.7% | 14.9% | 9.0% | — | — | — | — | — |
| Share price at fiscal year-end | $9.67 | $11.40 | $11.31 | $9.75 | $13.07 | — | — | — | — | — |
| Per share | ||||||||||
| Revenue per share | $3.84 | $2.67 | $3.51 | $1.08 | $2.32 | $0.00 | $1.05 | $0.71 | $1.70 | $2.43 |
| Earnings per share | −$0.39 | $0.63 | $1.74 | $0.89 | $2.09 | −$0.19 | $0.91 | $0.55 | $1.53 | $2.26 |
| Operating cash flow per share | $1.47 | $1.65 | $1.01 | $0.62 | −$0.87 | $3.50 | $2.22 | −$2.01 | −$7.37 | −$4.27 |
| Free cash flow per share | $1.47 | $1.65 | $1.01 | $0.62 | −$0.87 | $3.50 | $2.22 | −$2.01 | −$7.37 | −$4.27 |
| Cash per share | $2.37 | $0.14 | $0.15 | $1.46 | $0.07 | $0.35 | $0.11 | $0.31 | $1.00 | $0.28 |
| Book value per share | $13.52 | $15.32 | $16.08 | $15.62 | $16.38 | $15.46 | $16.75 | $17.16 | $18.86 | $18.87 |
| Tangible book value per share | $13.52 | $15.32 | $16.08 | $15.62 | $16.38 | $15.46 | $16.75 | $17.16 | $18.86 | $18.87 |
| Dividends per share | $1.49 | $1.67 | $1.68 | $1.18 | $0.99 | $0.70 | $0.86 | $0.78 | $0.76 | $0.73 |
| Capex per share | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Debt per share | $21.51 | $20.52 | $19.78 | $16.82 | $14.48 | $12.67 | $14.71 | $15.64 | $12.57 | $4.18 |
| Shares outstanding | 52.3M | 53.6M | 54.7M | 56.6M | 56.8M | 56.8M | 56.9M | 57.1M | 56.1M | 53.0M |
| Change in shares outstanding | −2.3% | −2.0% | −3.3% | −0.4% | −0.0% | −0.1% | −0.4% | +1.7% | +6.0% | +35.0% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −2.7% | 4.0% | 10.8% | 5.5% | 13.1% | −1.2% | 5.4% | 3.1% | 8.3% | 12.6% |
| Return on invested capital (ROIC) | 3.0% | 1.8% | 5.1% | 5.7% | 7.1% | −0.5% | 2.9% | 4.3% | 2.9% | 5.7% |
| Return on assets (ROA) | −1.1% | 1.7% | 4.9% | 2.7% | 7.0% | −0.6% | 2.8% | 1.7% | 5.6% | 10.8% |
| Return on tangible assets | −1.1% | 1.7% | 4.8% | 2.7% | 6.7% | −0.7% | 2.9% | 1.6% | 4.7% | 9.5% |
| Free cash flow margin | 38.2% | 61.8% | 28.8% | 57.7% | −37.3% | — | 211.6% | −283.2% | −434.6% | −175.3% |
| Income quality (OCF / net income) | — | 2.60 | 0.58 | 0.70 | −0.41 | — | 2.43 | −3.66 | −4.82 | −1.89 |
| Financial health | ||||||||||
| Total debt | $1.13B | $1.10B | $1.08B | $951.3M | $822.4M | $720.0M | $836.6M | $892.6M | $705.4M | $221.2M |
| Cash & short-term investments | $124.2M | $7.7M | $8.4M | $82.7M | $3.8M | $19.9M | $6.1M | $17.6M | $56.4M | $15.0M |
| Net debt | $1.00B | $1.09B | $1.07B | $868.6M | $818.6M | $700.0M | $830.5M | $875.0M | $649.1M | $206.2M |
| Debt / equity | 1.59 | 1.34 | 1.23 | 1.08 | 0.88 | 0.82 | 0.88 | 0.91 | 0.67 | 0.22 |
| Debt / assets | 0.61 | 0.56 | 0.54 | 0.51 | 0.46 | 0.45 | 0.46 | 0.47 | 0.39 | 0.18 |
| Net debt / EBITDA | 12.95 | 16.13 | 11.27 | 8.24 | 10.84 | — | 16.02 | 11.37 | 7.56 | 1.72 |
| Current ratio | — | 4.40 | 1.77 | 4.69 | 1.63 | 13.65 | 8.17 | 1.89 | 2.53 | 9.33 |
| Quick ratio | — | 4.40 | 1.77 | 4.69 | −4.97 | 13.65 | −5.15 | 89.55 | 2.53 | 78.70 |
| Interest coverage | 0.8 | 0.4 | 1.1 | 2.0 | 3.7 | -0.3 | 1.0 | 1.7 | 3.7 | 33.5 |
| Working capital | $155.8M | $44.1M | $20.7M | $87.8M | $11.1M | $42.1M | $39.8M | $19.4M | $61.5M | $151.4M |
| Invested capital | $1.71B | $1.91B | $1.95B | $1.75B | $1.75B | $1.58B | $1.78B | $1.85B | $1.71B | $1.21B |
| Tangible asset value | $707.6M | $822.1M | $879.6M | $883.6M | $930.5M | $878.3M | $952.6M | $979.3M | $1.06B | $999.8M |
| Net current asset value | −$991.3M | −$1.07B | −$1.07B | −$877.2M | −$823.5M | −$691.1M | −$812.5M | −$886.0M | −$655.5M | −$91.8M |
| Graham number | — | $14.77 | $25.11 | $17.65 | $27.76 | — | $18.54 | $14.55 | $25.49 | $30.97 |
| Graham net-net per share | −$19.54 | −$20.18 | −$19.85 | −$15.64 | −$13.59 | −$12.30 | −$13.83 | −$32.33 | −$11.93 | −$14.37 |
| Capital allocation | ||||||||||
| Dividends paid | $78.0M | $89.5M | $92.0M | $66.6M | $56.0M | $40.0M | $49.0M | $44.8M | $42.4M | $38.4M |
| Share buybacks (net) | $17.2M | $11.3M | $11.5M | $15.4M | $10.5M | $23.3M | $35.8M | $97.0M | $40.4M | $17.8M |
| Dividend payout ratio | — | 263.9% | 96.5% | 132.9% | 47.2% | — | 94.5% | 142.9% | 49.4% | 32.1% |
| Dividends + buybacks / free cash flow | 123.9% | 114.3% | 186.9% | 232.7% | — | 31.8% | 67.3% | — | — | — |
| Capex / revenue | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% |
| Capex / operating cash flow | 0.0% | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | — | — | — |
| Capex / depreciation | 0.00 | 0.00 | — | 0.00 | — | 0.00 | 0.00 | 0.00 | — | — |
| R&D / revenue | — | — | 0.0% | 0.0% | 0.0% | — | 0.0% | 0.0% | 0.0% | 0.0% |
| SG&A / revenue | 3.1% | 8.0% | 5.4% | 17.4% | 9.8% | — | 10.8% | 19.4% | 8.4% | 6.2% |
| Efficiency | ||||||||||
| Days sales outstanding | 43.7 | 109.6 | 63.2 | 158.9 | 66.5 | — | 188.7 | 294.7 | 376.2 | 563.8 |
| Days of inventory on hand | — | — | 0.0 | 6,328.3 | 6,901,353,479.6 | 321.5 | -5,649.2 | -3,551.7 | -3,534.0 | -5,309.0 |
| Days payables outstanding | 78.1 | 74.9 | 107.8 | 2,254.0 | 1,243,318,403.9 | 38.6 | 84.1 | 115.4 | 163.6 | 162.0 |
| Cash conversion cycle (days) | -34.4 | 34.7 | -44.7 | 4,233.1 | 5,658,035,142.3 | — | -5,544.6 | -3,372.4 | -3,321.4 | -4,907.1 |
| Receivables turnover | 8.36 | 3.33 | 5.78 | 2.30 | 5.48 | 0.00 | 1.93 | 1.24 | 0.97 | 0.65 |
| Payables turnover | 4.67 | 4.87 | 3.38 | 0.16 | 0.00 | 9.45 | 4.34 | 3.16 | 2.23 | 2.25 |
| Inventory turnover | — | — | 85,556,000.00 | 0.06 | 0.00 | 1.14 | — | — | — | — |
| Asset turnover | 0.11 | 0.07 | 0.10 | 0.03 | 0.08 | 0.00 | 0.03 | 0.02 | 0.06 | 0.12 |
| Average receivables | $24.1M | $42.9M | $33.3M | $26.6M | $24.1M | $31.0M | $30.8M | $32.7M | $98.1M | $199.1M |
| Average payables | $11.0M | $19.9M | $25.3M | $20.7M | $10.5M | $4.4M | $13.6M | $31.0M | $29.2M | $14.6M |
| Average inventory | — | — | $1 | $58.0M | $58.0M | $36.9M | −$916.3M | −$953.2M | −$630.5M | −$478.2M |
| Intangibles / total assets | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Computed from CION's annual financial statements (latest annual report filed March 12, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
CION valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 94.1 and the forward P/E is 7.6. CION Investment earned a return on equity of −2.7% and a return on invested capital of 3.0% in fiscal 2025. It ended the year with $1.1 billion of debt and $124.2 million in cash and short-term investments, net debt of $1.0 billion. It returned $95.2 million to shareholders: $78.0 million in dividends and $17.2 million in share buybacks, 124% of free cash flow.
See the CION income statement, the CION chart for price history, or the CION stock overview for the latest quote and news.
CION key metrics FAQ
What is CION Investment's P/E ratio?
CION Investment's trailing P/E ratio is 94.1 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 7.6. At the end of fiscal 2025 it was —, compared with a 10-year median of 8.7.
What is CION Investment's EV/EBITDA?
CION Investment's enterprise value was 19.5 times EBITDA at the end of fiscal 2025 (enterprise value $1.5 billion, EBITDA $77.3 million).
What is CION Investment's return on equity?
CION Investment's return on equity (ROE) was −2.7% in fiscal 2025: net income of -$20.6 million on average shareholders' equity of $764.2 million.
What is CION Investment's ROIC?
CION Investment's return on invested capital was 3.0% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does CION Investment have?
CION Investment had total debt of $1.1 billion at the end of fiscal 2025, a debt-to-equity ratio of 1.59 and $1.0 billion of net debt (12.95 times EBITDA).
What is CION Investment's dividend yield?
CION Investment's forward dividend yield is 18.21%. CION Investment paid $78.0 million in dividends in fiscal 2025 ($1.49 per share), a payout ratio of —.
Does CION Investment buy back its shares?
Yes. CION Investment spent $17.2 million on net share repurchases in fiscal 2025 Shares outstanding changed −2.3% over the year, to 52.3M..
What is CION Investment's free cash flow yield?
CION Investment generated $76.8 million of free cash flow in fiscal 2025, a free cash flow yield of 15.2% on its market value at year-end ($506.1 million).