CION Financial Services

CION Investment Corporation

$6.83-2.71%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Financial Services
Industry: Asset Management
Country: United States
Market cap: 336.1M USD
Enterprise value: 1.5B USD

Overall health

Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.12 vs a peer median of 0.70) and more debt relative to equity (1.74× vs a peer median of 0.57×)higher risk: bigger price swings (beta 1.12 vs peers 0.70) and more debt vs equity (1.74× vs peers 0.57×)
Not enough data: growth

Would rank #208 of 232 fully scored financial services companies (bottom 11%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.
CION Investment made a profit per share in its latest year after a loss the year before.
Valuation signals disagree. Cheaper than 70% of peers on free cash flow, but only 15% on earnings.
Relative to its free cash flow, CION Investment looks cheaper than 70% of peers; relative to its earnings, cheaper than only 15%. The valuation score blends the two, so look at which measure fits this business best.
Share count shrinking. Shares outstanding down 11% from December 2022 to July 2026.
CION Investment had 11% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.
Cash flow well above reported profit. Free cash flow is 16.4× reported profit.
Free cash flow is 16.4× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

StockQuotient Score

29/ 100▼ 1 since Oct 27 close

Oct 5 28 → Nov 4 29 (+1)

Valuation

Is the price right?

35/100

Weak▲ 1 since Oct 27 close

2/3 inputs reported · Partial data

Since last quarter: No major changeValuation also moves with the share price every day.

Why it changed since the Oct 27, 2026 close: Score 34 → 35

Peer companies moved+1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Earnings yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield0.8%

SEC filings · 12 months to Jun 2026Reported value30% base weight · Z-score -1.32Sector median: 0.0571 · MAD: 0.0371

EBITDA yieldUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.0689 · MAD: 0.0428

Free cash flow yield13.2%

Yahoo Finance fallback · SEC cash flow or share count unavailable · trailing 12 months · operating cash flow − capital spendingReported value20% base weight · Z-score 1.17Sector median: 0.0613 · MAD: 0.0605

Other data (not scored)

Book yield198.7%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.8352 · MAD: 0.4517

Growth

Is it growing?

Insufficient data

Insufficient data: 1 of 3 inputs reported (at least 2 needed). We leave it blank rather than fill the gap with a made-up middle value.

Profitability

Does it earn well?

31/100

Weak▼ 1 since Oct 27 close

2/3 inputs reported · Partial data

Since last quarter: ▲ Stronger

Turned profitable over the last 12 months

Why it changed since the Oct 27, 2026 close: Score 32 → 31

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ ROA

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating marginUnavailable

Missing · left out of the score · no sector data, so not countedNot counted · remaining weights rescaledSector median: 0.2353 · MAD: 0.1462

Return on assets0.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -1.04Sector median: 0.0256 · MAD: 0.0233

Return on invested capital7.7%

Yahoo Finance fallback · SEC operating income or invested capital unavailable · trailing 12 monthsReported value33% base weight · Z-score 0.27Sector median: 0.0630 · MAD: 0.0518

Other data (not scored)

Gross margin100.0%

Yahoo Finance fallback · SEC figure unavailable or out of date · trailing 12 monthsReported valueInformational · 0% composite weightSector median: 0.7878 · MAD: 0.2122

Return on equity0.4%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0939 · MAD: 0.0702

Risk

Debt, liquidity, price swings

Higher

Higher relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why it changed since the Oct 27, 2026 close: Safety percentile 23 → 22

Peer companies moved-1

Each step re-scores the company against its peers as they were on Oct 28, 2026; the parts add up to the change. Price effects on EBITDA yield are approximate.

Why

Weaker than most peers on:

▼ Beta
▼ Debt / equity

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.12

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.34Sector median: 0.7010 · MAD: 0.3115

Current ratio2.46×

Yahoo Finance fallback · SEC figure unavailable or out of dateReported value33% base weight · Z-score 0.35Sector median: 2.0250 · MAD: 1.2470

Debt / equity1.74×

SEC filings · latest balance sheetReported value33% base weight · Z-score -2.13Sector median: 0.5734 · MAD: 0.5454

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about CION Investment

Is CION Investment getting weaker?: Its latest SEC filing (Aug 6, 2026) got stronger: turned profitable over the last 12 months. Its overall score is 29/100, down 1 since Oct 28, 2026.
How is CION Investment valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 432 financial services peers. Free cash flow yield 13.2% vs a peer median of 6.1% (stronger than 70% of peers).Free cash flow yield 13.2% vs peers 6.1% (stronger than 70% of peers). Earnings yield 0.8% vs a peer median of 5.7% (weaker than 85% of peers).Earnings yield 0.8% vs peers 5.7% (weaker than 85% of peers).
Is CION Investment growing?: Insufficient data: 1 of 3 inputs reported (at least 2 needed).
How profitable is CION Investment?: Less profitable than most of its peers. Profitability scores 31/100 against 432 financial services peers. Return on assets 0.1% vs a peer median of 2.6% (weaker than 82% of peers).Return on assets 0.1% vs peers 2.6% (weaker than 82% of peers).
How risky is CION Investment?: Higher risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Beta 1.12 vs a peer median of 0.70 (weaker than 76% of peers).Beta 1.12 vs peers 0.70 (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 6, 2026 · compared with the quarter ended Mar 31, 2026

Got stronger

Turned profitable over the last 12 months

	Previous quarter	Latest quarter	Change
Net income (12 months)	−957,000 USD	2.7M USD	turned positive
Debt	1.2B USD	1.2B USD	+0.2%
Cash	9.2M USD	7.7M USD	−17.1%
Shares outstanding	49.8M	49.2M	−1.2%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Asset Management · 43 companies

Valuations in Asset Management are near the top of their range since 2016.

95% of months since 2016 were valued lower than now.
37% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +10% and earnings +13% (medians): prices and earnings moved broadly together.
Median price-to-sales is +31% vs the whole market, against a usual +6%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Return on assets (ROA)	6.7%	2.7%	4.8%	1.7%	-1.1%	▼ 2.9 pts
Return on equity (ROE)	12.8%	5.7%	10.8%	4.1%	-2.9%	▼ 7.0 pts
Debt to equity	0.88×	1.08×	1.23×	1.34×	1.59×	▲ 19%

CION price history

Price history is added with the daily price update and will appear after the next one.

Similar companies

Sector leaderboards

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The Allstate CorporationALL93/ 100

PT Saratoga Investama Sedaya TbkSRTG.JK93/ 100

Bringing the fundamentals into focus…

Overall health

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: higher risk than most peers: its share price swings more than most peers’ (beta 1.12 vs a peer median of 0.70) and more debt relative to equity (1.74× vs a peer median of 0.57×)higher risk: bigger price swings (beta 1.12 vs peers 0.70) and more debt vs equity (1.74× vs peers 0.57×)

Not enough data: growth

Would rank #208 of 232 fully scored financial services companies (bottom 11%)

Partial overall score — 3/4 categories available.

See how it ranks against its peers

Worth knowing

Earnings turned from a loss to a profit. Profit per share this year after a loss last year.

CION Investment made a profit per share in its latest year after a loss the year before.

Valuation signals disagree. Cheaper than 70% of peers on free cash flow, but only 15% on earnings.

Relative to its free cash flow, CION Investment looks cheaper than 70% of peers; relative to its earnings, cheaper than only 15%. The valuation score blends the two, so look at which measure fits this business best.

Share count shrinking. Shares outstanding down 11% from December 2022 to July 2026.

CION Investment had 11% fewer shares at July 2026 than at December 2022, mainly through buybacks, so each remaining share owns a larger slice of the business.

Cash flow well above reported profit. Free cash flow is 16.4× reported profit.

Free cash flow is 16.4× reported profit. Large non-cash charges, such as depreciation, amortization or stock-based pay, reduce reported profit without using cash.

Questions investors ask about CION Investment

Is CION Investment getting weaker?

Its latest SEC filing (Aug 6, 2026) got stronger: turned profitable over the last 12 months. Its overall score is 29/100, down 1 since Oct 28, 2026.

How is CION Investment valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 35/100 against 432 financial services peers. Free cash flow yield 13.2% vs a peer median of 6.1% (stronger than 70% of peers).Free cash flow yield 13.2% vs peers 6.1% (stronger than 70% of peers). Earnings yield 0.8% vs a peer median of 5.7% (weaker than 85% of peers).Earnings yield 0.8% vs peers 5.7% (weaker than 85% of peers).

Is CION Investment growing?

Insufficient data: 1 of 3 inputs reported (at least 2 needed).

How profitable is CION Investment?

Less profitable than most of its peers. Profitability scores 31/100 against 432 financial services peers. Return on assets 0.1% vs a peer median of 2.6% (weaker than 82% of peers).Return on assets 0.1% vs peers 2.6% (weaker than 82% of peers).

How risky is CION Investment?

Higher risk relative to 432 financial services peers, judged on debt, liquidity and share-price swings. Beta 1.12 vs a peer median of 0.70 (weaker than 76% of peers).Beta 1.12 vs peers 0.70 (weaker than 76% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Net income (12 months)

−957,000 USD

2.7M USD

turned positive

Debt

1.2B USD

1.2B USD

+0.2%

Cash

9.2M USD

7.7M USD

−17.1%

Shares outstanding

49.8M

49.2M

−1.2%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Return on assets (ROA)

6.7%

2.7%

4.8%

1.7%

-1.1%

▼ 2.9 pts

Return on equity (ROE)

12.8%

5.7%

10.8%

4.1%

-2.9%

▼ 7.0 pts

Debt to equity

0.88×

1.08×

1.23×

1.34×

1.59×

▲ 19%