CION Investment Corp CION

NYSE

CĪON Investment Corporation, or the Company, was incorporated under the general corporation laws of the State of Maryland on August 9, 2011. When used in this Annual Report on Form 10-K, the terms "we," "us," "our" or similar terms refer to the Company and its consolidated subsidiaries. In addition, the term "portfolio companies" refers to companies in which we have invested, either directly or indirectly through our consolidated subsidiaries. Moreover, the terms:

•"2022 Term Loan" refers to our unsecured term loan with a certain Israeli institutional investor;

•"2024 Term Loan" refers to our unsecured term loan with a certain Israeli institutional investor;

•"Floating Rate 2027 Notes" refers to our floating rate senior unsecured notes due in 2027, which notes were issued in two tranches;

Last close 7.34 2026-09-04
Market cap $361.1M 2026-06-30 share count
52-week range 5.83 - 10.40

Valuation FY2025 figures against the last close

P/S—
P/E—
P/FCF4.7x
EV/EBITDA—
Dividend yield21.6%
Diluted EPS—

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
SG&A $6.3M$7.2M$7.4M$7.3M$9.8M$6.1M—
Total operating expenses $147.9M$156.5M$146.0M$106.3M$82.7M$84.8M—
Interest expense ——$85.6M$49.6M$31.8M$36.8M—
Net income -$20.6M$33.9M$95.3M$50.1M$118.8M-$11.0M—
Shares, diluted (wtd. avg.) 52.3M53.6M54.7M56.56B56.81B56.82B—

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Cash and equivalents $8.2M$7.7M$8.4M$82.7M$3.8M$19.9M$6.1M
Short-term investments —$113.4M$113.4M————
Total assets $1.85B$1.95B$2.00B$1.87B$1.78B——
Long-term debt $1.13B$1.10B$1.08B$951.3M$822.4M——
Total liabilities $1.15B$1.12B$1.12B$988.8M$852.2M——
Retained earnings -$296.9M-$200.9M-$153.5M-$161.0M-$129.5M——
Total equity $707.6M$820.8M$879.6M$883.6M$930.5M$878.3M$952.6M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019
Operating cash flow $76.8M$88.2M-$97.2M$35.3M-$49.2M$198.7M—
Financing cash flow -$76.3M-$88.9M$22.8M$43.7M$33.1M-$185.0M—
Dividends paid $78.0M$89.5M$92.0M$66.6M$56.0M$40.0M—
Buybacks $17.2M$11.3M$11.5M$15.4M$10.5M$23.3M—

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001534254-26-000003.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Total liabilities
  • Inventory
  • Total current assets
Total liabilities, Inventory, Total current assets by fiscal year, in US dollars The same figures are in the table below this chart. 0 500M 1B 1.5B Total liabilities, FY2021: 852.2M Total liabilities, FY2022: 988.8M Total liabilities, FY2023: 1.1B Total liabilities, FY2024: 1.1B Total liabilities, FY2025: 1.1B FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Total liabilities — — $852.2M $988.8M $1.12B $1.12B $1.15B
Inventory — — — — — — —
Total current assets — — — — — — —

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
  • New debt or obligation The company has taken on debt or a comparable obligation. Item 2.03
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.