Annual Income Statements for CION Investment
This table shows CION Investment's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.
Quarterly Income Statements for CION Investment
This table shows CION Investment's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Income / (Loss) Attributable to Common Shareholders |
|
-24 |
59 |
-31 |
29 |
47 |
50 |
6.51 |
21 |
-0.38 |
6.69 |
Consolidated Net Income / (Loss) |
|
-24 |
59 |
-27 |
28 |
47 |
46 |
6.51 |
22 |
-0.38 |
5.39 |
Net Income / (Loss) Continuing Operations |
|
-24 |
59 |
-27 |
29 |
47 |
45 |
6.51 |
21 |
-0.38 |
6.69 |
Total Pre-Tax Income |
|
-24 |
59 |
-27 |
29 |
47 |
45 |
6.51 |
21 |
-0.38 |
6.69 |
Total Revenue |
|
-22 |
151 |
-11 |
74 |
85 |
93 |
-24 |
69 |
38 |
108 |
Net Interest Income / (Expense) |
|
-13 |
208 |
34 |
-20 |
64 |
153 |
-24 |
-19 |
53 |
218 |
Total Interest Income |
|
0.00 |
184 |
54 |
0.05 |
64 |
113 |
0.00 |
5.15 |
53 |
170 |
Total Interest Expense |
|
13 |
-24 |
19 |
20 |
0.00 |
-40 |
24 |
24 |
0.00 |
-48 |
Total Non-Interest Income |
|
-8.76 |
-57 |
-45 |
94 |
21 |
-60 |
0.00 |
88 |
-16 |
-110 |
Total Non-Interest Expense |
|
2.03 |
92 |
16 |
44 |
38 |
48 |
-31 |
48 |
38 |
101 |
Other Operating Expenses |
|
2.03 |
74 |
9.47 |
44 |
31 |
39 |
-31 |
48 |
33 |
85 |
Weighted Average Basic Shares Outstanding |
|
56.82M |
56.56B |
55.11M |
54.79M |
54.56M |
54.69M |
53.96M |
53.60M |
53.44M |
53.56M |
Weighted Average Diluted Shares Outstanding |
|
56.82M |
56.56B |
55.11M |
54.79M |
54.56M |
54.69M |
53.96M |
53.60M |
53.44M |
53.56M |
Weighted Average Basic & Diluted Shares Outstanding |
|
55.43M |
55.02M |
54.80M |
54.58M |
54.30M |
53.84M |
53.59M |
53.45M |
53.29M |
53.03M |
Annual Cash Flow Statements for CION Investment
This table details how cash moves in and out of CION Investment's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.
Metric |
2021 |
2022 |
2023 |
2024 |
Net Change in Cash & Equivalents |
-16 |
79 |
-74 |
-0.75 |
Net Cash From Operating Activities |
-49 |
35 |
-97 |
88 |
Net Cash From Continuing Operating Activities |
-49 |
35 |
-97 |
88 |
Net Income / (Loss) Continuing Operations |
119 |
50 |
95 |
34 |
Consolidated Net Income / (Loss) |
119 |
50 |
95 |
34 |
Depreciation Expense |
-44 |
5.31 |
-22 |
34 |
Amortization Expense |
-8.94 |
-7.86 |
-9.43 |
-11 |
Non-Cash Adjustments to Reconcile Net Income |
-115 |
-79 |
-50 |
6.18 |
Changes in Operating Assets and Liabilities, net |
-0.80 |
67 |
-111 |
26 |
Net Cash From Investing Activities |
0.00 |
0.00 |
0.00 |
0.00 |
Net Cash From Continuing Investing Activities |
0.00 |
0.00 |
0.00 |
0.00 |
Net Cash From Financing Activities |
33 |
44 |
23 |
-89 |
Net Cash From Continuing Financing Activities |
33 |
44 |
23 |
-89 |
Issuance of Debt |
276 |
128 |
237 |
303 |
Repayment of Debt |
-176 |
-1.73 |
-111 |
-291 |
Repurchase of Common Equity |
-10 |
-15 |
-12 |
-11 |
Payment of Dividends |
-56 |
-67 |
-92 |
-89 |
Cash Interest Paid |
27 |
43 |
79 |
93 |
Quarterly Cash Flow Statements for CION Investment
This table details how cash moves in and out of CION Investment's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Net Change in Cash & Equivalents |
|
1.12 |
39 |
13 |
-85 |
-4.71 |
1.61 |
40 |
-39 |
20 |
-22 |
Net Cash From Operating Activities |
|
15 |
65 |
0.31 |
-36 |
-6.86 |
-55 |
96 |
-17 |
52 |
-43 |
Net Cash From Continuing Operating Activities |
|
15 |
65 |
0.31 |
-36 |
-6.86 |
-55 |
96 |
-17 |
52 |
-43 |
Net Income / (Loss) Continuing Operations |
|
34 |
9.54 |
-31 |
28 |
47 |
51 |
6.45 |
22 |
-0.38 |
5.46 |
Consolidated Net Income / (Loss) |
|
34 |
9.54 |
-31 |
28 |
47 |
51 |
6.45 |
22 |
-0.38 |
5.46 |
Depreciation Expense |
|
-26 |
-1.35 |
56 |
-23 |
-26 |
-30 |
16 |
-20 |
26 |
11 |
Amortization Expense |
|
-3.36 |
-1.03 |
-3.45 |
-1.60 |
-2.92 |
-1.46 |
-10 |
-0.38 |
-0.54 |
0.15 |
Non-Cash Adjustments to Reconcile Net Income |
|
23 |
50 |
-14 |
53 |
-8.67 |
-80 |
79 |
-44 |
47 |
-77 |
Changes in Operating Assets and Liabilities, net |
|
-12 |
7.47 |
-7.31 |
-92 |
-17 |
5.33 |
4.41 |
25 |
-20 |
17 |
Net Cash From Financing Activities |
|
-14 |
-26 |
13 |
-49 |
2.15 |
56 |
-56 |
-22 |
-32 |
21 |
Net Cash From Continuing Financing Activities |
|
-14 |
-26 |
13 |
-49 |
2.15 |
56 |
-56 |
-22 |
-32 |
21 |
Issuance of Debt |
|
10 |
- |
81 |
- |
23 |
134 |
0.00 |
- |
130 |
173 |
Repayment of Debt |
|
- |
- |
-31 |
-27 |
- |
-54 |
-23 |
- |
-138 |
-130 |
Repurchase of Common Equity |
|
-6.71 |
-8.73 |
-3.59 |
-3.23 |
-1.80 |
-2.90 |
-4.67 |
-2.67 |
-2.00 |
-2.00 |
Payment of Dividends |
|
-18 |
-17 |
-34 |
-19 |
-19 |
-21 |
-29 |
-19 |
-22 |
-19 |
Cash Interest Paid |
|
13 |
13 |
19 |
18 |
22 |
20 |
25 |
21 |
25 |
22 |
Annual Balance Sheets for CION Investment
This table presents CION Investment's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.
Metric |
2021 |
2022 |
2023 |
2024 |
Total Assets |
1,783 |
1,872 |
2,002 |
1,946 |
Cash and Due from Banks |
3.77 |
83 |
8.42 |
7.67 |
Trading Account Securities |
- |
- |
1,954 |
1,895 |
Loans and Leases, Net of Allowance |
0.00 |
0.00 |
0.00 |
0.00 |
Other Assets |
33 |
1,790 |
39 |
49 |
Total Liabilities & Shareholders' Equity |
1,783 |
1,872 |
2,002 |
1,946 |
Total Liabilities |
852 |
989 |
1,122 |
1,125 |
Accrued Interest Payable |
4.34 |
7.82 |
10 |
8.24 |
Long-Term Debt |
822 |
951 |
1,082 |
1,099 |
Other Long-Term Liabilities |
25 |
30 |
30 |
17 |
Commitments & Contingencies |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
931 |
884 |
880 |
821 |
Total Preferred & Common Equity |
931 |
884 |
880 |
821 |
Total Common Equity |
931 |
884 |
880 |
821 |
Common Stock |
1,060 |
1,045 |
1,033 |
1,022 |
Retained Earnings |
-130 |
-161 |
-154 |
-201 |
Quarterly Balance Sheets for CION Investment
This table presents CION Investment's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.
Metric |
|
Q3 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Total Assets |
|
1,886 |
1,854 |
1,835 |
1,896 |
1,968 |
1,960 |
1,916 |
Cash and Due from Banks |
|
44 |
96 |
12 |
6.81 |
48 |
9.80 |
30 |
Loans and Leases, Net of Allowance |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Other Assets |
|
45 |
46 |
1,823 |
1,890 |
1,920 |
1,962 |
1,886 |
Total Liabilities & Shareholders' Equity |
|
1,886 |
1,854 |
1,835 |
1,896 |
1,968 |
1,960 |
1,916 |
Total Liabilities |
|
971 |
1,024 |
998 |
1,036 |
1,105 |
1,100 |
1,076 |
Accrued Interest Payable |
|
5.14 |
7.01 |
8.18 |
7.24 |
8.56 |
9.61 |
7.20 |
Long-Term Debt |
|
950 |
1,002 |
977 |
1,000 |
1,060 |
1,062 |
1,055 |
Other Long-Term Liabilities |
|
15 |
15 |
13 |
28 |
36 |
28 |
14 |
Commitments & Contingencies |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Total Equity & Noncontrolling Interests |
|
915 |
830 |
836 |
861 |
863 |
861 |
839 |
Total Preferred & Common Equity |
|
915 |
830 |
836 |
861 |
863 |
861 |
839 |
Total Common Equity |
|
915 |
830 |
836 |
861 |
863 |
861 |
839 |
Common Stock |
|
1,053 |
1,041 |
1,038 |
1,036 |
1,028 |
1,026 |
1,024 |
Retained Earnings |
|
-138 |
-211 |
-201 |
-175 |
-165 |
-165 |
-185 |
Annual Metrics And Ratios for CION Investment
This table displays calculated financial ratios and metrics derived from CION Investment's official financial filings.
Metric |
2021 |
2022 |
2023 |
2024 |
Growth Metrics |
- |
- |
- |
- |
Revenue Growth |
47.69% |
593.09% |
53.86% |
-21.06% |
EBITDA Growth |
78.79% |
343.88% |
33.74% |
-11.46% |
EBIT Growth |
131.85% |
51.78% |
90.08% |
-64.43% |
NOPAT Growth |
145.50% |
51.78% |
90.08% |
-64.43% |
Net Income Growth |
399.74% |
51.78% |
90.08% |
-64.43% |
EPS Growth |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Cash Flow Growth |
-124.78% |
171.63% |
-375.39% |
190.78% |
Free Cash Flow Firm Growth |
0.00% |
98.14% |
2.93% |
342.53% |
Invested Capital Growth |
0.00% |
4.68% |
6.88% |
-2.10% |
Revenue Q/Q Growth |
0.00% |
0.00% |
160.62% |
226.01% |
EBITDA Q/Q Growth |
0.00% |
0.00% |
-27.22% |
283.19% |
EBIT Q/Q Growth |
0.00% |
0.00% |
5.37% |
406.81% |
NOPAT Q/Q Growth |
0.00% |
0.00% |
5.37% |
538.29% |
Net Income Q/Q Growth |
0.00% |
0.00% |
6.15% |
508.16% |
EPS Q/Q Growth |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Cash Flow Q/Q Growth |
0.00% |
232.69% |
-533.61% |
14.51% |
Free Cash Flow Firm Q/Q Growth |
0.00% |
0.00% |
0.00% |
283.91% |
Invested Capital Q/Q Growth |
0.00% |
0.00% |
5.39% |
1.37% |
Profitability Metrics |
- |
- |
- |
- |
EBITDA Margin |
0.00% |
30.35% |
26.38% |
29.59% |
EBIT Margin |
0.00% |
31.97% |
39.50% |
17.80% |
Profit (Net Income) Margin |
0.00% |
31.97% |
39.50% |
17.80% |
Tax Burden Percent |
100.00% |
100.00% |
100.00% |
100.00% |
Interest Burden Percent |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
0.00% |
2.80% |
5.02% |
1.75% |
ROIC Less NNEP Spread (ROIC-NNEP) |
0.00% |
2.80% |
5.02% |
1.75% |
Return on Net Nonoperating Assets (RNNOA) |
0.00% |
2.73% |
5.79% |
2.24% |
Return on Equity (ROE) |
3.55% |
5.53% |
10.81% |
3.99% |
Cash Return on Invested Capital (CROIC) |
-196.23% |
-1.78% |
-1.63% |
3.87% |
Operating Return on Assets (OROA) |
0.00% |
2.74% |
4.92% |
1.72% |
Return on Assets (ROA) |
0.00% |
2.74% |
4.92% |
1.72% |
Return on Common Equity (ROCE) |
3.55% |
5.53% |
10.81% |
3.99% |
Return on Equity Simple (ROE_SIMPLE) |
3.55% |
5.67% |
10.84% |
4.13% |
Net Operating Profit after Tax (NOPAT) |
33 |
50 |
95 |
34 |
NOPAT Margin |
0.00% |
31.97% |
39.50% |
17.80% |
Net Nonoperating Expense Percent (NNEP) |
0.00% |
0.00% |
0.00% |
0.00% |
SG&A Expenses to Revenue |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
0.00% |
68.03% |
60.50% |
82.20% |
Earnings before Interest and Taxes (EBIT) |
33 |
50 |
95 |
34 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
-20 |
48 |
64 |
56 |
Valuation Ratios |
- |
- |
- |
- |
Price to Book Value (P/BV) |
0.00 |
0.46 |
0.61 |
0.00 |
Price to Tangible Book Value (P/TBV) |
0.00 |
0.46 |
0.61 |
0.00 |
Price to Revenue (P/Rev) |
0.00 |
2.59 |
2.23 |
0.00 |
Price to Earnings (P/E) |
0.00 |
8.10 |
5.66 |
0.00 |
Dividend Yield |
4.69% |
19.78% |
16.22% |
13.33% |
Earnings Yield |
0.00% |
12.34% |
17.68% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
0.00 |
0.69 |
0.82 |
0.00 |
Enterprise Value to Revenue (EV/Rev) |
0.00 |
8.13 |
6.68 |
0.00 |
Enterprise Value to EBITDA (EV/EBITDA) |
0.00 |
26.78 |
25.33 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
0.00 |
25.43 |
16.92 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
0.00 |
25.43 |
16.92 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
0.00 |
36.14 |
0.00 |
0.00 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
- |
- |
- |
- |
Debt to Equity |
0.88 |
1.08 |
1.23 |
1.34 |
Long-Term Debt to Equity |
0.88 |
1.08 |
1.23 |
1.34 |
Financial Leverage |
0.88 |
0.98 |
1.15 |
1.28 |
Leverage Ratio |
1.92 |
2.01 |
2.20 |
2.32 |
Compound Leverage Factor |
1.92 |
2.01 |
2.20 |
2.32 |
Debt to Total Capital |
46.92% |
51.84% |
55.15% |
57.25% |
Short-Term Debt to Total Capital |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
46.92% |
51.84% |
55.15% |
57.25% |
Preferred Equity to Total Capital |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
53.08% |
48.16% |
44.85% |
42.75% |
Debt to EBITDA |
-42.13 |
19.99 |
16.99 |
19.50 |
Net Debt to EBITDA |
-41.94 |
18.25 |
16.86 |
19.36 |
Long-Term Debt to EBITDA |
-42.13 |
19.99 |
16.99 |
19.50 |
Debt to NOPAT |
24.89 |
18.97 |
11.35 |
32.42 |
Net Debt to NOPAT |
24.78 |
17.32 |
11.26 |
32.20 |
Long-Term Debt to NOPAT |
24.89 |
18.97 |
11.35 |
32.42 |
Noncontrolling Interest Sharing Ratio |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
- |
- |
- |
- |
Cash Flow Metrics |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
-1,720 |
-32 |
-31 |
75 |
Operating Cash Flow to CapEx |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
-54.07 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
-1.55 |
0.00 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
-1.55 |
0.00 |
0.00 |
0.00 |
Efficiency Ratios |
- |
- |
- |
- |
Asset Turnover |
0.00 |
0.09 |
0.12 |
0.10 |
Fixed Asset Turnover |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
- |
- |
- |
- |
Invested Capital |
1,753 |
1,835 |
1,961 |
1,920 |
Invested Capital Turnover |
0.00 |
0.09 |
0.13 |
0.10 |
Increase / (Decrease) in Invested Capital |
1,753 |
82 |
126 |
-41 |
Enterprise Value (EV) |
0.00 |
1,275 |
1,612 |
0.00 |
Market Capitalization |
0.00 |
406 |
539 |
0.00 |
Book Value per Share |
$0.02 |
$15.94 |
$16.20 |
$15.40 |
Tangible Book Value per Share |
$0.02 |
$15.94 |
$16.20 |
$15.40 |
Total Capital |
1,753 |
1,835 |
1,961 |
1,920 |
Total Debt |
822 |
951 |
1,082 |
1,099 |
Total Long-Term Debt |
822 |
951 |
1,082 |
1,099 |
Net Debt |
819 |
869 |
1,073 |
1,092 |
Capital Expenditures (CapEx) |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Obligations (NNO) |
822 |
951 |
1,082 |
1,099 |
Total Depreciation and Amortization (D&A) |
-53 |
-2.54 |
-32 |
22 |
Earnings Adjustments |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic Shares Outstanding |
0.00 |
56.56B |
54.69M |
53.56M |
Adjusted Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Diluted Shares Outstanding |
0.00 |
56.56B |
54.69M |
53.56M |
Adjusted Basic & Diluted Earnings per Share |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
0.00 |
55.02M |
53.84M |
53.03M |
Normalized Net Operating Profit after Tax (NOPAT) |
23 |
35 |
67 |
24 |
Normalized NOPAT Margin |
0.00% |
22.38% |
27.65% |
12.46% |
Pre Tax Income Margin |
0.00% |
31.97% |
39.50% |
17.80% |
Debt Service Ratios |
- |
- |
- |
- |
EBIT to Interest Expense |
1.04 |
0.00 |
0.00 |
0.00 |
NOPAT to Interest Expense |
1.04 |
0.00 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
1.04 |
0.00 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
1.04 |
0.00 |
0.00 |
0.00 |
Payout Ratios |
- |
- |
- |
- |
Dividend Payout Ratio |
169.63% |
132.91% |
96.48% |
263.94% |
Augmented Payout Ratio |
201.31% |
163.70% |
108.57% |
297.41% |
Quarterly Metrics And Ratios for CION Investment
This table displays calculated financial ratios and metrics derived from CION Investment's official financial filings.
Metric |
|
Q3 2022 |
Q4 2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Q4 2023 |
Q1 2024 |
Q2 2024 |
Q3 2024 |
Q4 2024 |
Growth Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Revenue Growth |
|
-209.98% |
0.00% |
-155.34% |
738.34% |
482.47% |
-38.27% |
-126.87% |
-6.25% |
-55.74% |
15.86% |
EBITDA Growth |
|
-312.69% |
0.00% |
43.57% |
-83.43% |
135.60% |
-75.16% |
-52.62% |
-76.68% |
32.06% |
27.57% |
EBIT Growth |
|
-196.96% |
0.00% |
-405.71% |
313.54% |
295.71% |
-23.21% |
124.56% |
-28.15% |
-100.80% |
-85.14% |
NOPAT Growth |
|
-167.87% |
0.00% |
-313.99% |
313.54% |
379.58% |
-23.21% |
135.08% |
-28.15% |
-100.56% |
-85.14% |
Net Income Growth |
|
-196.96% |
0.00% |
-436.16% |
293.15% |
295.71% |
-21.80% |
124.56% |
-19.77% |
-100.80% |
-88.40% |
EPS Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Cash Flow Growth |
|
0.00% |
2,002.75% |
102.11% |
-18.09% |
-144.43% |
-184.06% |
31,183.44% |
53.53% |
858.29% |
20.46% |
Free Cash Flow Firm Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
102.76% |
0.00% |
95.45% |
95.05% |
-164.37% |
158.99% |
Invested Capital Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
-0.24% |
6.88% |
4.95% |
6.03% |
1.78% |
-2.10% |
Revenue Q/Q Growth |
|
-352.41% |
778.83% |
80.72% |
789.26% |
15.16% |
9.57% |
61.63% |
384.82% |
-45.63% |
186.82% |
EBITDA Q/Q Growth |
|
-303.37% |
205.72% |
-30.09% |
-83.59% |
336.98% |
-26.24% |
-56.06% |
-91.92% |
2,374.48% |
-28.74% |
EBIT Q/Q Growth |
|
-441.89% |
341.71% |
-166.03% |
210.64% |
61.80% |
-5.17% |
-89.06% |
223.73% |
-101.80% |
1,864.64% |
NOPAT Q/Q Growth |
|
-339.32% |
445.30% |
-146.22% |
258.05% |
61.80% |
-5.17% |
-89.06% |
223.73% |
-101.26% |
2,620.92% |
Net Income Q/Q Growth |
|
-441.89% |
344.95% |
-164.77% |
205.18% |
70.19% |
-2.12% |
-92.77% |
243.64% |
-101.69% |
1,522.43% |
EPS Q/Q Growth |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Cash Flow Q/Q Growth |
|
150.63% |
320.85% |
-99.53% |
-11,788.31% |
80.95% |
-696.30% |
276.46% |
-117.36% |
410.81% |
-183.52% |
Free Cash Flow Firm Q/Q Growth |
|
0.00% |
100.00% |
0.00% |
3.65% |
102.91% |
-256.64% |
-26.22% |
-4.79% |
62.19% |
243.56% |
Invested Capital Q/Q Growth |
|
0.00% |
-1.63% |
-0.12% |
-1.07% |
2.64% |
5.39% |
-1.92% |
-0.05% |
-1.48% |
1.37% |
Profitability Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBITDA Margin |
|
0.00% |
37.28% |
0.00% |
5.87% |
22.28% |
15.00% |
0.00% |
1.46% |
66.48% |
16.52% |
EBIT Margin |
|
0.00% |
38.85% |
0.00% |
39.74% |
55.84% |
48.33% |
0.00% |
30.46% |
-1.01% |
6.20% |
Profit (Net Income) Margin |
|
0.00% |
39.37% |
0.00% |
37.78% |
55.84% |
49.88% |
0.00% |
32.33% |
-1.01% |
5.00% |
Tax Burden Percent |
|
100.00% |
101.34% |
100.00% |
95.07% |
100.00% |
103.21% |
100.00% |
106.15% |
100.00% |
80.61% |
Interest Burden Percent |
|
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
100.00% |
Effective Tax Rate |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Return on Invested Capital (ROIC) |
|
0.00% |
3.32% |
0.00% |
0.00% |
2.77% |
6.14% |
0.00% |
0.00% |
0.00% |
0.61% |
ROIC Less NNEP Spread (ROIC-NNEP) |
|
0.00% |
3.40% |
0.00% |
0.00% |
2.77% |
6.29% |
0.00% |
0.00% |
0.00% |
0.49% |
Return on Net Nonoperating Assets (RNNOA) |
|
0.00% |
3.66% |
0.00% |
0.00% |
3.05% |
7.25% |
0.00% |
0.00% |
0.00% |
0.63% |
Return on Equity (ROE) |
|
0.00% |
6.99% |
-0.33% |
2.16% |
5.82% |
13.39% |
5.32% |
4.66% |
-0.98% |
1.24% |
Cash Return on Invested Capital (CROIC) |
|
0.00% |
-1.74% |
0.00% |
0.00% |
0.00% |
-1.63% |
-2.44% |
-3.89% |
-2.18% |
3.87% |
Operating Return on Assets (OROA) |
|
0.00% |
3.33% |
0.00% |
0.00% |
2.73% |
6.02% |
0.00% |
0.00% |
0.00% |
0.60% |
Return on Assets (ROA) |
|
0.00% |
3.38% |
0.00% |
0.00% |
2.73% |
6.21% |
0.00% |
0.00% |
0.00% |
0.48% |
Return on Common Equity (ROCE) |
|
0.00% |
6.99% |
-0.33% |
2.16% |
5.82% |
13.39% |
5.32% |
4.66% |
-0.98% |
1.24% |
Return on Equity Simple (ROE_SIMPLE) |
|
0.00% |
0.00% |
-0.33% |
2.16% |
10.43% |
0.00% |
5.22% |
4.59% |
-0.99% |
0.00% |
Net Operating Profit after Tax (NOPAT) |
|
-17 |
59 |
-19 |
29 |
47 |
45 |
6.51 |
21 |
-0.27 |
6.69 |
NOPAT Margin |
|
0.00% |
38.85% |
0.00% |
39.74% |
55.84% |
48.33% |
0.00% |
30.46% |
-0.71% |
6.20% |
Net Nonoperating Expense Percent (NNEP) |
|
1.53% |
-0.08% |
1.59% |
0.30% |
0.00% |
-0.14% |
0.00% |
-0.13% |
0.01% |
0.12% |
SG&A Expenses to Revenue |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Operating Expenses to Revenue |
|
0.00% |
61.15% |
0.00% |
60.26% |
44.16% |
51.67% |
0.00% |
69.54% |
101.01% |
93.80% |
Earnings before Interest and Taxes (EBIT) |
|
-24 |
59 |
-27 |
29 |
47 |
45 |
6.51 |
21 |
-0.38 |
6.69 |
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA) |
|
-53 |
56 |
26 |
4.34 |
19 |
14 |
13 |
1.01 |
25 |
18 |
Valuation Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Price to Book Value (P/BV) |
|
0.00 |
0.46 |
0.56 |
0.59 |
0.58 |
0.61 |
0.69 |
0.75 |
0.76 |
0.00 |
Price to Tangible Book Value (P/TBV) |
|
0.00 |
0.46 |
0.56 |
0.59 |
0.58 |
0.61 |
0.69 |
0.75 |
0.76 |
0.00 |
Price to Revenue (P/Rev) |
|
0.00 |
2.59 |
0.00 |
0.00 |
5.40 |
2.23 |
0.00 |
0.00 |
0.00 |
0.00 |
Price to Earnings (P/E) |
|
0.00 |
8.10 |
0.00 |
34.48 |
5.81 |
5.66 |
11.94 |
15.72 |
0.00 |
0.00 |
Dividend Yield |
|
19.35% |
19.78% |
17.80% |
17.57% |
18.02% |
16.22% |
14.64% |
13.86% |
14.29% |
13.33% |
Earnings Yield |
|
0.00% |
12.34% |
0.00% |
2.90% |
17.20% |
17.68% |
8.37% |
6.36% |
0.00% |
0.00% |
Enterprise Value to Invested Capital (EV/IC) |
|
0.00 |
0.69 |
0.75 |
0.80 |
0.80 |
0.82 |
0.83 |
0.89 |
0.88 |
0.00 |
Enterprise Value to Revenue (EV/Rev) |
|
0.00 |
8.13 |
0.00 |
0.00 |
16.13 |
6.68 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to EBITDA (EV/EBITDA) |
|
0.00 |
26.78 |
36.96 |
94.97 |
17.07 |
25.33 |
0.00 |
0.00 |
0.00 |
0.00 |
Enterprise Value to EBIT (EV/EBIT) |
|
0.00 |
25.43 |
0.00 |
77.69 |
16.51 |
16.92 |
35.60 |
46.23 |
0.00 |
0.00 |
Enterprise Value to NOPAT (EV/NOPAT) |
|
0.00 |
25.43 |
0.00 |
77.69 |
16.51 |
16.92 |
35.60 |
46.23 |
0.00 |
0.00 |
Enterprise Value to Operating Cash Flow (EV/OCF) |
|
0.00 |
36.14 |
27.35 |
32.55 |
66.64 |
0.00 |
0.00 |
93.66 |
21.57 |
0.00 |
Enterprise Value to Free Cash Flow (EV/FCFF) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Leverage & Solvency |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Debt to Equity |
|
1.04 |
1.08 |
1.21 |
1.17 |
1.16 |
1.23 |
1.23 |
1.23 |
1.26 |
1.34 |
Long-Term Debt to Equity |
|
1.04 |
1.08 |
1.21 |
1.17 |
1.16 |
1.23 |
1.23 |
1.23 |
1.26 |
1.34 |
Financial Leverage |
|
1.04 |
1.08 |
1.21 |
1.17 |
1.10 |
1.15 |
1.22 |
1.20 |
1.21 |
1.28 |
Leverage Ratio |
|
2.06 |
2.01 |
2.23 |
2.19 |
2.13 |
2.20 |
2.26 |
2.24 |
2.24 |
2.32 |
Compound Leverage Factor |
|
2.06 |
2.01 |
2.23 |
2.19 |
2.13 |
2.20 |
2.26 |
2.24 |
2.24 |
2.32 |
Debt to Total Capital |
|
50.95% |
51.84% |
54.69% |
53.87% |
53.75% |
55.15% |
55.13% |
55.23% |
55.69% |
57.25% |
Short-Term Debt to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Long-Term Debt to Total Capital |
|
50.95% |
51.84% |
54.69% |
53.87% |
53.75% |
55.15% |
55.13% |
55.23% |
55.69% |
57.25% |
Preferred Equity to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Noncontrolling Interests to Total Capital |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Common Equity to Total Capital |
|
49.05% |
48.16% |
45.31% |
46.13% |
46.25% |
44.85% |
44.87% |
44.78% |
44.31% |
42.75% |
Debt to EBITDA |
|
0.00 |
19.99 |
26.98 |
63.76 |
11.43 |
16.99 |
-31.64 |
-28.82 |
-34.28 |
19.50 |
Net Debt to EBITDA |
|
0.00 |
18.25 |
24.40 |
63.01 |
11.36 |
16.86 |
-30.19 |
-28.55 |
-33.32 |
19.36 |
Long-Term Debt to EBITDA |
|
0.00 |
19.99 |
26.98 |
63.76 |
11.43 |
16.99 |
-31.64 |
-28.82 |
-34.28 |
19.50 |
Debt to NOPAT |
|
0.00 |
18.97 |
-406.82 |
52.16 |
11.06 |
11.35 |
23.53 |
28.85 |
-136.38 |
32.42 |
Net Debt to NOPAT |
|
0.00 |
17.32 |
-367.85 |
51.54 |
10.98 |
11.26 |
22.46 |
28.58 |
-132.53 |
32.20 |
Long-Term Debt to NOPAT |
|
0.00 |
18.97 |
-406.82 |
52.16 |
11.06 |
11.35 |
23.53 |
28.85 |
-136.38 |
32.42 |
Noncontrolling Interest Sharing Ratio |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Liquidity Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Cash Flow Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Free Cash Flow to Firm (FCFF) |
|
-1,882 |
0.00 |
-1,851 |
-1,784 |
52 |
-81 |
-84 |
-88 |
-33 |
48 |
Operating Cash Flow to CapEx |
|
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
0.00% |
Free Cash Flow to Firm to Interest Expense |
|
-139.76 |
0.00 |
-95.88 |
-87.15 |
0.00 |
0.00 |
-3.47 |
-3.72 |
0.00 |
0.00 |
Operating Cash Flow to Interest Expense |
|
1.15 |
0.00 |
0.02 |
-1.76 |
0.00 |
0.00 |
3.96 |
-0.70 |
0.00 |
0.00 |
Operating Cash Flow Less CapEx to Interest Expense |
|
1.15 |
0.00 |
0.02 |
-1.76 |
0.00 |
0.00 |
3.96 |
-0.70 |
0.00 |
0.00 |
Efficiency Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Asset Turnover |
|
0.00 |
0.09 |
0.00 |
0.00 |
0.05 |
0.12 |
0.00 |
0.00 |
0.00 |
0.10 |
Fixed Asset Turnover |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Capital & Investment Metrics |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Invested Capital |
|
1,865 |
1,835 |
1,833 |
1,813 |
1,861 |
1,961 |
1,924 |
1,923 |
1,894 |
1,920 |
Invested Capital Turnover |
|
0.00 |
0.09 |
0.00 |
0.00 |
0.05 |
0.13 |
0.00 |
0.00 |
0.00 |
0.10 |
Increase / (Decrease) in Invested Capital |
|
1,865 |
0.00 |
1,833 |
1,813 |
-4.42 |
126 |
91 |
109 |
33 |
-41 |
Enterprise Value (EV) |
|
0.00 |
1,275 |
1,373 |
1,455 |
1,493 |
1,612 |
1,604 |
1,701 |
1,661 |
0.00 |
Market Capitalization |
|
0.00 |
406 |
467 |
490 |
500 |
539 |
592 |
650 |
636 |
0.00 |
Book Value per Share |
|
$16.10 |
$15.94 |
$15.09 |
$15.26 |
$15.77 |
$16.20 |
$16.03 |
$16.06 |
$15.70 |
$15.40 |
Tangible Book Value per Share |
|
$16.10 |
$15.94 |
$15.09 |
$15.26 |
$15.77 |
$16.20 |
$16.03 |
$16.06 |
$15.70 |
$15.40 |
Total Capital |
|
1,865 |
1,835 |
1,833 |
1,813 |
1,861 |
1,961 |
1,924 |
1,923 |
1,894 |
1,920 |
Total Debt |
|
950 |
951 |
1,002 |
977 |
1,000 |
1,082 |
1,060 |
1,062 |
1,055 |
1,099 |
Total Long-Term Debt |
|
950 |
951 |
1,002 |
977 |
1,000 |
1,082 |
1,060 |
1,062 |
1,055 |
1,099 |
Net Debt |
|
907 |
869 |
906 |
965 |
993 |
1,073 |
1,012 |
1,052 |
1,025 |
1,092 |
Capital Expenditures (CapEx) |
|
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
0.00 |
Net Nonoperating Expense (NNE) |
|
7.28 |
-0.79 |
7.96 |
1.45 |
0.00 |
-1.45 |
0.00 |
-1.30 |
0.11 |
1.30 |
Net Nonoperating Obligations (NNO) |
|
950 |
951 |
1,002 |
977 |
1,000 |
1,082 |
1,060 |
1,062 |
1,055 |
1,099 |
Total Depreciation and Amortization (D&A) |
|
-29 |
-2.38 |
53 |
-25 |
-29 |
-31 |
6.00 |
-20 |
25 |
11 |
Earnings Adjustments |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Adjusted Basic Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic Shares Outstanding |
|
56.82B |
56.56B |
55.11M |
54.79M |
54.56M |
54.69M |
53.96M |
53.60M |
53.44M |
53.56M |
Adjusted Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Diluted Shares Outstanding |
|
56.82B |
56.56B |
55.11M |
54.79M |
54.56M |
54.69M |
53.96M |
53.60M |
53.44M |
53.56M |
Adjusted Basic & Diluted Earnings per Share |
|
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
$0.00 |
Adjusted Weighted Average Basic & Diluted Shares Outstanding |
|
55.43M |
55.02M |
54.80M |
54.58M |
54.30M |
53.84M |
53.59M |
53.45M |
53.29M |
53.03M |
Normalized Net Operating Profit after Tax (NOPAT) |
|
-17 |
41 |
-19 |
21 |
33 |
32 |
4.56 |
15 |
-0.27 |
4.68 |
Normalized NOPAT Margin |
|
0.00% |
27.20% |
0.00% |
27.82% |
39.08% |
33.83% |
0.00% |
21.32% |
-0.71% |
4.34% |
Pre Tax Income Margin |
|
0.00% |
38.85% |
0.00% |
39.74% |
55.84% |
48.33% |
0.00% |
30.46% |
-1.01% |
6.20% |
Debt Service Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
EBIT to Interest Expense |
|
-1.80 |
0.00 |
-1.37 |
1.43 |
0.00 |
0.00 |
0.27 |
0.89 |
0.00 |
0.00 |
NOPAT to Interest Expense |
|
-1.26 |
0.00 |
-0.96 |
1.43 |
0.00 |
0.00 |
0.27 |
0.89 |
0.00 |
0.00 |
EBIT Less CapEx to Interest Expense |
|
-1.80 |
0.00 |
-1.37 |
1.43 |
0.00 |
0.00 |
0.27 |
0.89 |
0.00 |
0.00 |
NOPAT Less CapEx to Interest Expense |
|
-1.26 |
0.00 |
-0.96 |
1.43 |
0.00 |
0.00 |
0.27 |
0.89 |
0.00 |
0.00 |
Payout Ratios |
|
- |
- |
- |
- |
- |
- |
- |
- |
- |
- |
Dividend Payout Ratio |
|
0.00% |
132.91% |
-3,083.91% |
481.48% |
97.92% |
96.48% |
194.09% |
222.85% |
-1,101.46% |
263.94% |
Augmented Payout Ratio |
|
0.00% |
163.70% |
-3,780.18% |
604.71% |
117.24% |
108.57% |
222.04% |
253.30% |
-1,248.86% |
297.41% |
Key Financial Trends
CION Investment Corp (NYSE: CION) Financial Overview (2022 - 2024)
Analyzing CION Investment Corp's financial performance over the last four years reveals several key trends across income, cash flow, and balance sheet metrics.
- Net Interest Income Growth: Total interest income increased significantly from Q4 2022 ($183.9M) to Q4 2024 ($169.7M in the last quarter shows some slowdown but still strong compared to prior periods), with net interest income staying positive and strong, e.g., $217.8M in Q4 2024 compared to $208.2M in Q4 2022.
- Improved Net Income in 2024: CION saw positive net income continuing operations climbing to $6.69M in Q4 2024 from negative results in early 2024 and prior quarters, indicating recovery and improved profitability.
- Steady Equity Base: Total common equity remains strong and relatively stable around $830M to $860M during 2023 and 2024, reflecting stable capital structure supporting operations.
- Dividends Maintained: The company consistently paid quarterly dividends, around $0.31 to $0.41 per share in recent quarters, signaling confidence in cash flow generation and shareholder returns.
- Diverse Revenue Sources: Non-interest income fluctuated but included investment banking income and capital gains that contribute to revenue diversification.
- Volatile Non-Interest Income and Capital Gains: Non-interest income and realized/unrealized capital gains swung widely, affecting total revenue and net income volatility.
- Cash Flows From Operations Fluctuated: Operating cash flows vary, with negative flows reported in some quarters (e.g., Q4 2024 at -$43.4M) and positive in others (Q1 2024 at +$96.4M), reflecting investment and operational cycle dynamics.
- Changes in Long-Term Debt: Long-term debt ranged around $1.0B to $1.06B in 2023-2024, with active issuance and repayments balancing out, indicating active capital management but no clear trend of rising or falling debt.
- Cash Position Variability: Cash and equivalents varied significantly quarter to quarter, from as low as $9.8M (Q2 2024) to around $48M (Q1 2024), showing management's adjustment of liquidity based on financing and investing needs.
- Q4 2024 Non-Interest Income Loss: In Q4 2024, total non-interest income showed a negative $109.9M, heavily impacting total revenue which was only $107.9M leading to very slim pre-tax income.
- High Operating Expenses: Other operating expenses remain high (e.g., $85.5M in Q4 2024, representing significant cost pressure) limiting net profitability in challenging quarters.
- Negative Net Income in Early 2024 & 2023 Periods: Several quarters like Q3 2024 and Q1 2023 saw negative net income attributable to common shareholders, reflecting business challenges or market volatility impacts.
- Significant Non-Cash Adjustments: Large negative non-cash adjustments to reconcile net income (e.g., -$76.9M in Q4 2024) and wide fluctuations in depreciation/amortization negatively affect free cash flow predictability.
Summary: CION Investment Corp has demonstrated volatility in earnings primarily driven by swings in non-interest income, especially capital gains/losses. Interest income remains a solid foundation, with a stable equity base and consistent dividends supporting investor confidence. However, high operating expenses and fluctuating cash flows from operations suggest cautious monitoring is warranted. The company’s active debt management and liquidity fluctuations indicate strategic adjustments to market conditions. Overall, positive recent quarters signal potential recovery, but variability in income components and costs suggest investors should remain attentive to quarterly results and capital allocation strategies.
08/09/25 01:24 AMAI Generated. May Contain Errors.