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Cion Investment Corp (CION)



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Upturn Advisory Summary
08/28/2025: CION (1-star) has a low Upturn Star Rating. Not recommended to BUY.
1 Year Target Price $10.67
1 Year Target Price $10.67
1 | Strong Buy |
0 | Buy |
1 | Hold |
0 | Sell |
1 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit 21.27% | Avg. Invested days 48 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating ![]() ![]() | Upturn Advisory Performance ![]() | Stock Returns Performance ![]() |
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Key Highlights
Company Size Small-Cap Stock | Market Capitalization 558.37M USD | Price to earnings Ratio - | 1Y Target Price 10.67 |
Price to earnings Ratio - | 1Y Target Price 10.67 | ||
Volume (30-day avg) 3 | Beta 1.08 | 52 Weeks Range 8.19 - 11.83 | Updated Date 08/29/2025 |
52 Weeks Range 8.19 - 11.83 | Updated Date 08/29/2025 | ||
Dividends yield (FY) 13.37% | Basic EPS (TTM) -0.2 |
Earnings Date
Report Date 2025-08-07 | When - | Estimate 0.3333 | Actual 0.32 |
Profitability
Profit Margin -4.57% | Operating Margin (TTM) 75.74% |
Management Effectiveness
Return on Assets (TTM) 5.57% | Return on Equity (TTM) -1.27% |
Valuation
Trailing PE - | Forward PE 25.51 | Enterprise Value 1653477504 | Price to Sales(TTM) 2.47 |
Enterprise Value 1653477504 | Price to Sales(TTM) 2.47 | ||
Enterprise Value to Revenue 999.4 | Enterprise Value to EBITDA - | Shares Outstanding 52086800 | Shares Floating - |
Shares Outstanding 52086800 | Shares Floating - | ||
Percent Insiders 0.58 | Percent Institutions 38.39 |
Upturn AI SWOT
Cion Investment Corp

Company Overview
History and Background
Cion Investment Corporation is a publicly traded business development company (BDC) founded to provide investors with current income and, to a lesser extent, long-term capital appreciation. It primarily invests in senior secured debt, including first-lien and second-lien loans, and, to a lesser extent, subordinated debt, including unsecured debt, and equity investments.
Core Business Areas
- Direct Lending: Focuses on originating and investing in primarily senior secured debt of private middle-market companies.
- Secondary Market Purchases: Investing in loans purchased in the secondary market.
- Equity Investments: Makes strategic equity investments in portfolio companies, offering potential upside.
Leadership and Structure
Cion Investment Corporation is externally managed by Cion Investment Management, LLC. The leadership team consists of Michael A. Reisner (CEO), Mark Gatto (CFO), and other experienced investment professionals.
Top Products and Market Share
Key Offerings
- Senior Secured Debt: Primarily first-lien and second-lien loans to middle-market companies. Market share data is difficult to pinpoint exactly for this specific segment of BDCs, but the BDC industry itself is fragmented, Cion being a significant player. Competitors include Ares Capital Corporation (ARCC) and Golub Capital BDC (GBDC).
- Subordinated Debt: Includes unsecured debt investments, typically with higher yields. Market share information is not readily available. Competitors include Oaktree Specialty Lending Corporation (OCSL).
- Equity Co-Investments: Minority equity stakes alongside debt investments, potentially increasing overall returns. Market share data is hard to quantify. Competitors are other large BDCs.
Market Dynamics
Industry Overview
The BDC industry is currently experiencing mixed trends. Interest rate hikes have generally benefited net interest margins, but concerns about credit quality are increasing due to potential economic slowdown. The market is competitive, with a diverse range of players.
Positioning
Cion Investment Corp is positioned as a direct lender focusing on middle-market companies, offering a diversified portfolio of primarily senior secured loans. Its competitive advantage is based on its experienced management team and disciplined underwriting process.
Total Addressable Market (TAM)
The TAM for middle-market lending is substantial, estimated in the hundreds of billions of dollars. Cion's positioning allows it to capture a segment of this large market, with room for growth.
Upturn SWOT Analysis
Strengths
- Experienced management team
- Diversified investment portfolio
- Focus on senior secured debt
- Disciplined underwriting process
Weaknesses
- External management structure
- Sensitivity to interest rate changes
- Exposure to credit risk in middle-market companies
- Potential for conflicts of interest with the external manager
Opportunities
- Growing demand for private credit
- Expansion into new industry sectors
- Strategic acquisitions of other BDCs
- Increasing deployment of capital
Threats
- Economic recession
- Increased competition from other lenders
- Rising interest rates
- Regulatory changes
Competitors and Market Share
Key Competitors
- ARCC
- GBDC
- OCSL
- TPVG
- MAIN
Competitive Landscape
Cion faces competition from larger, more established BDCs, as well as smaller, niche players. Its success depends on its ability to generate attractive risk-adjusted returns through effective origination and underwriting.
Growth Trajectory and Initiatives
Historical Growth: Historical growth is dependent on capital deployment and portfolio performance, requiring analysis of past financial statements.
Future Projections: Future growth projections require analyst estimates and depend on macroeconomic conditions and company-specific factors.
Recent Initiatives: Recent initiatives will depend on company announcements and strategic decisions. Requires following company news and releases.
Summary
Cion Investment Corp is a BDC focused on providing debt financing to middle-market companies. It benefits from an experienced management team but faces challenges related to its external management structure and the inherent risks of lending to smaller businesses. Its success is tied to economic conditions and its ability to effectively deploy capital and manage credit risk. While the company is growing, it needs to stay competitive as its key competitors expand, maintain a strong financial foot hold, and keep ahead of macro economic trends that could affect it and its clients.
Peer Comparison
Sources and Disclaimers
Data Sources:
- SEC filings (10-K, 10-Q)
- Company website
- Industry reports
- Analyst reports
Disclaimers:
This analysis is for informational purposes only and should not be considered financial advice. Market conditions and company-specific factors can change rapidly, so it is important to conduct your own research before making any investment decisions. Market share data is estimated based on available information and may not be precise.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About Cion Investment Corp
Exchange NYSE | Headquaters New York, NY, United States | ||
IPO Launch date 2021-10-05 | Co-Founder, Co-Chairman & Co-CEO Mr. Michael A. Reisner Esq., J.D. | ||
Sector Financial Services | Industry Asset Management | Full time employees - | Website https://www.cionbdc.com |
Full time employees - | Website https://www.cionbdc.com |
CION Investment Corporation is a business development company. It specializes in investments in senior secured loans, including unitranche loans, First Lien, second lien loans, long-term subordinated loans, and mezzanine loans; equity interests such as warrants or options; and corporate bonds; and other debt securities in middle-market companies. The firm invests in growth capital, acquisitions, leveraged buyouts, market/product expansion, refinancing and recapitalization investments. The fund also invests up to 30 percent of their assets opportunistically in other types of investments, including the securities of larger public companies and foreign securities. It also makes investments in the secondary loan market. The fund does not invest in start-up companies, turnaround situations, or companies with speculative business plans. The fund prefers to invest in high tech industries, healthcare, pharmaceuticals, business services, media, chemicals, plastic, rubber, telecommunication, consumer services, advertising, printing and publishing, consumer goods, durables, diversified financials, and other industries. It also invests in homebuilding, restaurants, beverage and tobacco bars, broadcasting, distributors, Non-durable good distribution, food beverage and tobacco, energy, oil gas and consumables fuels, insurance, aerospace and defense, industrial machinery, paper and forest product machinery, information technology, metals and mining, and real estate. It primarily seeks to invest in the United States. The fund seeks to invest between $5 million and $50 million in companies with an EBITDA between $25 million and $75 million with average targeted hold of $30 million. It also purchases minority interests in the form of common or preferred equity in the target companies, typically in conjunction with its debt investments or through a co-investment with a financial sponsor. The fund seeks to exit its investments through an initial public offering of common stock, a merger, a sale, or other recapitalization.

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