Forensic Analysis · General / Diversified · as of Jun 28, 2026
CION Investment Corp (CION)
A forensic read on CION Investment Corp built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.
D · Weak — demands caution
Forensic grade
Clean
Earnings quality
3
Forensic signals
-0.2%
ROE
$305M
Market cap
6.66%
Dividend yield
CION Investment Corp earns a D (Weak — demands caution) forensic quality grade. 3 forensic signals were flagged in its latest SEC filings, led by cash conversion.
What the filings flag
0.63×Cash conversion. Over FY2023–FY2025, operating cash flow was 0.63× cumulative net income. Reported profit is not turning into cash — a classic earnings-quality warning.
124% of FCFShareholder returns. Returned $95M to shareholders (buybacks + dividends) in FY2025 — 124% of free cash flow. More than free cash flow generated — and beyond operating cash too, so the extra is coming from debt or cash reserves, which isn't sustainable indefinitely.
-13%Dividend — cut. The payout was CUT ~13% in FY2025 (from FY2024). It still returns some cash, but it is NOT the dependable, rising dividend an unbroken streak implies — weigh the cut when judging reliability.
Key fundamentals
Debt / Equity1.59x
Return on Equity-2.9%
Go deeper — free with an account
The forensic grade and screens above are free — no account needed. An account adds the full interactive deep-dive on CION Investment Corp:
🔒The written investment read — what the numbers mean, in plain English
🔒Ask anything about CION's filings — AI Q&A across the 10-K, 10-Qs & 8-Ks
🔒Interactive valuation — reverse-DCF sliders, Monte Carlo & scenario stress
🔒Calibrated 12-month price forecast, with the math shown
🔒Peer comparison + filing-change monitoring & alerts
No credit card · informational only, not investment advice · see the track record
← Browse all forensic stock analyses
Data from SEC EDGAR public filings · metrics as of Jun 28, 2026. Forensic signals flag probability, not certainty.