Cion Investment Financials

CICB

Source SEC Filings (10-K/10-Q) Updated Mar 31, 2026 Currency USD FYE December

This page shows Cion Investment (CICB) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 6 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI CICB FY2026 2026-06-11

Portfolio cash generation rather than reported earnings appears to support this leveraged investment balance sheet and continued shareholder payouts.

Recent results show operating cash flow staying positive at $88.2M and $76.8M even as net income moved from profit to loss, so accounting results and portfolio cash realization are not moving together. That gap matters because cash on hand is thin; cash was only $8.2M against $1.13B of long-term debt, leaving liquidity dependent on ongoing inflows rather than a large cash reserve.

Recent periods also show leverage rising from 1.2x to 1.6x. At the same time, equity fell from $879.6M to $707.6M, so the company is carrying more borrowing against a smaller capital base.

The main pressure point is funding cost, not overhead; interest expense was $90.5M while SG&A was just $6.3M. Shareholder payouts stayed substantial, with dividends paid of $78.0M nearly matching operating cash flow of $76.8M, which leaves little internally generated room to rebuild equity.

Financial Health Signals

Financial Profile 14/100

Based on FY2026 annual data, averaged across the last 3 years for performance metrics (most-recent year weighted highest). How this score is calculated →

Health score ≠ stock price. This rates the quality of Cion Investment's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Leverage

Cion Investment carries a low D/E ratio of 1.59, meaning only $1.59 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 70/100, indicating a strong balance sheet with room for future borrowing.

Returns

Cion Investment generates a -2.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 15/100. This is down from 4.1% the prior year.

Piotroski F-Score Weak

3/9

Cion Investment passes 3 of 9 financial strength tests. 2 of 4 profitability signals pass, 1 of 2 leverage/liquidity signals pass.

Earnings Quality Mixed

-3.72x

For every $1 of reported earnings, Cion Investment generates $-3.72 in operating cash flow ($76.8M OCF vs -$20.6M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue

N/A

EBITDA

N/A

Net Income

-$20.6M

YoY-160.9%

Cion Investment reported -$20.6M in net income in fiscal year 2026. This represents a decrease of 160.9% from the prior year.

EPS (Diluted)

N/A

Cash & Balance Sheet

Free Cash Flow

N/A

Cash & Debt

$8.2M

YoY+6.4%

5Y CAGR-16.3%

Cion Investment held $8.2M in cash against $1.1B in long-term debt as of fiscal year 2026.

Dividends Per Share

$1.44

YoY-5.3%

5Y CAGR+5.3%

Cion Investment paid $1.44 per share in dividends in fiscal year 2026. This represents a decrease of 5.3% from the prior year.

Shares Outstanding

51M

YoY-3.3%

5Y CAGR-1.9%

Cion Investment had 51M shares outstanding in fiscal year 2026. This represents a decrease of 3.3% from the prior year.

Margins & Returns

Gross Margin

N/A

Operating Margin

N/A

Net Margin

N/A

Return on Equity

-2.9%

YoY-7.1pp

5Y CAGR-1.7pp

Cion Investment's ROE was -2.9% in fiscal year 2026, measuring profit generated per dollar of shareholder equity. This is down 7.1 percentage points from the prior year.

Capital Allocation

R&D Spending

N/A

Share Buybacks

$17.2M

YoY+51.5%

5Y CAGR-5.9%

Cion Investment spent $17.2M on share buybacks in fiscal year 2026, returning capital to shareholders by reducing shares outstanding. This represents an increase of 51.5% from the prior year.

Capital Expenditures

N/A

CICB Income Statement

Metric	FY26	FY24	FY23	FY22	FY21	FY20
Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$6.3M-11.5%	$7.2M-3.0%	$7.4M+1.4%	$7.3M-25.8%	$9.8M+61.1%	$6.1M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$90.5M-6.5%	$96.9M+13.2%	$85.6M+72.4%	$49.6M+56.0%	$31.8M-13.7%	$36.8M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$20.6M-160.9%	$33.9M-64.4%	$95.3M+90.1%	$50.1M-57.8%	$118.8M+1177.5%	-$11.0M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.0M	N/A	$1.6M+18.4%	$1.4M-24.1%	$1.8M	N/A	$1.9M+11.8%	$1.7M
Operating Income	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Interest Expense	$24.4M	N/A	$22.7M+0.1%	$22.6M-1.6%	$23.0M	N/A	$23.6M-0.9%	$23.8M
Income Tax	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Income	-$23.0M+44.0%	-$41.1M-214.6%	$35.9M+31.3%	$27.3M+164.0%	-$42.7M-882.4%	$5.5M+1540.1%	-$379K-101.7%	$22.4M
EPS (Diluted)	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

CICB Balance Sheet

Metric	FY26	FY24	FY23	FY22	FY21	FY20
Total Assets	$1.9B-4.7%	$1.9B-2.8%	$2.0B+6.9%	$1.9B+5.0%	$1.8B	N/A
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$8.2M+6.4%	$7.7M-8.9%	$8.4M-89.8%	$82.7M+2092.3%	$3.8M-81.0%	$19.9M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.1B+2.0%	$1.1B+0.2%	$1.1B+13.5%	$988.8M+16.0%	$852.2M	N/A
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.1B+2.4%	$1.1B+1.6%	$1.1B+13.7%	$951.3M+15.7%	$822.4M	N/A
Total Equity	$707.6M-13.8%	$820.8M-6.7%	$879.6M-0.5%	$883.6M-5.0%	$930.5M+5.9%	$878.3M
Retained Earnings	-$296.9M-47.8%	-$200.9M-30.9%	-$153.5M+4.6%	-$161.0M-24.3%	-$129.5M	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Total Assets	$1.8B-0.6%	$1.9B-1.5%	$1.9B+0.2%	$1.9B-0.8%	$1.9B-2.5%	$1.9B+1.6%	$1.9B-2.3%	$2.0B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$9.2M+13.3%	$8.2M+107.6%	$3.9M-39.8%	$6.5M-15.4%	$7.7M+0.7%	$7.7M-74.2%	$29.8M+203.8%	$9.8M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.2B+3.2%	$1.1B+3.2%	$1.1B-1.0%	$1.1B-1.5%	$1.1B+1.3%	$1.1B+4.5%	$1.1B-2.1%	$1.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$1.2B+2.9%	$1.1B+4.4%	$1.1B-2.1%	$1.1B+0.2%	$1.1B+0.1%	$1.1B+4.2%	$1.1B-0.6%	$1.1B
Total Equity	$659.6M-6.8%	$707.6M-8.4%	$772.5M+1.8%	$758.6M+0.2%	$756.8M-7.8%	$820.8M-2.2%	$839.2M-2.5%	$860.8M
Retained Earnings	-$335.2M-12.9%	-$296.9M-25.2%	-$237.2M+6.7%	-$254.4M+3.2%	-$262.8M-30.8%	-$200.9M-8.9%	-$184.6M-11.9%	-$164.9M

CICB Cash Flow Statement

Metric	FY26	FY24	FY23	FY22	FY21	FY20
Operating Cash Flow	$76.8M-12.9%	$88.2M+190.8%	-$97.2M-375.4%	$35.3M+171.6%	-$49.2M-124.8%	$198.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	-$76.3M+14.2%	-$88.9M-489.6%	$22.8M-47.7%	$43.7M+32.0%	$33.1M+117.9%	-$185.0M
Dividends Paid	$78.0M-12.8%	$89.5M-2.7%	$92.0M+38.0%	$66.6M+18.9%	$56.0M+40.2%	$40.0M
Share Buybacks	$17.2M+51.5%	$11.3M-1.5%	$11.5M-25.4%	$15.4M+47.5%	$10.5M-55.1%	$23.3M

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Operating Cash Flow	-$4.6M+73.4%	-$17.1M-138.5%	$44.4M+2.1%	$43.5M+612.9%	$6.1M+114.0%	-$43.4M-183.5%	$52.0M+410.8%	-$16.7M
Capital Expenditures	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Free Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Investing Cash Flow	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Financing Cash Flow	$5.6M-73.5%	$21.3M+145.4%	-$47.0M-5.2%	-$44.6M-638.4%	-$6.0M-128.3%	$21.3M+166.6%	-$32.0M-45.9%	-$22.0M
Dividends Paid	$15.2M-17.8%	$18.6M-0.9%	$18.7M-50.8%	$38.1M+1330.1%	$2.7M-86.1%	$19.2M-12.5%	$21.9M+13.6%	$19.3M
Share Buybacks	$9.7M+86.7%	$5.2M+59.9%	$3.3M-50.3%	$6.6M+201.8%	$2.2M+8.4%	$2.0M0.0%	$2.0M-25.0%	$2.7M

CICB Financial Ratios

Metric	FY26	FY24	FY23	FY22	FY21	FY20
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-2.9%-7.1pp	4.1%-6.7pp	10.8%+5.2pp	5.7%-7.1pp	12.8%+14.0pp	-1.3%
Return on Assets	-1.1%-2.8pp	1.7%-3.0pp	4.8%+2.1pp	2.7%-4.0pp	6.7%	N/A
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.59+0.3	1.34+0.1	1.23+0.2	1.08+0.2	0.88	N/A
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Net Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Equity	-3.5%+2.3pp	-5.8%-10.4pp	4.6%+1.0pp	3.6%+9.2pp	-5.6%-6.3pp	0.7%+0.7pp	-0.1%-2.6pp	2.6%
Return on Assets	-1.3%+1.0pp	-2.2%-4.1pp	1.9%+0.4pp	1.5%+3.7pp	-2.3%-2.5pp	0.3%+0.3pp	-0.0%-1.2pp	1.1%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	1.76+0.2	1.59+0.2	1.40-0.1	1.450.0	1.45+0.1	1.34+0.1	1.26+0.0	1.23
FCF Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

Frequently Asked Questions

Is Cion Investment profitable?

No, Cion Investment (CICB) reported a net income of -$20.6M in fiscal year 2026.

How much debt does Cion Investment have?

As of fiscal year 2026, Cion Investment (CICB) had $8.2M in cash and equivalents against $1.1B in long-term debt.

Does Cion Investment pay dividends?

Yes, Cion Investment (CICB) paid $1.44 per share in dividends during fiscal year 2026.

What is Cion Investment's return on equity (ROE)?

Cion Investment (CICB) has a return on equity of -2.9% for fiscal year 2026, measuring how efficiently the company generates profit from shareholder equity.

What is Cion Investment's operating cash flow?

Cion Investment (CICB) generated $76.8M in operating cash flow during fiscal year 2026, representing cash generated from core business activities.

What are Cion Investment's total assets?

Cion Investment (CICB) had $1.9B in total assets as of fiscal year 2026, including both current and long-term assets.

Does Cion Investment buy back shares?

Yes, Cion Investment (CICB) spent $17.2M on share buybacks during fiscal year 2026, returning capital to shareholders by reducing shares outstanding.

How many shares does Cion Investment have outstanding?

Cion Investment (CICB) had 51M shares outstanding as of fiscal year 2026.

What is Cion Investment's debt-to-equity ratio?

Cion Investment (CICB) had a debt-to-equity ratio of 1.59 as of fiscal year 2026, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Cion Investment's return on assets (ROA)?

Cion Investment (CICB) had a return on assets of -1.1% for fiscal year 2026, measuring how efficiently the company uses its assets to generate profit.

What is Cion Investment's Piotroski F-Score?

Cion Investment (CICB) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Cion Investment's earnings high quality?

Cion Investment (CICB) has an earnings quality ratio of -3.72x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

How financially healthy is Cion Investment?

Cion Investment (CICB) scores 14 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.