For the twelve months ended Sep 30, 2026, CION Investment Corporation reported $201.43M of revenue and -$36.72M of net income.
CION revenue was $48.30M in fiscal Q3 2026 (ended Sep 30, 2026), down 38.6% from a year earlier and down 3.0% from the prior quarter. For the full fiscal 2025 it was $240.82M, down 4.6% from fiscal 2024. Compound annual growth was +8.0% over 5 years. It rose in 3 of the last 5 fiscal years.
CION net income was -$3.55M in fiscal Q3 2026 (ended Sep 30, 2026), compared with $35.88M a year earlier. For the full fiscal 2025 it was -$20.63M, compared with $33.90M in fiscal 2024.
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue | $240.82M | $252.43M | $251.01M | $194.90M | $157.35M | $163.84M |
| Selling, general and admin | $6.33M | $7.16M | $7.38M | $7.28M | $9.80M | $6.08M |
| Interest expense | - | - | $85.56M | $49.62M | $31.81M | $36.84M |
| Net income | -$20.63M | $33.90M | $95.31M | $50.14M | $118.76M | -$11.02M |
| Diluted shares | 52.3M | 53.6M | 54.7M | 56.56B | 56.81B | 56.82B |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Cash and equivalents | $8.16M | $7.67M | $8.41M | $82.74M | $3.77M | $19.91M |
| Short-term investments | - | $113.45M | $113.45M | - | - | - |
| Total assets | $1.85B | $1.95B | $2.00B | $1.87B | $1.78B | - |
| Total debt | $1.13B | $1.10B | $1.08B | $951.32M | $822.37M | - |
| Total liabilities | $1.15B | $1.12B | $1.12B | $988.78M | $852.17M | - |
| Shareholders' equity | $707.63M | $820.81M | $879.56M | $883.63M | $930.51M | $878.26M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Operating cash flow | $76.83M | $88.19M | -$97.15M | $35.28M | -$49.25M | $198.73M |
| Financing cash flow | -$76.34M | -$88.94M | $22.83M | $43.69M | $33.11M | -$184.95M |
| Dividends paid | $78.02M | $89.48M | $91.96M | $66.64M | $56.04M | $39.98M |
| Share repurchases | $17.19M | $11.35M | $11.52M | $15.44M | $10.47M | $23.30M |
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 |
|---|---|---|---|---|---|---|
| Revenue growth, YoY | -4.6% | 0.6% | 28.8% | 23.9% | -4.0% | - |
| Net income growth, YoY | - | -64.4% | 90.1% | -57.8% | - | - |
| Net margin | -8.6% | 13.4% | 38.0% | 25.7% | 75.5% | -6.7% |
| Return on equity | -2.9% | 4.1% | 10.8% | 5.7% | 12.8% | -1.3% |
| Return on assets | -1.1% | 1.7% | 4.8% | 2.7% | 6.7% | - |
| Debt to equity | 1.59 | 1.34 | 1.23 | 1.08 | 0.88 | - |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $48.30M | $49.79M | $49.54M | $53.79M | $78.71M | $52.24M | $56.07M | $57.89M | $59.63M | $61.36M | $73.55M | $60.00M |
| Selling, general and admin | $2.82M | $1.54M | $1.96M | $1.46M | $1.65M | $1.39M | $1.84M | $1.86M | $1.85M | $1.66M | $1.78M | $1.42M |
| Interest expense | - | - | - | - | - | - | - | - | - | $23.77M | $24.30M | $24.02M |
| Net income | -$3.55M | $30.98M | -$23.03M | -$41.12M | $35.88M | $27.32M | -$42.70M | $5.46M | -$379.0K | $22.38M | $6.45M | $50.99M |
| EPS, basic | - | - | - | -$0.80 | $0.69 | $0.52 | -$0.80 | $0.10 | -$0.01 | $0.42 | $0.12 | $0.94 |
| Diluted shares | 49.2M | 49.7M | 50.8M | 51.6M | 52.1M | 52.6M | 53.1M | 53.3M | 53.4M | 53.6M | 54.0M | 54.3M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $20.56M | $7.66M | $9.25M | $8.16M | $3.93M | $6.53M | $7.72M | $7.67M | $29.77M | $9.80M | $48.48M | $8.41M |
| Short-term investments | - | - | - | - | - | - | - | $113.45M | $53.50M | $83.16M | - | $113.45M |
| Total assets | $1.55B | $1.85B | $1.84B | $1.85B | $1.88B | $1.88B | $1.90B | $1.95B | $1.92B | $1.96B | $1.97B | $2.00B |
| Total debt | $884.28M | $1.16B | $1.16B | $1.13B | $1.08B | $1.10B | $1.10B | $1.10B | $1.05B | $1.06B | $1.06B | $1.08B |
| Total liabilities | $905.28M | $1.18B | $1.18B | $1.15B | $1.11B | $1.12B | $1.14B | $1.12B | $1.08B | $1.10B | $1.11B | $1.12B |
| Shareholders' equity | $649.47M | $667.78M | $659.64M | $707.63M | $772.51M | $758.61M | $756.78M | $820.81M | $839.19M | $860.81M | $863.06M | $879.56M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $306.79M | $21.59M | -$4.55M | -$17.09M | $44.38M | $43.45M | $6.09M | -$43.43M | $52.00M | -$16.73M | $96.35M | -$54.60M |
| Financing cash flow | -$293.89M | -$23.18M | $5.64M | $21.32M | -$46.98M | -$44.64M | -$6.04M | $21.33M | -$32.03M | -$21.95M | -$56.29M | $56.21M |
| Dividends paid | $14.76M | $14.84M | $15.24M | $18.55M | $18.73M | $38.08M | $2.66M | $19.17M | $21.91M | $19.28M | $29.12M | $21.18M |
| Share repurchases | $0 | $8.00M | $9.72M | $5.21M | $3.26M | $6.56M | $2.17M | $2.00M | $2.00M | $2.67M | $4.67M | $2.90M |
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -38.6% | -4.7% | -11.7% | -7.1% | 32.0% | -14.9% | -23.8% | -3.5% | -11.7% | 4.9% | 13.2% | 8.1% |
| Net income growth, YoY | - | 13.4% | - | - | - | 22.1% | - | -89.3% | - | -19.8% | - | 434.8% |
| Net margin | -7.3% | 62.2% | -46.5% | -76.4% | 45.6% | 52.3% | -76.2% | 9.4% | -0.6% | 36.5% | 8.8% | 85.0% |
| Debt to equity | 1.36 | 1.74 | 1.76 | 1.59 | 1.40 | 1.45 | 1.45 | 1.34 | 1.26 | 1.23 | 1.23 | 1.23 |
Source: XBRL data CION Investment Corporation files with the SEC, latest filing dated Nov 5, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
| Company | Revenue | Growth | Net income | Net margin | Market cap |
|---|---|---|---|---|---|
| CION | $201.43M | -17.8% | -$36.72M | -18.2% | $309.3M |
| MAIN | $577.75M | +2.9% | $444.75M | 77.0% | $5.33B |
| HASI | $474.29M | +22.6% | $149.37M | 31.5% | $5.00B |