CION Investment Corporation (CION) — Dividend Yield, NAV & Valuation Analysis
CION · NYSE
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Overview
CION Investment Corporation is an externally managed BDC advised by CION Investment Management, primarily investing in senior secured loans, unitranche loans, and mezzanine debt of U.S. middle-market companies. CION targets borrowers with EBITDA between $5 million and $50 million and constructs a first lien weighted portfolio designed for income generation. The BDC completed its listing via a continuous offering and exchange structure.
Key Metrics
| Metric | Value |
|---|---|
| 1-Year Total Return | 4.1% |
| 3-Year Total Return | 15.8% |
| 5-Year Total Return | 21.4% |
| Expense Ratio | 10.2% |
| Leverage Ratio | 1.22x |
| Portfolio Companies | 105 |
| Total Assets | $0.8B |
Discount / Premium to NAV
| Stock Price | $7.34 |
| NAV per Share | $14.8 |
| Premium / (Discount) to NAV | -50.4% |
| Implied per-share NAV gap | $7.46 |
The premium / discount to NAV compares the current stock price to the per-share net asset value of CION Investment Corporation's investment portfolio. A negative reading (a discount) means the market is pricing CION below the value of its underlying assets and is one of the most-watched valuation metrics for any BDC. A positive reading (a premium) means the market is paying a premium over the stated NAV, often reflecting confidence in future dividend coverage and portfolio credit quality. CION Investment Corporation currently trades at a -50.4% discount to NAV.
Investment Strategy
CION Investment Corporation focuses on senior secured loans, mezzanine debt, unitranche debt in the technology, healthcare, business services, consumer products sectors. The company targets lower middle-market companies and maintains a portfolio of 105 investments totaling $0.8B in assets.
Management
CEO: Michael A. Reisner | Employees: 35
Suitability
CION is suitable for income-focused investors seeking quarterly dividend income with a 15.8% yield. The BDC's focus on senior secured loans provides portfolio characteristics. Investors should consider their risk tolerance and investment objectives before investing.