Estados financieros detallados de CION Investment Corporation (CION): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
CION Investment Corporation registró ingresos de $201.3M en el último ejercicio fiscal, con un CAGR de 5 años del 42.2%.
Márgenes de los últimos 12 meses: margen bruto 52.3%, margen operativo 44.6%, margen neto 9.4%. El flujo de caja libre creció a un CAGR del -17.3% en 5 años.
Al precio actual de $7.11, CION cotiza a un P/E de 26.30 y un ROE del 1.84%. La capitalización bursátil es de $354M.
Cuenta de Resultados (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $132.5M | $118.2M | $86.1M | $109.1M | $34.6M | $163.8M | $110.8M | $192.2M | $142.8M | $201.3M |
| Coste de Ventas | $3.6M | $23.1M | $45.6M | $49.5M | $36.8M | $31.8M | $49.6M | $85.6M | $96.9M | $51.5M |
| Beneficio Bruto | $128.9M | $95.2M | $40.5M | $59.6M | -$2.2M | $132.0M | $61.1M | $106.6M | $45.9M | $149.8M |
| I+D | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Generales y Administrativos | $7.9M | $8.0M | $7.8M | $6.4M | $7.4M | $11.6M | $9.5M | $10.4M | $11.5M | $6.3M |
| Gastos Operativos | $9.2M | $9.3M | $9.2M | $7.7M | $8.6M | $12.9M | $10.6M | $11.4M | $11.9M | $79.9M |
| Beneficio Operativo | $119.7M | $85.9M | $31.3M | $51.9M | -$10.8M | $119.1M | $50.5M | $95.3M | $34.0M | $69.8M |
| EBITDA | $119.7M | $85.9M | $84.6M | $62.4M | $9.1M | $119.1M | $55.8M | $95.3M | $67.7M | $69.8M |
| Gastos por Intereses | $3.6M | $23.1M | $45.6M | $49.5M | $36.8M | $31.8M | $49.6M | $85.6M | $96.9M | $90.5M |
| Beneficio Antes de Impuestos | $119.7M | $85.9M | $31.3M | $51.9M | -$10.8M | $119.1M | $50.5M | $95.3M | $34.0M | -$20.7M |
| Impuestos | 0 | 0 | 0 | $12000 | $268000 | $342000 | $372000 | -$54000 | $107000 | -$85000 |
| Beneficio Neto | $119.7M | $85.9M | $31.3M | $51.8M | -$11.0M | $118.8M | $50.1M | $95.3M | $33.9M | -$20.6M |
| BPA | $2.26 | $1.54 | $0.55 | $0.92 | $-0.19 | $2.09 | $0.89 | $1.74 | $0.63 | $-0.39 |
| BPA Diluido | $2.26 | $1.54 | $0.55 | $0.92 | $-0.19 | $2.09 | $0.89 | $1.74 | $0.63 | $-0.39 |
| Acciones en Circulación (Diluidas) | $53.0M | $56.1M | $57.1M | $56.9M | $56.8M | $56.8M | $56.6M | $54.7M | $53.6M | $52.3M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $61.3M | -$15.9M | $49.8M | $42.1M |
| Beneficio Bruto | $38.7M | -$38.2M | $39.4M | $31.8M |
| Beneficio Operativo | $35.8M | -$41.1M | $1.5M | $65.1M |
| EBITDA | $37.7M | -$41.1M | $1.5M | $65.1M |
| Beneficio Neto | $35.9M | -$41.1M | -$23.0M | $41.2M |
| BPA | $0.69 | $-0.80 | $-0.45 | $0.83 |
| BPA Diluido | $0.69 | $-0.80 | $-0.45 | $0.83 |
Balance (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $15.0M | $56.4M | $17.6M | $6.1M | $19.9M | $3.8M | $82.7M | $8.4M | $7.7M | $8.2M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $116.0M |
| Cuentas por Cobrar | $154.2M | $42.0M | $23.4M | $38.2M | $23.7M | $24.4M | $28.8M | $37.7M | $48.1M | $67000 |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $169.5M | $101.7M | $41.2M | $45.3M | $45.4M | $28.6M | $112.4M | $47.5M | $57.0M | $155.8M |
| Inmovilizado Material | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Fondo de Comercio | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Intangibles | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Totales | $1.26B | $1.82B | $1.91B | $1.81B | $1.61B | $1.78B | $1.87B | $2.00B | $1.95B | $1.85B |
| Cuentas por Pagar | $18.2M | $40.2M | $21.8M | $5.5M | $3.3M | $17.6M | $23.8M | $26.8M | $13.0M | $9.1M |
| Deuda a Corto | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | $27000 |
| Pasivos Corrientes | $18.2M | $40.2M | $21.8M | $5.5M | $3.3M | $17.6M | $23.8M | $26.8M | $13.0M | $27000 |
| Deuda a Largo | $221.2M | $705.4M | $892.6M | $836.6M | $720.0M | $822.4M | $951.3M | $1.08B | $1.10B | $1.13B |
| Pasivos Totales | $261.3M | $757.2M | $927.2M | $857.8M | $736.5M | $852.2M | $988.8M | $1.12B | $1.12B | $1.15B |
| Reservas | $1.4M | -$17.6M | -$69.5M | -$102.5M | -$176.8M | -$129.5M | -$161.0M | -$153.5M | -$200.9M | -$296.9M |
| Patrimonio Neto | $999.8M | $1.06B | $979.3M | $952.6M | $878.3M | $930.5M | $883.6M | $879.6M | $820.8M | $707.6M |
| Deuda Total | $221.2M | $705.4M | $892.6M | $836.6M | $720.0M | $822.4M | $951.3M | $1.08B | $1.10B | $1.13B |
| Deuda Neta | $206.2M | $649.1M | $875.0M | $830.5M | $700.0M | $818.6M | $868.6M | $1.07B | $1.09B | $1.00B |
| Capital Circulante | $151.4M | $61.5M | $19.4M | $39.8M | $42.1M | $11.1M | $88.6M | $20.7M | $44.1M | $155.8M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $3.9M | $8.2M | $9.2M | $7.7M |
| Activos Totales | $1.88B | $1.85B | $1.84B | $1.85B |
| Pasivos Totales | $1.11B | $1.15B | $1.18B | $1.18B |
| Patrimonio Neto | $772.5M | $707.6M | $659.6M | $667.8M |
| Deuda Total | $1.08B | $1.13B | $1.16B | $1.16B |
Flujo de Caja (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | $119.7M | $85.9M | $31.3M | $51.8M | -$11.0M | $118.8M | $50.1M | $95.3M | $33.9M | -$20.6M |
| Amortizaciones | -$21.6M | -$9.4M | $53.2M | $10.6M | $19.9M | -$43.6M | $5.3M | 0 | $33.6M | $7.5M |
| Compensación en Acciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cambio en Capital Circulante | $93.2M | $138.7M | $2.1M | -$28.8M | $10.1M | $13.5M | -$9.9M | -$8.5M | -$19.0M | -$50.9M |
| Flujo de Caja Operativo | -$226.0M | -$413.6M | -$114.6M | $126.0M | $198.7M | -$49.2M | $35.3M | $55.4M | $88.2M | $76.8M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Adquisiciones | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Recompra de Acciones | -$17.8M | -$40.4M | -$97.0M | -$35.8M | -$23.3M | -$10.5M | -$15.4M | -$11.5M | -$11.3M | -$17.2M |
| Dividendos Pagados | -$38.4M | -$42.4M | -$44.8M | -$49.0M | -$40.0M | -$56.0M | -$66.6M | -$92.0M | -$89.5M | -$78.0M |
| Flujo de Caja Libre | -$226.0M | -$413.6M | -$114.6M | $126.0M | $198.7M | -$49.2M | $35.3M | $55.4M | $88.2M | $76.8M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | $44.4M | -$17.1M | $4.7M | -$10.6M |
| Inversiones (CapEx) | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | $44.4M | -$17.1M | $4.7M | -$10.6M |
| Dividendos Pagados | -$18.7M | -$18.6M | -$15.2M | -$14.8M |
| Compensación en Acciones | 0 | 0 | 0 | 0 |
Crecimiento y Márgenes (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -10.7% | -27.2% | +26.7% | -68.3% | +372.9% | -32.4% | +73.5% | -25.7% | +40.9% |
| Crecimiento Beneficio Neto (anual) | | -28.2% | -63.6% | +65.6% | -121.3% | +1177.5% | -57.8% | +90.1% | -64.4% | -160.9% |
| Crecimiento BPA (anual) | | -31.9% | -64.3% | +67.3% | -120.7% | +1200.0% | -57.4% | +95.5% | -63.8% | -161.9% |
| Cambio en Acciones (anual) | | +6.0% | +1.7% | -0.4% | -0.1% | -0.0% | -0.4% | -3.3% | -2.0% | -2.3% |
| Crecimiento FCF (anual) | | -83.1% | +72.3% | +210.0% | +57.7% | -124.8% | +171.6% | +57.0% | +59.3% | -12.9% |
| Margen Bruto | 97.3% | 80.5% | 47.0% | 54.6% | -6.4% | 80.6% | 55.2% | 55.5% | 32.2% | 74.4% |
| Margen Operativo | 90.3% | 72.6% | 36.4% | 47.5% | -31.1% | 72.7% | 45.6% | 49.6% | 23.8% | 34.7% |
| Margen EBITDA | 90.3% | 72.6% | 98.2% | 57.2% | 26.3% | 72.7% | 50.4% | 49.6% | 47.4% | 34.7% |
| Margen Neto | 90.3% | 72.6% | 36.4% | 47.5% | -31.8% | 72.5% | 45.3% | 49.6% | 23.7% | -10.3% |
| Margen FCF | -170.6% | -349.8% | -133.1% | 115.5% | 573.8% | -30.1% | 31.8% | 28.8% | 61.8% | 38.2% |
| Tasa Impositiva Efectiva | 0.0% | 0.0% | 0.0% | 0.0% | -2.5% | 0.3% | 0.7% | -0.1% | 0.3% | 0.4% |
Datos por Acción (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-4.27 | $-7.37 | $-2.01 | $2.22 | $3.50 | $-0.87 | $0.62 | $1.01 | $1.65 | $1.47 |
| Dividendo por Acción | $0.73 | $0.76 | $0.78 | $0.86 | $0.70 | $0.99 | $1.18 | $1.68 | $1.67 | $1.49 |
| Acciones en Circulación (Básicas) | $53.0M | $56.1M | $57.1M | $56.9M | $56.8M | $56.8M | $56.6M | $54.7M | $53.6M | $52.3M |
Qué mirar en Servicios Financieros
Asset managers, brokers, fintech, bolsas. No son bancos — mira AUM, comisiones y calidad del FCF.
- Crecimiento ingresos 5y — Sin crecimiento, no hay creación de valor a largo plazo
- Margen operativo — Los buenos asset managers tienen márgenes >30% por escalabilidad
- ROE — Servicios financieros de calidad tienen ROE >15% consistente
- FCF / Net Income — Calidad del beneficio — >90% esperado en negocios ligeros en capital
- Debt / Equity — Fintech y brokers con D/E alto son bombas de relojería en crisis
- P/E vs 5y propio — Asset managers tienen múltiplos estables en rangos conocidos
- Dividend yield + buybacks — Estos negocios devuelven mucho capital — mirar yield total (div + recompras)
Rentabilidad
| Rentabilidad sobre capital | 1.84% |
| Rentabilidad sobre capital invertido | 3.35% |
| Rentabilidad sobre activos | 0.70% |
| Margen bruto | 52.28% |
| Margen operativo | 44.60% |
| Margen neto | 9.44% |
Salud financiera
| Deuda / Patrimonio | 1.74 |
| Ratio corriente | 10.48 |
| Piotroski F-Score | 6 |
| Altman Z-Score | 0.37 |
Ratios Clave (10 años)
| Año | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | 5.24 | 7.69 | 21.55 | 12.88 | -62.37 | 6.25 | 10.96 | 6.50 | 18.10 | -24.79 |
| P/VC | 0.63 | 0.63 | 0.69 | 0.71 | 0.77 | 0.80 | 0.62 | 0.70 | 0.74 | 0.72 |
| P/V | 4.74 | 5.62 | 7.86 | 6.18 | 19.44 | 4.53 | 4.98 | 3.22 | 4.28 | 2.51 |
| Margen Bruto | 97.3% | 80.5% | 47.0% | 54.6% | -6.4% | 80.6% | 55.2% | 55.5% | 32.2% | 74.4% |
| Margen Operativo | 90.3% | 72.6% | 36.4% | 47.5% | -31.1% | 72.7% | 45.6% | 49.6% | 23.8% | 34.7% |
| Margen Neto | 90.3% | 72.6% | 36.4% | 47.5% | -31.8% | 72.5% | 45.3% | 49.6% | 23.7% | -10.3% |