I-ON Digital Corp. (IONI) intrinsic value & 10-year financials
I-ON Digital Corp. (IONI) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue shrank 15.4% a year to $433.0K, with an average return on invested capital of -65.1%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $0.11
- Market cap
- $3.4M
- Revenue (FY2025)
- $433.0K
- Revenue growth (10-yr CAGR)
- -15.4%
- ROIC (10-yr avg)
- -65.1%
- Free cash flow (FY2025)
- —
IONI 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $433.0K | -$2.9M | -$0.09 | — | -638.7% | -19.2% |
| FY2024 | $32.6K | -$1.9M | -$0.07 | — | -3929.8% | -11.4% |
| FY2023 | $97.9K | -$805.1K | -$0.03 | — | -720.8% | -8.0% |
| FY2022 | $0 | -$27.6K | — | — | — | 0.0% |
| FY2021 | $16.2M | $2.2M | $0.06 | $69.6K | 11.2% | 33.6% |
| FY2020 | $10.5M | $1.6M | $0.05 | $2.6M | 16.2% | 31.8% |
| FY2019 | $8.0M | -$712.4K | -$0.02 | -$62.3K | -3.5% | -4.7% |
| FY2018 | $7.1M | $82.2K | $0.00 | $16.6K | -6.1% | -7.2% |
| FY2017 | $9.2M | -$1.4M | $0.00 | -$1.9M | -15.0% | -539.3% |
| FY2016 | $2.0M | -$1.1M | — | -$1.7M | -47.7% | -126.8% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
I-ON Digital Corp. is facing top-line stagnation, with revenue contracting over the decade.
I-ON Digital Corp. has historically struggled to out-earn its cost of capital, averaging just -11.7% ROIC.
I-ON Digital Corp. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, I-ON Digital Corp. is modeled at -15.4% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-1.16 per share.