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I-On Digital Corp (IONI) fair value: what the stock is really worth

We calculate from audited financials what I-On Digital Corp is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.

Valuation from Jul 25, 2026. With the latest figures (losses, negative cash flow), a fair value can no longer be calculated.
  1. Fair value above price? Yes
  2. Good quality? No
  3. Add to watchlist

Technology · US · ISIN US44988A1016

IO I-On Digital Corp logo Thin data Jul 25, 2026

I-On Digital Corp

IONI · US

Cheap, value-trap riskThe stock looks deeply undervalued, but low quality raises value-trap risk.

✓Fair value $0.2800 · Strongly undervalued (+133%)
!Quality 25/100
!Weak Growth (revenue 5y −47.1 %/yr)
!Low debt · negative free cash flow
!Mixed vs. peers (4/7)
!Narrow moat 29/100
!Evidence only low, so the estimate is less certain
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What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$2.07 $0.0550 Fair Value $0.2800 Jun 2020 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 25, 2026.

How to read this chart

60‑month range $0.0550 – $2.07 · fair‑value band $0.2100 – $0.4200 · the $0.1200 price screens below the $0.2800 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 25, 2026.

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Company profile

I-ON Digital Corp. provides asset-digitization and securitization solutions.

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I-ON Digital Corp. provides asset-digitization and securitization solutions. Its solutions are engineered to provide a secure, fast, transparent, and institutional-grade digital asset ecosystem that digitizes documentary evidence of ownership asset-backed digital certificates, thus bringing liquidity and recognized value to a diverse array of asset classes; hybrid blockchain architecture that utilizes smart contracts and workflow management AI technologies to digitize ownership records of recoverable gold, precious metal, and mineral reserves into digital certificates that facilitate wealth transfer through asset-backed financial instruments. It serves claim holders of gold reserves; and high net worth investors within the banking and financial services sector. The company was formerly known as I-ON Communications Corp. and changed its name to I-ON Digital Corp. In May 2019. I-ON Digital Corp. was founded in 1999 and is headquartered in Chicago, Illinois.

Stock analysis

I-On Digital Corp (IONI) currently trades at $0.1200, while our model-based Fair Value estimate is $0.2800, implying the stock looks roughly 57.1% undervalued today.

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Valuation

How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.

Scenario range: $0.2100 (bear) to $0.4200 (bull), the price of $0.1200 sits below it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 25/100 (below-average quality), in the Technology sector.

Weak Growth: Revenue growth is weak, negative or inconsistent.

I-On Digital Corp reported revenue of $433K in FY2025 versus $16.2M in FY2021, a compound −59.6%/yr. Reported net income was −$2.9M in FY2025.

Key figures

Market cap $5.8M · P/S ratio 12.6 · EPS (TTM) $−0.0400 · Net margin 351% · Return on equity 9.5% · Return on assets (EBIT) −3.3% · Operating margin −1,449% · Revenue (TTM) $460K.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 35 out of 100 (medium confidence).

What moves the price

The share trades about 89% below its 52-week high and 50% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Technology peers we cover trades at −6% fair-value upside, at 133%, IONI screens cheaper than that median.

Fair Value models

Bear $0.2100 Fair Value $0.2800 Bull $0.4200
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Highest evidence
NCAV (Graham) $0.2100 $0.2800 $0.4200 54
All 1 models by family
Asset-Based
NCAV (Graham) $0.2100 $0.2800 $0.4200 54

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Quality Score breakdown

Overall quality 25/100

Of which business quality 25 · Market factors (momentum, volatility) 1

Profitability 1
Margins and returns on capital today
Quality Growth 72
Are margins and returns improving?
Cashflow 0
Earnings quality: real cash, not paper profit
Fin. Strength 50
Balance sheet, leverage, solvency risk
Investment 43
Disciplined investing over empire-building
Low Volatility 0
Calm price path (market factor)
Momentum 0
Price trend over the last 3–12 months (market factor)
52W Momentum 2
Distance to the 52-week high (market factor)
Net Issuance 0
Share count: buybacks or dilution?

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Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 16/100
Revenue growth is weak, negative or inconsistent.
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−47.1%
Start year 2020 (pandemic). Over 10 years: −14.0% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−13.1%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
16.2% (2020) → −638.7% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
not computed

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Application · 721 stocks

Beats the industry median on 4/7 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 25 · Bottom 25%
Fair Value upside +133% · Top 25%
Profitability
Return on equity (TTM) 10% · Above median
Return on assets −9% · Bottom 25%
Balance sheet
Debt / equity 0.01× · Below median

Valuation Multiplesvs Software - Application median · lower = cheaper

P/B 0.41× · Cheapest 25%
P/S (TTM) 12.60× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)100 · sector 25
FUTURE (revenue growth)0 · sector 38
PAST (return on equity)38 · sector 16
HEALTH (low debt)99 · sector 97
DIVIDEND (yield)0 · sector 30

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Application stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value
SAP SE SAP €184.18 €172.46 −6%
Salesforce, Inc CRM $238.22 $342.73 +44%
Shopify Inc SHOP $145.16 $64.36 −56%
ServiceNow, Inc NOW $137.78 $151.56 +10%
Uber Technologies, Inc UBER $69.22 $103.69 +50%
Cadence Design Systems, Inc CDNS $309.09 $225.14 −27%
Snowflake Inc SNOW $334.81 $75.08 −78%
Datadog, Inc DDOG $251.49 $32.92 −87%
Adobe Inc ADBE $238.25 $454.04 +91%
Automatic Data Processing, Inc ADP $263.68 $177.51 −33%

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I-On Digital Corp · Fair Value
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Cite: Fair Value Calculator (2026). "I-On Digital Corp Fair Value". https://www.fairvalue-calculator.com/stock/IONI

Frequently asked questions

Is I-On Digital Corp (IONI) overvalued or undervalued?
As of Jul 25, 2026, our model estimates a fair value of $0.2800 versus a price of $0.1200, about +133% upside (undervalued).
What is the fair value of IONI?
Our model-based fair value for I-On Digital Corp is $0.2800 (as of Jul 25, 2026), built from audited fundamentals. The current price: $0.1200.
What is the quality score of IONI?
I-On Digital Corp has a Quality Score of 25/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for I-On Digital Corp (IONI)?
Our model-based price target is the fair value of $0.2800 (as of Jul 25, 2026) from 1 valuation models. Cautious scenario $0.2100, optimistic scenario $0.4200. It is a calculation from audited fundamentals, not an analyst target.
What is the I-On Digital Corp stock forecast for 2026?
Our models put fair value at $0.2800, about +133% upside versus a price of $0.1200 (undervalued). Cautious scenario $0.2100, optimistic scenario $0.4200. The calculation is refreshed regularly with new filings.
What is the revenue of I-On Digital Corp (IONI)?
I-On Digital Corp reported trailing-twelve-month revenue of about $460K (latest available figure, as of Jul 25, 2026).
What is the intrinsic value of I-On Digital Corp (IONI)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For I-On Digital Corp it is $0.2800 per share (as of Jul 25, 2026), against a price of $0.1200. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is I-On Digital Corp stock overvalued or undervalued in 2026?
As of Jul 25, 2026, IONI trades below its calculated fair value: price $0.1200, fair value $0.2800, a gap of about +133% (undervalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of IONI?
No. The price is what the market pays today ($0.1200); the fair value is what the company's own numbers justify ($0.2800). For I-On Digital Corp the two are $0.1600 per share apart. That gap is exactly why we show both numbers side by side.
How much is I-On Digital Corp worth?
The market values I-On Digital Corp at about $5.8M (market capitalisation, as of Jul 25, 2026). Per share that is $0.1200; our models calculate a fair value of $0.2800 per share.
What do the bullish and bearish scenarios say about IONI?
Our models span a range for I-On Digital Corp: cautious scenario $0.2100, base $0.2800, optimistic $0.4200 per share (as of Jul 25, 2026, price $0.1200). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of I-On Digital Corp (IONI)?
Balance-sheet figures for I-On Digital Corp (as of Jul 25, 2026): return on equity 9.5%, debt of 0.01 per unit of equity. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
How far is IONI from its 52-week high?
I-On Digital Corp trades at $0.1200, about 89% below its 52-week high of $1.08 and 50% above the low of $0.0801 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of $0.2800 is for.
Which stocks are comparable to I-On Digital Corp?
From the same area (Technology) we also value SAP SE, Salesforce, Inc, Shopify Inc, ServiceNow, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is I-On Digital Corp stock attractive at the current price?
The data as of Jul 25, 2026: price $0.1200, calculated fair value $0.2800 (+133%), Quality Score 25/100, from 1 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of IONI calculated?
We run I-On Digital Corp through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $0.2800, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.0 % above its aggregate fair value. I-On Digital Corp currently trades 133 % below its own fair value, and the market average says nothing about that. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of I-On Digital Corp (IONI)?
The closing price on Sep 24, 2026 was $0.1200. Our model-based fair value is $0.2800, about +133% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with I-On Digital Corp right now?
The large discount to fair value meets weak quality (25/100). That raises the risk this is a value trap rather than a bargain. The price is below even our cautious bear case ($0.2100). The market is more pessimistic than our downside scenario. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range ($0.2100 to $0.4200) leaves room in how you read the outcome.

Key figures of I-On Digital Corp

How large is the market capitalisation of I-On Digital Corp (IONI)?
The market capitalisation of I-On Digital Corp is $5.8M. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of I-On Digital Corp (IONI)?
The price-to-sales ratio of I-On Digital Corp is 12.6 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of I-On Digital Corp (IONI)?
Earnings per share at I-On Digital Corp are $−0.0400. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of I-On Digital Corp (IONI)?
The net margin of I-On Digital Corp is 351% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of I-On Digital Corp (IONI)?
The return on equity (ROE) of I-On Digital Corp is 9.5% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of I-On Digital Corp (IONI)?
On an EBIT basis the return on assets of I-On Digital Corp is −3.3% (avg 4y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of I-On Digital Corp (IONI)?
The operating margin of I-On Digital Corp is −1,449% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast are earnings growing at I-On Digital Corp (IONI)?
Earnings per share at I-On Digital Corp are growing −24.8% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does I-On Digital Corp (IONI) generate?
The free cash flow of I-On Digital Corp is −$1.0M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does I-On Digital Corp (IONI) carry?
The net debt of I-On Digital Corp is $392K (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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