Nuveen Churchill Direct Lending Corp.

Nuveen Churchill Direct Lending Corp.

NCDL
Nuveen Churchill Direct Lending Corp.US flagNew York Stock Exchange
12.61
USD
-0.07
- -
622.77MMarket Cap
Nuveen Churchill Direct Lending Corp.
NCDL
(New York Stock Exchange)

Recent

price

12.61

P/E

ratio

- -

div

yld

- -

ROIC.AI

2020
2021
2022
2023
2024
2025
TTM
FRC
0.08
0.54
0.43
1.57
2.06
1.52
1.46
Revenue per Share
0.04
0.5
0.32
1.39
2.15
1.3
1.2
Basic EPS, GAAP
-2.78
-7.1
-7.81
-6.74
-5.49
3.86
3.82
Free Cash Flow per Basic Share
0.06
0.27
0.63
1.15
1.76
2.03
1.92
Dividend per Share
- -
0.07
-0.43
-0.53
-0.48
-1.1
-1.34
Book Value per Share
- -
6.82
9.58
13.64
17.93
17.4
17.42
Tangible Book Value per Share
55
55
55
55
54
50
50
Basic Weighted Avg Shares
4
29
23
86
111
77
73
Sales/Revenue/Turnover
- -
- -
- -
- -
- -
- -
- -
Operating Margin (%)
- -
- -
- -
- -
- -
- -
- -
Depreciation Expense
2
27
17
76
116
66
59
Net Income, GAAP
- -
- -
0.14
1.08
0.13
0.23
0.74
Effective Tax Rate (%)
50.77
92.66
73.9
88.27
104.4
85.65
81.6
Profit Margin (%)
- -
- -
- -
- -
- -
- -
- -
Working Capital
- -
406
700
944
1,108
1,115
1,138
LT Debt
- -
374
525
748
970
875
864
Total Equity
- -
- -
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
- -
- -
- -
- -
- -
- -
Return on Capital (%)
- -
1,504.33
- -
- -
- -
- -
- -
Return on Common Equity (%)

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
- -
- -
- -
LT Finance Leases
- -
- -
- -
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
49
49
49
Market Capitalization
698
671
631

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
- -
- -
- -
Cash, Cash Equivalents & STI
46
62
50
Accounts Receivable, Net
- -
- -
- -
Inventories
- -
- -
- -
Total Current Liabilities
- -
- -
- -
Payables & Accruals
- -
- -
- -
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
- -
-9.81%
Free Cash Flow
- -
-6.56%
-165.33%
Net Income, GAAP
- -
296.69%
-43.59%
Sales/Revenue/Turnover
- -
168.41%
-31.24%
Total Cash Common Dividend
- -
124.93%
7.37%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
29
20
34
29
111
2025
16
19
22
20
77
2026
13
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.57
0.37
0.67
- -
2.15
2025
0.29
0.32
0.38
0.32
1.3
2026
0.18
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.37
0.39
0.49
- -
1.76
2025
0.56
0.56
0.45
0.45
2.03
2026
0.45
- -
- -
- -
- -
Business
Nuveen Churchill Direct Lending Corp. is a business development company (BDC) primarily engaged in investing in senior secured loans to private equity-owned U.S. middle market companies. The company focuses on generating attractive risk-adjusted returns through current income and operates predominantly in the U.S. middle market direct lending sector. Its core products and services include senior secured first lien loans, unitranche loans, second lien loans, mezzanine loans, and equity co-investments alongside private equity sponsors. Nuveen Churchill Direct Lending Corp. benefits from the broader investment platform of Churchill Asset Management, a private capital affiliate of Nuveen, providing access to a diverse spectrum of capital solutions including junior capital and private equity co-investments. Founded as a registered investment advisor and majority-owned indirect subsidiary of Teachers Insurance and Annuity Association of America (TIAA) through Nuveen, LLC, Nuveen Churchill Direct Lending Corp. leverages Churchill’s extensive private equity relationships and history of disciplined investments across industries and economic cycles. The company’s portfolio is broadly diversified by industry and investment type, anchored primarily in senior secured loans, allowing it to participate in larger transactions with limited concentration risks. Recent major developments include a strategic refocus on optimizing balance sheet and capital structure by issuing $300 million of unsecured notes and refinancing collateralized loan obligations (CLOs) to reduce borrowing costs. In 2024 and into 2025, the company saw active investment deployment with over $950 million funded in new investments during 2024, reflecting a 40% year-over-year increase. Nuveen Churchill has also completed a nearly $100 million share repurchase program in mid-2025 to enhance shareholder value and maintains significant liquidity to capitalize on market opportunities. The company’s investment advisory and sub-advisory roles are fulfilled by affiliates of Nuveen, reflecting integration with a leading global asset manager. Geographically, Nuveen Churchill Direct Lending Corp. operates primarily within the United States, focusing on the middle market sector in private equity-backed companies. The company integrates extensive middle market lending expertise through Churchill Asset Management, offering a comprehensive range of debt and equity private capital solutions. This positioning allows Nuveen Churchill Direct Lending Corp. to be a preferred capital partner for private equity sponsors with flexible, scalable financing options. Overall, Nuveen Churchill Direct Lending Corp. is a U.S.-focused BDC specializing in senior secured loans and private equity co-investments within the middle market, leveraging Churchill’s deep market relationships and expertise. Its recent operational and capital structure enhancements position it for continued growth and attractive yield generation for shareholders. The company is headquartered in the United States and is majority-owned by TIAA through Nuveen.

Company News

APIChatGPT
  • 4 Deeply Discounted BDCs Paying Us Up To 13%

  • Nuveen Churchill Direct Lending: Steady Outperformance Continues In Q1

  • The High-Yield Stocks the Smart Money Is Buying Right Now

  • BDC Weekly Review: Total NAV Returns Running Pretty Flat

  • Nuveen Churchill Direct Lending: No Relief In Sight Following Q1 Earnings

  • Nuveen Churchill Direct Lending Q1 Earnings Call Highlights

  • Nuveen Churchill Direct Lending Corp. (NCDL) Q1 2026 Earnings Call Transcript

  • Nuveen Churchill Direct Lending Corp. Announces First Quarter 2026 Results

  • Nuveen Churchill Direct Lending Corp. Schedules First Quarter 2026 Earnings Release and Conference Call

  • Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) Given Consensus Rating of “Hold” by Analysts

  • Brokerages Set Nuveen Churchill Direct Lending Corp. (NYSE:NCDL) PT at $15.40

  • How Much Does Management Matter For A Publicly Traded Company?

  • BDC Weekly Review: Earnings Are Fine

  • Nuveen Churchill Direct Lending: NAV Decline Continues Through Q4 Earnings

  • Nuveen Churchill Direct Lending Corp. (NCDL) Surpasses Q4 Earnings Estimates

  • Nuveen Churchill Direct Lending Corp. (NCDL) Q4 2025 Earnings Call Transcript

  • Nuveen Churchill Direct Lending Corp. Announces Fourth Quarter 2025 Results

  • TriplePoint Venture Growth BDC (NYSE:TPVG) and Nuveen Churchill Direct Lending (NYSE:NCDL) Head-To-Head Review

  • Financial Comparison: Saratoga Investment (NYSE:SAR) & Nuveen Churchill Direct Lending (NYSE:NCDL)

  • Contrasting Nuveen Churchill Direct Lending (NYSE:NCDL) & Crescent Capital BDC (NASDAQ:CCAP)