Saturday 17 October 2026 Export NCDL’s income statement to Excel — free account

Nuveen Churchill Direct Lending Corp.

Nuveen Churchill Direct Lending Corp.’s revenue for fiscal 2025 (year ended December 2025) was $207.9 million, down 7.22% from fiscal 2024. In the quarter to June 2026, revenue fell 16.6%, EPS fell 78.1%, free cash flow fell 55.5% and total debt was flat, each against the same quarter a year earlier. Operating cash flow growth for three consecutive years; insiders bought in the last twelve months.

10.62 0.24 −2.21%

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Market cap: $536.4M
P/E: 11.2×
Fwd P/E: 9.5×
Dividend yield: 4.24%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

Total buys 0.24

Totals in millions of $.

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	1	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 14.57%

Capital & Financial Ratios $m

Market Cap 536.35

Revenue 191.73

Net Income 46.86

Free Cash Flow 113.10

Net Debt (45.76)

Current Ratio 0.06

Debt/Equity 0.00

P/E ratio 11.18

Fwd P/E 9.52

P/S ratio 2.74

P/B ratio 0.62

Past 5Y EPS Growth 24.65%

This Y EPS Growth (14.92%)

Next Y EPS Growth (2.90%)

Next Y revenue growth (14.36%)

Next 5Y EPS Growth (7.42%)

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

Dividends

Payout Ratio 0.47

Annual Dividend Rate 0.45

Annual Dividend Yield 4.24%

	total	individual payouts
2027	Powerpack
2026	1.51	0.04 0.02 0.02
2025	1.80	0.10 0.45 0.45 0.45 0.45
2024	1.90	0.45 0.10 0.45 0.10 0.45 0.10 0.45
2023	Powerpack

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	67	43	62	46
Receivables	22	19	14	14
Inventory	—	—	—	—
Other	—	—	15	9
	89	62	92	69

	2023	2024	2025	Q'26
Payables	35	61	41	36
ST’ Debt	—	—	—	—
Other	1	—	—	1,089
	39	65	49	1,130

Compound Annual Growth %

	10y	5y	3y
Sales	—	73.29%	36.10%
Cash Flow	—	0.00%	0.00%
Earnings	—	98.20%	55.99%
Book Value	—	40.89%	18.57%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	46	44	—	—	—
’25	54	53	51	50	208
’24	52	55	60	57	224
’23	34	37	42	49	162
’22	14	16	23	29	82
’21	6	8	10	13	36
’20	3	3	3	5	13

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(14)	61	—	—	—
’25	(9)	137	37	29	194
’24	(98)	(169)	(42)	12	(297)
’23	(41)	(79)	(114)	(135)	(370)
’22	(69)	(157)	(113)	(88)	(428)
’21	(25)	(124)	(158)	(83)	(389)
’20	11	4	(38)	(129)	(152)

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	(14)	61	—	—	—
’25	(9)	137	37	29	194
’24	(98)	(169)	(42)	12	(297)
’23	(41)	(79)	(114)	(135)	(370)
’22	(69)	(157)	(113)	(88)	(428)
’21	(25)	(124)	(158)	(83)	(389)
’20	11	4	(38)	(129)	(152)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	0.18	0.07	—	—	—
’25	0.29	0.32	0.38	0.32	1.30
’24	0.57	0.37	0.67	0.54	2.15
’23	0.44	0.47	0.58	0.73	2.27
’22	0.33	(0.12)	0.24	0.29	0.74
’21	0.45	0.50	0.60	0.56	2.12
’20	(1.03)	(0.54)	0.92	1.09	0.43

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	—	—	—	—	—	—	—	—	16.00	13.16	Analyst estimates 2026–2028 Powerpack
	High	—	—	—	—	—	—	—	—	18.10	18.01
People
People	Employees	—	—	—	—	—	—	—	—	—	—
	Revenue/emp, $m	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income, $m
Income, $m	Revenue	—	—	—	15	13	36	82	162	224	208
	Gross margin, %	—	—	—	100.00	100.00	100.00	100.00	100.00	100.00	100.00
	EBT	—	—	—	7	2	27	17	77	116	66
	EBT margin, %	—	—	—	47.32	16.12	75.13	20.99	47.46	51.99	31.64
	Net income	—	—	—	7	2	27	17	76	116	66
	Depreciation	—	—	—	0	3	(6)	27	(1)	(7)	21
Per share, $
Per share, $	Revenue	—	—	—	3.79	2.68	2.82	3.54	4.85	4.14	4.13
	Earnings	—	—	—	1.79	0.43	2.12	0.74	2.27	2.15	1.30
	Cash flow	—	—	—	(4.42)	(30.64)	(30.28)	(18.38)	(11.07)	(5.49)	3.86
	Capex	—	—	—	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	Free cash flow	—	—	—	(4.42)	(30.64)	(30.28)	(18.38)	(11.07)	(5.49)	3.86
	Book value	—	—	—	16.29	31.75	29.11	22.55	22.40	17.93	17.40
	Shares, m	—	—	—	4	5	13	23	33	54	50
Valuation, ×
Valuation, ×	P/E	—	—	—	8.05	8.05	8.05	8.05	8.05	7.80	10.18
	P/S	—	—	—	3.68	3.68	3.68	3.68	3.68	4.05	3.23
	P/B	—	—	—	0.80	0.80	0.80	0.80	0.80	0.94	0.77
	EV/Sales	—	—	—	9.10	9.10	9.10	9.10	9.10	8.81	8.29
	EV/FCF	—	—	—	(3.98)	(3.98)	(3.98)	(3.98)	(3.98)	(6.64)	8.88
Cash, $m
Cash, $m	Operating cash flow	—	—	—	(18)	(152)	(389)	(428)	(370)	(297)	194
	Capex	—	—	—	—	—	—	—	—	—	—
	Free cash flow	—	—	—	(18)	(152)	(389)	(428)	(370)	(297)	194
Balance, $m
Balance, $m	Working capital	—	—	—	6	11	7	24	50	(3)	42
	Total debt	—	—	—	118	188	406	700	944	1,108	1,115
	Net debt	—	—	—	115	176	371	660	876	1,065	1,053
	Shareholders’ equity	—	—	—	66	158	374	525	748	970	875
Returns, %
Returns, %	ROA	—	—	—	0.00	0.79	4.64	1.67	5.09	6.00	3.13
	ROIC	—	—	—	4.54	1.82	2.52	3.75	5.59	6.23	5.56
	ROE	—	—	—	0.00	1.92	10.26	3.85	11.93	13.54	7.11

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
PFLT PennantPark Floating Rate Capital Ltd.	$660.1M	12.8×	10.2×	+4.07% (above 0%: growing)	−57.89% (below 0%: shrinking)	+392.80% (above 0%: growing)	100.00%	77.14%	Compare
NMFC New Mountain Finance Corporation	$651.3M	— (loss-making)	29.5×	−4.25% (below 0%: shrinking)	+157.14% (above 0%: growing)	−39.48% (below 0%: shrinking)	100.00%	0.00%	Compare
ACGP Associated Capital Group, Inc.	$649.9M	14.8×	4.2×	+13.32% (above 0%: growing)	+3.41% (above 0%: growing)	+254.80% (above 0%: growing)	100.00%	(314.07%)	Compare
SLRC SLR Investment Corp.	$629.0M	8.4×	9.9×	−9.45% (below 0%: shrinking)	−65.91% (below 0%: shrinking)	+112.02% (above 0%: growing)	100.00%	70.73%	Compare
GAIN Gladstone Investment Corporation	$610.1M	3.6×	17.7×	+20.43% (above 0%: growing)	n/m	+116.07% (above 0%: growing)	63.66%	76.50%	Compare
OIO ESGL Holdings Limited	$563.8M	— (loss-making)	—	—	n/m	−65.30% (below 0%: shrinking)	—	0.00%	Compare
NCDL Nuveen Churchill Direct Lending Corp.	$536.4M	11.2×	9.5×	−16.57% (below 0%: shrinking)	−78.13% (below 0%: shrinking)	−55.51% (below 0%: shrinking)	100.00%	82.98%
NOAH Noah Holdings Ltd.	$494.6M	5.8×	7.4×	+3.97% (above 0%: growing)	+38.89% (above 0%: growing)	+214.30% (above 0%: growing)	100.00%	34.81%	Compare
GLAD Gladstone Capital Corporation	$436.7M	8.8×	10.0×	+13.10% (above 0%: growing)	+78.79% (above 0%: growing)	−280.73% (below 0%: shrinking)	100.00%	71.30%	Compare
Median of peers	$619.5M	8.6×	10.0×	+4.07%	+21.15%	+114.05%	100.00%	52.77%

All 120 Asset Management stocks →

Nuveen Churchill Direct Lending Corp. (NCDL) key facts

Concern: Nuveen Churchill Direct Lending Corp.’s revenue for fiscal 2025 (year ended December 2025) was $207.9 million, down 7.22% from fiscal 2024.
Nuveen Churchill Direct Lending Corp. (NCDL) is an Asset Management company in the Financial sector, listed on the New York Stock Exchange.
As of October 16, 2026, NCDL traded at $10.62, a market capitalization of $536.4 million.
Nuveen Churchill Direct Lending Corp. pays an annual dividend of $0.45 per share, a yield of 4.24%, with a payout ratio of 47.4%.
Return on equity was 7.11% and debt-to-equity 0.00.
Its Piotroski F-score is 6 out of 9 for fiscal 2025.