Nuveen Churchill Direct Lending Corp. (NCDL) vs PennantPark Floating Rate Capital Ltd. (PFLT)
Nuveen Churchill Direct Lending Corp. and PennantPark Floating Rate Capital Ltd. are both Asset Management companies. PennantPark Floating Rate Capital Ltd. is the larger, with a market value of $698.5M against $578.3M — 1.2× the size. Nuveen Churchill Direct Lending Corp. trades at the lower P/E: 12.3× against 13.7×. PennantPark Floating Rate Capital Ltd. grew revenue faster over the last twelve months: 9.33% against −14.4%. Nuveen Churchill Direct Lending Corp. has the higher net margin (24.4% vs 18.5%) and the higher return on invested capital (12.1% vs 3.51%). Across the 20 metrics below, Nuveen Churchill Direct Lending Corp. leads on 14 and PennantPark Floating Rate Capital Ltd. on 6.
Valuation
Profitability
| Metric | NCDL | PFLT | Asset Management median |
|---|---|---|---|
| Gross margin | 100.00% | 100.00% | 100.00% |
| Operating margin | 80.82% | 76.57% | 33.03% |
| Net margin | 24.44% | 18.53% | 13.53% |
| Free cash flow margin | 58.99% | (21.54%) | 12.44% |
| Return on equity | 5.40% | 4.77% | 4.83% |
| Return on assets | 2.31% | 1.95% | 1.57% |
| Return on invested capital | 12.06% | 3.51% | 3.04% |
Growth
Health
Dividend
Size
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