Nuveen Churchill Direct Lending Corp. (NCDL)

US — Financial Services Sector

Peers:

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Key Metrics & Ratings

symbol NCDL
Rev/Share 2.611
Book/Share 17.6211
PB 0.9057
Debt/Equity 0.0
CurrentRatio 0.0
ROIC -2.7212

MktCap 802490569.0
FreeCF/Share -3.9924
PFCF -3.8498
PE 7.3281
Debt/Assets 0.0
DivYield 0.1316
ROE 0.1176

Rating B
Score 3
Recommendation Neutral
P/E Score 4
DCF Score 1
P/B Score 3
D/E Score 1

Recent Analyst Ratings

Type	Ticker	Analyst Firm	Previous Rating	Current Rating	Previous Price Target	Current Price Target	Date
No ratings available.

News

BDC Misconceptions Setting Investors Up For Failure

CGBD, NCDL
Published: July 10, 2025 by: Seeking Alpha
Sentiment: Negative

BDCs face a number of misconceptions in the commentariat having to do with earnings, dividend coverage, and more. Short-term rates are still attractive, BDC valuations are reasonable, and portfolio quality has improved; floating-rate assets remain compelling even at lower levels. Investors should focus on rigorous analysis, valuations, and NII yield, not simplistic headlines or price momentum.

image for news BDC Misconceptions Setting Investors Up For Failure

Nuveen Churchill Direct Lending: This High-Yielding BDC Remains Undervalued

NCDL
Published: May 23, 2025 by: Seeking Alpha
Sentiment: Positive

NCDL remains attractively valued, trading at a notable discount to book despite solid performance and a well-diversified, high-quality portfolio. Fee waivers rolling off will reduce outperformance, but the new fee structure is still shareholder-friendly and supports a sustainable dividend yield. Share repurchases at a discount and management's focus on shareholder interests further enhance returns.

image for news Nuveen Churchill Direct Lending: This High-Yielding BDC Remains Undervalued

Nuveen Churchill Direct Lending Corp. (NCDL) Q1 Earnings and Revenues Lag Estimates

NCDL
Published: May 08, 2025 by: Zacks Investment Research
Sentiment: Negative

Nuveen Churchill Direct Lending Corp. (NCDL) came out with quarterly earnings of $0.53 per share, missing the Zacks Consensus Estimate of $0.57 per share. This compares to earnings of $0.56 per share a year ago.

image for news Nuveen Churchill Direct Lending Corp. (NCDL) Q1 Earnings and Revenues Lag Estimates

Nuveen Churchill Direct Lending Corp. Announces First Quarter 2025 Results

NCDL
Published: May 08, 2025 by: Business Wire
Sentiment: Neutral

NEW YORK--(BUSINESS WIRE)--Nuveen Churchill Direct Lending Corp. (NYSE: NCDL) (“NCDL” or the “Company”), a business development company externally managed by its investment adviser, Churchill DLC Advisor LLC (the “Adviser”), and by its sub-adviser, Churchill Asset Management LLC (“Churchill”), today reported financial results for the first quarter ended March 31, 2025. Financial Highlights for the Quarter Ended March 31, 2025 Net investment income of $0.53 per share Net realized and unrealized.

image for news Nuveen Churchill Direct Lending Corp. Announces First Quarter 2025 Results

My BDC Portfolio: 2 Months In And A Clear Alpha Performance

ARCC, BIZD, CION, FDUS, KBDC, MSDL, NCDL, PBDC, TBIL
Published: May 01, 2025 by: Seeking Alpha
Sentiment: Positive

My BDC Portfolio: 2 Months In And A Clear Alpha Performance

My BDC Portfolio And The Strategy For Alpha Going Forward

ARCC, BIZD, CION, FDUS, KBDC, MSDL, MSIF, NCDL, PBDC, TBIL
Published: March 28, 2025 by: Seeking Alpha
Sentiment: Positive

This is my first BDC portfolio monthly performance review article. The good news is that the portfolio has done its job, outperforming the two BDC benchmarks - PBDC and BIZD. Yet, on an absolute basis, the portfolio is slightly down.

image for news My BDC Portfolio And The Strategy For Alpha Going Forward

Nuveen Churchill Direct Lending: Q4 Outperformance As Fee Waivers Drive High Income

NCDL
Published: March 14, 2025 by: Seeking Alpha
Sentiment: Positive

We take a look at the BDC Nuveen Churchill Direct Lending Q4 results. NCDL trades at a 13.1% dividend yield and a 7% discount to book. The company's portfolio focuses on the tech and healthcare sectors, with an above-average first-lien portfolio and strong diversification across 202 positions.

image for news Nuveen Churchill Direct Lending: Q4 Outperformance As Fee Waivers Drive High Income

Nuveen Churchill Direct Lending: The Market Has Started To Recognize Value, Here Is How To Play It

NCDL
Published: March 13, 2025 by: Seeking Alpha
Sentiment: Negative

My thesis on Nuveen Churchill Direct Lending has started to play out nicely. NCDL has managed to register a decent alpha right in the moment when the BDC has been subject to elevated volatility. Considering the Q4 2024 report and the current BDC market environment, I remain long on NCDL. Yet, the long-term return prospects have weakened a bit.

image for news Nuveen Churchill Direct Lending: The Market Has Started To Recognize Value, Here Is How To Play It

The Moment Of Truth For BDC Dividend Investors Is Close

ARCC, BXSL, CION, GSBD, KBDC, MAIN, MSDL, MSIF, NCDL, OCSL, PNNT, TCPC, TPVG, WHF
Published: March 11, 2025 by: Seeking Alpha
Sentiment: Negative

As a structural BDC bull I have to admit that the period of BDCs consistently surprising us on the upside has come to an end. Many lower quality BDCs have already cut their dividends to sync their cash flows with less favorable private credit lending environment. I would say that the moment of truth for high quality BDCs is also very close, where we will see how really durable their base dividends are.

image for news The Moment Of Truth For BDC Dividend Investors Is Close

About Nuveen Churchill Direct Lending Corp. (NCDL)

IPO Date 2024-01-25
Website https://www.churchillam.com/nuveen-churchill-direct-lending-corp
Industry Asset Management
CEO Kenneth John Kencel
Employees None

Nuveen Churchill Direct Lending Corp. (the Company) is business development company and was formed on March 13, 2018, as a limited liability company under the laws of the State of Delaware and was converted into a Maryland corporation on June 18, 2019 prior to the commencement of operations. The Company is a closed-end, externally managed, non-diversified management investment company that has elected to be regulated as a business development company (BDC) under the Investment Company Act of 1940, as amended (the 1940 Act). The Company's investment objective is to generate attractive risk-adjusted returns primarily through current income by investing primarily in senior secured loans to private equity-owned U.S. middle market companies, which the Company defines as companies with approximately $10.0 million to $100.0 million of earnings before interest, taxes, depreciation and amortization (EBITDA). The Company will focus on privately originated debt to performing U.S. middle market companies, with a portfolio expected to comprise primarily of first-lien senior secured debt and unitranche loans (other than last-out positions in unitranche loans) (collectively Senior Loans). The Company will also opportunistically invest in junior capital opportunities (second-lien loans, subordinated debt, last-out positions in unitranche loans and equity-related securities) (collectively Junior Capital Investments).