NCDL revenueQ3 2026$43.67M
- Quarter YoY
- -14.5%
NCDL revenue was $43.67M in fiscal Q3 2026 (ended Sep 30, 2026), down 14.5% from a year earlier.
Nuveen Churchill Direct Lending Corp. (NCDL) financials
For the twelve months ended Sep 30, 2026, Nuveen Churchill Direct Lending Corp. reported $44.19M of net income.
- Net income, TTM
- $44.19M
- Net income growth, YoY
- -44.2%
- Cash
- $39.11M
- Total debt
- $1.04B
- P/E
- 13.25
- Market cap
- $585.4M
FY2021FY2025
NCDL revenue and earnings growth
NCDL net incomeQ3 2026$15.99M
- Quarter YoY
- -14.3%
- QoQ
- +344.9%
- FY YoY
- -43.6%
NCDL net income was $15.99M in fiscal Q3 2026 (ended Sep 30, 2026), down 14.3% from a year earlier and up 344.9% from the prior quarter. For the full fiscal 2025 it was $65.61M, down 43.6% from fiscal 2024. It rose in 2 of the last 4 fiscal years.
NCDL EPSQ4 2025$0.44
- QoQ
- +2.3%
- FY YoY
- -17.7%
NCDL diluted EPS was $0.44 in fiscal Q4 2025 (ended Dec 31, 2025), up 2.3% from the prior quarter. For the full fiscal 2025 it was $1.86, down 17.7% from fiscal 2024.
Income statement
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Income tax | $823.0K | - | - | - | - |
| Net income | $65.61M | $116.32M | $75.94M | $17.29M | $27.27M |
| EPS, basic | $1.86 | $2.26 | $2.52 | $1.95 | $1.58 |
| EPS, diluted | $1.86 | $2.26 | $2.52 | $1.95 | $1.58 |
| Diluted shares | 50.3M | 54.1M | 33.4M | 23.3M | 12.85B |
Balance sheet
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Cash and equivalents | $62.48M | $43.30M | $67.44M | $39.32M | $35.24M |
| Total assets | $2.05B | $2.14B | $1.73B | $1.25B | - |
| Total debt | $1.11B | $1.11B | $951.88M | $705.45M | - |
| Total liabilities | $1.18B | $1.17B | $982.98M | $729.00M | - |
| Shareholders' equity | $875.18M | $970.32M | $747.88M | $524.96M | $374.05M |
Cash flow
| Line item | Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 |
|---|---|---|---|---|---|
| Operating cash flow | $194.16M | -$297.20M | -$369.52M | -$427.84M | -$389.12M |
| Financing cash flow | -$174.98M | $273.06M | $397.65M | $431.93M | $411.70M |
| Dividends paid | $102.25M | $95.23M | $63.19M | $34.66M | $14.71M |
| Share repurchases | $65.75M | $33.53M | $0 | $0 | - |
Key ratios
Income statement
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $43.67M | - | - | - | $51.11M | - | - | - | - | - | - | - |
| Net income | $15.99M | $3.59M | $8.69M | $15.92M | $18.66M | $16.02M | $15.02M | $29.45M | $36.64M | $20.20M | $30.02M | $28.77M |
| EPS, basic | - | - | - | $0.44 | $0.43 | $0.46 | $0.53 | $0.55 | $0.58 | $0.57 | $0.56 | - |
| EPS, diluted | - | - | - | $0.44 | $0.43 | $0.46 | $0.53 | $0.55 | $0.58 | $0.57 | $0.56 | - |
| Diluted shares | 49.4M | 49.4M | 49.4M | - | 49.4M | 50.2M | 52.2M | - | 54.7M | 54.8M | 52.8M | - |
Balance sheet
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $39.11M | $45.76M | $50.40M | $62.48M | $46.33M | $44.01M | $49.18M | $43.30M | $69.35M | $71.04M | $64.20M | $67.44M |
| Total assets | $1.92B | $1.99B | $2.05B | $2.05B | $2.04B | $2.07B | $2.17B | $2.14B | $2.14B | $2.08B | $1.88B | $1.73B |
| Total debt | $1.04B | $1.09B | $1.14B | $1.11B | $1.10B | $1.11B | $1.20B | $1.11B | $1.10B | $1.03B | $825.50M | $951.88M |
| Total liabilities | $1.08B | $1.14B | $1.18B | $1.18B | $1.16B | $1.19B | $1.25B | $1.17B | $1.15B | $1.10B | $877.25M | $982.98M |
| Shareholders' equity | $846.19M | $848.97M | $864.11M | $875.18M | $881.49M | $887.74M | $920.02M | $970.32M | $990.61M | $986.37M | $998.23M | $747.88M |
Cash flow
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $63.61M | $61.02M | -$13.74M | $28.57M | $37.25M | $137.15M | -$8.81M | $11.99M | -$42.27M | -$169.36M | -$97.56M | -$134.71M |
| Financing cash flow | -$70.26M | -$65.67M | $1.66M | -$12.42M | -$34.93M | -$142.31M | $14.68M | -$38.04M | $40.59M | $176.20M | $94.31M | $166.13M |
| Dividends paid | $18.74M | $19.75M | $22.22M | $22.22M | $22.30M | $28.27M | $29.47M | $27.86M | $26.55M | $21.49M | $19.33M | $16.73M |
| Share repurchases | $0 | $0 | $0 | $0 | $2.69M | $26.00M | $37.06M | $22.45M | $5.93M | $5.15M | $0 | $0 |
Key ratios
| Line item | Sep 30, 2026 | Jun 30, 2026 | Mar 31, 2026 | Dec 31, 2025 | Sep 30, 2025 | Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue growth, YoY | -14.5% | - | - | - | - | - | - | - | - | - | - | - |
| Net income growth, YoY | -14.3% | -77.6% | -42.2% | -45.9% | -49.1% | -20.7% | -50.0% | 2.4% | 81.9% | 41.2% | 136.1% | 296.2% |
| EPS growth, YoY | - | - | - | - | -25.9% | -19.3% | -5.4% | - | - | - | - | - |
| Net margin | 36.6% | - | - | - | 36.5% | - | - | - | - | - | - | - |
| Debt to equity | 1.23 | 1.29 | 1.32 | 1.27 | 1.25 | 1.26 | 1.31 | 1.15 | 1.11 | 1.04 | 0.83 | 1.27 |
Source: XBRL data Nuveen Churchill Direct Lending Corp. files with the SEC, latest filing dated Nov 3, 2026 (see filings on SEC EDGAR). Provided for information only, not investment advice. Check the filing before relying on a number.
* Worked out from the filings rather than stated in them: Q4 is the full year less the first nine months.
Per-share figures are as filed. The filings show no stock split in these periods.
EPS growth is left out where the share count moved enough to suggest a split the filings do not show. Growth rates need a positive starting figure. CAGR is compound annual growth between fiscal years. The CSV holds every period on file, in full figures, from the same SEC filings.
NCDL FAQ
4 questionsIs NCDL profitable?
Yes. Nuveen Churchill Direct Lending Corp. earned $44.19M in net income for the twelve months ended Sep 30, 2026.How much cash and debt does NCDL have?
Nuveen Churchill Direct Lending Corp. reported $39.11M in cash and cash equivalents and $1.04B of debt on its most recent balance sheet in SEC filings.When did NCDL last report financial results?
The latest statements here come from Nuveen Churchill Direct Lending Corp.'s 10-Q filed on Nov 3, 2026, covering the period ended Sep 30, 2026.Where does this NCDL financial data come from?
Quantisnow builds these statements from the structured XBRL data Nuveen Churchill Direct Lending Corp. files with the SEC. It is provided for information only and is not investment advice.