Nuveen Churchill Direct Lending (NCDL) Debt Ratio (2022 - 2026)
Nuveen Churchill Direct Lending (NCDL) posted Debt Ratio of 0.56 for Q1 2026, up 2.33% sequentially from 0.54 in Q4 2025, and up 0.59% YoY from 0.55 in Q1 2025.
Nuveen Churchill Direct Lending (NCDL) Debt Ratio (2022 - 2026) Analysis & Trends
Nuveen Churchill Direct Lending has reported Debt Ratio for 5 years, with the latest figure at 0.56 in Q1 2026.
- Quarterly Debt Ratio rose 0.59% year-over-year to 0.56 in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 0.56 (up 0.59% YoY) and the FY2025 annual result came in at 0.54, up 4.98% from the prior year.
- Debt Ratio improved to 0.56 in Q1 2026 per NCDL's latest filing, from 0.54 in the prior quarter.
- Over five years, Debt Ratio peaked at 0.58 in Q2 2023 and troughed at 0.44 in Q1 2024.
- A 5-year average of 0.54 and a median of 0.54 in 2025 frame the typical range for Debt Ratio.
- The sharpest annual moves came in 2024 and 2025: Debt Ratio retreated 24.66% in 2024, then increased 26.71% in 2025.
- Over 5 years, Debt Ratio stood at 0.56 in 2022, then fell by 2.27% to 0.55 in 2023, then fell by 5.2% to 0.52 in 2024, then climbed by 4.98% to 0.54 in 2025, then rose by 2.33% to 0.56 in 2026.
- According to Business Quant data, Debt Ratio over the past three periods registered 0.56, 0.54, and 0.54 for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 0.12 |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 0.26 |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | - |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | 0.03 |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 0.17 |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 0.03 |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | - |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 0.00 |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 0.05 |
| 10 | Nuveen Churchill Direct Lending | 612.40 Mn | 571.64 Mn | - | 0.55 |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 0.55 |
| Mar 31, 2026 | 0.56 |
| Dec 31, 2025 | 0.54 |
| Sep 30, 2025 | 0.54 |
| Jun 30, 2025 | 0.54 |
| Mar 31, 2025 | 0.55 |
| Dec 31, 2024 | 0.52 |
| Sep 30, 2024 | 0.51 |
| Jun 30, 2024 | 0.49 |
| Mar 31, 2024 | 0.44 |
| Dec 31, 2023 | 0.55 |
| Sep 30, 2023 | 0.56 |
| Jun 30, 2023 | 0.58 |
| Mar 31, 2023 | 0.58 |
| Dec 31, 2022 | 0.56 |