Nuveen Churchill Direct Lending (NCDL) Debt to Equity (2022 - 2026)

Nuveen Churchill Direct Lending's Debt to Equity history runs 5 years deep, the most recent figure standing at $1.32 for Q1 2026.

• In Q1 2026, Debt to Equity rose 0.99% year-over-year to $1.32; the TTM figure through Mar 2026 stood at $1.32 (up 0.99% YoY), while the FY2025 annual figure was $1.27, up 11.55% from the prior year.
• Debt to Equity came in at $1.32 for Q1 2026 at Nuveen Churchill Direct Lending, up from $1.27 in the prior quarter.
• In the past five years, Debt to Equity ranged from a high of $1.48 in Q1 2023 to a low of $0.82 in Q1 2024.
• A 5-year average of $1.24 and a median of $1.27 in 2023 frame the typical range for Debt to Equity.
• Across the five-year window, Debt to Equity slumped 44.52% in 2024 and surged 59.27% in 2025, its largest moves.
• Nuveen Churchill Direct Lending's Debt to Equity stood at $1.33 in 2022, then dropped by 5.32% to $1.26 in 2023, then declined by 9.51% to $1.14 in 2024, then climbed by 11.55% to $1.27 in 2025, then gained by 3.35% to $1.32 in 2026.
• According to Business Quant data, Debt to Equity over the past three periods registered $1.32, $1.27, and $1.25 for Q1 2026, Q4 2025, and Q3 2025 respectively.

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