Nuveen Churchill Direct Lending (NCDL) Ending Cash Balance (2018 - 2026)
Nuveen Churchill Direct Lending's Ending Cash Balance came in at $39.11 million for Q3 2026, down 15.6% from $46.33 million a year earlier and down 14.5% from the prior quarter.
Powered by 
Analysis
Nuveen Churchill Direct Lending (NCDL) Ending Cash Balance (2018 - 2026) Analysis & Trends
For FY2025, Nuveen Churchill Direct Lending's Ending Cash Balance was $62.48 million, up 44.3% from FY2024.
- Ending Cash Balance carries a four-year compound annual growth rate of 15.4% (FY2021 to FY2025).
- Going back by year, Ending Cash Balance was $43.3 million in FY2024 (-35.8%), $67.45 million in FY2023 (+71.5%), $39.32 million in FY2022 (+11.6%) and $35.24 million in FY2021.
- The Q3 2026 figure represents the lowest quarterly Ending Cash Balance since Q3 2023.
- Year-over-year, Ending Cash Balance increased in three of the last eight quarters, with an average decline of 11.9%.
- The fastest year-over-year change in Ending Cash Balance over five years came in Q1 2023 (growth of 112.1%), and the weakest in Q2 2025 (a decline of 38.0%).
- Business Quant data shows NCDL's Ending Cash Balance at $45.76 million (Q2 2026), $50.4 million (Q1 2026) and $62.48 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Ending Cash Balance (Qtr) |
|---|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - | 513.66 Mn |
| 2 | Rocket Companies | 38.90 Bn | 27.72 Bn | - | 2.94 Bn |
| 3 | Orix | 38.66 Bn | 9.30 Bn | 13.83 Bn | 7.92 Bn |
| 4 | Federal National Mortgage Association Fannie Mae | 26.46 Bn | -16,107.65 Bn | - | 36.34 Bn |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - | 16.70 Bn |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - | 2.57 Bn |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn | 184.54 Mn |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - | 942.00 Mn |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | 2.18 Bn |
| 10 | Nuveen Churchill Direct Lending | 581.78 Mn | 549.38 Mn | - | 39.11 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 39.11 Mn |
| Jun 30, 2026 | 45.76 Mn |
| Mar 31, 2026 | 50.40 Mn |
| Dec 31, 2025 | 62.48 Mn |
| Sep 30, 2025 | 46.33 Mn |
| Jun 30, 2025 | 44.01 Mn |
| Mar 31, 2025 | 49.18 Mn |
| Dec 31, 2024 | 43.30 Mn |
| Sep 30, 2024 | 69.35 Mn |
| Jun 30, 2024 | 71.04 Mn |
| Mar 31, 2024 | 64.20 Mn |
| Dec 31, 2023 | 67.45 Mn |
| Sep 30, 2023 | 36.02 Mn |
| Jun 30, 2023 | 45.50 Mn |
| Mar 31, 2023 | 49.62 Mn |
| Dec 31, 2022 | 39.32 Mn |
| Sep 30, 2022 | 37.56 Mn |
| Jun 30, 2022 | 33.01 Mn |
| Mar 31, 2022 | 23.39 Mn |
| Dec 31, 2021 | 35.24 Mn |
API Access
Nuveen Churchill Direct Lending Ending Cash Balance API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ending-cash-balance&ticker=NCDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ending-cash-balance", "ticker": "NCDL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ending-cash-balance&ticker=NCDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();