Nuveen Churchill Direct Lending (NCDL) FCF Margin (2022 - 2026)
Nuveen Churchill Direct Lending (NCDL) posted FCF Margin of 29.7% for Q1 2026, down 148.46% sequentially from 61.29% in Q4 2025, and down 1326.0% YoY from 2.42% in Q1 2025.
Nuveen Churchill Direct Lending (NCDL) FCF Margin (2022 - 2026) Analysis & Trends
Nuveen Churchill Direct Lending has reported FCF Margin for 5 years, with the latest figure at 29.7% in Q1 2026.
- Quarterly FCF Margin fell 1326.0% year-over-year to 29.7% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 97.43% (up 19322.0% YoY) and the FY2025 annual result came in at 99.11%, up 23858.0% from the prior year.
- FCF Margin fell to 29.7% in Q1 2026 per NCDL's latest filing, from 61.29% in the prior quarter.
- Over five years, FCF Margin peaked at 258.12% in Q2 2025 and troughed at 956.42% in Q2 2022.
- A 5-year average of 201.68% and a median of 198.78% in 2024 frame the typical range for FCF Margin.
- The sharpest annual moves came in 2023 and 2024: FCF Margin surged 74234 bps in 2023, then slumped 10536 bps in 2024.
- Over 5 years, FCF Margin stood at 306.87% in 2022, then advanced by 0 bps to 305.73% in 2023, then surged by 107 bps to 22.33% in 2024, then surged by 174 bps to 61.29% in 2025, then plunged by 148 bps to 29.7% in 2026.
- According to Business Quant data, FCF Margin over the past three periods registered 29.7%, 61.29%, and 77.24% for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.19 Bn | 165.32 Bn | - | 15.78% |
| 2 | Blackstone | 114.79 Bn | 112.28 Bn | - | 37.86% |
| 3 | Kkr | 96.76 Bn | -180.31 Bn | - | 55.96% |
| 4 | Brookfield | 93.12 Bn | 45.72 Bn | - | - |
| 5 | Brookfield Asset Management | 83.31 Bn | 81.81 Bn | - | 30.52% |
| 6 | Apollo Global Management | 78.28 Bn | 52.91 Bn | 10.54 Bn | 25.83% |
| 7 | State Street | 51.54 Bn | 51.54 Bn | - | -74.14% |
| 8 | Ameriprise Financial | 51.19 Bn | 40.15 Bn | 4.72 Bn | 56.83% |
| 9 | Raymond James Financial | 34.05 Bn | 20.80 Bn | - | -7.06% |
| 10 | Nuveen Churchill Direct Lending | 605.24 Mn | 564.48 Mn | - | 137.65% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 137.65% |
| Mar 31, 2026 | -29.70% |
| Dec 31, 2025 | 61.29% |
| Sep 30, 2025 | 77.24% |
| Jun 30, 2025 | 258.12% |
| Mar 31, 2025 | -16.44% |
| Dec 31, 2024 | 22.33% |
| Sep 30, 2024 | -73.74% |
| Jun 30, 2024 | -319.44% |
| Mar 31, 2024 | -198.78% |
| Dec 31, 2023 | -305.73% |
| Sep 30, 2023 | -273.86% |
| Jun 30, 2023 | -214.08% |
| Mar 31, 2023 | -123.00% |
| Dec 31, 2022 | -306.87% |
| Sep 30, 2022 | -525.69% |
| Jun 30, 2022 | -956.42% |
| Mar 31, 2022 | -503.82% |