Nuveen Churchill Direct Lending (NCDL) FCF Margin (2022 - 2026)
Nuveen Churchill Direct Lending (NCDL) reported FCF Margin of 29.7% for Q1 2026, down 1326.0% on a YoY basis from 2.42% in Q1 2025, and down 148.46% sequentially from 61.29% in Q4 2025.
Nuveen Churchill Direct Lending (NCDL) FCF Margin (2022 - 2026) Analysis & Trends
Nuveen Churchill Direct Lending (NCDL) has 5 years of FCF Margin data on file, last reported at 29.7% in Q1 2026.
- For the quarter ending Q1 2026, FCF Margin fell 1326.0% year-over-year to 29.7%; the trailing twelve-month figure through Mar 2026 stood at 97.43% (up 19322.0% YoY), and the FY2025 full-year result was 99.11%, up 23858.0% from the prior year.
- FCF Margin fell to 29.7% in Q1 2026, from 61.29% in the prior quarter.
- In the past five years, FCF Margin ranged from a high of 258.12% in Q2 2025 to a low of 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.
- Across the five-year window, FCF Margin soared 74234 bps in 2023 and plunged 10536 bps in 2024, its largest moves.
- Tracing NCDL's FCF Margin over 5 years: stood at 306.87% in 2022, then increased 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 sank by 148 bps to 29.7% in 2026.
- Business Quant data shows NCDL's FCF Margin at 29.7% in Q1 2026, 61.29% in Q4 2025, and 77.24% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Brookfield | 1,236.60 Bn | 1,311.20 Bn | 18.56 Bn | - |
| 2 | BlackRock | 161.01 Bn | 148.08 Bn | - | -16.21% |
| 3 | Blackstone | 97.77 Bn | 96.72 Bn | - | 26.47% |
| 4 | Apollo Global Management | 70.80 Bn | 90.38 Bn | -409.00 Mn | 746.54% |
| 5 | State Street | 51.30 Bn | 51.30 Bn | - | -327.00% |
| 6 | Ameriprise Financial | 48.54 Bn | 39.27 Bn | 4.57 Bn | 8.80% |
| 7 | Northern Trust | 32.93 Bn | 32.93 Bn | - | -24.56% |
| 8 | Raymond James Financial | 32.59 Bn | 17.67 Bn | - | 27.31% |
| 9 | Price T Rowe | 24.70 Bn | 21.13 Bn | - | 41.05% |
| 10 | Nuveen Churchill Direct Lending | 598.08 Mn | 595.34 Mn | - | -29.70% |
Historic Data
Download Data| Date | Value |
|---|---|
| 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% |