Nuveen Churchill Direct Lending (NCDL) Free Cash Flow (2022 - 2026)
Nuveen Churchill Direct Lending (NCDL) posted Free Cash Flow of -$13.7 million for Q1 2026, down 148.09% sequentially from $28.6 million in Q4 2025, and down 55.97% YoY from -$31.2 million in Q1 2025.
Nuveen Churchill Direct Lending (NCDL) Free Cash Flow (2022 - 2026) Analysis & Trends
Nuveen Churchill Direct Lending has reported Free Cash Flow for 5 years, with the latest figure at -$13.7 million in Q1 2026.
- Quarterly Free Cash Flow fell 55.97% year-over-year to -$13.7 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $189.2 million (up 190.78% YoY) and the FY2025 annual result came in at $194.2 million, up 165.33% from the prior year.
- Free Cash Flow declined to -$13.7 million in Q1 2026 per NCDL's latest filing, from $28.6 million in the prior quarter.
- Over five years, Free Cash Flow peaked at $137.1 million in Q2 2025 and troughed at -$169.4 million in Q2 2024.
- A 5-year average of -$53.8 million and a median of -$69.4 million in 2022 frame the typical range for Free Cash Flow.
- The sharpest annual moves came in 2024 and 2025: Free Cash Flow slumped 137.56% in 2024, then jumped 188.13% in 2025.
- Over 5 years, Free Cash Flow stood at -$88.3 million in 2022, then sank by 52.62% to -$134.7 million in 2023, then soared by 108.9% to $12.0 million in 2024, then surged by 138.32% to $28.6 million in 2025, then slumped by 148.09% to -$13.7 million in 2026.
- According to Business Quant data, Free Cash Flow over the past three periods registered -$13.7 million, $28.6 million, and $37.3 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.54 Bn | 165.67 Bn | - | 1.12 Bn |
| 2 | Blackstone | 114.83 Bn | 112.32 Bn | - | 1.91 Bn |
| 3 | Kkr | 97.26 Bn | -179.81 Bn | - | 3.20 Bn |
| 4 | Brookfield | 93.07 Bn | 45.66 Bn | - | - |
| 5 | Brookfield Asset Management | 83.46 Bn | 81.96 Bn | - | 535.00 Mn |
| 6 | Apollo Global Management | 78.41 Bn | 53.04 Bn | 10.54 Bn | 2.88 Bn |
| 7 | State Street | 51.66 Bn | 51.66 Bn | - | -3.00 Bn |
| 8 | Ameriprise Financial | 51.12 Bn | 40.07 Bn | 4.72 Bn | 2.85 Bn |
| 9 | Raymond James Financial | 33.99 Bn | 20.74 Bn | - | -308.00 Mn |
| 10 | Nuveen Churchill Direct Lending | 606.47 Mn | 565.71 Mn | - | 61.02 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 61.02 Mn |
| Jun 30, 2026 | 61.02 Mn |
| Mar 31, 2026 | -13.74 Mn |
| Mar 31, 2026 | -13.74 Mn |
| Dec 31, 2025 | 28.57 Mn |
| Dec 31, 2025 | 28.57 Mn |
| Sep 30, 2025 | 37.25 Mn |
| Sep 30, 2025 | 37.25 Mn |
| Jun 30, 2025 | 137.15 Mn |
| Jun 30, 2025 | 137.15 Mn |
| Mar 31, 2025 | -8.81 Mn |
| Mar 31, 2025 | -8.81 Mn |
| Dec 31, 2024 | 11.99 Mn |
| Dec 31, 2024 | 11.99 Mn |
| Sep 30, 2024 | -42.27 Mn |
| Sep 30, 2024 | -42.27 Mn |
| Jun 30, 2024 | -169.36 Mn |
| Jun 30, 2024 | -169.36 Mn |
| Mar 31, 2024 | -97.56 Mn |
| Mar 31, 2024 | -97.56 Mn |