Nuveen Churchill Direct Lending (NCDL) Free Cash Flow (2022 - 2026)

Nuveen Churchill Direct Lending's Free Cash Flow history runs 5 years deep, the most recent figure standing at -$13.7 million for Q1 2026.

• In Q1 2026, Free Cash Flow fell 55.97% year-over-year to -$13.7 million; the TTM figure through Mar 2026 stood at $189.2 million (up 190.78% YoY), while the FY2025 annual figure was $194.2 million, up 165.33% from the prior year.
• Free Cash Flow came in at -$13.7 million for Q1 2026 at Nuveen Churchill Direct Lending, down from $28.6 million in the prior quarter.
• In the past five years, Free Cash Flow ranged from a high of $137.1 million in Q2 2025 to a low of -$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.
• Across the five-year window, Free Cash Flow sank 137.56% in 2024 and soared 188.13% in 2025, its largest moves.
• Nuveen Churchill Direct Lending's Free Cash Flow stood at -$88.3 million in 2022, then plunged by 52.62% to -$134.7 million in 2023, then surged by 108.9% to $12.0 million in 2024, then jumped by 138.32% to $28.6 million in 2025, then sank 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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