Nuveen Churchill Direct Lending (NCDL) Free Cash Flow (2019 - 2026)
Nuveen Churchill Direct Lending (NCDL) reported Free Cash Flow of $63.61 million for Q3 2026, up 70.8% from $37.25 million a year earlier and up 4.2% from the prior quarter.
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Analysis
Nuveen Churchill Direct Lending (NCDL) Free Cash Flow (2019 - 2026) Analysis & Trends
Over the twelve months ended Sep 30, 2026, Nuveen Churchill Direct Lending's Free Cash Flow came in at $139.46 million, down 21.5% year-over-year; for FY2025, it came in at $194.16 million.
- By year, Free Cash Flow came in at -$297.2 million in FY2024, -$369.53 million in FY2023, -$427.84 million in FY2022 and -$389.12 million in FY2021.
- The Q3 2026 figure ranks as the highest quarterly Free Cash Flow since Q2 2025.
- Per Business Quant data, the three quarters before Q3 2026 came in at $61.02 million (Q2 2026), -$13.74 million (Q1 2026) and $28.57 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - | 686.08 Mn |
| 2 | Rocket Companies | 38.90 Bn | 27.72 Bn | - | 1.86 Bn |
| 3 | Orix | 38.66 Bn | 9.30 Bn | 13.83 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 26.46 Bn | -16,107.65 Bn | - | 876.00 Mn |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - | 2.50 Bn |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - | 144.57 Mn |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn | 343.38 Mn |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - | 1.05 Bn |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | 2.86 Bn |
| 10 | Nuveen Churchill Direct Lending | 581.78 Mn | 549.38 Mn | - | 63.61 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 63.61 Mn |
| Jun 30, 2026 | 61.02 Mn |
| Mar 31, 2026 | -13.74 Mn |
| Dec 31, 2025 | 28.57 Mn |
| Sep 30, 2025 | 37.25 Mn |
| Jun 30, 2025 | 137.15 Mn |
| Mar 31, 2025 | -8.81 Mn |
| Dec 31, 2024 | 11.99 Mn |
| Sep 30, 2024 | -42.27 Mn |
| Jun 30, 2024 | -169.36 Mn |
| Mar 31, 2024 | -97.56 Mn |
| Dec 31, 2023 | -134.71 Mn |
| Sep 30, 2023 | -114.33 Mn |
| Jun 30, 2023 | -79.43 Mn |
| Mar 31, 2023 | -41.07 Mn |
| Dec 31, 2022 | -88.26 Mn |
| Sep 30, 2022 | -112.70 Mn |
| Jun 30, 2022 | -157.44 Mn |
| Mar 31, 2022 | -69.45 Mn |
| Dec 31, 2021 | -82.64 Mn |
API Access
Nuveen Churchill Direct Lending Free Cash Flow 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=free-cash-flow&ticker=NCDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=NCDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();