Nuveen Churchill Direct Lending (NCDL) Interest Expenses (2022 - 2026)

Nuveen Churchill Direct Lending (NCDL) reported Interest Expenses of $23.3 million for Q1 2026, up 9.77% on a YoY basis from $21.2 million in Q1 2025, and up 77.85% sequentially from $13.1 million in Q4 2025.

Nuveen Churchill Direct Lending (NCDL) Interest Expenses (2022 - 2026) Analysis & Trends

Nuveen Churchill Direct Lending (NCDL) has 5 years of Interest Expenses data on file, last reported at $23.3 million in Q1 2026.

  • For the quarter ending Q1 2026, Interest Expenses rose 9.77% year-over-year to $23.3 million; the trailing twelve-month figure through Mar 2026 stood at $75.7 million (down 10.03% YoY), and the FY2025 full-year result was $77.9 million, down 2.48% from the prior year.
  • Interest Expenses advanced to $23.3 million in Q1 2026, from $13.1 million in the prior quarter.
  • In the past five years, Interest Expenses ranged from a high of $23.3 million in Q1 2026 to a low of $3.0 million in Q1 2022.
  • A 5-year average of $15.4 million and a median of $16.9 million in 2024 frame the typical range for Interest Expenses.
  • Across the five-year window, Interest Expenses surged 321.81% in 2023 and slumped 37.64% in 2025, its largest moves.
  • Tracing NCDL's Interest Expenses over 5 years: stood at $8.9 million in 2022, then surged by 104.37% to $18.1 million in 2023, then rose by 16.02% to $21.0 million in 2024, then plunged by 37.64% to $13.1 million in 2025, then jumped by 77.85% to $23.3 million in 2026.
  • Business Quant data shows NCDL's Interest Expenses at $23.3 million in Q1 2026, $13.1 million in Q4 2025, and $19.2 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Interest Expense (Qtr)
1 Brookfield 1,236.60 Bn 1,311.20 Bn 18.56 Bn -
2 BlackRock 161.01 Bn 148.08 Bn - 134.00 Mn
3 Blackstone 97.77 Bn 96.72 Bn - 137.05 Mn
4 Apollo Global Management 70.80 Bn 90.38 Bn -409.00 Mn 3.25 Bn
5 State Street 51.30 Bn 51.30 Bn - 1.78 Bn
6 Ameriprise Financial 48.54 Bn 39.27 Bn 4.57 Bn 142.00 Mn
7 Northern Trust 32.93 Bn 32.93 Bn - 1.58 Bn
8 Raymond James Financial 32.59 Bn 17.67 Bn - 483.00 Mn
9 Price T Rowe 24.70 Bn 21.13 Bn - -
10 Nuveen Churchill Direct Lending 598.08 Mn 595.34 Mn - 23.31 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 23.31 Mn
Mar 31, 2026 23.31 Mn
Dec 31, 2025 13.11 Mn
Dec 31, 2025 13.11 Mn
Sep 30, 2025 19.21 Mn
Sep 30, 2025 19.21 Mn
Jun 30, 2025 20.11 Mn
Jun 30, 2025 20.11 Mn
Mar 31, 2025 21.24 Mn
Mar 31, 2025 21.24 Mn
Dec 31, 2024 21.02 Mn
Dec 31, 2024 21.02 Mn
Sep 30, 2024 23.20 Mn
Sep 30, 2024 23.20 Mn
Jun 30, 2024 18.72 Mn
Jun 30, 2024 18.72 Mn
Mar 31, 2024 16.94 Mn
Mar 31, 2024 16.94 Mn
Dec 31, 2023 18.12 Mn
Dec 31, 2023 18.12 Mn