Nuveen Churchill Direct Lending (NCDL) Interest Expenses (2022 - 2026)
Nuveen Churchill Direct Lending (NCDL) posted Interest Expenses of $23.3 million for Q1 2026, up 96.39% sequentially from $11.9 million in Q4 2025, and up 9.77% YoY from $21.2 million in Q1 2025.
Nuveen Churchill Direct Lending (NCDL) Interest Expenses (2022 - 2026) Analysis & Trends
Nuveen Churchill Direct Lending has reported Interest Expenses for 5 years, with the latest figure at $23.3 million in Q1 2026.
- Quarterly Interest Expenses rose 9.77% year-over-year to $23.3 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $74.5 million (down 5.55% YoY) and the FY2025 annual result came in at $77.9 million, down 2.48% from the prior year.
- Interest Expenses advanced to $23.3 million in Q1 2026 per NCDL's latest filing, from $11.9 million in the prior quarter.
- Over five years, Interest Expenses peaked at $23.3 million in Q1 2026 and troughed at $3.0 million in Q1 2022.
- A 5-year average of $15.3 million and a median of $16.0 million in 2023 frame the typical range for Interest Expenses.
- The sharpest annual moves came in 2023 and 2025: Interest Expenses jumped 321.81% in 2023, then slipped 24.47% in 2025.
- Over 5 years, Interest Expenses stood at $15.5 million in 2022, then rose by 10.6% to $17.1 million in 2023, then declined by 8.36% to $15.7 million in 2024, then decreased by 24.47% to $11.9 million in 2025, then surged by 96.39% to $23.3 million in 2026.
- According to Business Quant data, Interest Expenses over the past three periods registered $23.3 million, $11.9 million, and $19.2 million for Q1 2026, Q4 2025, and Q3 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Interest Expense (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.54 Bn | 165.67 Bn | - | 134.00 Mn |
| 2 | Blackstone | 114.83 Bn | 112.32 Bn | - | 145.02 Mn |
| 3 | Kkr | 97.26 Bn | -179.81 Bn | - | 702.75 Mn |
| 4 | Brookfield | 93.07 Bn | 45.66 Bn | - | - |
| 5 | Brookfield Asset Management | 83.46 Bn | 81.96 Bn | - | 53.00 Mn |
| 6 | Apollo Global Management | 78.41 Bn | 53.04 Bn | 10.54 Bn | 88.00 Mn |
| 7 | State Street | 51.66 Bn | 51.66 Bn | - | 1.98 Bn |
| 8 | Ameriprise Financial | 51.12 Bn | 40.07 Bn | 4.72 Bn | 169.00 Mn |
| 9 | Raymond James Financial | 33.99 Bn | 20.74 Bn | - | 434.00 Mn |
| 10 | Nuveen Churchill Direct Lending | 606.47 Mn | 565.71 Mn | - | 16.57 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 16.57 Mn |
| Jun 30, 2026 | 16.57 Mn |
| Mar 31, 2026 | 23.31 Mn |
| Mar 31, 2026 | 23.31 Mn |
| Dec 31, 2025 | 11.87 Mn |
| Dec 31, 2025 | 11.87 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 | 15.72 Mn |
| Dec 31, 2024 | 15.72 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 |