Nuveen Churchill Direct Lending (NCDL) Market Capitalization (2024 - 2026)
Nuveen Churchill Direct Lending's Market Capitalization came in at $555.6 million for Q3 2026, down 18.5% from $681.54 million a year earlier and down 9.4% from the prior quarter.
Powered by 
Analysis
Nuveen Churchill Direct Lending (NCDL) Market Capitalization (2024 - 2026) Analysis & Trends
For FY2025, Nuveen Churchill Direct Lending's Market Capitalization was $658.82 million, down 26.5% from FY2024.
- Going back by year, Market Capitalization was $895.84 million in FY2024.
- The Q3 2026 figure represents the lowest quarterly Market Capitalization in data going back to Q1 2024.
- Year-over-year, Market Capitalization has declined for seven consecutive quarters, with an average decline of 21.8% over the last seven quarters.
- Business Quant data shows NCDL's Market Capitalization at $613.39 million (Q2 2026), $628.2 million (Q1 2026) and $658.82 million (Q4 2025) in the three quarters before Q3 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Royalty Pharma | 39.80 Bn | 40.13 Bn | - |
| 2 | Rocket Companies | 38.90 Bn | 27.72 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 | - |
| 5 | Synchrony Financial | 22.47 Bn | -45.15 Bn | - |
| 6 | Affirm Holdings | 22.07 Bn | 15.11 Bn | - |
| 7 | Royal Gold | 21.71 Bn | 20.92 Bn | 402.46 Mn |
| 8 | Ares Capital | 13.84 Bn | 11.59 Bn | - |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - |
| 10 | Nuveen Churchill Direct Lending | 581.78 Mn | 549.38 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 555.60 Mn |
| Jun 30, 2026 | 613.39 Mn |
| Mar 31, 2026 | 628.20 Mn |
| Dec 31, 2025 | 658.82 Mn |
| Sep 30, 2025 | 681.54 Mn |
| Jun 30, 2025 | 802.18 Mn |
| Mar 31, 2025 | 869.67 Mn |
| Dec 31, 2024 | 895.84 Mn |
| Sep 30, 2024 | 950.64 Mn |
| Jun 30, 2024 | 951.88 Mn |
| Mar 31, 2024 | 989.97 Mn |
API Access
Nuveen Churchill Direct Lending Market Capitalization 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=market-capitalization&ticker=NCDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "market-capitalization", "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=market-capitalization&ticker=NCDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();