Nuveen Churchill Direct Lending (NCDL) Net Asset Value per Share (2018 - 2026)
Nuveen Churchill Direct Lending's Net Asset Value per Share was $17.13 in Q3 2026, down 4.0% from $17.85 a year earlier and down 0.3% from the prior quarter.
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Analysis
Nuveen Churchill Direct Lending (NCDL) Net Asset Value per Share (2018 - 2026) Analysis & Trends
At the end of FY2025, Net Asset Value per Share at Nuveen Churchill Direct Lending came in at $17.72, down 2.5% from FY2024.
- Net Asset Value per Share shows a four-year compound annual growth rate of -2.2% (FY2021 to FY2025).
- In earlier years, Net Asset Value per Share was $18.18 in FY2024 (+0.3%), $18.13 in FY2023 (-1.0%), $18.32 in FY2022 (-5.5%) and $19.39 in FY2021.
- The Q3 2026 figure marks the lowest quarterly Net Asset Value per Share in data going back to Q1 2022.
- Compared with a year earlier, Net Asset Value per Share has declined for seven straight quarters, with an average decline of 2.1% over the last eight quarters.
- The best year-over-year quarter for Net Asset Value per Share over five years was Q1 2024 (growth of 1.1%); the worst was Q1 2023 (a decline of 6.7%).
- Per Business Quant data, NCDL's Net Asset Value per Share in the three quarters before Q3 2026 was $17.19 (Q2 2026), $17.50 (Q1 2026) and $17.72 (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | NAV per Share (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 | - | 19.31 |
| 9 | Annaly Capital Management | 13.83 Bn | 4.86 Bn | - | - |
| 10 | Nuveen Churchill Direct Lending | 581.78 Mn | 549.38 Mn | - | 17.13 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 17.13 |
| Jun 30, 2026 | 17.19 |
| Mar 31, 2026 | 17.50 |
| Dec 31, 2025 | 17.72 |
| Sep 30, 2025 | 17.85 |
| Jun 30, 2025 | 17.92 |
| Mar 31, 2025 | 17.96 |
| Dec 31, 2024 | 18.18 |
| Sep 30, 2024 | 18.15 |
| Jun 30, 2024 | 18.03 |
| Mar 31, 2024 | 18.21 |
| Dec 31, 2023 | 18.13 |
| Sep 30, 2023 | 17.96 |
| Jun 30, 2023 | 17.93 |
| Mar 31, 2023 | 18.01 |
| Dec 31, 2022 | 18.32 |
| Sep 30, 2022 | 18.54 |
| Jun 30, 2022 | 18.76 |
| Mar 31, 2022 | 19.31 |
| Dec 31, 2021 | 19.39 |
API Access
Nuveen Churchill Direct Lending Net Asset Value per Share 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=net-asset-value-per-share&ticker=NCDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "net-asset-value-per-share", "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=net-asset-value-per-share&ticker=NCDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();