Nuveen Churchill Direct Lending (NCDL) Non Operating Interest Expenses (2022 - 2026)
Nuveen Churchill Direct Lending's Non Operating Interest Expenses came in at $16.57 million for Q2 2026, down 17.6% from $20.11 million a year earlier and down 6.7% from the prior quarter.
Nuveen Churchill Direct Lending (NCDL) Non Operating Interest Expenses (2022 - 2026) Analysis & Trends
Over the trailing twelve months to Jun 30, 2026, Nuveen Churchill Direct Lending reported Non Operating Interest Expenses of $71.47 million, down 15.9% year-over-year; for FY2025, it came in at $77.9 million, down 2.5% from FY2024.
- Non Operating Interest Expenses carries a four-year compound annual growth rate of 67.8% (FY2021 to FY2025).
- Going back by year, Non Operating Interest Expenses was $79.88 million in FY2024 (+30.5%), $61.21 million in FY2023 (+138.2%), $25.7 million in FY2022 (+161.5%) and $9.83 million in FY2021.
- The Q2 2026 figure represents the lowest quarterly Non Operating Interest Expenses since Q3 2023.
- Year-over-year, Non Operating Interest Expenses has declined for four consecutive quarters, with growth averaging 3.3% over the last eight quarters.
- The fastest year-over-year change in Non Operating Interest Expenses over five years came in Q1 2023 (growth of 321.8%), and the weakest in Q2 2026 (a decline of 17.6%).
- Business Quant data shows NCDL's Non Operating Interest Expenses at $17.75 million (Q1 2026), $17.95 million (Q4 2025) and $19.21 million (Q3 2025) in the three quarters before Q2 2026.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Non Operating Interest Expenses (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 374.00 Mn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 281.69 Mn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 93.62 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 118.51 Mn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | - |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 10.01 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 1.32 Bn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | 214.00 Mn |
| 10 | Nuveen Churchill Direct Lending | 555.60 Mn | 555.60 Mn | - | 16.57 Mn |
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 16.57 Mn |
| Mar 31, 2026 | 17.75 Mn |
| Dec 31, 2025 | 17.95 Mn |
| Sep 30, 2025 | 19.21 Mn |
| Jun 30, 2025 | 20.11 Mn |
| Mar 31, 2025 | 20.64 Mn |
| Dec 31, 2024 | 21.02 Mn |
| Sep 30, 2024 | 23.20 Mn |
| Jun 30, 2024 | 18.72 Mn |
| Mar 31, 2024 | 16.94 Mn |
| Dec 31, 2023 | 18.12 Mn |
| Sep 30, 2023 | 16.05 Mn |
| Jun 30, 2023 | 14.30 Mn |
| Mar 31, 2023 | 12.74 Mn |
| Dec 31, 2022 | 11.14 Mn |
| Sep 30, 2022 | 7.30 Mn |
| Jun 30, 2022 | 4.24 Mn |
| Mar 31, 2022 | 3.02 Mn |
Nuveen Churchill Direct Lending Non Operating Interest Expenses 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=non-operating-interest-expenses&ticker=NCDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "non-operating-interest-expenses", "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=non-operating-interest-expenses&ticker=NCDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();