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Nuveen Churchill Direct Lending (NCDL) Operating Expenses (2022 - 2025)

Nuveen Churchill Direct Lending's Operating Expenses history spans 4 years, with the latest figure at $28.2 million for Q4 2025.

  • For Q4 2025, Operating Expenses fell 8.38% year-over-year to $28.2 million; the TTM value through Dec 2025 reached $116.6 million, down 1.65%, while the annual FY2025 figure was $116.6 million, 1.65% down from the prior year.
  • Operating Expenses for Q4 2025 was $28.2 million at Nuveen Churchill Direct Lending, down from $29.7 million in the prior quarter.
  • Across five years, Operating Expenses topped out at $34.3 million in Q3 2024 and bottomed at $5.1 million in Q1 2022.
  • The 4-year median for Operating Expenses is $24.7 million (2023), against an average of $21.9 million.
  • The largest annual shift saw Operating Expenses surged 218.38% in 2023 before it decreased 13.32% in 2025.
  • A 4-year view of Operating Expenses shows it stood at $15.0 million in 2022, then skyrocketed by 53.21% to $23.1 million in 2023, then surged by 33.51% to $30.8 million in 2024, then decreased by 8.38% to $28.2 million in 2025.
  • Per Business Quant, the three most recent readings for NCDL's Operating Expenses are $28.2 million (Q4 2025), $29.7 million (Q3 2025), and $30.3 million (Q2 2025).