Nuveen Churchill Direct Lending (NCDL) Operating Expenses (2022 - 2026)

Nuveen Churchill Direct Lending (NCDL) has 5 years of Operating Expenses data on file, last reported at $26.2 million in Q1 2026.

• For the quarter ending Q1 2026, Operating Expenses fell 7.65% year-over-year to $26.2 million; the trailing twelve-month figure through Mar 2026 stood at $114.4 million (down 5.14% YoY), and the FY2025 full-year result was $116.6 million, down 1.65% from the prior year.
• Operating Expenses eased to $26.2 million in Q1 2026, from $28.2 million in the prior quarter.
• In the past five years, Operating Expenses ranged from a high of $34.3 million in Q3 2024 to a low of $5.1 million in Q1 2022.
• A 5-year average of $22.1 million and a median of $26.2 million in 2026 frame the typical range for Operating Expenses.
• Across the five-year window, Operating Expenses jumped 218.38% in 2023 and retreated 13.32% in 2025, its largest moves.
• Tracing NCDL's Operating Expenses over 5 years: stood at $15.0 million in 2022, then surged by 53.21% to $23.1 million in 2023, then soared by 33.51% to $30.8 million in 2024, then fell by 8.38% to $28.2 million in 2025, then retreated by 7.06% to $26.2 million in 2026.
• Business Quant data shows NCDL's Operating Expenses at $26.2 million in Q1 2026, $28.2 million in Q4 2025, and $29.7 million in Q3 2025.