Nuveen Churchill Direct Lending (NCDL) Total Debt (2022 - 2026)
Nuveen Churchill Direct Lending's Total Debt was $1.09 billion in Q2 2026, down 2.4% from $1.11 billion a year earlier and down 4.3% from the prior quarter.
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Analysis
Nuveen Churchill Direct Lending (NCDL) Total Debt (2022 - 2026) Analysis & Trends
At the end of FY2025, Total Debt at Nuveen Churchill Direct Lending came in at $1.12 billion, up 0.6% from FY2024.
- Total Debt has now increased for three consecutive years, with a three-year compound annual growth rate of 16.8% (FY2022 to FY2025).
- In earlier years, Total Debt was $1.11 billion in FY2024 (+17.4%), $943.94 million in FY2023 (+34.9%) and $699.77 million in FY2022.
- The Q2 2026 figure marks the lowest quarterly Total Debt since Q2 2024.
- Compared with a year earlier, Total Debt was higher in six of the last eight quarters, with growth averaging 11.8%.
- The best year-over-year quarter for Total Debt over five years was Q1 2025 (growth of 46.8%); the worst was Q1 2026 (a decline of 5.2%).
- Per Business Quant data, NCDL's Total Debt in the three quarters before Q2 2026 was $1.14 billion (Q1 2026), $1.12 billion (Q4 2025) and $1.11 billion (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Total Debt (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 16.64 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 39.58 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 8.96 Bn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 3.33 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 7.52 Bn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 395.89 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 34.37 Bn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | - |
| 10 | Nuveen Churchill Direct Lending | 555.60 Mn | 555.60 Mn | - | 1.09 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.09 Bn |
| Mar 31, 2026 | 1.14 Bn |
| Dec 31, 2025 | 1.12 Bn |
| Sep 30, 2025 | 1.11 Bn |
| Jun 30, 2025 | 1.11 Bn |
| Mar 31, 2025 | 1.20 Bn |
| Dec 31, 2024 | 1.11 Bn |
| Sep 30, 2024 | 1.09 Bn |
| Jun 30, 2024 | 1.02 Bn |
| Mar 31, 2024 | 817.21 Mn |
| Dec 31, 2023 | 943.94 Mn |
| Sep 30, 2023 | 860.19 Mn |
| Jun 30, 2023 | 818.55 Mn |
| Mar 31, 2023 | 763.71 Mn |
| Dec 31, 2022 | 699.77 Mn |
API Access
Nuveen Churchill Direct Lending Total Debt 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=total-debt&ticker=NCDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "total-debt", "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=total-debt&ticker=NCDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();