NCDL · Nuveen Churchill Direct Lending Corp.
Price & Indicators
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Metrics snapshot
Useful current figures from the complete screener profile.
AI Brief
Q2 FY26 earnings call · Aug 6, 2026TL;DR. NCDL reported Q2 net investment income of $0.41 per share covering its $0.36 regular distribution, but NAV declined to $17.19 from $17.50 due to realized and unrealized losses, while non-accruals rose to 1.5% of the portfolio at fair value. Post-quarter, the company redeemed CLO-III at par, issued an additional $100 million of 2030 unsecured notes, and formed an institutional joint venture expected to be accretive to earnings.
- + Interest coverage on first lien loans improved to 2.5x from 2.3x and portfolio net leverage remained at 5.2x
- + Portfolio remains well-diversified across 244 companies and 26 industries with top 10 positions at only 13.2% of fair value
- − Non-accruals rose to 1.5% of portfolio at fair value (2.7% at cost) with four new additions totaling $33.3M cost / $18.7M fair value
- − Watch list increased to 10.8% of fair value from 8.4% at end of Q1
- − Gross originations fell sharply to $12.1M from $82.9M in Q1 amid slower PE-sponsored deal activity
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceBlended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Technicals
trend & momentum for long-term holders Strong SellIllustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Average annual interest rate | 5.72% | the three months ended June 30, 2026 filing | — |
| Average daily borrowings | 1.1B | the three months ended June 30, 2026 filing | — |
| Count of industries | 26 | Three Months Ended June 30, 2026 | — |
| Count of investments | 569 | Three Months Ended June 30, 2026 | — |
| Net Funded (Repaid) Investment Activity | -$42.66M | Jun 30, 2026 | — |
| Net interest margin | 369 | the quarter ended June 30, 2026 | — |
| New Gross Commitments at Par | $12.08M | Jun 30, 2026 | — |
| Number of New Investments | 15 | Jun 30, 2026 | — |
| Number of new portfolio companies | 11 | Three Months Ended June 30, 2026 | — |
| Portfolio companies, end of period | 244 | Three Months Ended June 30, 2026 | — |
| Total Distribution Yield | 8.9% | Jun 30, 2026 | — |
| Weighted average annual coupon on new fixed rate debt investments at par | 12.3% | Three Months Ended June 30, 2026 | — |
| Weighted average annual interest rate on exited or repaid investments at par | 9.3% | Three Months Ended June 30, 2026 | — |
| Weighted Average Annual Interest Rate on new debt and income producing investments at par | 9.2% | Jun 30, 2026 | — |
| Weighted average annual interest rate on new debt investments at par | 9.2% | Three Months Ended June 30, 2026 | — |
| Weighted average annual interest rate on new floating rate debt investments at par | 8.5% | Three Months Ended June 30, 2026 | — |
| Weighted average spread on new floating rate debt investments at par | 4.8% | Three Months Ended June 30, 2026 | — |
| Weighted Average Yield on Debt and Income Producing Investments, at Cost | 9.3% | Jun 30, 2026 | — |
| Weighted Average Yield on Debt and Income Producing Investments, at Fair Value | 9.4% | Jun 30, 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Asset Management — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
NCDL
this stock
Nuveen Churchill Direct Lending Corp.
|
$516.09M | -21.7% | — | — | 1.6% |
|
BLK
BlackRock, Inc.
|
$366.31B | +5.5% | +16.2% | 27.0 | 0.6% |
|
BN
BROOKFIELD Corp /ON/
|
$83.46B | -18.7% | — | — | 1.0% |
|
BX
Blackstone Inc.
|
$82.83B | -28.4% | +9.2% | 24.7 | 3.0% |
|
KKR
KKR & Co. Inc.
|
$80.08B | -30.0% | -11.0% | — | 1.5% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| NCDL | -3.0% | -13.4% | -26.0% | -7.0% | -21.7% |
| SPY | -1.2% | -0.6% | +8.1% | +0.8% | +12.8% |
| vs SPY | -1.8% | -12.9% | -34.1% | -7.9% | -34.4% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.