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Nuveen Churchill Direct Lending Corp. (the "Company") is business development company and was formed on March 13, 2018, as a limited liability company under the laws of the State of Delaware and was converted into a Maryland corporation on June 18, 2019 prior to the commencement of operations. The Company is a closed-end, externally managed, non-diversified management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). The Company's investment objective is to generate attractive risk-adjusted returns primarily through current income by investing primarily in senior secured loans to private equity-owned U.S. middle market companies, which the Company defines as companies with approximately $10.0 million to $100.0 million of earnings before interest, taxes, depreciation and amortization ("EBITDA"). The Company will focus on privately originated debt to performing U.S. middle market companies, with a portfolio expected to comprise primarily of first-lien senior secured debt and unitranche loans (other than last-out positions in unitranche loans) (collectively "Senior Loans"). The Company will also opportunistically invest in junior capital opportunities (second-lien loans, subordinated debt, last-out positions in unitranche loans and equity-related securities) (collectively "Junior Capital Investments").
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| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Income before tax | 65.76M | 116.48M | 76.77M | 17.31M | 27.27M |
| Minority interest | - | - | 0.71M | -27.91M | 6.19M |
| Net income | 65.61M | 116.32M | 75.94M | 17.29M | 27.27M |
| Selling general administrative | 7.61M | 6.54M | 6.19M | 3.99M | 2.68M |
| Selling and marketing expenses | - | - | 6.03M | 3.81M | 2.16M |
| Gross profit | 171.31M | 111.42M | 86.03M | 23.39M | 29.43M |
| Ebit | - | 202.82M | 179.70M | 3.77M | 37.08M |
| Ebitda | 143.66M | 116.48M | 76.77M | 17.31M | 27.27M |
| Depreciation and amortization | - | -6.62M | 16.66M | 39.21M | 0.02M |
| Operating income | 143.66M | 116.48M | 76.77M | 17.31M | 27.27M |
| Other operating expenses | 58.18M | 69.52M | 67.24M | 29.50M | 11.99M |
| Interest expense | 77.90M | 79.88M | 61.21M | 25.70M | 9.83M |
| Tax provision | 0.15M | 0.15M | 0.83M | 0.02M | 0.00M |
| Interest income | 205.76M | 221.40M | 160.51M | 80.66M | 35.02M |
| Net interest income | 132.54M | 146.82M | 99.31M | 54.96M | 25.19M |
| Income tax expense | 0.15M | 0.15M | 0.83M | 0.02M | 37.09M |
| Total revenue | 201.84M | 186.00M | 144.01M | 46.81M | 39.25M |
| Total operating expenses | 27.64M | -5.05M | 9.26M | 6.08M | 2.16M |
| Cost of revenue | 30.54M | 74.58M | 57.98M | 23.42M | 9.83M |
| Total other income expense net | -77.90M | -79.88M | -61.21M | -25.70M | -3.17M |
| Net income from continuing ops | 65.61M | 116.32M | 75.94M | 17.29M | 27.27M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total assets | 2054.47M | 2143.72M | 1730.86M | 1253.96M | 820.92M |
| Other current assets | 54.45M | 0.05M | 0.01M | 0.04M | 0.06M |
| Total liab | 1179.29M | 1173.40M | 982.98M | 729.00M | 446.87M |
| Total stockholder equity | 875.18M | 970.32M | 747.88M | 524.96M | 374.05M |
| Other current liab | -41.47M | -61.06M | 3.73M | -725.55M | -442.75M |
| Common stock | 0.49M | 0.53M | 0.41M | 0.29M | 0.19M |
| Capital stock | 0.49M | 0.53M | 0.41M | 0.29M | 0.19M |
| Retained earnings | -55.71M | -26.50M | -29.25M | -23.93M | 3.43M |
| Other assets | 2032.19M | 1.12M | -3461.72M | -2507.88M | -1639.07M |
| Cash | 8.55M | 43.25M | 67.39M | 39.27M | 35.19M |
| Total current liabilities | - | 61.06M | 35.31M | 25.78M | 36.38M |
| Net debt | 1106.50M | 1065.01M | 876.54M | 660.50M | 371.18M |
| Short term debt | - | - | 943.94M | 699.77M | 406.37M |
| Short long term debt total | 1115.05M | 1108.26M | 943.94M | 699.77M | 406.37M |
| Other stockholder equity | 930.39M | 996.29M | 776.72M | 548.60M | 370.43M |
| Total current assets | 76.73M | 62.30M | 89.00M | 53.53M | 47.86M |
| Long term investments | 1977.41M | 2081.38M | 1641.69M | 1200.38M | 773.01M |
| Short term investments | - | - | 0.05M | - | - |
| Net receivables | 13.73M | 19.00M | 21.59M | 14.22M | 12.61M |
| Inventory | - | - | -0.01M | - | - |
| Accounts payable | 41.47M | 61.06M | 35.31M | 25.78M | 36.38M |
| Accumulated other comprehensive income | - | - | 747.88M | 524.96M | 374.05M |
| Non currrent assets other | 0.33M | 2081.43M | 1641.86M | 1200.43M | 773.06M |
| Non current assets total | 1977.74M | 2081.43M | 1641.86M | 1200.43M | 773.06M |
| Breakdown | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Type | yearly | yearly | yearly | yearly | yearly |
| Date | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
| Total cashflows from investing activities | 105.46M | -433.62M | -442.57M | -452.99M | -429.62M |
| Net borrowings | -1.39M | 163.05M | 246.43M | 295.40M | 217.87M |
| Total cash from financing activities | -174.98M | 273.06M | 397.65M | 431.93M | 411.70M |
| Net income | 65.61M | 116.32M | 75.94M | 17.29M | 27.27M |
| Change in cash | 19.18M | -24.14M | 28.12M | 4.13M | 22.58M |
| Begin period cash flow | 43.30M | 67.44M | 39.32M | 35.19M | 12.61M |
| End period cash flow | 62.48M | 43.30M | 67.44M | 39.32M | 35.19M |
| Total cash from operating activities | 194.16M | 136.42M | 73.05M | 25.14M | 41.32M |
| Issuance of capital stock | 0.00M | 241.66M | 218.90M | 174.59M | 209.21M |
| Depreciation | - | -10.97M | - | - | - |
| Other cashflows from investing activities | - | - | 146.43M | - | - |
| Dividends paid | 102.25M | 95.23M | 63.19M | 34.66M | 14.71M |
| Change to account receivables | 4.75M | 2.60M | -7.83M | -1.16M | -6.18M |
| Sale purchase of stock | -65.75M | -33.53M | 0.00M | 0.00M | - |
| Other cashflows from financing activities | -5.59M | -2.89M | -4.48M | -3.40M | -0.66M |
| Capital expenditures | 0.00M | 0.00M | 0.00M | 0.00M | 0.00M |
| Change in working capital | 10.80M | 22.01M | -6.35M | -19.09M | 20.55M |
| Other non cash items | 117.74M | -1.91M | 3.46M | 26.95M | -6.50M |
| Free cash flow | 194.16M | 136.42M | 73.05M | 25.14M | 41.32M |
Sector: Financial Services Industry: Asset Management
|
Stock Name
|
Change
(USD) |
Price
(USD) |
Trailing
PE (x) |
Forward
PE (x) |
Price Sales
TTM (x) |
Price to Book Value (x)
|
Enterprise Value
to Revenue (x) |
|---|---|---|---|---|---|---|---|
| NCDL Nuveen Churchill Direct Lending Corp. |
0.11 0.93% |
11.92 | 13.02 | 7.93 | 10.16 | 0.71 | 28.47 |
| BLK BlackRock Inc |
- -% |
1214.71 | 26.25 | 19.57 | 6.33 | 2.90 | 6.35 |
| BX Blackstone Group Inc |
4.55 3.81% |
124.05 | 33.20 | 20.12 | 11.05 | 11.56 | 9.14 |
| IVSBF Investor AB ser. B |
-1.61 3.64% |
42.50 | 4.67 | 3.83 | 3.78 | 1.13 | 4.15 |
| KKR KKR & Co. Inc. |
1.61 1.67% |
98.09 | 32.68 | 13.66 | 3.58 | 3.22 | 0.68 |
Nuveen Churchill Direct Lending Corp. (the "Company") is business development company and was formed on March 13, 2018, as a limited liability company under the laws of the State of Delaware and was converted into a Maryland corporation on June 18, 2019 prior to the commencement of operations. The Company is a closed-end, externally managed, non-diversified management investment company that has elected to be regulated as a business development company ("BDC") under the Investment Company Act of 1940, as amended (the "1940 Act"). The Company's investment objective is to generate attractive risk-adjusted returns primarily through current income by investing primarily in senior secured loans to private equity-owned U.S. middle market companies, which the Company defines as companies with approximately $10.0 million to $100.0 million of earnings before interest, taxes, depreciation and amortization ("EBITDA"). The Company will focus on privately originated debt to performing U.S. middle market companies, with a portfolio expected to comprise primarily of first-lien senior secured debt and unitranche loans (other than last-out positions in unitranche loans) (collectively "Senior Loans"). The Company will also opportunistically invest in junior capital opportunities (second-lien loans, subordinated debt, last-out positions in unitranche loans and equity-related securities) (collectively "Junior Capital Investments").
375 Park Avenue, New York, NY, United States, 10152
212 478 9200
| Name | Title | Year Born |
|---|---|---|
| Mr. Kenneth John Kencel J.D. | CEO, President & Chairman | 1959 |
| Mr. William Thomas Huffman CPA | Chief Executive Officer | 1970 |
| Mr. Shaul Nmn Vichness C.F.A. | CFO & Treasurer | 1983 |
| Ms. Marissa Hassen | Chief Accounting Officer & Controller | 1984 |
| Ms. Emily Manuel | MD, Investor Relations & Senior Lending | NA |
| Ms. Charmagne Beth Kukulka | Chief Compliance Officer | 1990 |
| Ms. Jessica K. Tannenbaum | MD and Head of Marketing & Communications | NA |
| Ms. Megan Vogel | Director of Human Resources | NA |
| Mr. Jason W. Strife | Head of Junior Capital & Private Equity Solutions | NA |
| Mr. Marc Gonyea CFA | Managing Director of Business Development | NA |
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