Nuveen Churchill Direct Lending Corp. (NCDL) Earnings History
Elite Compounder8 years of earnings data (2018–2025) · 5-year EPS CAGR exceeds 18% — top-tier earnings quality
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Nuveen Churchill Direct Lending Corp. (NCDL) Earnings Overview
As of June 28, 2026, Nuveen Churchill Direct Lending Corp. (NCDL) reported trailing twelve-month net income of $59M, reflecting -39.5% year-over-year growth. The company earned $1.20 per diluted share over the past four quarters, with a net profit margin of 32.5%.
Looking at the long-term picture, NCDL's 5-year EPS compound annual growth rate (CAGR) stands at +24.8%, indicating exceptional earnings growth. The company achieved its highest annual net income of $116M in fiscal 2024.
Nuveen Churchill Direct Lending Corp. maintains industry-leading profitability with a gross margin of 84.9%, operating margin of 71.2%, and net margin of 32.5%. This margin structure demonstrates strong pricing power and operational efficiency. View revenue history →
Compared to peers including ARCC ($1.15B net income, 41.3% margin), FSCO (N/A net income, 72.6% margin), GBDC ($205M net income, 43.2% margin), NCDL has room to improve margins relative to the peer group. Compare NCDL vs ARCC →
NCDL Earnings vs Peers
Earnings metrics vs comparable public companies
NCDL Historical Earnings Data (2018–2025)
8 years| Fiscal Year | Net Income | YoY % | Operating Income | EPS (Diluted) | Net Margin | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $66M | -43.6% | $144M | $1.30 | 32.5% | 71.2% |
| 2024 | $116M | +53.2% | $116M | $2.15 | 62.5% | 62.6% |
| 2023 | $76M | +339.3% | $77M | $2.27 | 52.7% | 53.3% |
| 2022 | $17M | -36.6% | $17M | $0.74 | 36.9% | 37.0% |
| 2021 | $27M | +1171.1% | $27M | $2.12 | 69.5% | 69.5% |
| 2020 | $2M | -70.6% | $2M | $0.43 | 24.6% | 24.6% |
| 2019 | $7M | +407.7% | $17M | $1.79 | 45.9% | 108.6% |
| 2018 | $1M | - | $3M | $0.35 | 31.3% | 67.3% |
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NCDL — Frequently Asked Questions
Quick answers to the most common questions about buying NCDL stock.
What is NCDL earnings per share (EPS)?
NCDL trailing twelve-month (TTM) diluted EPS is $1.20, reflecting -39.5% year-over-year growth. The 5-year EPS CAGR is +24.8%. Complete EPS history from 2018 to 2025 is available in the table on this page.
What is Nuveen Churchill Direct Lending Corp.'s net income?
Nuveen Churchill Direct Lending Corp. (NCDL) trailing twelve-month net income is $59M as of 2025. Earnings declined -39.5% year-over-year. Nuveen Churchill Direct Lending Corp. has been profitable for 8 consecutive years.
Is NCDL profitable?
Yes, NCDL is profitable with a TTM net income of $59M and a net profit margin of +32.5%. Nuveen Churchill Direct Lending Corp. has generated profits for 8 consecutive years.
What is NCDL's earnings growth rate?
NCDL compound annual EPS growth rates (CAGR): 1-Year: -39.5%, 3-Year: +20.7%, 5-Year: +24.8%, 10-Year: N/A. These figures measure the annualised rate of diluted EPS growth over each period, based on data from 2018 to 2025.
What are NCDL's profit margins?
Nuveen Churchill Direct Lending Corp. net profit margin is +32.5%, operating margin is +71.2%, and gross margin is +84.9%. Above-average net margins reflect strong pricing power and competitive moat. Return on Equity is +7.1%.
Is NCDL growing earnings?
NCDL earnings are declining — EPS fell -39.5% year-over-year. TTM net income dropped to $59M. This contrasts with the 5-year CAGR of +24.8%.
What was NCDL's best earnings year?
Nuveen Churchill Direct Lending Corp.'s highest annual net income on record is $116M, achieved in fiscal year 2024. Earnings history on this page spans 2018 to 2025 and includes all annual and quarterly figures.
What were NCDL's earnings last quarter?
NCDL's most recent reported quarter was Q1 2026. Net income was $9M with diluted EPS of $0.18. For a full breakdown of all quarters, see the quarterly earnings table on this page.