Nuveen Churchill Direct Lending Corp. (NCDL) P/E Ratio History
Premium ValuationTrading at 10.0x vs 5Y avg 8.2x · 89th percentile · Premium to historical baseline · Data 2024–2026
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P/E Ratio Analysis
As of June 30, 2026, Nuveen Churchill Direct Lending Corp. (NCDL) trades at a price-to-earnings ratio of 10.0x, with a stock price of $13.00 and trailing twelve-month earnings per share of $1.20.
The current P/E is 22% above its 5-year average of 8.2x. Over the past five years, NCDL's P/E has ranged from a low of 7.5x to a high of 10.6x, placing the current valuation at the 89th percentile of its historical range.
Compared to the Financial Services sector median P/E of 14.1x, NCDL trades at a 29% discount to its sector peers. The sector includes 801 companies with P/E ratios ranging from 0.0x to 162.0x.
The PEG ratio of 0.40 (P/E divided by -40% EPS growth) suggests the stock may be undervalued relative to its earnings growth. Peter Lynch popularized the rule that a PEG below 1.0 indicates an attractive entry point.
Relative to the broader market, NCDL trades at a notable discount to the S&P 500 median P/E of 25.1x. Investors should consider the company's growth prospects, competitive position, and earnings quality when evaluating whether the current valuation is justified.
For a comprehensive intrinsic value estimate using discounted cash flow analysis, see our NCDL DCF Valuation Calculator →
Note: P/E ratio is just one valuation metric. It does not account for balance sheet strength, cash flow quality, or growth sustainability. Always conduct comprehensive due diligence before making investment decisions.
NCDL Cross-Benchmark Valuation
How does the current P/E compare to sector peers and the broader market?
NCDL P/E vs Peers
Private credit and BDC lenders peers sorted by market cap
| Company | Market Cap | P/E Ratio | PEG Ratio | EPS Growth (1Y) |
|---|---|---|---|---|
| $13B | 10.0 | 0.97 | -24% | |
| $997M | 6.5 | - | -20% | |
| $3B | 9.0 | 0.29 | +4% | |
| $6B | 9.0 | 2.05 | -19% | |
| $196M | 4.0Lowest | 3.91 | +49%Best | |
| $755M | 10.8 | 0.16Best | -36% | |
| $3B | 270.0 | - | -98% | |
| $928M | 14.8 | - | -46% | |
| $742M | 10.4 | 1.17 | -49% | |
| $680M | 7.3 | 0.21 | -3% |
Lower P/E can signal a discount or weaker growth expectations; PEG adds growth context.
NCDL Historical P/E Data (2024–2026)
Quarterly P/E ratios calculated from closing price and TTM EPS
| Quarter | Period End | Price | TTM EPS | P/E Ratio | vs Avg |
|---|---|---|---|---|---|
| FY2026 Q1 | - | $12.72 | $1.20 | 10.6x | +29% |
| FY2025 Q4 | Dec 31 2025 | $13.34 | $1.55 | 8.6x | +5% |
| FY2025 Q3 | - | $13.80 | $1.77 | 7.8x | -5% |
| FY2025 Q2 | Jun 30 2025 | $16.19 | $2.06 | 7.9x | -4% |
| FY2025 Q1 | Mar 31 2025 | $16.98 | $2.11 | 8.0x | -2% |
| FY2024 Q4 | - | $16.78 | $2.15 | 7.8x | -5% |
| FY2024 Q3 | Sep 30 2024 | $17.42 | $2.31 | 7.5x | -8% |
| FY2024 Q2 | Jun 30 2024 | $17.40 | $2.22 | 7.8x | -5% |
| FY2024 Q1 | Mar 31 2024 | $18.06 | $2.32 | 7.8x | -5% |
Average P/E for displayed period: 8.2x
Intrinsic Valuation
DCF models, multiple analysis, and analyst estimates.
Historical Returns
2+ years return with dividends reinvested.
DCA Calculator
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Peer Comparison
Compare growth, multiples, and margins vs sector.
NCDL — Frequently Asked Questions
Quick answers to the most common questions about buying NCDL stock.
What is NCDL's P/E ratio?
Nuveen Churchill Direct Lending Corp. (NCDL) trailing twelve-month P/E ratio is 10.0x, based on TTM diluted EPS of $1.20. The 5-year average P/E is 8.2x and the historical range spans 7.5x to 10.6x.
Is NCDL stock overvalued or undervalued?
NCDL trades at 10.0x P/E, above its 5-year average of 8.2x. The 89th percentile ranking within the 7.5x–10.6x historical range indicates a premium to historical valuation.
Is NCDL stock expensive?
Yes, NCDL is expensive relative to its own history. The current P/E of 10.0x is above the 5-year average of 8.2x. The stock sits at the 89th percentile of its 5-year valuation range.
What is NCDL's historical P/E range?
Over the past 5 years, NCDL's P/E ratio has ranged from 7.5x to 10.6x, with a median of 7.8x and an average of 8.2x. The current P/E of 10.0x places the stock at the 89th percentile of this range. Full historical data spans 2024–2026.
How does NCDL's P/E compare to the S&P 500?
NCDL trades at 10.0x P/E versus the S&P 500 median of 25.1x. The 60% discount to the market suggests lower growth expectations or perceived higher risk.
How does NCDL's valuation compare to Financial Services peers?
Nuveen Churchill Direct Lending Corp. P/E of 10.0x compares to the Financial Services sector median of 14.1x. The discount suggests lower growth expectations, weaker margins, or higher perceived risk relative to peers. See the peer comparison table on this page for ticker-by-ticker P/E and PEG.
What is NCDL's PEG ratio?
NCDL PEG ratio is 0.40, based on a P/E of 10.0x and EPS growth of -39.5%. A PEG below 1.0 indicates the valuation is supported by the earnings growth rate — typically considered attractive.
What is NCDL's earnings yield?
NCDL earnings yield is 10.00%, the inverse of its 10.0x P/E ratio. Earnings yield represents the percentage of each dollar invested that the company earns. It can be compared directly to bond yields to assess relative attractiveness of stocks versus fixed income.