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NUVEEN CHURCHILL DIRECT LEND (NCDL) Stock Fundamental Analysis

NYSE:NCDL - New York Stock Exchange, Inc. - US67090S1087 - Common Stock - Currency: USD

15.45  +0.09 (+0.59%)

After market: 15.45 0 (0%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to NCDL. NCDL was compared to 229 industry peers in the Capital Markets industry. There are concerns on the financial health of NCDL while its profitability can be described as average. NCDL is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year NCDL was profitable.
NCDL had a negative operating cash flow in the past year.
NCDL had positive earnings in each of the past 5 years.
In the past 5 years NCDL always reported negative operating cash flow.
NCDL Yearly Net Income VS EBIT VS OCF VS FCFNCDL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M -300M -400M

1.2 Ratios

NCDL has a Return On Assets of 4.66%. This is in the better half of the industry: NCDL outperforms 64.63% of its industry peers.
NCDL has a Return On Equity (11.01%) which is comparable to the rest of the industry.
NCDL's Return On Invested Capital of 4.52% is fine compared to the rest of the industry. NCDL outperforms 61.14% of its industry peers.
NCDL had an Average Return On Invested Capital over the past 3 years of 3.88%. This is below the industry average of 7.23%.
The 3 year average ROIC (3.88%) for NCDL is below the current ROIC(4.52%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 4.66%
ROE 11.01%
ROIC 4.52%
ROA(3y)3.73%
ROA(5y)3.02%
ROE(3y)8.48%
ROE(5y)6.82%
ROIC(3y)3.88%
ROIC(5y)3.04%
NCDL Yearly ROA, ROE, ROICNCDL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2018 2019 2020 2021 2022 2023 2024 2 4 6 8 10

1.3 Margins

The Profit Margin of NCDL (44.83%) is better than 83.84% of its industry peers.
NCDL's Profit Margin has improved in the last couple of years.
Looking at the Operating Margin, with a value of 53.62%, NCDL belongs to the top of the industry, outperforming 93.01% of the companies in the same industry.
NCDL's Operating Margin has improved in the last couple of years.
Looking at the Gross Margin, with a value of 49.99%, NCDL is in line with its industry, outperforming 57.21% of the companies in the same industry.
NCDL's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 53.62%
PM (TTM) 44.83%
GM 49.99%
OM growth 3Y-2.41%
OM growth 5Y4.58%
PM growth 3Y-11.59%
PM growth 5Y1.87%
GM growth 3Y-7.32%
GM growth 5Y0.38%
NCDL Yearly Profit, Operating, Gross MarginsNCDL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2018 2019 2020 2021 2022 2023 2024 20 40 60

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3

2. Health

2.1 Basic Checks

NCDL has less shares outstanding than it did 1 year ago.
Compared to 5 years ago, NCDL has less shares outstanding
The debt/assets ratio for NCDL has been reduced compared to a year ago.
NCDL Yearly Shares OutstandingNCDL Yearly Shares OutstandingYearly Shares Outstanding 2019 2020 2021 2022 2023 2024 10M 20M 30M 40M 50M
NCDL Yearly Total Debt VS Total AssetsNCDL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

2.2 Solvency

NCDL has an Altman-Z score of 0.65. This is a bad value and indicates that NCDL is not financially healthy and even has some risk of bankruptcy.
NCDL has a Altman-Z score of 0.65. This is in the lower half of the industry: NCDL underperforms 60.26% of its industry peers.
A Debt/Equity ratio of 1.30 is on the high side and indicates that NCDL has dependencies on debt financing.
NCDL has a worse Debt to Equity ratio (1.30) than 63.76% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.3
Debt/FCF N/A
Altman-Z 0.65
ROIC/WACCN/A
WACCN/A
NCDL Yearly LT Debt VS Equity VS FCFNCDL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2018 2019 2020 2021 2022 2023 2024 0 500M 1B

2.3 Liquidity

A Current Ratio of 1.25 indicates that NCDL should not have too much problems paying its short term obligations.
NCDL has a Current ratio (1.25) which is comparable to the rest of the industry.
NCDL has a Quick Ratio of 1.25. This is a normal value and indicates that NCDL is financially healthy and should not expect problems in meeting its short term obligations.
NCDL's Quick ratio of 1.25 is in line compared to the rest of the industry. NCDL outperforms 57.21% of its industry peers.
Industry RankSector Rank
Current Ratio 1.25
Quick Ratio 1.25
NCDL Yearly Current Assets VS Current LiabilitesNCDL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2019 2020 2021 2022 2023 2024 20M 40M 60M

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5

3. Growth

3.1 Past

NCDL shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 8.45%, which is quite good.
The Earnings Per Share has been growing by 75.26% on average over the past years. This is a very strong growth
The Revenue has grown by 26.00% in the past year. This is a very strong growth!
NCDL shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 70.84% yearly.
EPS 1Y (TTM)8.45%
EPS 3Y62.6%
EPS 5Y75.26%
EPS Q2Q%-5.36%
Revenue 1Y (TTM)26%
Revenue growth 3Y83.45%
Revenue growth 5Y70.84%
Sales Q2Q%3.87%

3.2 Future

NCDL is expected to show a decrease in Earnings Per Share. In the coming years, the EPS will decrease by -7.21% yearly.
The Revenue is expected to decrease by -1.67% on average over the next years.
EPS Next Y-10.86%
EPS Next 2Y-9.45%
EPS Next 3Y-7.21%
EPS Next 5YN/A
Revenue Next Year-1.38%
Revenue Next 2Y-1.12%
Revenue Next 3Y-1.67%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is decreasing: in the next years the growth will be less than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
NCDL Yearly Revenue VS EstimatesNCDL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 50M 100M 150M 200M
NCDL Yearly EPS VS EstimatesNCDL Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 0.5 1 1.5 2

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5

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 6.93, the valuation of NCDL can be described as very cheap.
Compared to the rest of the industry, the Price/Earnings ratio of NCDL indicates a rather cheap valuation: NCDL is cheaper than 87.34% of the companies listed in the same industry.
When comparing the Price/Earnings ratio of NCDL to the average of the S&P500 Index (24.85), we can say NCDL is valued rather cheaply.
A Price/Forward Earnings ratio of 8.34 indicates a reasonable valuation of NCDL.
Based on the Price/Forward Earnings ratio, NCDL is valued cheaply inside the industry as 81.22% of the companies are valued more expensively.
NCDL's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 20.89.
Industry RankSector Rank
PE 6.93
Fwd PE 8.34
NCDL Price Earnings VS Forward Price EarningsNCDL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
NCDL Per share dataNCDL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10 15

4.3 Compensation for Growth

The decent profitability rating of NCDL may justify a higher PE ratio.
A cheap valuation may be justified as NCDL's earnings are expected to decrease with -7.21% in the coming years.
PEG (NY)N/A
PEG (5Y)0.09
EPS Next 2Y-9.45%
EPS Next 3Y-7.21%

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4

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 14.24%, NCDL is a good candidate for dividend investing.
NCDL's Dividend Yield is rather good when compared to the industry average which is at 8.35. NCDL pays more dividend than 88.65% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.40, NCDL pays a better dividend.
Industry RankSector Rank
Dividend Yield 14.24%

5.2 History

NCDL is new to the dividend game and has less than 3 years of track record.
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
NCDL Yearly Dividends per shareNCDL Yearly Dividends per shareYearly Dividends per share 2024 2025 0.5 1 1.5 2

5.3 Sustainability

DPN/A
EPS Next 2Y-9.45%
EPS Next 3Y-7.21%
NCDL Yearly Income VS Free CF VS DividendNCDL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2018 2019 2020 2021 2022 2023 2024 0 100M -100M -200M -300M -400M

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NUVEEN CHURCHILL DIRECT LEND

NYSE:NCDL (5/14/2025, 8:04:01 PM)

After market: 15.45 0 (0%)

15.45

+0.09 (+0.59%)

Chartmill FA Rating
GICS SectorFinancials
GICS IndustryGroupFinancial Services
GICS IndustryCapital Markets
Earnings (Last)05-08 2025-05-08/bmo
Earnings (Next)08-05 2025-08-05/bmo
Inst Owners39.47%
Inst Owner Change0.91%
Ins Owners0.53%
Ins Owner Change0%
Market Cap791.35M
Analysts78.33
Price Target17.68 (14.43%)
Short Float %0.54%
Short Ratio0.89
Dividend
Industry RankSector Rank
Dividend Yield 14.24%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-Date06-30 2025-06-30 (0.45)
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-7.66%
Min EPS beat(2)-7.76%
Max EPS beat(2)-7.56%
EPS beat(4)0
Avg EPS beat(4)-5.23%
Min EPS beat(4)-7.76%
Max EPS beat(4)-2.8%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-9.31%
Min Revenue beat(2)-12.42%
Max Revenue beat(2)-6.19%
Revenue beat(4)1
Avg Revenue beat(4)-4.75%
Min Revenue beat(4)-12.42%
Max Revenue beat(4)0.45%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-4.37%
PT rev (3m)-4.59%
EPS NQ rev (1m)0.3%
EPS NQ rev (3m)-4.79%
EPS NY rev (1m)0%
EPS NY rev (3m)-2.55%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-6.21%
Revenue NY rev (1m)-0.61%
Revenue NY rev (3m)-5.53%
Valuation
Industry RankSector Rank
PE 6.93
Fwd PE 8.34
P/S 3.5
P/FCF N/A
P/OCF N/A
P/B 0.86
P/tB 0.86
EV/EBITDA N/A
EPS(TTM)2.23
EY14.43%
EPS(NY)1.85
Fwd EY11.99%
FCF(TTM)-4.07
FCFYN/A
OCF(TTM)-4.07
OCFYN/A
SpS4.41
BVpS17.96
TBVpS17.96
PEG (NY)N/A
PEG (5Y)0.09
Profitability
Industry RankSector Rank
ROA 4.66%
ROE 11.01%
ROCE 5.72%
ROIC 4.52%
ROICexc 4.62%
ROICexgc 4.64%
OM 53.62%
PM (TTM) 44.83%
GM 49.99%
FCFM N/A
ROA(3y)3.73%
ROA(5y)3.02%
ROE(3y)8.48%
ROE(5y)6.82%
ROIC(3y)3.88%
ROIC(5y)3.04%
ROICexc(3y)4.01%
ROICexc(5y)3.14%
ROICexgc(3y)4.01%
ROICexgc(5y)3.14%
ROCE(3y)4.92%
ROCE(5y)3.85%
ROICexcg growth 3Y28.07%
ROICexcg growth 5Y10.13%
ROICexc growth 3Y28.07%
ROICexc growth 5Y10.13%
OM growth 3Y-2.41%
OM growth 5Y4.58%
PM growth 3Y-11.59%
PM growth 5Y1.87%
GM growth 3Y-7.32%
GM growth 5Y0.38%
F-Score4
Asset Turnover0.1
Health
Industry RankSector Rank
Debt/Equity 1.3
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 1.53
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.25
Quick Ratio 1.25
Altman-Z 0.65
F-Score4
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)8.45%
EPS 3Y62.6%
EPS 5Y75.26%
EPS Q2Q%-5.36%
EPS Next Y-10.86%
EPS Next 2Y-9.45%
EPS Next 3Y-7.21%
EPS Next 5YN/A
Revenue 1Y (TTM)26%
Revenue growth 3Y83.45%
Revenue growth 5Y70.84%
Sales Q2Q%3.87%
Revenue Next Year-1.38%
Revenue Next 2Y-1.12%
Revenue Next 3Y-1.67%
Revenue Next 5YN/A
EBIT growth 1Y24.4%
EBIT growth 3Y79.02%
EBIT growth 5Y78.66%
EBIT Next YearN/A
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y47.82%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y47.82%
OCF growth 3YN/A
OCF growth 5YN/A