Fundamental analysis NCDL (Nuveen Churchill Direct Lending Corp)

Updated on 06/08/2026

We analyzed Nuveen Churchill Direct Lending stock against the 10 quality criteria of Lubin Investment. The company gets a quality score of 7/10, meaning medium quality, and a P/FCF valuation multiple of 3.3×.

Sector: Asset Management. Listing: US. Current price: 12.77 USD.

Lubin scoring methodology

Nuveen Churchill Direct Lending Corp (NCDL)'s score is calculated automatically from 10 objective financial criteria, with no human intervention or opinion. Each criterion is validated (YES / PARTIAL / NO) based on thresholds drawn from the financial literature (Warren Buffett, Bettin-Mauboussin, Aswath Damodaran). The final score is the sum of validations.

The 10 quantitative criteria analyzed

1. Profitable: positive net margin
2. Growing revenue: revenue growing > 10%/year over 5 years
3. Growing earnings per share: FCF per share adjusted for stock-based compensation, > 10%/year over 5 years
4. Share count under control: stable or declining (net buybacks = value creation for shareholders)
5. Cash profitability: free cash flow margin > 10% of revenue
6. Expanding margins: operating margin widens over 5 years (operating leverage)
7. Return on invested capital: Bettin-Mauboussin Cash ROCE > 15% per year
8. Debt under control: net debt repayable in less than 3 years of free cash flow
9. Earnings converted to cash: free cash flow exceeds accounting net income
10. Net collection period: short or negative cash conversion cycle

Frequently asked questions

Is Nuveen Churchill Direct Lending a quality stock?

Nuveen Churchill Direct Lending gets a quality score of 7/10 (medium quality), calculated over the 10 Lubin Investment criteria: profitability, revenue and free cash flow growth, share buybacks, margins, debt and return on capital.

How is Nuveen Churchill Direct Lending's score calculated?

The score is the total of validated criteria (YES / PARTIAL / NO) using thresholds drawn from the financial literature (Warren Buffett, Mauboussin, Aswath Damodaran), automatically and with no human opinion.

What is Nuveen Churchill Direct Lending's P/FCF?

The price-to-free-cash-flow (P/FCF) multiple of Nuveen Churchill Direct Lending stock is 3.3×. At Lubin Investment, valuation is judged separately from quality.

Where to see Nuveen Churchill Direct Lending's full analysis?

The full interactive analysis (10-criteria detail, history, P/FCF valuation, sector comparisons) is available at https://lubin-investment.com/analyse/NCDL?lng=en.

Other stocks in the Asset Management sector

• Ameriprise Financial (AMP) — score 9/10, P/FCF 6.1×
• Hamilton Lane (HLNE) — score 9/10, P/FCF 12.1×
• Anima Holding (ANIM.MI) — score 9/10, P/FCF 5.6×
• Apollo Global Management (APO) — score 9/10, P/FCF 10.6×
• WisdomTree (WT) — score 9/10, P/FCF 21.0×

Go further

👉 See the full interactive analysis of NCDL

Other resources : Detailed methodology · All stocks in the Asset Management sector · Stocks rated 10 out of 10 · Top quality companies · Lubin Investment pricing.