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Nuveen Churchill Direct Valuation Multiples

Discover revenue and EBITDA valuation multiples for Nuveen Churchill Direct and similar public comparables like ECN Capital, Grenke, Heartland Group, Velocity Financial and more.

Nuveen Churchill Direct Overview

About Nuveen Churchill Direct

Nuveen Churchill Direct Lending Corp is a specialty finance company focused predominantly on investing in senior secured loans to private equity-owned U.S. middle market companies. It invest in senior secured loans that typically pay floating interest rates and are senior in the capital structure to junior debt and equity.


Founded

2018

HQ

United States

Employees

0

Financials (LTM)

Revenue: $200M
Net Income: $67M

EV

$2B

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Nuveen Churchill Direct Financials

Nuveen Churchill Direct reported last 12-month revenue of $200M.

In the same LTM period, Nuveen Churchill Direct generated $67M in net income.

Revenue (LTM)


Nuveen Churchill Direct P&L

In the most recent fiscal year, Nuveen Churchill Direct reported revenue of $208M and net income of $66M.

Nuveen Churchill Direct is profitable as of last fiscal year, with net margin of 32%.

See analyst estimates for Nuveen Churchill Direct
LTMLast FY202320242025202620272028
Revenue$200M$208M$83M$111M$77M
Net Profit$67M$66M$76M$116M$66M
Net Margin34%32%92%104%86%
Net Debt$1B

Financial data powered by Morningstar, Inc.

Nuveen Churchill Direct Stock Performance

Nuveen Churchill Direct has current market cap of $636M, and enterprise value of $2B.

Market Cap Evolution


Nuveen Churchill Direct's stock price is $12.88.

Nuveen Churchill Direct share price decreased by 12.0% in the last 30 days, and by 20.7% in the last year.

Nuveen Churchill Direct has an EPS (earnings per share) of $1.33.

See more trading valuation data for Nuveen Churchill Direct
EVMarket CapPrice 1DPrice 1MPrice 3MPrice 12MEPS
$2B$636M-0.8%-12.0%0.1%-20.7%$1.33

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Nuveen Churchill Direct Valuation Multiples

Nuveen Churchill Direct trades at 8.9x EV/Revenue multiple.

See NTM and 2027E valuation multiples for Nuveen Churchill Direct

EV / Revenue (LTM)


Nuveen Churchill Direct Financial Valuation Multiples

As of May 23, 2026, Nuveen Churchill Direct has market cap of $636M and EV of $2B.

Nuveen Churchill Direct has a P/E ratio of 9.5x.

LTMLast FY202320242025202620272028
EV/Revenue8.9x8.5x21.4x15.9x23.2x
P/E9.5x9.7x8.4x5.5x9.7x
EV/FCF9.1x(4.8x)(6.0x)9.1x

Multiples above and below 250x are considered non-meaningful (n/m). Valuation data powered by FactSet, Inc. and Morningstar, Inc.

Verified Nuveen Churchill Direct Valuation Multiples

Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.

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Nuveen Churchill Direct Margins & Growth Rates

Nuveen Churchill Direct decreased revenue by 10% but net profit grew by 6% in the last fiscal year.

In the most recent fiscal year, Nuveen Churchill Direct reported net margin of 32%.

See estimated margins and future growth rates for Nuveen Churchill Direct

Nuveen Churchill Direct Margins

Last FY202420252026202720282029
EBIT Margin41%
Net Margin32%104%86%37%
FCF Margin93%(267%)253%

Nuveen Churchill Direct Growth Rates

FY+1/FY23/2424/2525/2626/2727/2828/29
Revenue Growth(10%)35%(31%)144%
Net Profit Growth6%53%(44%)6%
FCF Growth(20%)(165%)

Data powered by FactSet, Inc. and Morningstar, Inc.

Nuveen Churchill Direct Operational KPIs

Access forward-looking KPIs for Nuveen Churchill Direct
LTMLast FY202320242025202620272028
G&A Expenses to Revenue4%4%7%6%11%
Opex to Revenue56%55%7%(5%)14%

Data powered by FactSet, Inc. and Morningstar, Inc.

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Nuveen Churchill Direct Competitors

Nuveen Churchill Direct competitors include ECN Capital, Grenke, Heartland Group, Velocity Financial, Menif Financial Services, PRA Group, Credit Corp, BFF Bank, Jana Small Finance Bank and Commercial Facilities Kuwait.

Most Nuveen Churchill Direct public comparables operate across Specialty Finance.

EV/RevenueEV/EBITDA
Last FYLTM2027ELast FYLTM2027E
ECN Capital
Grenke4.8x6.8x38.6x38.1x
Heartland Group5.3x4.9x28.0x28.0x
Velocity Financial21.5x25.9x
Menif Financial Services8.7x18.9x
PRA Group3.4x3.4x16.2x13.6x
Credit Corp2.4x2.0x6.6x6.2x
BFF Bank1.7x1.7x

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Nuveen Churchill Direct Funding History

Before going public, Nuveen Churchill Direct raised $425M in total equity funding, across 1 round.


Nuveen Churchill Direct Funding Rounds

DateStageRaised FromRaisedValuationRev. MultipleDeal Summary
May-24Secondary - privateWhitehorse Liquidity Partners$425M

Nuveen Churchill Direct Investment Activity

Nuveen Churchill Direct has invested in 1 company to date.

Latest investment by Nuveen Churchill Direct was on September 27th 2022. Nuveen Churchill Direct invested in Proto Axiom in their $10M Series A round (EV/Revenue multiple of ).

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Latest Investments by Nuveen Churchill Direct

Proto Axiom
Description
Proto Axiom is a Brisbane-based preclinical services provider supporting drug development and medical device testing in Australia. The company offers bioanalytical assays, toxicology studies, and formulation services to retain intellectual property onshore for local biotech firms.
HQ CountryAustralia
HQ City
Sydney
Deal Date27 Sep 2022
RoundSeries A
Raised$10M
InvestorsBenny Kleist; Catalio Capital Management; Nuveen Churchill Direct; Riverlane Capital
Valuation$90M
EV/Revenue
EV/EBITDA

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About Nuveen Churchill Direct

When was Nuveen Churchill Direct founded?Nuveen Churchill Direct was founded in 2018.
Where is Nuveen Churchill Direct headquartered?Nuveen Churchill Direct is headquartered in United States.
How many employees does Nuveen Churchill Direct have?As of today, Nuveen Churchill Direct has over 0 employees.
Who is the CEO of Nuveen Churchill Direct?Nuveen Churchill Direct's CEO is Kenneth J. Kencel.
Is Nuveen Churchill Direct publicly listed?Yes, Nuveen Churchill Direct is a public company listed on NYSE.
What is the stock symbol of Nuveen Churchill Direct?Nuveen Churchill Direct trades under NCDL ticker.
When did Nuveen Churchill Direct go public?Nuveen Churchill Direct went public in 2024.
Who are competitors of Nuveen Churchill Direct?Nuveen Churchill Direct main competitors include ECN Capital, Grenke, Heartland Group, Velocity Financial, Menif Financial Services, PRA Group, Credit Corp, BFF Bank, Jana Small Finance Bank, Commercial Facilities Kuwait.
What is the current market cap of Nuveen Churchill Direct?Nuveen Churchill Direct's current market cap is $636M.
What is the current revenue of Nuveen Churchill Direct?Nuveen Churchill Direct's last 12 months revenue is $200M.
What is the current revenue growth of Nuveen Churchill Direct?Nuveen Churchill Direct revenue growth (NTM/LTM) is (7%).
What is the current EV/Revenue multiple of Nuveen Churchill Direct?Current revenue multiple of Nuveen Churchill Direct is 8.9x.
Is Nuveen Churchill Direct profitable?Yes, Nuveen Churchill Direct is net-income-positive (as of the last 12 months).
What is the current net income of Nuveen Churchill Direct?Nuveen Churchill Direct's last 12 months net income is $67M.
How many companies Nuveen Churchill Direct has acquired to date?Nuveen Churchill Direct hasn't acquired any companies yet (or none have been disclosed publicly).
In how many companies Nuveen Churchill Direct has invested to date?As of May 2026, Nuveen Churchill Direct has invested in 1 company.
What was the last Nuveen Churchill Direct investment?On 27th September 2022 Nuveen Churchill Direct invested in Proto Axiom, participating in a $10M Series A round at $90M valuation, alongside Benny Kleist, Catalio Capital Management, and Riverlane Capital.
In what companies Nuveen Churchill Direct invested in?Nuveen Churchill Direct invested in Proto Axiom.

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