What is NCDL's Value Score?

Nuveen Churchill Direct Lending Corp. (NCDL) has a StockPik Value Score of 75 out of 100 — a high score, indicating strong value characteristics across multiple metrics. The Value Score is a composite ranking built from P/E ratio, P/B ratio, Graham Number, ROE, gross margin, debt-to-equity, current ratio, and Piotroski F-Score, calculated from SEC EDGAR annual filing data.

What is NCDL's Piotroski F-Score?

Nuveen Churchill Direct Lending Corp. (NCDL) has a Piotroski F-Score of 4 out of 9 — a moderate score. The F-Score assesses nine binary financial criteria across profitability, leverage, and operating efficiency. A score of 7–9 indicates a financially improving company; a score of 0–3 is a warning sign.

Is NCDL trading below its Graham Number?

NCDL is currently trading below its Graham Number. The stock price of $13.28 is 49.7% below the Graham Number of $26.4, representing a margin of safety by Benjamin Graham's definition. The Graham Number is calculated as √(22.5 × EPS × Book Value Per Share) and represents Benjamin Graham's ceiling price for a defensive investor.

What is NCDL's Graham Number?

NCDL's Graham Number is $26.40, calculated using the Benjamin Graham formula √(22.5 × EPS × Book Value per Share). The Graham Number is an estimate of intrinsic value — the maximum price a defensive investor should pay. At the current price of $13.28, NCDL is trading 50% below its Graham Number.

What is NCDL's Piotroski F-Score?

NCDL's Piotroski F-Score is 4 out of 9, indicating moderate financial health. The Piotroski F-Score evaluates nine criteria across profitability, leverage, and operating efficiency. Scores of 7 or above are considered strong; 3 or below indicate financial weakness.

Is NCDL (Nuveen Churchill Direct Lending Corp.) undervalued?

NCDL scores 75/100 on StockPik's Value Score, placing it in undervalued territory. The stock trades 50% below its Graham Number of $26.40.

What is NCDL's P/E ratio?

NCDL's trailing P/E ratio is 7.6x — a low earnings multiple, suggesting the stock may be undervalued relative to its earnings.

Does Nuveen Churchill Direct Lending Corp. (NCDL) pay a dividend?

Yes, NCDL currently pays a dividend yield of 3.9%. View the full dividend and value analysis on StockPik.

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Nuveen Churchill Direct Lending Corp. (NCDL)

NYSE Small Cap

$13.28

Market Cap: $656M

Data as of Sep 30, 2025 (TTM)

Price History

Feb 9, 2026 — Apr 4, 2026

Investment Snapshot

Trading 50% below Graham Number ($26.40) — significant margin of safety
Piotroski F-Score 4/9 — moderate financial health
ROE of 9.9% — below-average profitability
Dividend yield of 3.9%

Nuveen Churchill Direct Lending Corp. (NCDL) is a publicly traded company, listed on the NYSE , with a market capitalisation of $656 million . Key value metrics: P/E ratio 7.6, P/B ratio 0.75, Piotroski F-Score 4 out of 9 (moderate financial health) .

Value Score

out of 100

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Key Metrics

P/E Ratio

7.60

P/B Ratio

0.75

EPS

$1.75

Div. Yield

3.9%

PEG Ratio

—

P/S Ratio

—

EV/EBITDA

—

ROE

—

ROA

—

Gross Margin

—

Op. Margin

—

Net Margin

—

Debt/Equity

—

Current Ratio

—

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Current vs 5-Year Average

Based on 4 years of SEC filings

Net Margin

—

↑ +2.1pp avg —

Gross Margin

—

↑ +2.1pp avg —

Operating Margin

—

↑ +2.1pp avg —

Return on Equity

—

↑ +2.1pp avg —

Debt / Equity

—

↑ +2.1pp avg —

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Revenue & Net Income

Profit Margins

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EPS & Free Cash Flow Per Share

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Financial Statements

Metric	FY22	FY23	FY24
Revenue	$X.XB	$X.XB	$X.XB
Gross Profit	$X.XB	$X.XB	$X.XB
Operating Income	$X.XB	$X.XB	$X.XB
Net Income	$X.XB	$X.XB	$X.XB
EBITDA	$X.XB	$X.XB	$X.XB
Total Assets	$X.XB	$X.XB	$X.XB
Total Liabilities	$X.XB	$X.XB	$X.XB

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Data sourced from SEC EDGAR and Polygon.io. Methodology.

Nuveen Churchill Direct Lending Corp. — Fundamental Analysis Summary

Nuveen Churchill Direct Lending Corp. (NCDL) is trading 50% below its Graham Number of $26.40 — a significant margin of safety by Benjamin Graham's standard. The stock carries a low trailing P/E ratio of 7.6x.

On financial health, NCDL shows a moderate Piotroski F-Score of 4/9, and modest return on equity of 9.9%, and elevated leverage with a debt-to-equity ratio of 1.27.

StockPik's composite Value Score for NCDL is 75/100 — placing it in undervalued territory. The score is built from ten fundamental signals: P/E, P/B, PEG ratio, P/S ratio, return on equity, gross margin, debt-to-equity, current ratio, dividend yield, and Piotroski F-Score.

NCDL shows earnings declining at 44%.

NCDL pays a solid dividend yield of 3.9%.

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How is the Value Score calculated?

Read our full methodology →

What is the margin of safety?

How to calculate the margin of safety using the Graham Number, and what counts as a good margin of safety →

NC — NACCO INDUSTRIES, INC.

NewcelX Ltd. - Ordinary Shares — NCEL