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Nuveen Churchill Direct LendingNCDL +0.47%29 PB Ratio is 0.73 as of Jul. 15, 2026, which is 22% below its 10-year median of 0.93. GuruFocus rates NCDL with a GF Score™ of 29/100. The stock has 5 warning signs investors should review. Among 1,602 Asset Management companies, Nuveen Churchill Direct Lending ranks better than 77.65% on this metric.
Nuveen Churchill Direct Lending Corp stock PB Ratio (=0.73) is close to 3-year low of 0.7.
The historical rank and industry rank for Nuveen Churchill Direct Lending's PB Ratio or its related term are showing as below:
NCDL'
s PB Ratio Range Over the Past 10 Years
Min: 0.7 Med: 0.93 Max: 1.32
Current: 0.73
During the past 6 years, Nuveen Churchill Direct Lending's highest PB Ratio was 1.32. The lowest was 0.70. And the median was 0.93.
NCDL's PB Ratio is ranked better than 77.65% of 1602
companies
in the Asset Management industry
Industry Median: 0.96
vs NCDL: 0.73
During the past 12 months, Nuveen Churchill Direct Lending's average Book Value Per Share Growth Rate was -2.60% per year.
During the past 3 years, the average Book Value Per Share Growth Rate was 22.80% per year.
During the past 6 years, the highest 3-Year average Book Value Per Share Growth Rate of Nuveen Churchill Direct Lending was 38.60% per year. The lowest was 22.80% per year. And the median was 30.70% per year.
Back to Basics: PB Ratio
Nuveen Churchill Direct Lending (NYSE:NCDL) PB Ratio Explanation
The PB Ratio works the best for the businesses that earn most of their profit from their assets, e.g. banks and insurance companies.
Be Aware
Some businesses have very light assets, such as software companies or insurance agencies. The PB Ratio does not work well for these companies. Some companies even have negative equity, so the PB Ratio cannot be applied to them.
Nuveen Churchill Direct Lending PB Ratio Related Terms
Nuveen Churchill Direct Lending PB Ratio Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Asset Management subindustry, Nuveen Churchill Direct Lending's PB Ratio, along with its competitors' market caps and PB Ratio data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Nuveen Churchill Direct Lending PB Ratio vs Asset Management Industry
For the Asset Management industry and Financial Services sector, Nuveen Churchill Direct Lending's PB Ratio distribution charts can be found below:
* The bar in red indicates where Nuveen Churchill Direct Lending's PB Ratio falls into.
Nuveen Churchill Direct Lending PB Ratio Calculation
The PB Ratio, or Price-to-Book ratio, or Price/Book, is a financial ratio used to compare a company's market price to its Book Value per Share. It is a ratio widely used to value stocks.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
A closely related ratio is called Price-to-Tangible-Book. The difference between Price-to-Tangible-Book and PB Ratio is that book value other than intangibles are used in the calculation.
Nuveen Churchill Direct Lending (NCDL) has a PB Ratio of 0.73 as of Jul. 15, 2026. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Nuveen Churchill Direct Lending and its competitors. This is 22% below median its historical median of 0.93. Over the past decade, Nuveen Churchill Direct Lending's PB Ratio has ranged from 0.70 to 1.32. According to the industry distribution chart, Nuveen Churchill Direct Lending ranks #358 out of 1602 companies in the Asset Management industry, placing it in the top 22.3%.
Is Nuveen Churchill Direct Lending's PB Ratio too high?
Nuveen Churchill Direct Lending's current PB Ratio of 0.73 is 22% below median its 10-year median of 0.93. Over the past 10 years, this metric has ranged from a low of 0.70 to a high of 1.32. The Asset Management industry median PB Ratio is 0.96. Nuveen Churchill Direct Lending's value of 0.73 is 24% below this industry median. Based on the distribution chart, Nuveen Churchill Direct Lending ranks #358 out of 1602 companies in the Asset Management industry, which is in the top quartile — a strong position relative to peers. Overall, Nuveen Churchill Direct Lending has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does Nuveen Churchill Direct Lending's PB Ratio compare to PDT and HKHC?
According to the Asset Management industry distribution chart, Nuveen Churchill Direct Lending ranks #358 out of 1602 companies for PB Ratio. This places Nuveen Churchill Direct Lending in the top 22% of its industry — outperforming the majority of peers. The industry median PB Ratio is 0.96. Nuveen Churchill Direct Lending's value of 0.73 is 24% below this benchmark. Historically, Nuveen Churchill Direct Lending's own PB Ratio has ranged from 0.70 to 1.32 over the past decade. While the company's 10-year median is 0.93 vs. the industry median of 0.96, Nuveen Churchill Direct Lending has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PB Ratio for an Asset Management company?
The median PB Ratio among Asset Management companies is 0.96, based on 1,602 companies in the industry. Companies in the top quartile (top 25%) have a PB Ratio significantly above this median, while those in the bottom quartile fall well below. However, PB Ratio should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nuveen Churchill Direct Lending's current PB Ratio of 0.73 is 24% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PB Ratio mean?
A high PB Ratio can signal that a stock is expensive relative to its fundamentals. Price-to-Book ratio is the ratio of share price to a company's book value per share. View historical data on Nuveen Churchill Direct Lending and its competitors. For the Asset Management industry, the median PB Ratio is 0.96 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nuveen Churchill Direct Lending's current PB Ratio is 0.73, which is 22% below median its own 10-year median of 0.93. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nuveen Churchill Direct Lending stock overvalued right now?
Nuveen Churchill Direct Lending (NCDL) has a current PB Ratio of 0.73. The current PB Ratio is 0.73, which is 22% below median its 10-year median of 0.93 and 24% below the Asset Management industry median of 0.96. Nuveen Churchill Direct Lending's overall GF Score™ is 29/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PB Ratio calculated?
PB Ratio is calculated from a company's financial statements. For Nuveen Churchill Direct Lending (NCDL), the current PB Ratio is 0.73 as of Jul. 15, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Nuveen Churchill Direct Lending Business Description
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 is a closed-end, externally managed, non-diversified management investment company. The company's investment objective is to generate attractive risk-adjusted returns through current income by investing in senior secured loans to private equity-owned U.S. middle market companies. It invests in senior secured loans that typically pay floating interest rates and are senior in the capital structure to junior debt and equity.
29GF Score
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