Gladstone Investment Business Development (GAIN) vs Nuveen Churchill Direct Lending (NCDL)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Gladstone Investment Business Development (GAIN) has outperformed Nuveen Churchill Direct Lending (NCDL) over the past year, gaining 12.9% versus a loss of 20.3%. On valuation, Nuveen Churchill Direct Lending trades at a lower forward P/E (7.1x vs 15.2x for Gladstone Investment Business Development). Gladstone Investment Business Development pays a dividend yielding 6.24%, while Nuveen Churchill Direct Lending does not currently pay one.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | GAIN | NCDL |
|---|---|---|
| Share price | $15.38 | $10.89 |
| Market cap | — | $537.83M |
| 1-day change | +0.59% | +1.87% |
| YTD return | +10.09% | -18.37% |
| 1-year return | +12.92% | -20.28% |
| 5-year return | +4.55% | — |
| P/E ratio (TTM) | 3.65 | 11.46 |
| Forward P/E | 15.15 | 7.09 |
| EPS (TTM) | $4.21 | $0.95 |
| Dividend yield | 6.24% | 14.22% |
| Annual dividend | $0.96 | $0.00 |
| 52-week high | $17.14 | $15.07 |
| 52-week low | $13.11 | $10.54 |
| Distance from 52-week high | -10.27% | -27.74% |
| Analyst consensus | none | none |
| Avg. price target upside | +10.53% | +25.80% |
| Average volume | 178.34K | 197.03K |
| Shares outstanding | — | 49.39M |
| Sector | Financial Services | Financial Services |
| Industry | Asset Management | Asset Management |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- GAIN has outperformed NCDL by 33.2 percentage points over the past year.
- Nuveen Churchill Direct Lending trades at a higher earnings multiple (11.5x vs 3.7x trailing P/E).
- Nuveen Churchill Direct Lending offers a meaningfully higher dividend yield (14.22% vs 6.24%).
About Gladstone Investment Business Development
GAIN stock →Gladstone Investment Corporation is business development company, specializes in lower middle market, mature stage, buyouts; refinancing existing debt; senior debt securities such as senior loans, senior term loans, lines of credit, and senior notes; senior subordinated debt securities such as senior subordinated loans and senior subordinated notes; junior subordinated debt securities such as subordinated notes and mezzanine loans; limited liability company interests, and warrants or options. The fund does not invest in start-ups.
Financial Services · Asset Management
About Nuveen Churchill Direct Lending
NCDL stock →Nuveen Churchill Direct Lending Corp. (the Company) is business development company and was formed on March 13, 2018, as a limited liability company under the laws of the State of Delaware and was converted into a Maryland corporation on June 18, 2019 prior to the commencement of operations.
Financial Services · Asset Management
GAIN vs NCDL FAQ
Which stock has performed better over the past year, GAIN or NCDL?
GAIN returned +12.92% over the past 12 months, compared with -20.28% for NCDL (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, GAIN or NCDL?
GAIN has the lower trailing P/E at 3.7, versus 11.5 for NCDL. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Gladstone Investment Business Development or Nuveen Churchill Direct Lending?
Nuveen Churchill Direct Lending has the higher yield at 14.22%, compared with 6.24% for Gladstone Investment Business Development.
Are Gladstone Investment Business Development and Nuveen Churchill Direct Lending in the same industry?
Yes. Both are classified in the Asset Management industry within the Financial Services sector.