Kayne Anderson BDC (KBDC) 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 8, 2026.
Summary
Kayne Anderson BDC (KBDC) has outperformed Nuveen Churchill Direct Lending (NCDL) over the past year, losing 7.8% versus a loss of 21.6%. Kayne Anderson BDC is the larger company by market cap ($826.1 million vs $537.8 million), about 1.5 times the size. On valuation, Nuveen Churchill Direct Lending trades at a lower forward P/E (7.1x vs 7.9x for Kayne Anderson BDC).
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 | KBDC | NCDL |
|---|---|---|
| Share price | $12.51 | $10.89 |
| Market cap | $826.13M | $537.83M |
| 1-day change | +0.89% | +1.87% |
| YTD return | -12.64% | -19.87% |
| 1-year return | -7.81% | -21.57% |
| P/E ratio (TTM) | 11.48 | 11.46 |
| Forward P/E | 7.94 | 7.09 |
| EPS (TTM) | $1.09 | $0.95 |
| Dividend yield | 12.90% | 14.22% |
| Annual dividend | $0.00 | $0.00 |
| 52-week high | $15.87 | $15.07 |
| 52-week low | $12.32 | $10.54 |
| Distance from 52-week high | -21.17% | -27.74% |
| Analyst consensus | none | none |
| Avg. price target upside | +15.91% | +25.80% |
| Average volume | 369.18K | 197.03K |
| Shares outstanding | 66.04M | 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
- KBDC has outperformed NCDL by 13.8 percentage points over the past year.
- Nuveen Churchill Direct Lending offers a meaningfully higher dividend yield (14.22% vs 12.90%).
About Kayne Anderson BDC
KBDC stock →Kayne Anderson BDC, Inc. is business development company and an externally managed, closed-end, non-diversified management investment company that intends to elect to be regulated as a BDC under the 1940 Act.
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
KBDC vs NCDL FAQ
Which is bigger, Kayne Anderson BDC or Nuveen Churchill Direct Lending?
Kayne Anderson BDC (KBDC) is larger, with a market capitalization of $826.13M compared with $537.83M for Nuveen Churchill Direct Lending (NCDL).
Which stock has performed better over the past year, KBDC or NCDL?
KBDC returned -7.81% over the past 12 months, compared with -21.57% for NCDL (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, KBDC or NCDL?
NCDL has the lower trailing P/E at 11.5, versus 11.5 for KBDC. 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, Kayne Anderson BDC or Nuveen Churchill Direct Lending?
Nuveen Churchill Direct Lending has the higher yield at 14.22%, compared with 12.90% for Kayne Anderson BDC.
Are Kayne Anderson BDC and Nuveen Churchill Direct Lending in the same industry?
Yes. Both are classified in the Asset Management industry within the Financial Services sector.