Nuveen Churchill Direct Lending (NCDL) vs New Mountain Finance (NMFC)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 9, 2026.
Summary
Nuveen Churchill Direct Lending (NCDL) has outperformed New Mountain Finance (NMFC) over the past year, losing 20.3% versus a loss of 26.4%. New Mountain Finance is the larger company by market cap ($643.2 million vs $537.8 million), about 1.2 times the size. On valuation, New Mountain Finance trades at a lower forward P/E (6.5x vs 7.1x for Nuveen Churchill Direct Lending).
New Mountain Finance pays a dividend yielding 17.77%, 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 | NCDL | NMFC |
|---|---|---|
| Share price | $10.89 | $6.81 |
| Market cap | $537.83M | $643.22M |
| 1-day change | +1.87% | +1.04% |
| YTD return | -18.37% | -26.06% |
| 1-year return | -20.28% | -26.38% |
| 5-year return | — | -50.07% |
| P/E ratio (TTM) | 11.46 | — |
| Forward P/E | 7.09 | 6.49 |
| EPS (TTM) | $0.95 | $-0.48 |
| Dividend yield | 13.96% | 17.77% |
| Annual dividend | $0.00 | $1.21 |
| 52-week high | $15.07 | $9.84 |
| 52-week low | $10.54 | $6.69 |
| Distance from 52-week high | -27.74% | -30.79% |
| Analyst consensus | none | none |
| Avg. price target upside | +25.80% | +21.73% |
| Average volume | 197.03K | 522.85K |
| Shares outstanding | 49.39M | 94.45M |
| Sector | Financial Services | Finance |
| Industry | Asset Management | Finance/Investors Services |
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
- New Mountain Finance offers a meaningfully higher dividend yield (17.77% vs 13.96%).
- The two companies sit in different sectors: Nuveen Churchill Direct Lending in Financial Services and New Mountain Finance in Finance.
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
About New Mountain Finance
NMFC stock →New Mountain Finance Corporation (Nasdaq: NMFC), a business development company, is a private equity/buyouts and loan fund that specializes in directly investing and lending to middle market companies in defensive growth industries. The fund prefers investing in buyout and middle market companies.
Finance · Finance/Investors Services
NCDL vs NMFC FAQ
Which is bigger, Nuveen Churchill Direct Lending or New Mountain Finance?
New Mountain Finance (NMFC) is larger, with a market capitalization of $643.22M compared with $537.83M for Nuveen Churchill Direct Lending (NCDL).
Which stock has performed better over the past year, NCDL or NMFC?
NCDL returned -20.28% over the past 12 months, compared with -26.38% for NMFC (price return, excluding dividends). Past performance does not predict future results.
Which pays a higher dividend, Nuveen Churchill Direct Lending or New Mountain Finance?
New Mountain Finance has the higher yield at 17.77%, compared with 13.96% for Nuveen Churchill Direct Lending.
Are Nuveen Churchill Direct Lending and New Mountain Finance in the same industry?
No. Nuveen Churchill Direct Lending is in the Financial Services sector, while New Mountain Finance is in Finance.