Crescent Capital BDC (NASDAQ:CCAP – Get Free Report) and Nuveen Churchill Direct Lending (NYSE:NCDL – Get Free Report) are both small-cap finance companies, but which is the better business? We will compare the two companies based on the strength of their valuation, risk, earnings, dividends, institutional ownership, profitability and analyst recommendations.
Dividends
Crescent Capital BDC pays an annual dividend of $1.68 per share and has a dividend yield of 11.8%. Nuveen Churchill Direct Lending pays an annual dividend of $1.80 per share and has a dividend yield of 12.8%. Crescent Capital BDC pays out 171.4% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Nuveen Churchill Direct Lending pays out 117.6% of its earnings in the form of a dividend, suggesting it may not have sufficient earnings to cover its dividend payment in the future. Crescent Capital BDC has raised its dividend for 1 consecutive years. Nuveen Churchill Direct Lending is clearly the better dividend stock, given its higher yield and lower payout ratio.
Analyst Ratings
This is a summary of current ratings and price targets for Crescent Capital BDC and Nuveen Churchill Direct Lending, as provided by MarketBeat.
| Sell Ratings | Hold Ratings | Buy Ratings | Strong Buy Ratings | Rating Score | |
| Crescent Capital BDC | 1 | 1 | 3 | 1 | 2.67 |
| Nuveen Churchill Direct Lending | 0 | 4 | 1 | 0 | 2.20 |
Volatility and Risk
Crescent Capital BDC has a beta of 0.55, meaning that its share price is 45% less volatile than the S&P 500. Comparatively, Nuveen Churchill Direct Lending has a beta of 0.4, meaning that its share price is 60% less volatile than the S&P 500.
Earnings & Valuation
This table compares Crescent Capital BDC and Nuveen Churchill Direct Lending”s top-line revenue, earnings per share and valuation.
| Gross Revenue | Price/Sales Ratio | Net Income | Earnings Per Share | Price/Earnings Ratio | |
| Crescent Capital BDC | $197.36 million | 2.67 | $73.65 million | $0.98 | 14.52 |
| Nuveen Churchill Direct Lending | $224.04 million | 3.10 | $116.32 million | $1.53 | 9.20 |
Nuveen Churchill Direct Lending has higher revenue and earnings than Crescent Capital BDC. Nuveen Churchill Direct Lending is trading at a lower price-to-earnings ratio than Crescent Capital BDC, indicating that it is currently the more affordable of the two stocks.
Profitability
This table compares Crescent Capital BDC and Nuveen Churchill Direct Lending’s net margins, return on equity and return on assets.
| Net Margins | Return on Equity | Return on Assets | |
| Crescent Capital BDC | 20.84% | 9.76% | 4.30% |
| Nuveen Churchill Direct Lending | 36.83% | 11.13% | 4.83% |
Institutional & Insider Ownership
49.5% of Crescent Capital BDC shares are owned by institutional investors. 1.1% of Crescent Capital BDC shares are owned by company insiders. Comparatively, 0.6% of Nuveen Churchill Direct Lending shares are owned by company insiders. Strong institutional ownership is an indication that endowments, large money managers and hedge funds believe a company is poised for long-term growth.
About Crescent Capital BDC
Crescent Capital BDC, Inc. is as a business development company private equity / buyouts and loan fund. It specializes in directly investing. It specializes in middle market. The fund seeks to invest in United States.
About Nuveen Churchill Direct Lending
Nuveen Churchill Direct Lending Corp. is a specialty finance company focused primarily on investing in senior secured loans to private equity-owned U.S. middle market companies. It has elected to be regulated as a business development company. Nuveen Churchill Direct Lending Corp. is based in NEW YORK.
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