Morgan Stanley Direct Lending Fund (MSDL)

NYSE: MSDL · Real-Time Price · USD

15.46

-0.11 (-0.71%)

Aug 14, 2026, 4:00 PM EDT - Market closed

MSDL Financials Overview

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	374.16	397.29	416.08	367.74	230.59	119.82
Revenue Growth	-9.57%	-4.52%	13.14%	59.48%	92.46%	447.03%
Gross Profit	374.16	397.29	416.08	367.74	230.59	119.82
Operating Income	298.36	314.97	345.6	312.46	195.53	94.02
Net Income	59.75	122.09	215.56	231.01	48.54	83.26
Earnings Per Share	0.69	1.40	2.43	3.11	0.79	2.67
EPS Growth	-64.01%	-42.47%	-21.86%	295.37%	-70.54%	10.39%

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	57.46	77.61	61.4	69.71	81.22	74.15
Total Debt	1,982	2,087	1,973	1,496	1,523	1,250
Net Cash (Debt)	-1,924	-2,009	-1,912	-1,426	-1,442	-1,176
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-22.38	-23.02	-21.57	-19.21	-23.38	-37.73

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	282.91	150.9	-382.51	-83.82	-429.84	-1,661
Free Cash Flow	282.91	150.9	-382.51	-83.82	-429.84	-1,661
Free Cash Flow Growth	-	-	-	-	-	-

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Operating Margin	79.74%	79.28%	83.06%	84.97%	84.79%	78.47%
Pretax Margin	16.94%	31.44%	52.39%	63.23%	21.20%	69.55%
Profit Margin	15.97%	30.73%	51.81%	62.82%	21.05%	69.49%

Dividends

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 17, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Dividend Per Share	1.800	2.000	2.000	2.000	1.920	2.070
Dividend Per Share Growth	-7.50%	0%	0%	4.17%	-7.25%	84.82%
Dividend Yield	11.64%	12.91%	11.51%	-	-	-

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 17, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	22.25	11.72	8.51	-	-	-
Forward PE	8.71	8.72	8.93	-	-	-
PS Ratio	3.48	3.60	4.41	-	-	-