Morgan Stanley Direct Lending Fund (MSDL)

NYSE: MSDL · USD

$13.8

+0.15 (+1.1%)· Recorded snapshot

Market cap	1.2B
Revenue (ttm)	374.2M
Net income (ttm)	59.7M
EPS (ttm)	$0.69
Shares out	84.1M
P/E (trailing)	19.9x
P/E (forward)	7.7x
Dividend	$1.80 (13.04%)
Volume	924,663
Beta	0.68

Market data

Price

Recent price action with selectable time range.

Financial snapshot

Revenue (ttm): 374.2M
Net income (ttm): 59.7M
EPS (ttm): $0.69
P/E (trailing): 19.9x
P/E (forward): 7.7x
Market cap: 1.2B

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
ACGL	Arch Capital Group Ltd.	34.8B	8.3x	1.8x	15.9%	+15.1%	+18.7%	Starker Kauf
AIG	American International Group Inc.	41.7B	14.7x	1.6x	7.7%	-9.6%	+2.8%	Starker Kauf
AIZ	Assurant, Inc.	14.1B	13.6x	1.0x	14.4%	+6.6%	+36.2%	Halten

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Sector percentile context

Refreshed 2026-10-28 19:55 UTC

Forward P/E7.7

P25 n/aP50 n/aP75 n/a

Trailing P/E19.9

P25 n/aP50 n/aP75 n/a

ROE3.5

P25 n/aP50 n/aP75 n/a

ROIC7.8

P25 n/aP50 n/aP75 n/a

Benchmarks · 1M

All MSDL indicators

Market & fundamental data

Available fields

212

Groups with data

Currency

USD

Showing 212 of 212 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Amount currency	USD
CIK code	0001782524
Company name	Morgan Stanley Direct Lending Fund
Country	United States
Country code	US
CUSIP number	61774A103
Earnings date	2026-11-05
Enterprise value	$3.1B
Exchange	NYSE
Financial currency	USD
Financial report date	2026-06-30
First seen	2026-05-09
Fiscal year end	December
Founded	2019
Industry	Asset Management
Is primary listing	Yes
Is SPAC	No
ISIN number	US61774A1034
Last 10-K release date	2026-02-26
Last earnings date	2026-08-06
Last refreshed	2026-10-28
Last stock split type	Never
Market cap	$1.2B
Market cap category	Small-Cap
Next earnings date	2026-11-05
Options	Yes
Price	$13.79
Price currency	USD
Sector	Financials
Stock price date	2026-10-28
Symbol	MSDL
Tags	business-development-company
U.S. state	New York

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Adjusted P/E ratio	7.22x
Average P/E ratio (3Y)	10.77x
Earnings yield	5.04%
EV/Earnings	51.58x
EV/EBIT	10.33x
EV/FCF	10.89x
EV/Sales	8.24x
FCF / EV yield	9.18%
FCF yield	24.45%
Forward EV/Sales	8.63x
Forward P/E	7.7x
Forward P/S	3.24x
Graham number	17.45874
Graham upside	26.88%
Industry forward P/E	12.8x
Industry P/E	27.28x
Lynch fair value	$3.47
Lynch upside	-74.76%
P/B ratio	0.7x
P/E ratio	19.85x
P/FCF ratio	4.09x
P/OCF ratio	4.09x
P/S ratio	3.09x
Price / tangible book value	0.7x
Sector forward P/E	13.63x
Sector P/E	15.65x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT margin	79.74%
Effective tax rate	5.71%
FCF margin	75.61%
Gross margin	100%
Operating margin	79.74%
Pretax margin	16.94%
Profit margin	15.97%
ROA	4.89%
ROA (5Y)	5.08%
ROCE	8.22%
ROE	3.48%
ROE (5Y)	9.73%
ROIC	7.78%
ROIC (5Y)	8.44%
Tax / revenue	0.97%

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
EPS growth	-64.01%
EPS growth (Q)	-77.41%
EPS growth 3Y	-28.55%
EPS growth 5Y	-26.42%
Gross profit growth	-9.57%
Gross profit growth (Q)	-10.79%
Gross profit growth 3Y	6.61%
Gross profit growth 5Y	43.8%
Net income growth	-64.98%
Net income growth (Q)	-78.04%
Net income growth 3Y	-22.78%
Net income growth 5Y	3.09%
OCF growth (Q)	331.95%
OCF growth (QoQ)	20.22%
Operating income growth	-11.45%
Operating income growth (Q)	-9.66%
Operating income growth 3Y	4.42%
Operating income growth 5Y	46.48%
Revenue growth	-9.57%
Revenue growth (Q)	-10.79%
Revenue growth (QoQ)	-0.33%
Revenue growth 3Y	6.61%
Revenue growth 5Y	43.8%

Financial statements

Income-statement and cash-flow amounts, totals and per share.

Metric	Value
EBIT	$298.4M
EPS	$0.69
FCF per share	$3.36
Financing cash flow	$-269.2M
Free cash flow	$282.9M
Gross profit	$374.2M
Income taxes	$3.6M
Net borrowing	$-53.2M
Net cash flow	$13.6M
Net income	$59.7M
Operating income	$298.4M
Revenue	$374.2M

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Altman Z-Score	0.76
Book value per share	$19.50
Debt / equity	1.2
Debt / FCF	7.01
Interest coverage	2.39
Long-term assets	$3.6B
Long-term liabilities	$2B
Net cash (debt)	$-1.9B
Net cash / market cap	-166.29%
Net debt / equity	1.17
Net debt / FCF	6.8
Piotroski F-Score	6
Shareholders' equity	$1.6B
Tangible book value	$1.6B
Tangible book value per share	$19.50
Total assets	$3.7B
Total cash	$57.5M
Total debt	$2B
Total liabilities	$2.1B
WACC	6.71%

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Asset turnover	0.1
Current assets	$123M
Current liabilities	$80.9M
Current ratio	1.52
Net working capital	$-15.3M
Quick ratio	1.41
Working capital	$42.1M
Working capital turnover	14.85

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback yield / dilution	2.7%
Dividend growth	-7.5%
Dividend growth years	0
Dividend payment date	2026-10-23
Dividend payment years	3
Dividend payout frequency	Quarterly
Dividend per share	$1.80
Dividend yield	13.04%
Ex-dividend date	2026-09-30
FCF payout ratio	55%
Last dividend	$0.45
Payout ratio	266.3%
Shareholder yield	15.78%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
150-day SMA	$14.85
1D price change	1.1%
1M price change	-3.5%
1M total return	-0.36%
1W price change	6.98%
1W total return	6.98%
1Y price change	-20.61%
1Y return CAGR	-10.18%
1Y total return	-10.17%
20-day SMA	$13.30
200-day SMA	$15.00
3M price change	-10.1%
3M total return	-7.18%
50-day SMA	$14.24
50-day SMA vs 200-day SMA	50under200
52-week high	$17.91
52-week high date	2025-12-10
52-week low	$12.71
52-week low date	2026-10-19
6M price change	-8.43%
6M total return	-2.65%
All-time high	$24.18
All-time high date	2024-06-21
All-time low	$12.71
All-time low date	2026-10-19
Average true range (ATR)	$0.30
Average volume	627.5K
Beta (1Y)	0.75
Beta (2Y)	0.58
Beta (5Y)	0.68
Change from 52-week high	-23%
Change from 52-week low	8.5%
Change from all-time high	-42.97%
Change from all-time low	8.5%
Change from open	0.29%
Day's gap	0.81%
Dollar volume	$12.8M
High price	$13.88
Low price	$13.69
Monthly RSI	34.41
Open price	$13.75
Position in 52-week range	52.63%
Previous close	$13.64
Price vs 150-day SMA	-7.16%
Price vs 20-day SMA	3.65%
Price vs 200-day SMA	-8.05%
Price vs 50-day SMA	-3.19%
Relative volume	1.49
RSI	54.22
Sharpe ratio	-0.59
Sortino ratio	-0.55
Volume	924.7K
Weekly RSI	39.38
YTD price change	-16.32%
YTD total return	-8.11%

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Shares change (QoQ)	-1.19%
Shares change (YoY)	-2.7%
Shares held by insiders	0.38%
Shares held by institutions	46.25%
Shares outstanding	84.1M
Short % of shares	4.69%
Short ratio	9.4 days

Deeper analysis on MSDL

14 sections in the full report · jump straight to what you need

Forecast

Base and Bull forecast paths with report-date return framing.

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Valuation

Fair-value bridge, DCF, owner earnings, and peer multiples.

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Sensitivity

Cost-of-equity and terminal-growth stress table.

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Risks

Kill scenarios, soft-pass flags, and downside catalysts.

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Earnings

Next earnings setup and beat / inline / miss thresholds.

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Position sizing

Entry, exit, conviction, and quarterly monitoring rules.

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Financials

Revenue, margins, cash flow, and balance-sheet context.

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Peers

Relative valuation and profitability against the cohort.

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Moat

Economic-profit evidence and competitive advantage risk.

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Industry cycle

Sector phase, capital cycle, and secular tailwinds.

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Frequently asked questions

About this MSDL report

Is a complete MSDL research report available?

No complete published report is available for Morgan Stanley Direct Lending Fund (MSDL) on this page. Market-directory data, when present, is not a substitute for a validated stock analysis.

Morgan Stanley Direct Lending Fund (MSDL)

Price

Financial snapshot

Fair-value bridge

Latest news · MSDL

Valuation

Profitability

Balance sheet

Trading

Next earnings

Sector percentile context

All MSDL indicators

Profile and market data

Valuation

Profitability

Growth

Financial statements

Financial strength

Liquidity

Dividends and buybacks

Performance and technicals

Ownership and float

Deeper analysis on MSDL

Frequently asked questions