MSDL logo
MSDL NYSE US

Morgan Stanley Direct Lending Fund Common Stock

Financial Services · Financial Services Website · IPO Jan 2024
$14.35
▲ +$0.12 (+0.84%)
Vol 696K
Mkt Cap
$1.2B
P/E
10.1
ROE
6.9%
Margin
30.7%
52W
$14–$20

Wall Street Consensus

13 analysts · Apr 2026
2
Strong Buy
5
Buy
6
Hold
0
Sell
0
Strong Sell
53.8%
Buy Rating

Price Chart

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Earnings

Beat rate: 25.0%
Quarter EPS Est EPS Act Surprise
Dec 2025 $0.50 $0.62 +$0.12
Sep 2025 $0.51 $0.50 $-0.01
Jun 2025 $0.53 $0.50 $-0.03
Mar 2025 $0.56 $0.52 $-0.04

Quarterly Revenue & Earnings

Quarter 2024-0… 2024-1… 2025-0… 2025-0… 2025-0… 2025-1…
Revenue — $50.8M $31.3M $38.3M $30.8M $32.7M
Net Income — $51.6M $29.7M $36.1M $27.6M $28.7M

Key Ratios

ROA (TTM)
3.1%
P/S (TTM)
3.11
P/B
0.8
EPS (TTM)
$1.40
Rev Growth 3Y
+19.9%
52W High
$20.00
52W Low
$13.66
$13.66 52-Week Range $20.00

Financial Health

Free Cash Flow
$53.8M
Net Debt
$2.0B
Cash
$90.6M
Total Debt
$2.1B
As of Dec 31, 2025

How does MSDL compare to Financial Services peers?

Peer group: Peers · Financial Services (Peers) · 10 companies

MSDL VRTS CSWC MFIC GSBD PSEC OCSL KBDC BLK TRIN

MSDL valuation vs Financial Services peers

P/E ratio
10.1
▼ 0% below peers (10.1)
vs Peers
vs Industry
Fair value
P/S ratio
3.1
▼ 9% below peers (3.4)
vs Peers
vs Industry
Fair value
P/B ratio
0.8
▼ 9% below peers (0.9)
vs Peers
vs Industry
Fair value
Div yield
—
▼ 0% below peers (11.1%)
vs Peers
vs Industry
Strong yield

MSDL profitability vs Financial Services peers

ROE
6.9%
▼ 16% below peers (8.1%)
vs Peers
vs Industry
Weak
Net margin
30.7%
▼ 0% below peers (30.8%)
vs Peers
vs Industry
In line
Gross margin
47.1%
▼ 14% below peers (54.9%)
vs Peers
vs Industry
Weak
ROA
3.1%
▼ 12% below peers (3.5%)
vs Peers
vs Industry
Weak

MSDL financial health vs Financial Services peers

D/E ratio
—
▼ 0% below peers (109.3)
vs Peers
vs Industry
In line
Current ratio
1.4
▲ 16% above peers (1.2)
vs Peers
vs Industry
Below avg
Beta
—
▼ 0% below peers (0.8)
vs Peers
vs Industry
More volatile

MSDL fundamentals radar

MSDL Peer median Industry

MSDL profitability vs leverage

Bubble size = market cap · X = net margin · Y = D/E ratio

MSDL vs peers: key metrics

Insider Activity

Bullish
Buys
4
$339913
Sells
0
DAY JEFF M
President · Mar 05
purchase
5000 shs
MILLER DAVID N
Director · Mar 03
purchase
10000 shs
MIZRACHI ORIT
President · Mar 03
purchase
1000 shs
OCCI MICHAEL JR.
Chief Executive Officer · Mar 02
purchase
7000 shs
Last 90 days

Insider Buy Returns

DAY JEFF M
Mar 05, 2026
$74475 -3.69%
MILLER DAVID N
Mar 03, 2026
$146850 -2.25%
MIZRACHI ORIT
Mar 03, 2026
$14490 -0.97%
OCCI MICHAEL JR.
Mar 02, 2026
$104098 -3.5%
KRISHNAN ASHWIN
Nov 11, 2025
$50160 -14.17%
BINSTOCK JOAN A.
Oct 06, 2025
$150229 -13.76%
PESSAH DAVID
Aug 14, 2025
$60254 -19.02%
SHANNON KEVIN
Aug 14, 2025
$88500 -18.93%
METZ ADAM S
Aug 13, 2025
$499122 -18.79%
MILLER DAVID N
Aug 12, 2025
$176900 -18.88%

Top Holders

Top 5: 25.77%
Morgan Stanley
18.54%
$227.8M
Van Eck Associates Corporat…
2.15%
$26.4M
Generali Asset Management S…
2.14%
$26.3M
UBS Group AG
1.95%
$23.9M
Two Sigma Investments, LP
0.99%
$12.1M
As of Dec 31, 2025

Dividends

$1.95
/ year
Mar 31, 2026 $0.4500
Dec 31, 2025 $0.5000
Sep 30, 2025 $0.5000
Jun 30, 2025 $0.5000
Mar 31, 2025 $0.5000
Dec 31, 2024 $0.5000
Nov 04, 2024 $0.1000
Sep 30, 2024 $0.5000

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