YOLFTbeta
Morgan Stanley Direct Lending Fund

Morgan Stanley Direct Lending Fund

MSDL · NYSE · Financial Services / Asset Management

13.84USD+0.01 (+0.07%)

Price History

Full chart

Market Stats

Previous Close13.83
Open13.98
Day Range13.76 – 13.98
52-Week Range13.13 – 16.34
Volume649.75K
Market Cap1.19B
P/E (TTM)20.82
Forward P/E7.70
EPS0.68
Dividend Yield12.60%
Beta0.64
50-Day Avg15.06
200-Day Avg15.38

About

Morgan Stanley Direct Lending Fund is a business development company. It is a Private Debt fund. The fund chiefly invests in riskier bonds, issued by middle-market companies or by private equity firms looking to finance their acquisitions.

Company Details

  • SectorFinancial Services
  • IndustryAsset Management
  • CEOMr. Michael Occi Jr.
  • Employees0
  • Headquarters1585 Broadway, New York, NY, United States, 10036, USA

Leadership

  • Mr. Michael Occi Jr.CEO & Director · b. 1984
  • Ms. Orit Mizrachi CPACo- President & COO · b. 1973
  • Mr. Jeffrey M. DayCo-President · b. 1977
  • Mr. David PessahChief Financial Officer · b. 1986
  • Mr. Ashwin KrishnanChief Investment Officer · b. 1977
  • Ms. Sanna JohnsonHead of Investor Relations
  • Ms. Hope Lynne Brown SaxtonChief Compliance Officer · b. 1974
  • Ms. Erin HoodSecretary

Financials

Income Statement

Currency: USD2019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Revenue-23.47M98.62M100.22M328.13M332.52M386.99M
Growth (%)--+320.22%+1.62%+227.42%+1.34%+16.38%
Cost of Revenue-3.73M21.02M67.18M112.88M122.93M73.42M
Gross Profit-19.74M77.61M33.03M215.25M209.59M313.57M
Gross Margin-84.13%78.69%32.96%65.60%63.03%81.03%
Operating Expense-1.45M-5.73M-15.84M-17.29M-8.41M55.48M
Operating Income-2.31M18.30M83.33M48.88M232.53M218.00M258.09M
Operating Margin-77.96%84.50%48.77%70.87%65.56%66.69%
EBITDA-1.16M18.30M83.33M48.88M232.53M218.00M258.23M
EBITDA Margin-77.96%84.50%48.77%70.87%65.56%66.73%
Net Income-1.16M18.30M83.25M48.54M231.01M215.56M122.09M
Net Income Margin-77.96%84.42%48.44%70.40%64.83%31.55%
R&D-0.760.680.210.63--
R&D as % of Total Revenue-0.00%0.00%0.00%0.00%--
Interest Expense-3.73M21.02M67.18M112.88M122.93M136.13M
Interest Expense % of Total Revenue-15.87%21.31%67.04%34.40%36.97%35.18%

Balance Sheet

Currency: USD2019-12-312020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Total Assets1.46M656.81M2.49B2.99B3.31B3.91B3.92B
Total Liabilities2.59M355.19M1.30B1.59B1.59B2.07B2.17B
Total Equity-1.12M301.62M1.19B1.40B1.72B1.84B1.75B
Cash35.00K11.26M74.15M81.22M69.70M70.37M81.43M
Total Debt-333.85M1.25B1.52B1.50B1.97B2.09B
Net Debt-35.00K322.59M1.18B1.44B1.43B1.90B2.01B

Cash Flow

Currency: USD2020-12-312021-12-312022-12-312023-12-312024-12-312025-12-31
Operating Cash Flow12.43M67.69M121.59M185.78M201.47M150.90M
Investing Cash Flow-625.78M-1.73B-551.43M-269.60M-575.01M301.00K
Financing Cash Flow624.58M1.72B436.90M72.31M376.19M-132.90M
Capital Expenditure000000
Free Cash Flow12.43M67.69M121.59M185.78M201.47M150.90M
Dividends Paid3.74M38.22M85.75M110.50M169.08M184.03M
FCF to OCF100.00%100.00%100.00%100.00%100.00%100.00%
Dividend Paid to FCF30.07%56.46%70.52%59.48%83.92%121.96%

Earnings

Report DateMar 1, 2024May 9, 2024Aug 8, 2024Nov 7, 2024Feb 27, 2025May 8, 2025Aug 7, 2025Nov 6, 2025Feb 26, 2026May 7, 2026Aug 6, 2026Nov 5, 2026
EPS Estimate0.660.650.620.640.600.550.520.500.490.460.440.44
EPS Actual0.670.630.630.600.580.520.500.500.490.470.45-
Surprise1.52%-3.08%1.61%-6.25%-3.33%-5.45%-3.85%0.00%0.00%2.17%2.27%-
TimingPre-marketAfter-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours-After-hoursAfter-hoursAfter-hours

Key Statistics & Ratios

Market Cap1.19B
Enterprise Value3.12B
Trailing P/E20.82
Forward P/E7.70
Price / Sales3.18
Price / Book0.73
EPS0.68
Book Value19.50
Revenue (TTM)374.16M
Gross Profit (TTM)374.16M
Profit Margin15.97%
Operating Margin79.95%
Return on Equity3.48%
Return on Assets4.89%
Shares Outstanding84.11M
Shares Float0
Beta0.64
Dividend Yield12.60%
Dividend Rate1.80
Payout Ratio96.86%

Analyst Ratings

Hold
Based on 6 analystsTarget 15.61
  • Buy
    1
  • Hold
    5

Ownership Breakdown

Institutions
35.10%
Insiders
0.60%
Retail / Other
64.30%

Top Institutional Holders

  • Morgan Stanley - Brokerage Accounts
    15.87M18.87%
  • Generali Asset Management SPA SGR
    1.83M2.18%
  • UBS Group AG
    1.60M1.90%
  • Van Eck Associates Corporation
    1.43M1.71%
  • Lunate Capital Ltd
    1.10M1.31%
  • Two Sigma Investments LLC
    893.19K1.06%
  • Muzinich & Co Inc
    838.90K1.00%
  • Ares Management LLC
    775.13K0.92%
  • Altshuler Shaham Ltd
    650.44K0.77%
  • American Financial Group Inc
    631.50K0.75%
  • The Toronto-Dominion Bank
    622.21K0.74%
  • Sumitomo Mitsui Trust Group Inc
    616.12K0.73%
  • Wells Fargo & Co
    542.80K0.65%
  • DG Capital Management, LLC
    475.54K0.57%
  • Trexquant Investment LP
    409.33K0.49%
  • TT Capital Management LLC
    343.32K0.41%
  • Hennion & Walsh Asset Management Inc
    315.80K0.38%
  • HighTower Advisors, LLC
    265.28K0.32%
  • Americana Partners, LLC
    262.61K0.31%

Top Fund Holders

  • Accelerate Divers Crdt Inc ETF
    389.83K0.46%

Dividends

20263×
0.45Sep 30, 20260.45Jun 30, 20260.45Mar 31, 2026
20254×
0.50Dec 31, 20250.50Sep 30, 20250.50Jun 30, 20250.50Mar 31, 2025
20246×
0.50Dec 31, 20240.10Nov 4, 20240.50Sep 30, 20240.10Aug 5, 20240.50Jun 28, 20240.50Mar 27, 2024