Saturday 17 October 2026 Export MSDL’s income statement to Excel — free account

Morgan Stanley Direct Lending Fund

Morgan Stanley Direct Lending Fund’s revenue for fiscal 2025 (year ended December 2025) was $397.3 million, down 4.52% from fiscal 2024. In the quarter to June 2026, revenue fell 10.8%, EPS fell 78.1%, free cash flow grew 331.9% and total debt fell 3.33%, each against the same quarter a year earlier.

13.03 0.26 −1.96%

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Market cap: $1.1B
P/E: 18.9×
Fwd P/E: 11.6×
Dividend yield: 14.2%
F-score: 6/9
Altman Z: n/a
Beneish M: n/a
Dividend safety: n/a

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

	Older periods	Sep '25	Dec '25	Mar '26	Jun '26
P/E ratio Full definition →	+8 more quarters Free account	9.75	11.77	13.82	21.91
P/S ratio Full definition →		3.46	3.62	3.11	3.43
P/FCF ratio Full definition →		0.00	9.53	5.89	4.53
P/Operating CF Full definition →		35.80	26.76	13.87	12.35
P/B ratio Full definition →		0.79	0.82	0.71	0.78
Price to Tangible BV Full definition →		0.79	0.82	0.71	0.78
EV/Sales Full definition →		8.43	8.67	8.24	8.55
EV/EBITDA Full definition →		9.28	9.31	8.42	8.32
EV/Operating CF Full definition →		(424.63)	22.82	15.60	11.30
EV/FCF Full definition →		(424.63)	22.82	15.60	11.30
Quick Ratio Full definition →		1.25	1.27	1.41	1.48
Current Ratio Full definition →		1.45	1.47	1.61	1.71
Net Debt/EBITDA Full definition →		20.76	23.51	18.64	19.84
Debt/Assets Full definition →		52.70%	53.23%	53.68%	53.41%
Debt/Equity Full definition →		1.17	1.19	1.21	1.20
Asset Turnover Full definition →		0.10	0.10	0.10	0.10
Operating CF/Net income Full definition →		1.41	1.87	(19.15)	13.09
Capex/Depreciation Full definition →		0.00	0.00	0.00	0.00
Interest Coverage Full definition →		2.30	2.32	2.35	2.22
Research and Development Expense of Revenue Full definition →		0.00%	0.00%	0.00%	0.00%
Selling, General and Administrative Expense of Revenue Full definition →		2.66%	2.33%	1.90%	2.21%
Intangible Assets out of Total Assets Full definition →		0.00	0.00	0.00	0.00
Share Based Compensation of Revenue Full definition →		0.00%	0.00%	0.00%	0.00%
Graham Net Nets Full definition →		(1.46)	(1.42)	(1.67)	(1.50)
Graham Number Full definition →		27.52	25.12	21.16	17.37
Earnings Yield Full definition →		10.26%	8.50%	7.23%	4.56%
Free Cash Flow Yield Full definition →		(0.57%)	10.49%	16.96%	22.08%
Revenue per Share Full definition →		1.15	1.11	1.04	1.05
Operating CF per Share Full definition →		0.45	0.62	1.01	1.22
Capex per Share Full definition →		0.00	0.00	0.00	0.00
Free Cash Flow per Share Full definition →		0.45	0.62	1.01	1.22
Cash per Share Full definition →		0.75	0.93	0.94	0.78
Shareholders Equity per Share Full definition →		20.40	20.03	19.71	19.44
Interest Debt per Share Full definition →		0.00	0.00	0.00	0.00
Book value per Share Full definition →		20.40	20.03	19.71	19.44
Free Cash Flow Full definition →		39.01	53.75	86.35	103.81
Working Capital Full definition →		39.82	39.85	49.55	57.71
Net Current Asset Value Full definition →		(2,032.58)	(2,046.82)	(2,003.50)	(1,924.18)
EV/EBIT Full definition →		10.71	10.97	10.36	10.72
Capex to Sales Full definition →		0.00	0.00	0.00	0.00
Price to Operating Income Full definition →		7.69	8.09	6.91	7.61
Other line items
Average Receivables Full definition →		39.20	28.95	30.78	39.70
Average Payables Full definition →		88.55	85.89	80.03	75.72
Average Assets Full definition →		3,862.83	3,916.06	3,868.49	3,816.31
Average Common Equity Full definition →		1,812.67	1,795.12	1,754.14	1,719.08

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Columns are period end dates

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