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

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

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Columns are period end dates

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