stockrowMorgan Stanley Direct Lending Fund
MSDL Financial Asset Management
Morgan Stanley Direct Lending Fund’s revenue for fiscal 2025 (year ended December 2025) was $397.3 million, down 4.52% from fiscal 2024.
- Revenue
- −13.6%
- EPS
- −200.0%
- Free cash flow
- +230.0%
- Total debt
- −8.16%
Quarter to September 2026, against a year earlier
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Morgan Stanley Direct Lending Fund (MSDL) P/E ratio
As of 5 November 2026, Morgan Stanley Direct Lending Fund (MSDL) trades at a P/E ratio of 284×. Over the past ten years it has ranged from 6.3× (February 2024) to 288× (November 2026); the current reading is higher than 100% of that period. That is above the Asset Management industry median of 13.4× and above the Financial sector median of 12.2×.
P/E ratio, daily
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Annual newest first
| Period | P/E ratio | Change |
|---|---|---|
| FY2025 | 11.8× | 38.45% |
| FY2024 | 8.5× | 28.93% |
| FY2023 | 6.6× | 0.00% |
| FY2022 | 6.6× | 0.00% |
| FY2021 | 6.6× | 0.00% |
| FY2020 | 6.6× | — |
Quarterly newest first
| Period | P/E ratio | Change |
|---|---|---|
| Sep 2026 | 273× | 1,144.01% |
| Jun 2026 | 21.9× | 58.54% |
| Mar 2026 | 13.8× | 17.42% |
| Dec 2025 | 11.8× | 20.79% |
| 23 more quarters | Free account |
Against its own ten years
P/E ratio against peers
| Company | P/E ratio |
|---|---|
| BUR Burford Capital Limited compare | n/m |
| TRIN Trinity Capital Inc. compare | 9.6× |
| BBDC BARINGS BDC, INC. compare | 10.3× |
| CSWC Capital Southwest Corporation compare | 13.2× |
| PAX Patria Investments Limited compare | 21.9× |
| OCSL Oaktree Specialty Lending Corp. compare | 26.1× |
| RPC Ridgepost Capital, Inc. compare | 29.6× |
| GSBD Goldman Sachs BDC, Inc. compare | 34.0× |
| MSDL Morgan Stanley Direct Lending Fund | 284× |
| Asset Management industry median | 13.4× |
| Financial sector median | 12.2× |
| Market median | 17.9× |
What P/E ratio is
Price to Earnings Ratio shows how much investors pay for each dollar of a company’s annual profit per share.
Stock Price ÷ EPS (Basic) (TTM)