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Morgan Stanley Direct Lending Fund (MSDL) Financial History

4 years of revenue, earnings, cash-flow and balance-sheet history from public filings.

Financial Services · Asset Management · DATA UPDATED 2026-07-21

Morgan Stanley Direct Lending Fund (MSDL) operates in the Asset Management industry and is headquartered in New York, United States. Its market capitalization is roughly $1 billion. In the fiscal year ended 2025-12-31, MSDL reported $133M in revenue and $122M in net income.

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.

Interactive charts & full statements → Open the MSDL valuation workbench →

MSDL Revenue & Earnings History — Annual Income Statement

Income statement2025-12-312024-12-312023-12-312022-12-312021-12-31
Total Revenue$133M$210M$215M$33M
Net Income$122M$216M$231M$48M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MSDL Quarterly Revenue & Earnings — Last 8 Quarters

Quarterly income statement2026-03-312025-12-312025-09-302025-06-302025-03-312024-12-31
Total Revenue($2M)$33M$31M$38M$31M
Net Income($4M)$29M$28M$36M$30M

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MSDL Free Cash Flow History

Cash flow2025-12-312024-12-312023-12-312022-12-312021-12-31
Dividends Paid($184M)($169M)($110M)($86M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MSDL Quarterly Free Cash Flow — Last 8 Quarters

Quarterly cash flow2026-03-312025-12-312025-09-302025-06-302025-03-312024-12-31
Dividends Paid($43M)($43M)($44M)($44M)($53M)

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

MSDL Balance Sheet History

Balance sheet2025-12-312024-12-312023-12-312022-12-31
Total Assets$3.9B$3.9B$3.3B$3.0B
Total Liabilities$2.2B$2.1B$1.6B$1.6B

USD; $M / $B as marked. Newest period first. Source: public company filings (via Yahoo Finance aggregation).

Quarterly statements, profitability ratios, price history, insider activity and institutional holders are in the interactive MSDL viewer.

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