Symbols / MSDL Stock $15.09 -0.72% Morgan Stanley Direct Lending Fund

Financial Services • Asset Management • United States • NYQ
MSDL (Stock) Chart
O: — H: — L: — C: — V: —
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Stock Fundamentals
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Index EQUITY
Sector Financial Services
Industry Asset Management
CEO Mr. Michael Occi Jr.
Exch · Country NYQ · United States
Market Cap 1.29B
Enterprise Value 3.30B
Income 122.09M
Sales 397.29M
FCF (ttm) 105.30M
Book/sh 20.26
Cash/sh 0.91
Employees —
Insider 10d —
IPO Jan 24, 2024
Div forward ($/yr)
Div TTM ($/yr)
Dividend Yield
Ex-Div Date
5Y Avg Yield
Yield vs 5Y Avg
Payout 142.86%
P/E 10.78
Forward P/E 8.34
PEG —
P/S 3.24
P/B 0.74
P/C —
EV/EBITDA —
EV/Sales 8.31
Quick Ratio 1.23
Current Ratio 1.39
Debt/Eq 119.37
LT Debt/Eq —
EPS (ttm) 1.40
EPS next Y 1.81
EPS Growth -43.00%
Revenue Growth -6.20%
EPS Gr Q/Q -44.40%
Rev Gr Q/Q —
Earnings (next) 2026-05-07
Earnings (prior) 2026-02-26
ROA 5.03%
ROE 6.80%
ROIC —
Gross Margin 100.00%
Oper. Margin 80.06%
Profit Margin 30.73%
Shs Outstand 85.26M
Shs Float —
Insider Own 0.52%
Instit Own 32.09%
Short Float 3.52%
Short Ratio 3.48
Short Interest 2.65M
52W High 20.00
vs 52W High -24.55%
52W Low 13.66
vs 52W Low 10.47%
Beta 0.42
Impl. Vol. 49.66%
Rel Volume 0.52
Avg Volume 853.39K
Volume 441.55K
Target (mean) $15.57
Tgt Median $16.00
Tgt Low $14.00
Tgt High $17.00
# Analysts 7
Recom Hold
Prev Close $15.20
Price $15.09
Change -0.72%
About

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

Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$15.57
Mean price target
2. Current target
$15.09
Latest analyst target
3. DCF / Fair value
$22.23
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$15.09
Low
$14.00
High
$17.00
Mean
$15.57

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-04-20 main UBS Neutral → Neutral $16
2026-04-16 main Keefe, Bruyette & Woods Market Perform → Market Perform $16
2026-03-13 main UBS Neutral → Neutral $16
2026-03-13 main JP Morgan Neutral → Neutral $14
2026-03-05 main RBC Capital Sector Perform → Sector Perform $16
2026-03-02 main Wells Fargo Equal-Weight → Equal-Weight $14
2026-03-02 main Keefe, Bruyette & Woods Market Perform → Market Perform $17
2026-01-07 down Wells Fargo Overweight → Equal-Weight $16
2025-11-26 down RBC Capital Outperform → Sector Perform $18
2025-11-10 main Keefe, Bruyette & Woods Market Perform → Market Perform $19
2025-11-10 main JP Morgan Neutral → Neutral $17
2025-10-14 main UBS Neutral → Neutral $18
2025-10-10 init LUCID CAPITAL MARKETS — → Buy $19
2025-10-06 up Wells Fargo Equal-Weight → Overweight $17
2025-10-01 main JP Morgan Neutral → Neutral $16
2025-09-10 main RBC Capital Outperform → Outperform $19
2025-08-14 main Wells Fargo Equal-Weight → Equal-Weight $17
2025-07-16 main UBS Neutral → Neutral $21
2025-05-22 main RBC Capital Outperform → Outperform $21
2025-04-28 main Wells Fargo Equal-Weight → Equal-Weight $19
News
RSS: Latest MSDL news
Insider Transactions
Filed Date Insider Relationship Transaction Shares Price Value SEC
2026-03-05 DAY JEFF M President — 5,000 $14.90 $74,475
2026-03-03 MILLER DAVID N Director — 10,000 $14.68 $146,850
2026-03-03 MIZRACHI ORIT President — 1,000 $14.49 $14,490
2026-03-02 OCCI MICHAEL JR. Chief Executive Officer — 7,000 $14.87 $104,098
2025-11-11 KRISHNAN ASHWIN Chief Investment Officer — 3,000 $16.72 $50,160
2025-11-10 FRANK BRUCE D Director — 600 $16.40 $9,843
2025-10-06 BINSTOCK JOAN A. Director — 9,030 $16.64 $150,229
2025-08-14 PESSAH DAVID Chief Financial Officer — 3,400 $17.72 $60,254
2025-08-14 SHANNON KEVIN Director — 5,000 $17.70 $88,500
2025-08-13 METZ ADAM S Director — 28,248 $17.67 $499,122
Financials
Statement View
Amounts in millions (2 decimals, no suffix) • EPS per share (2 decimals) • Trend = period evolution • YoY Growth = previous period %
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Revenue
133.07
-36.51%
209.59
-2.63%
215.25
+551.59%
33.03
Operating Revenue
133.07
-36.51%
209.59
-2.63%
215.25
+551.59%
33.03
Operating Expense
8.16
+197.11%
-8.41
+51.37%
-17.29
-9.12%
-15.84
Selling General And Administration
9.18
+21.36%
7.56
+34.45%
5.63
+35.57%
4.15
General And Administrative Expense
9.18
+21.36%
7.56
+34.45%
5.63
+35.57%
4.15
Other Operating Expenses
-1.02
+93.64%
-15.97
+30.30%
-22.91
-14.61%
-19.99
Total Unusual Items
—
—
—
0.00
Total Unusual Items Excluding Goodwill
—
—
—
0.00
Special Income Charges
—
—
—
0.00
Restructuring And Mergern Acquisition
—
—
—
0.00
Net Income
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Pretax Income
124.91
-42.70%
218.00
-6.25%
232.53
+375.76%
48.88
Net Interest Income
251.70
-11.44%
284.20
+15.10%
246.92
+56.71%
157.56
Interest Expense
136.13
+10.74%
122.93
+8.90%
112.88
+68.03%
67.18
Interest Income
387.83
-4.74%
407.13
+13.15%
359.81
+60.10%
224.75
Gain On Sale Of Security
-7.48
+54.61%
-16.48
-14066.10%
0.12
-78.03%
0.54
Tax Provision
2.81
+15.47%
2.44
+60.43%
1.52
+354.79%
0.33
Tax Rate For Calcs
0.00
+101.53%
0.00
+71.14%
0.00
-4.42%
0.00
Tax Effect Of Unusual Items
0.00
0.00
0.00
0.00
Net Income Including Noncontrolling Interests
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Net Income From Continuing Operation Net Minority Interest
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Net Income From Continuing And Discontinued Operation
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Net Income Continuous Operations
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Normalized Income
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Net Income Common Stockholders
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Diluted EPS
—
2.43
-7.14%
2.62
+375.91%
0.55
Basic EPS
—
2.43
-7.14%
2.62
+375.91%
0.55
Basic Average Shares
—
88.65
+0.42%
88.28
+0.00%
88.28
Diluted Average Shares
—
88.65
+0.42%
88.28
+0.00%
88.28
Diluted NI Availto Com Stockholders
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Total Assets
3,920.10
+0.21%
3,912.02
+18.30%
3,306.73
+10.74%
2,986.12
Cash And Cash Equivalents
90.59
+28.73%
70.37
+0.96%
69.70
-14.17%
81.22
Cash Equivalents
12.98
+44.56%
8.98
—
—
Cash Financial
77.61
+26.42%
61.40
-11.92%
69.70
-14.17%
81.22
Receivables
26.88
-13.37%
31.02
+6.62%
29.10
+23.01%
23.66
Investments And Advances
3,771.55
-0.53%
3,791.49
+18.72%
3,193.56
+11.13%
2,873.59
Total Liabilities Net Minority Interest
2,172.01
+4.93%
2,069.86
+30.54%
1,585.58
-0.20%
1,588.82
Payables
81.14
-10.50%
90.65
+6.09%
85.45
+37.68%
62.06
Accounts Payable
64.17
-14.02%
74.63
+8.47%
68.80
+37.39%
50.08
Other Payable
16.97
+5.87%
16.03
-3.73%
16.65
+38.88%
11.99
Long Term Debt And Capital Lease Obligation
2,086.67
+5.74%
1,973.48
+31.91%
1,496.03
-1.80%
1,523.47
Stockholders Equity
1,748.09
-5.11%
1,842.16
+7.03%
1,721.15
+23.18%
1,397.31
Common Stock Equity
1,748.09
-5.11%
1,842.16
+7.03%
1,721.15
+23.18%
1,397.31
Capital Stock
0.09
-3.37%
0.09
+7.23%
0.08
+16.90%
0.07
Common Stock
0.09
-3.37%
0.09
+7.23%
0.08
+16.90%
0.07
Preferred Stock
0.00
0.00
0.00
0.00
Share Issued
86.28
-2.52%
88.51
+0.26%
88.28
+0.00%
88.28
Ordinary Shares Number
86.28
-2.52%
88.51
+0.26%
88.28
+0.00%
88.28
Additional Paid In Capital
1,767.62
-2.47%
1,812.44
+5.83%
1,712.61
+17.95%
1,452.01
Retained Earnings
-19.62
-166.23%
29.62
+250.21%
8.46
+115.44%
-54.78
Total Equity Gross Minority Interest
1,748.09
-5.11%
1,842.16
+7.03%
1,721.15
+23.18%
1,397.31
Total Capitalization
3,834.76
+0.50%
3,815.64
+18.60%
3,217.18
+10.15%
2,920.78
Invested Capital
3,834.76
+0.50%
3,815.64
+18.60%
3,217.18
+10.15%
2,920.78
Total Debt
2,086.67
+5.74%
1,973.48
+31.91%
1,496.03
-1.80%
1,523.47
Net Debt
1,996.08
+4.89%
1,903.11
+33.43%
1,426.33
-1.10%
1,442.26
Net Tangible Assets
1,748.09
-5.11%
1,842.16
+7.03%
1,721.15
+23.18%
1,397.31
Tangible Book Value
1,748.09
-5.11%
1,842.16
+7.03%
1,721.15
+23.18%
1,397.31
Cash Cash Equivalents And Federal Funds Sold
94.41
+30.45%
72.37
+3.83%
69.70
-14.17%
81.22
Financial Assets Designatedas Fair Value Through Profitor Loss Total
3,771.55
-0.53%
3,791.49
+18.72%
3,193.56
+11.13%
2,873.59
Investmentin Financial Assets
3,771.55
-0.53%
3,791.49
+18.72%
3,193.56
+11.13%
2,873.59
Line Item Trend 2025-12-31 2024-12-31 2023-12-31 2022-12-31
Operating Cash Flow
150.90
+139.45%
-382.51
-356.33%
-83.82
+80.50%
-429.83
Net Income From Continuing Operations
122.09
-43.36%
215.56
-6.69%
231.01
+375.91%
48.54
Other Non Cash Items
-24.71
-21.35%
-20.36
-75.73%
-11.59
-30.97%
-8.85
Gain Loss On Investment Securities
50.41
+108.70%
-579.40
-91.50%
-302.56
+35.89%
-471.96
Net Foreign Currency Exchange Gain Loss
-0.14
-243.16%
0.10
0.00
0.00
Change In Working Capital
3.23
+103.97%
1.58
+328.06%
-0.69
-128.60%
2.43
Change In Receivables
4.13
+347.49%
-1.67
+79.05%
-7.97
+13.06%
-9.17
Change In Prepaid Assets
-0.05
+61.36%
-0.13
-915.38%
-0.01
-105.70%
0.23
Change In Accrued Expense
-1.53
-194.10%
1.63
+96.85%
0.83
+1777.27%
0.04
Change In Payable
0.68
-61.33%
1.76
-72.76%
6.46
-42.93%
11.33
Change In Other Current Liabilities
0.00
0.00
0.00
0.00
Financing Cash Flow
-132.90
-135.33%
376.19
+420.22%
72.31
-83.45%
436.90
Net Issuance Payments Of Debt
105.34
-77.94%
477.47
+1691.56%
-30.00
-110.66%
281.32
Issuance Of Debt
1,552.35
+30.51%
1,189.47
+191.54%
408.00
-73.95%
1,566.17
Repayment Of Debt
-1,447.00
-103.23%
-712.00
-62.56%
-438.00
+65.91%
-1,284.85
Long Term Debt Issuance
1,552.35
+30.51%
1,189.47
+191.54%
408.00
-73.95%
1,566.17
Long Term Debt Payments
-1,447.00
-103.23%
-712.00
-62.56%
-438.00
+65.91%
-1,284.85
Net Long Term Debt Issuance
105.34
-77.94%
477.47
+1691.56%
-30.00
-110.66%
281.32
Net Common Stock Issuance
-42.13
-154.13%
77.83
-65.06%
222.75
-12.50%
254.59
Common Stock Payments
-42.13
-133.23%
-18.06
0.00
0.00
Common Stock Dividend Paid
-184.03
-8.84%
-169.08
-53.02%
-110.50
-28.86%
-85.75
Cash Dividends Paid
-184.03
-8.84%
-169.08
-53.02%
-110.50
-28.86%
-85.75
Repurchase Of Capital Stock
-42.13
-133.23%
-18.06
0.00
0.00
Net Other Financing Charges
0.00
0.00
0.00
0.00
Changes In Cash
18.00
+384.77%
-6.32
+45.08%
-11.51
-262.98%
7.06
Effect Of Exchange Rate Changes
0.04
+216.67%
0.01
0.00
0.00
Beginning Cash Position
63.40
-9.05%
69.70
-14.17%
81.22
+9.52%
74.15
End Cash Position
81.43
+28.45%
63.40
-9.05%
69.70
-14.17%
81.22
Free Cash Flow
150.90
+139.45%
-382.51
-356.33%
-83.82
+80.50%
-429.83
Common Stock Issuance
—
95.89
-56.95%
222.75
-12.50%
254.59
Interest Paid CFO
—
-13.07
-115.41%
-6.07
-123.62%
-2.71
Issuance Of Capital Stock
—
95.89
-56.95%
222.75
-12.50%
254.59
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

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