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Home CompaniesMorgan Stanley Direct Lending Fund

Morgan Stanley Direct Lending Fund

Financial Services Asset Management
PortfolioPortfolio WatchlistWatchlist
Company price
13.85 USD 0.23 ( 1.69%)
Last update at 2026-11-09T15:34:00Z
VOLUME
152404
Market Cap
1238.87M
P/E
21.35

Momentum Score

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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.

Source: TradingView
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Day Price Range
13.69
Low
14.00
High
52 Week Price Range
13.13
Low
16.34
High

Momentum Score

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A unique technical analysis driven score developed by Kalkine showing momentum in stock prices based on select technical indicators identified.

Score - Rating
>= 1 - Low / > 1 but < 2 - Below Average / > 2 but < 3 - Average / > 3 but < 4 - Above Average / > 4 - High
AI Summary

Morgan Stanley Direct Lending Fund is a closed-end investment company that provides access to privately originated loans and other credit instruments, primarily targeting middle-market U.S. borrowers through strategies managed by Morgan Stanley Investment Management. Its long-term growth drivers include persistent demand for private credit, a potential yield premium versus public fixed income, and opportunities arising when banks retrench, which may support deal flow and income generation. The fund could appeal to income-focused investors seeking private-credit exposure and diversification from traditional bond markets.

Material risks include borrower credit and default risk, limited liquidity and valuation uncertainty for private loans, and fund-level leverage and market-cycle sensitivity that can amplify losses.

Risk Score
Medium

Note: The summary and risk score provided above is created by AI and should not be construed as a recommendation of Kalkine.

Key Metrics*

Previous Close
13.62
Dividend Yield
12.92%
Revenue TTM
374.16M
Revenue Per Share
4.35
Gross Profit TTM
374.16M
Debt / Equity
1.19
ROE
3.48%
Net Debt
2005.24M
ROCE
-
Diluted EPS TTM
0.69

Key Financials*

Income Statement

Balance Sheet

Change in Cash

Total Operating Cash

Dividends Paid

Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Income before tax 122.09M 218.00M 232.53M 48.88M 83.33M
Net income 122.09M 215.56M 231.01M 48.54M 83.25M
Selling general administrative 8.30M 7.56M 5.63M 4.15M 4.57M
Selling and marketing expenses - - 47.64M 28.34M 22.23M
Gross profit 313.57M 209.59M 215.25M 33.03M 77.61M
Ebit 0.00M - 155.26M 102.59M 86.91M
Ebitda 258.23M 218.00M 232.53M 48.88M 83.33M
Depreciation and amortization 30.90M - 188.64M 115.07M 17.36M
Operating income 258.09M 218.00M 232.53M 48.88M 83.33M
Other operating expenses 128.90M 114.52M 95.60M 51.34M 15.29M
Interest expense 136.13M 122.93M 112.88M 67.18M 21.02M
Tax provision 2.81M 2.44M 1.52M 0.33M 0.08M
Interest income 387.83M 407.13M 359.81M 224.75M 109.30M
Net interest income 251.70M 284.20M 246.92M 157.56M 88.28M
Income tax expense - 2.44M 1.52M 0.33M 0.08M
Total revenue 386.99M 332.52M 328.13M 100.22M 98.62M
Total operating expenses 55.48M -8.41M -17.29M -15.84M -5.73M
Cost of revenue 73.42M 122.93M 112.88M 67.18M 21.02M
Total other income expense net -136.00M 218.00M -112.88M -67.18M 83.42M
Net income from continuing ops 122.09M 215.56M 231.01M 48.54M 83.25M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total assets 3920.10M 3912.02M 3306.73M 2986.12M 2493.27M
Other current assets - -0.47M 3306.73M 2986.12M 2493.27M
Total liab 2172.01M 2069.86M 1585.58M 1588.82M 1304.69M
Total stockholder equity 1748.09M 1842.16M 1721.15M 1397.31M 1188.59M
Other current liab 16.97M -74.63M 16.65M -1573.55M 1304.69M
Common stock 0.09M 0.09M 0.08M 0.07M 0.06M
Capital stock 0.09M 0.09M 0.08M 0.07M 0.06M
Retained earnings -19.62M 29.62M 8.46M -54.78M 15.78M
Other assets 3812.24M 3809.09M -6599.10M -5964.58M -4974.69M
Cash 81.43M 70.37M 69.70M 81.22M 74.15M
Total current liabilities 81.14M 74.63M 68.80M 50.08M 32.97M
Net debt 2005.24M 1903.11M 1426.33M 1442.26M 1175.70M
Short term debt - - 1496.03M 1523.47M 1249.85M
Short long term debt total 2086.67M 1973.48M 1496.03M 1523.47M 1249.85M
Other stockholder equity 1767.62M 1812.44M 1712.61M 1452.01M 1172.75M
Total current assets 107.86M 101.40M 98.80M 104.87M 94.04M
Long term investments 3771.55M 3791.49M 3193.56M 2873.59M 2387.37M
Short term investments - 2.00M - - -
Net receivables 26.42M 31.02M 29.10M 23.66M 19.89M
Accounts payable 64.17M 74.63M 68.80M 50.08M 32.97M
Accumulated other comprehensive income - - 1721.15M 1397.31M 1188.59M
Non currrent assets other 40.70M 3810.62M 3207.93M 2881.25M 2399.23M
Non current assets total 3812.24M 3810.62M 3207.93M 2881.25M 2399.23M
Breakdown 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Type yearly yearly yearly yearly yearly
Date 2025-12-31 2024-12-31 2023-12-31 2022-12-31 2021-12-31
Total cashflows from investing activities 0.30M -575.01M -269.60M -551.43M -1728.98M
Net borrowings 105.34M 477.47M -30.00M 281.32M 916.00M
Total cash from financing activities -132.90M 376.19M 72.31M 436.90M 1724.18M
Net income 122.09M 215.56M 231.01M 48.54M 83.25M
Change in cash 18.04M 2.67M -11.51M 7.06M 62.89M
Begin period cash flow 63.40M 69.70M 81.22M 74.15M 11.26M
End period cash flow 81.43M 72.37M 69.70M 81.22M 74.15M
Total cash from operating activities 150.90M 201.47M 185.78M 121.59M 67.69M
Issuance of capital stock - 95.89M 222.75M 254.59M 854.61M
Depreciation 30.90M - - - -
Other cashflows from investing activities - - 362.49M - -
Dividends paid 184.03M 169.08M 110.50M 85.75M 38.22M
Change to account receivables 4.13M -1.67M -7.97M -9.17M -9.46M
Sale purchase of stock -42.13M -18.06M 0.00M 0.00M -
Other cashflows from financing activities -12.09M -10.02M -9.94M -13.27M -8.21M
Capital expenditures 0.00M 0.00M 0.00M 0.00M 0.00M
Change in working capital 3.23M 1.58M -0.69M 2.43M 3.13M
Other non cash items 25.57M -15.68M -44.54M 70.62M -18.70M
Free cash flow 150.90M 201.47M 185.78M 121.59M 67.69M

Peer Comparison*

Sector: Financial Services Industry: Asset Management

Stock Name
Change
(USD)
Price
(USD)
Trailing
PE (x)
Forward
PE (x)
Price Sales
TTM (x)
Price to Book Value (x)
Enterprise Value
to Revenue (x)
MSDL
Morgan Stanley Direct Lending Fund		 0.23
1.69%		 13.85 21.35 7.87 3.31 0.75 44.43
BLK
BlackRock Inc		 33.95
2.88%		 1212.82 26.25 19.57 6.33 2.90 6.35
BX
Blackstone Group Inc		 4.89
4.09%		 124.39 33.20 20.12 11.05 11.56 9.14
IVSBF
Investor AB ser. B		 -1.61
3.64%		 42.50 4.67 3.83 3.78 1.13 4.15
KKR
KKR & Co. Inc.		 1.46
1.51%		 97.94 32.68 13.66 3.58 3.22 0.68

Profile*

Morgan Stanley Direct Lending Fund

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.

1585 Broadway, New York, NY, United States, 10036

212 761 7160

Name Title Year Born
Mr. David Pessah Chief Financial Officer 1986
Mr. Michael Occi Jr. CEO & Director 1984
Ms. Orit Mizrachi CPA Co- President & COO 1973
Mr. Jeffrey M. Day Co-President 1977
Mr. Ashwin Krishnan Chief Investment Officer 1977
Ms. Sanna Johnson Head of Investor Relations NA
Ms. Hope Lynne Brown Saxton Chief Compliance Officer 1974
Ms. Erin Hood Secretary NA

Disclaimer - (*)This information, including any data, is sourced from Unicorn Data Services SAS, trading as EOD Historical Data (“EODHD”) on an ‘as is’ basis, using their API. We cannot guarantee the completeness or validity of the information and data provided on this page, as well as via the API. In some cases, the data may include analyst ratings or recommendations sourced through the EODHD API, which are intended solely for general information purposes.
This information does not consider your personal objectives, financial situation, or needs. Kalkine is not liable for any errors or omissions in the information provided or for any actions taken in reliance on it. You should seek advice from a financial adviser, stockbroker or other professional adviser (including taxation and legal advice) as necessary before acting on this information.

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