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MSDL stock logo

MSDL

Morgan Stanley Direct Lending Fund

$13.03
-0.26
 (-1.96%)
Exchange:  NYSE
Market Cap:  1.096B
Shares Outstanding:  88.279M
Delayed data
Overview
Earnings
Financials
Valuation
Chart

About The Company

Sector:  Financial ServicesView sector performance
Industry:  Financial – ConglomeratesView industry performance
   
CEO:  Michael Occi
Full Time Employees:  0
Address: 
1585 Broadway
New York City
NY
10036
US
Website:  http://www.msdl.com
Morgan Stanley Direct Lending Fund functions as a business development company (BDC) specializing in finance, primarily providing capital to mid-sized enterprises. Its investment strategy focuses on directly originating and funding senior secured term loans, encompassing both first-lien and second-lien security interests. This entity commenced operations on May 30, 2019, and maintains its principal headquarters in New York City.

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Revenue Segmentation

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Industry Peers

TICKERCOMPANYMKT CAPP/EFWD P/EROIC
MSMSDL logoMSDLMorgan Stanley Direct Lending Fund1.1B19.57.24.5%
DMDMII logoDMIIDrugs Made In America Acquisition II C…648.5M0.3—-0.3%
CCCCXIU logoCCXIUChurchill Capital Corp XI Units465.1M——-14.1%
TMTMS logoTMSTeamshares Inc.397.3M———
RRRREV logoRREVRRE Ventures Acquisition Corp.330.7M248—-1,512.9%
SASAC logoSACSafeguard Acquisition Corp.317.1M88.8—0.0%

EPS

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Earnings Call

Full text

Earnings transcript

Read the complete earnings call transcript.

AI summary

Key takeaways

Short, structured highlights from the call so you can focus on what matters.

2026/08/07 — Q2 quarter 2026

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Income Statement
Balance Sheet
Cash Flow Statement
Analyst Estimates

Income Statement

Year202320242025
Revenue328,129332,522386,993
Gross Profit215,246209,594313,571
EBITDA232,533218,001258,226
Operating Income232,533218,001258,089.999
Net Income231,014215,564122,094

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(* All numbers are in thousands)

Balance Sheet

Year202320242025
Total Assets3,306,7343,912,0183,920,096
Total Liabilities1,585,5832,069,8622,172,007
Total Stockholders Equity1,721,1511,842,1561,748,089
Total Debt1,496,0321,973,4790
Cash and Cash Equivalents69,70572,37281,434

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(* All numbers are in thousands)

Cash Flow Statement

Year202320242025
Operating Cash Flow185,780201,470150,898
Capital Expenditure000
Free Cash Flow185,780201,470150,898
Net Income231,014215,5640
Net Change in Cash-11,5102,66718,038

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(* All numbers are in thousands)

Analyst Estimates

Fiscal Year2028Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Low)294,333.493Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (High)317,651.452Research AccessResearch AccessResearch AccessResearch Access
Estimated Revenue (Avg)305,992.473Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Low)177,091.857Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (High)202,910.544Research AccessResearch AccessResearch AccessResearch Access
Estimated Ebitda (Avg)182,356.411Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Low)139,603.332Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (High)160,000.095Research AccessResearch AccessResearch AccessResearch Access
Estimated Net Income (Avg)143,762.330Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Low)8,775.853Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (High)9,471.102Research AccessResearch AccessResearch AccessResearch Access
Estimated SGA Expense (Avg)9,123.477Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Avg)1.730Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (High)1.830Research AccessResearch AccessResearch AccessResearch Access
Estimated EPS (Low)1.600Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated Revenue)2Research AccessResearch AccessResearch AccessResearch Access
Number of Analysts (Estimated EPS)3Research AccessResearch AccessResearch AccessResearch Access

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(* All numbers are in thousands)

Current Key Metrics

?Revenue
 (TTM)
: 
  ?P/S
 (TTM)
: 
3.67
?Net Income
 (TTM)
: 
  ?P/E
 (TTM)
: 
19.46
?Enterprise Value
 (TTM)
: 
3.05B  ?EV/FCF
 (TTM)
: 
10.78
?Dividend Yield
 (TTM)
: 
13.83%  ?Payout Ratio
 (TTM)
: 
281.92%
?ROE
 (TTM)
: 
3.49%  ?ROIC
 (TTM)
: 
4.45%
?Net Debt
 (TTM)
: 
  ?Debt/Equity
 (TTM)
: 
1.2
?P/B
 (TTM)
: 
0.69  ?Current Ratio
 (TTM)
: 
1.65

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Forward P/E Ratios

?

Forward P/E (Avg EPS estimate) — log in with Research Access for high/low estimates and the interactive table.

Forward P/E 1YResearch AccessResearch AccessResearch AccessResearch Access
7.20Research AccessResearch AccessResearch AccessResearch Access

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SWOT Analysis

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At what price to buy it? -
Intrinsic Value Calculator

Based on current fundamentals and analyst forecasts, MarketSnap estimates MSDL intrinsic value between $15.80 – $22.30 per share. This depends on revenue growth, margins, and discount rate.

This is an automatic estimate. The most reliable way to know fair value for your own assumptions is to run the calculator below.


Calculate MSDL Intrinsic Value

Common questions about MSDL valuation

Is Morgan Stanley Direct Lending Fund (MSDL) overvalued or undervalued right now?

MarketSnap estimates intrinsic value for Morgan Stanley Direct Lending Fund (MSDL) using its proprietary valuation methodology, which incorporates discounted cash flow (DCF) analysis together with long-term earnings and fundamentals assumptions. By comparing intrinsic value to the current market price, long-term investors can see whether the stock screens as potentially overvalued, fairly valued, or undervalued today.

Is MSDL a buy, hold, or sell for long-term investors?

MarketSnap does not give one-word “buy” or “sell” calls. Instead, it shows whether MSDL trades at a premium or discount to its estimated intrinsic value, how sensitive that value is to growth and margin assumptions, and how the stock fits into a diversified, long-term portfolio so investors can make their own buy, hold, or sell decision.

What is MSDL’s P/E ratio?

You can see MSDL’s trailing P/E (TTM) and forward P/E estimates in the Current Key Metrics and Forward P/E Ratios sections above. The P/E ratio compares the current share price to earnings per share and helps investors gauge valuation relative to earnings.

How is intrinsic value calculated for MSDL?

MarketSnap uses its own valuation framework—not a generic spreadsheet DCF alone. Future cash flows and earnings are projected, discounted, and combined with MarketSnap’s methodology so intrinsic value reflects fundamentals and long-term assumptions. You can run your own inputs and see the result using the Intrinsic Value Calculator above.

Is MSDL a good long-term investment?

Whether MSDL fits a long-term portfolio depends on your assumptions about growth, margins, and risk. MarketSnap provides the metrics, intrinsic value calculator, and SWOT context so you can form your own view rather than rely on a single buy/sell rating.

Research tools for Morgan Stanley Direct Lending Fund

  • Morgan Stanley Direct Lending Fund intrinsic value calculatorEstimate what the business is worth
  • Morgan Stanley Direct Lending Fund 5-year outlookWhat has to go right, and what could go wrong
MSDL

1-day price chart preview. Log in for 1W through 5Y ranges and period tabs.

Daily snapshot

-1.96
MarketSnap

Trading Metrics:

Open: 13.25   Previous Close: 13.29
Day Low: 13.03   Day High: 13.33
Year Low: 12.94   Year High: 17.91
Price Avg 50: 14.64   Price Avg 200: 15.15
Volume: 532440   Average Volume: 492465

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See in Nexus

Relevant news

Morgan Stanley Direct Lending Fund (NYSE:MSDL) and Wealthfront (NASDAQ:WLTH) Head to Head Analysis
16-10-2026 02:45
Morgan Stanley Direct Lending Fund (NYSE:MSDL) and Wealthfront (NASDAQ:WLTH) Head to Head Analysis
Morgan Stanley Direct Lending Fund (MSDL) Q2 2026 Earnings Call Transcript
07-08-2026 14:04
Morgan Stanley Direct Lending Fund (MSDL) Q2 2026 Earnings Call Transcript
KBRA Assigns Rating to Morgan Stanley Direct Lending Fund's $350 Million Senior Unsecured Notes
30-06-2026 17:13
KBRA Assigns Rating to Morgan Stanley Direct Lending Fund's $350 Million Senior Unsecured Notes

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