Morgan Stanley Direct Lending Fund (MSDL) Amortizatization of Intangibles (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) reported Amortizatization of Intangibles of $3.5 million for Q1 2026, down 18.15% year-over-year from $4.3 million in Q1 2025, and up 2.84% on a QoQ basis from $3.4 million in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Amortizatization of Intangibles data on file, last reported at $3.5 million in Q1 2026.
- Quarterly Amortizatization of Intangibles fell 18.15% year-over-year to $3.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $14.9 million (down 9.37% YoY) and the FY2025 annual result came in at $15.7 million, up 5.53% from the prior year.
- Amortizatization of Intangibles rose to $3.5 million in Q1 2026 per MSDL's latest filing, from $3.4 million in the prior quarter.
- Across five years, Amortizatization of Intangibles topped out at $4.7 million in Q3 2024 and bottomed at $2.0 million in Q1 2022.
- The 5-year median for Amortizatization of Intangibles is $3.4 million (2025), against an average of $3.3 million.
- The widest annual swing landed in 2023, when Amortizatization of Intangibles plunged 40.59%; it then surged 118.11% in 2024.
- Tracing MSDL's Amortizatization of Intangibles over 5 years: stood at $2.5 million in 2022, then surged by 60.34% to $4.0 million in 2023, then fell by 26.45% to $3.0 million in 2024, then increased by 15.35% to $3.4 million in 2025, then rose by 2.84% to $3.5 million in 2026.
- Per Business Quant, the three latest MSDL Amortizatization of Intangibles figures stand at $3.5 million (Q1 2026), $3.4 million (Q4 2025), and $4.1 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Amortizatization of Intangibles (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 43.00 Mn |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | 9.00 Mn |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | - |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | - |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | 65.00 Mn |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | 57.00 Mn |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | - |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | 19.70 Mn |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | - |
| 10 | Morgan Stanley Direct Lending Fund | - | - | - | 3.52 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 3.52 Mn |
| Mar 31, 2026 | 3.52 Mn |
| Dec 31, 2025 | 3.42 Mn |
| Dec 31, 2025 | 3.42 Mn |
| Sep 30, 2025 | 4.12 Mn |
| Sep 30, 2025 | 4.12 Mn |
| Jun 30, 2025 | 3.86 Mn |
| Jun 30, 2025 | 3.86 Mn |
| Mar 31, 2025 | 4.30 Mn |
| Mar 31, 2025 | 4.30 Mn |
| Dec 31, 2024 | 2.97 Mn |
| Dec 31, 2024 | 2.97 Mn |
| Sep 30, 2024 | 4.66 Mn |
| Sep 30, 2024 | 4.66 Mn |
| Jun 30, 2024 | 4.53 Mn |
| Jun 30, 2024 | 4.53 Mn |
| Mar 31, 2024 | 2.71 Mn |
| Mar 31, 2024 | 2.71 Mn |
| Dec 31, 2023 | 4.03 Mn |
| Dec 31, 2023 | 4.03 Mn |
| Sep 30, 2023 | 2.14 Mn |
| Sep 30, 2023 | 2.14 Mn |
| Jun 30, 2023 | 2.62 Mn |
| Jun 30, 2023 | 2.62 Mn |
| Mar 31, 2023 | 2.53 Mn |
| Mar 31, 2023 | 2.53 Mn |
| Dec 31, 2022 | 2.51 Mn |
| Dec 31, 2022 | 2.51 Mn |
| Sep 30, 2022 | 3.60 Mn |
| Sep 30, 2022 | 3.60 Mn |
| Jun 30, 2022 | 3.33 Mn |
| Jun 30, 2022 | 3.33 Mn |
| Mar 31, 2022 | 1.98 Mn |
| Mar 31, 2022 | 1.98 Mn |