Growth Metrics

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

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DateValue
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