Morgan Stanley Direct Lending Fund (MSDL) Debt Ratio (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) posted quarterly Debt Ratio of 0.54 for Q1 2026, up 4.53% year-over-year from 0.51 in Q1 2025, and up 0.84% quarter-over-quarter from 0.53 in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) Debt Ratio (2022 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported Debt Ratio for 5 consecutive years, with 0.54 the latest figure, recorded in Q1 2026.
- In Q1 2026, Debt Ratio rose 4.53% year-over-year to 0.54; the TTM figure through Mar 2026 stood at 0.54 (up 4.53% YoY), while the FY2025 annual figure was 0.53, up 5.52% from the prior year.
- Debt Ratio rose to 0.54 in Q1 2026 per MSDL's latest filing, from 0.53 in the prior quarter.
- Across five years, Debt Ratio topped out at 0.54 in Q1 2026 and bottomed at 0.44 in Q1 2024.
- Historically, Debt Ratio has averaged 0.5 across 5 years, with a median of 0.51 in 2022.
- Annual changes were most pronounced in 2024 — Debt Ratio dropped 15.58% — and 2025, when it climbed 17.49%.
- Morgan Stanley Direct Lending Fund's Debt Ratio stood at 0.51 in 2022, then retreated by 11.32% to 0.45 in 2023, then climbed by 11.5% to 0.5 in 2024, then increased by 5.52% to 0.53 in 2025, then grew by 0.84% to 0.54 in 2026.
- Business Quant data shows MSDL's Debt Ratio at 0.54 in Q1 2026, 0.53 in Q4 2025, and 0.53 in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 0.12 |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 0.26 |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | - |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | 0.03 |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 0.17 |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 0.03 |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | - |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 0.00 |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 0.05 |
| 10 | Morgan Stanley Direct Lending Fund | 1.30 Bn | 1.22 Bn | - | 0.53 |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 0.53 |
| Mar 31, 2026 | 0.54 |
| Dec 31, 2025 | 0.53 |
| Sep 30, 2025 | 0.53 |
| Jun 30, 2025 | 0.52 |
| Mar 31, 2025 | 0.51 |
| Dec 31, 2024 | 0.50 |
| Sep 30, 2024 | 0.49 |
| Jun 30, 2024 | 0.46 |
| Mar 31, 2024 | 0.44 |
| Dec 31, 2023 | 0.45 |
| Sep 30, 2023 | 0.52 |
| Jun 30, 2023 | 0.51 |
| Mar 31, 2023 | 0.52 |
| Dec 31, 2022 | 0.51 |