Morgan Stanley Direct Lending Fund (MSDL) EBIT Margin (2022 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly EBIT Margin came in at 43.89% in Q2 2026, down 19.0% year-over-year from 54.18% in Q2 2025, and down 5.46% quarter-over-quarter from 46.42% in Q1 2026.
Analysis
Morgan Stanley Direct Lending Fund (MSDL) EBIT Margin (2022 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported EBIT Margin for 5 consecutive years, with 43.89% the latest figure, recorded in Q2 2026.
- On a quarterly basis, EBIT Margin fell 19.0% year-over-year to 43.89% in Q2 2026; TTM through Jun 2026 was 45.02%, a 373.0% decrease from a year earlier, with the FY2025 full-year figure at 45.02%, down 850.0% from the prior year.
- EBIT Margin was 43.89% for Q2 2026 at Morgan Stanley Direct Lending Fund, down from 46.42% in the prior quarter.
- Over five years, EBIT Margin peaked at 59.85% in Q1 2022 and troughed at 43.89% in Q2 2026.
- A 5-year average of 51.46% and a median of 53.21% in 2023 frame the typical range for EBIT Margin.
- Across the five-year window, EBIT Margin jumped 409 bps in 2023 and plunged 1027 bps in 2025, its largest moves.
- Over 5 years, EBIT Margin stood at 52.47% in 2022, then rose by 8 bps to 56.56% in 2023, then dropped by 11 bps to 50.21% in 2024, then slipped by 9 bps to 45.55% in 2025, then retreated by 4 bps to 43.89% in 2026.
- The last three EBIT Margin figures came in at 43.89% (Q2 2026), 46.42% (Q1 2026), and 45.55% (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBIT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.05 Bn | 13.66 Bn | - | 47.79% |
| 2 | Blackstone Secured Lending Fund | 5.64 Bn | 5.37 Bn | - | 55.61% |
| 3 | Blue Owl Capital | 5.48 Bn | 5.25 Bn | - | 44.07% |
| 4 | Main Street Capital | 5.23 Bn | 5.17 Bn | - | 62.71% |
| 5 | Blue Owl Technology Finance | 4.98 Bn | 4.77 Bn | - | 41.14% |
| 6 | Hercules Capital | 4.62 Bn | 4.57 Bn | - | 62.31% |
| 7 | FS KKR Capital | 3.34 Bn | 3.23 Bn | - | - |
| 8 | Golub Capital Bdc | 3.31 Bn | 3.26 Bn | - | 45.39% |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -128.99 Mn | - | 8.79% |
| 10 | Morgan Stanley Direct Lending Fund | 1.25 Bn | 1.17 Bn | - | 43.89% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 43.89% |
| Mar 31, 2026 | 46.42% |
| Dec 31, 2025 | 45.55% |
| Sep 30, 2025 | 44.26% |
| Jun 30, 2025 | 44.07% |
| Mar 31, 2025 | 46.18% |
| Dec 31, 2024 | 50.21% |
| Sep 30, 2024 | 53.97% |
| Jun 30, 2024 | 54.35% |
| Mar 31, 2024 | 55.59% |
| Dec 31, 2023 | 56.56% |
| Sep 30, 2023 | 53.55% |
| Jun 30, 2023 | 53.77% |
| Mar 31, 2023 | 52.87% |
| Dec 31, 2022 | 52.47% |
| Sep 30, 2022 | 53.91% |
| Jun 30, 2022 | 58.83% |
| Mar 31, 2022 | 59.85% |