Morgan Stanley Direct Lending Fund (MSDL) EBIT Margin (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) reported EBIT Margin of 1.64% for Q1 2026, down 4455.0% year-over-year from 0.04% in Q1 2025, and down 96.41% on a QoQ basis from 45.55% in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) has 5 years of EBIT Margin data on file, last reported at 1.64% in Q1 2026.
- Quarterly EBIT Margin fell 4455.0% year-over-year to 1.64% in Q1 2026, while the trailing twelve-month figure through Mar 2026 was 34.67% (down 1658.0% YoY) and the FY2025 annual result came in at 45.02%, down 850.0% from the prior year.
- EBIT Margin slipped to 1.64% in Q1 2026 per MSDL's latest filing, from 45.55% in the prior quarter.
- Across five years, EBIT Margin topped out at 59.85% in Q1 2022 and bottomed at 1.64% in Q1 2026.
- The 5-year median for EBIT Margin is 54.12% (2023), against an average of 49.65%.
- The widest annual swing landed in 2023, when EBIT Margin soared 409 bps; it then plunged 4455 bps in 2026.
- Tracing MSDL's EBIT Margin over 5 years: stood at 52.47% in 2022, then increased by 8 bps to 56.56% in 2023, then slipped by 11 bps to 50.21% in 2024, then decreased by 9 bps to 45.55% in 2025, then plunged by 96 bps to 1.64% in 2026.
- Per Business Quant, the three latest MSDL EBIT Margin figures stand at 1.64% (Q1 2026), 45.55% (Q4 2025), and 44.26% (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBIT Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 42.01% |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | 44.01% |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | 46.06% |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | 54.78% |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | 1.56% |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | 73.37% |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | 18.44% |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | 170.02% |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | 26.04% |
| 10 | Morgan Stanley Direct Lending Fund | - | - | - | 1.64% |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 1.64% |
| 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 | 55.59% |
| Jun 30, 2023 | 55.21% |
| Mar 31, 2023 | 54.12% |
| Dec 31, 2022 | 52.47% |
| Sep 30, 2022 | 55.62% |
| Jun 30, 2022 | 58.83% |
| Mar 31, 2022 | 59.85% |