Morgan Stanley Direct Lending Fund (MSDL) EBT (2022 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly EBT came in at $9.8 million in Q1 2026, down 0.65% year-on-year from $9.9 million in Q1 2025, and up 114.55% on a QoQ basis from -$67.7 million in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) EBT (2022 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has 5 years of EBT data on file, last reported at $9.8 million in Q1 2026.
- On a quarterly basis, EBT fell 0.65% year-over-year to $9.8 million in Q1 2026; TTM through Mar 2026 was -$38.5 million, a 150.57% decrease from a year earlier, with the FY2025 full-year figure at $39.9 million, down 59.0% from the prior year.
- EBT for Q1 2026 stood at $9.8 million, up from -$67.7 million in the prior quarter.
- Over the last five years, EBT for MSDL reached as high as $55.5 million in Q4 2023 and fell as low as -$67.7 million in Q4 2025.
- Historically, EBT has averaged $14.3 million across 5 years, with a median of $15.6 million in 2022.
- Across the five-year window, EBT surged 71.04% in 2024 and slumped 611.23% in 2025, its largest moves.
- Year by year, EBT stood at $32.4 million in 2022, then jumped by 71.0% to $55.5 million in 2023, then slumped by 76.13% to $13.2 million in 2024, then slumped by 611.23% to -$67.7 million in 2025, then soared by 114.55% to $9.8 million in 2026.
- Per Business Quant data, the three most recent EBT figures were $9.8 million in Q1 2026, -$67.7 million in Q4 2025, and $10.2 million in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT (Qtr) |
|---|---|---|---|---|---|
| 1 | Brookfield | 1,236.60 Bn | 1,311.20 Bn | 18.56 Bn | 32.70 Bn |
| 2 | BlackRock | 161.01 Bn | 148.08 Bn | - | 2.84 Bn |
| 3 | Blackstone | 97.77 Bn | 96.72 Bn | - | 1.46 Bn |
| 4 | Apollo Global Management | 70.80 Bn | 90.38 Bn | -409.00 Mn | 283.00 Mn |
| 5 | State Street | 51.30 Bn | 51.30 Bn | - | 969.00 Mn |
| 6 | Ameriprise Financial | 48.54 Bn | 39.27 Bn | 4.57 Bn | 1.14 Bn |
| 7 | Northern Trust | 32.93 Bn | 32.93 Bn | - | 700.60 Mn |
| 8 | Raymond James Financial | 32.59 Bn | 17.67 Bn | - | 735.00 Mn |
| 9 | Price T Rowe | 24.70 Bn | 21.13 Bn | - | 632.20 Mn |
| 10 | Morgan Stanley Direct Lending Fund | 1.29 Bn | 1.19 Bn | - | 9.85 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 9.85 Mn |
| Dec 31, 2025 | -67.68 Mn |
| Sep 30, 2025 | 10.23 Mn |
| Jun 30, 2025 | 9.15 Mn |
| Mar 31, 2025 | 9.91 Mn |
| Dec 31, 2024 | 13.24 Mn |
| Sep 30, 2024 | 26.08 Mn |
| Jun 30, 2024 | 26.82 Mn |
| Mar 31, 2024 | 19.09 Mn |
| Dec 31, 2023 | 55.47 Mn |
| Sep 30, 2023 | 20.89 Mn |
| Jun 30, 2023 | 19.89 Mn |
| Mar 31, 2023 | 11.16 Mn |
| Dec 31, 2022 | 32.44 Mn |
| Sep 30, 2022 | 15.21 Mn |
| Jun 30, 2022 | 15.63 Mn |
| Mar 31, 2022 | 16.17 Mn |