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
DateValue
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