Morgan Stanley Direct Lending Fund (MSDL) EBT (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) posted quarterly EBT of $9.8 million for Q1 2026, down 0.65% year-over-year from $9.9 million in Q1 2025, and up 114.55% quarter-over-quarter 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 reported EBT for 5 consecutive years, with $9.8 million the latest figure, recorded in Q1 2026.
- In Q1 2026, EBT fell 0.65% year-over-year to $9.8 million; the TTM figure through Mar 2026 stood at -$38.5 million (down 944.01% YoY), while the FY2025 annual figure was $39.9 million, down 59.0% from the prior year.
- EBT improved to $9.8 million in Q1 2026 per MSDL's latest filing, from -$67.7 million in the prior quarter.
- Across five years, EBT topped out at $55.5 million in Q4 2023 and bottomed at -$67.7 million in Q4 2025.
- Historically, EBT has averaged $9.0 million across 5 years, with a median of $15.2 million in 2022.
- Annual changes were most pronounced in 2023 — EBT jumped 301.35% — and 2024, when it sank 205.01%.
- Morgan Stanley Direct Lending Fund's EBT stood at $13.8 million in 2022, then surged by 301.35% to $55.5 million in 2023, then tumbled by 205.01% to -$58.2 million in 2024, then declined by 16.19% to -$67.7 million in 2025, then jumped by 114.55% to $9.8 million in 2026.
- Business Quant data shows MSDL's EBT at $9.8 million in Q1 2026, -$67.7 million in Q4 2025, and $10.2 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | EBT (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 2.72 Bn |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 2.81 Bn |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | 1.37 Bn |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | - |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 1.33 Bn |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 2.49 Bn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | 1.39 Bn |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 1.44 Bn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 1.06 Bn |
| 10 | Morgan Stanley Direct Lending Fund | 1.30 Bn | 1.22 Bn | - | 6.94 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 6.94 Mn |
| 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 | -58.25 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 | 13.82 Mn |
| Sep 30, 2022 | 15.21 Mn |
| Jun 30, 2022 | 15.63 Mn |
| Mar 31, 2022 | 16.17 Mn |