Morgan Stanley Direct Lending Fund (MSDL) Equity Income (2022 - 2025)

Morgan Stanley Direct Lending Fund's (MSDL) quarterly Equity Income came in at -$268000.0 in Q4 2025, down 127.13% year-on-year from $988000.0 in Q4 2024, and up 98.32% on a QoQ basis from -$15.9 million in Q3 2025.

Morgan Stanley Direct Lending Fund (MSDL) Equity Income (2022 - 2025) Analysis & Trends

Morgan Stanley Direct Lending Fund (MSDL) has 4 years of Equity Income data on file, last reported at -$268000.0 in Q4 2025.

  • On a quarterly basis, Equity Income fell 127.13% year-over-year to -$268000.0 in Q4 2025; TTM through Mar 2026 was -$16.2 million, a 274.19% decrease from a year earlier, with the FY2025 full-year figure at -$450000.0, down 103.78% from the prior year.
  • Equity Income for Q4 2025 stood at -$268000.0, up from -$15.9 million in the prior quarter.
  • Over the last five years, Equity Income for MSDL reached as high as $22.8 million in Q3 2023 and fell as low as -$33.1 million in Q2 2022.
  • Historically, Equity Income has averaged -$3.6 million across 4 years, with a median of -$2000.0 in 2025.
  • Across the five-year window, Equity Income soared 193.6% in 2023 and tumbled 392.34% in 2025, its largest moves.
  • Year by year, Equity Income stood at -$18.1 million in 2022, then jumped by 110.62% to $1.9 million in 2023, then sank by 48.7% to $988000.0 in 2024, then plunged by 127.13% to -$268000.0 in 2025.
  • Per Business Quant data, the three most recent Equity Income figures were -$268000.0 in Q4 2025, -$15.9 million in Q3 2025, and -$2000.0 in Q2 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Equity Income (Qtr)
1 Brookfield 1,236.60 Bn 1,311.20 Bn 18.56 Bn -
2 BlackRock 161.01 Bn 148.08 Bn - -
3 Blackstone 97.77 Bn 96.72 Bn - -
4 Apollo Global Management 70.80 Bn 90.38 Bn -409.00 Mn -
5 State Street 51.30 Bn 51.30 Bn - -
6 Ameriprise Financial 48.54 Bn 39.27 Bn 4.57 Bn -
7 Northern Trust 32.93 Bn 32.93 Bn - -
8 Raymond James Financial 32.59 Bn 17.67 Bn - -
9 Price T Rowe 24.70 Bn 21.13 Bn - -
10 Morgan Stanley Direct Lending Fund 1.29 Bn 1.19 Bn - -

Historic Data

Download Data
DateValue
Dec 31, 2025 -268,000.00
Sep 30, 2025 -15.91 Mn
Jun 30, 2025 -2,000.00
Mar 31, 2025 42,000.00
Dec 31, 2024 988,000.00
Sep 30, 2024 5.44 Mn
Jun 30, 2024 2.82 Mn
Dec 31, 2023 1.93 Mn
Sep 30, 2023 22.83 Mn
Jun 30, 2023 8.65 Mn
Mar 31, 2023 -567,000.00
Dec 31, 2022 -18.14 Mn
Sep 30, 2022 -24.39 Mn
Jun 30, 2022 -33.14 Mn
Mar 31, 2022 -4.34 Mn