Morgan Stanley Direct Lending Fund MSDL
NYSE MSDL
$14.76 -0.28 (-1.90%)
As of: Sep 9, 2026 · 3:59 PM EDT

Morgan Stanley Direct Lending Fund (MSDL) EV to CFO (2024 - 2026)

Morgan Stanley Direct Lending Fund's (MSDL) quarterly EV to CFO came in at 11.54 in Q2 2026, down 82.09% year-over-year from 64.43 in Q2 2025, and down 8.68% quarter-over-quarter from 12.63 in Q1 2026.

Analysis

Morgan Stanley Direct Lending Fund (MSDL) EV to CFO (2024 - 2026) Analysis & Trends

Morgan Stanley Direct Lending Fund (MSDL) has reported EV to CFO for 3 consecutive years, with 11.54 the latest figure, recorded in Q2 2026.

  • On a quarterly basis, EV to CFO fell 82.09% year-over-year to 11.54 in Q2 2026; TTM through Jun 2026 was 4.23, a 144.85% increase from a year earlier, with the FY2025 full-year figure at 8.8, up 291.59% from the prior year.
  • EV to CFO was 11.54 for Q2 2026 at Morgan Stanley Direct Lending Fund, down from 12.63 in the prior quarter.
  • Over five years, EV to CFO peaked at 64.43 in Q2 2025 and troughed at 34.5 in Q1 2024.
  • A 3-year average of 11.37 and a median of 12.08 in 2026 frame the typical range for EV to CFO.
  • Across the five-year window, EV to CFO surged 469.76% in 2025 and tumbled 82.09% in 2026, its largest moves.
  • Over 3 years, EV to CFO stood at 16.7 in 2024, then soared by 247.86% to 24.69 in 2025, then tumbled by 53.28% to 11.54 in 2026.
  • The last three EV to CFO figures came in at 11.54 (Q2 2026), 12.63 (Q1 2026), and 24.69 (Q4 2025), per Business Quant data.
Peer Set

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr)
1 Ares Capital 14.12 Bn 13.73 Bn -
2 Blackstone Secured Lending Fund 5.69 Bn 5.42 Bn -
3 Blue Owl Capital 5.52 Bn 5.28 Bn -
4 Main Street Capital 5.26 Bn 5.20 Bn -
5 Blue Owl Technology Finance 5.05 Bn 4.84 Bn -
6 Hercules Capital 4.64 Bn 4.59 Bn -
7 FS KKR Capital 3.37 Bn 3.27 Bn -
8 Golub Capital Bdc 3.34 Bn 3.30 Bn -
9 PennantPark Floating Rate Capital 2.48 Bn -129.09 Mn -
10 Morgan Stanley Direct Lending Fund 1.25 Bn 1.17 Bn -
Historic Data

Historic Data

Download Data
DateValue
Jun 30, 2026 11.54
Mar 31, 2026 12.63
Dec 31, 2025 24.69
Sep 30, 2025 33.85
Jun 30, 2025 64.43
Mar 31, 2025 49.48
Dec 31, 2024 -16.70
Sep 30, 2024 -14.27
Jun 30, 2024 -17.42
Mar 31, 2024 -34.50