Morgan Stanley Direct Lending Fund (MSDL) EV to EBIT (2024 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly EV to EBIT came in at 30.74 in Q2 2026, down 12.93% year-over-year from 35.3 in Q2 2025, and up 16.51% quarter-over-quarter from 26.38 in Q1 2026.
Analysis
Morgan Stanley Direct Lending Fund (MSDL) EV to EBIT (2024 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported EV to EBIT for 3 consecutive years, with 30.74 the latest figure, recorded in Q2 2026.
- On a quarterly basis, EV to EBIT fell 12.93% year-over-year to 30.74 in Q2 2026; TTM through Jun 2026 was 7.11, a 7.39% decrease from a year earlier, with the FY2025 full-year figure at 7.42, down 5.89% from the prior year.
- EV to EBIT was 30.74 for Q2 2026 at Morgan Stanley Direct Lending Fund, up from 26.38 in the prior quarter.
- Over five years, EV to EBIT peaked at 36.01 in Q1 2025 and troughed at 26.38 in Q1 2026.
- A 3-year average of 31.71 and a median of 31.78 in 2026 frame the typical range for EV to EBIT.
- Across the five-year window, EV to EBIT grew 7.55% in 2025 and decreased 26.74% in 2026, its largest moves.
- Over 3 years, EV to EBIT stood at 33.95 in 2024, then slipped by 11.12% to 30.17 in 2025, then rose by 1.88% to 30.74 in 2026.
- The last three EV to EBIT figures came in at 30.74 (Q2 2026), 26.38 (Q1 2026), and 30.17 (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
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 30.74 |
| Mar 31, 2026 | 26.38 |
| Dec 31, 2025 | 30.17 |
| Sep 30, 2025 | 29.92 |
| Jun 30, 2025 | 35.30 |
| Mar 31, 2025 | 36.01 |
| Dec 31, 2024 | 33.95 |
| Sep 30, 2024 | 28.20 |
| Jun 30, 2024 | 32.82 |
| Mar 31, 2024 | 33.60 |