Morgan Stanley Direct Lending Fund (MSDL) FCF Payout Ratio (2022 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly FCF Payout Ratio came in at 0.5 in Q1 2026, down 67.94% year-on-year from 1.56 in Q1 2025, and down 38.13% on a QoQ basis from 0.81 in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) FCF Payout Ratio (2022 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has 5 years of FCF Payout Ratio data on file, last reported at 0.5 in Q1 2026.
- On a quarterly basis, FCF Payout Ratio fell 67.94% year-over-year to 0.5 in Q1 2026; TTM through Mar 2026 was 0.86, a 236.46% increase from a year earlier, with the FY2025 full-year figure at 1.22, up 375.9% from the prior year.
- FCF Payout Ratio for Q1 2026 stood at 0.5, down from 0.81 in the prior quarter.
- Over the last five years, FCF Payout Ratio for MSDL reached as high as 2.88 in Q2 2023 and fell as low as 1.46 in Q1 2023.
- Historically, FCF Payout Ratio has averaged 0.32 across 5 years, with a median of 0.18 in 2022.
- On a YoY basis, FCF Payout Ratio climbed as much as 1971.42% in 2023 and fell as far as 723.97% in 2023.
- Year by year, FCF Payout Ratio stood at 0.41 in 2022, then jumped by 432.46% to 1.36 in 2023, then sank by 137.39% to 0.51 in 2024, then surged by 258.89% to 0.81 in 2025, then tumbled by 38.13% to 0.5 in 2026.
- Per Business Quant data, the three most recent FCF Payout Ratio figures were 0.5 in Q1 2026, 0.81 in Q4 2025, and 1.11 in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF Cover (Qtr) |
|---|---|---|---|---|---|
| 1 | Brookfield | 1,236.60 Bn | 1,311.20 Bn | 18.56 Bn | - |
| 2 | BlackRock | 161.01 Bn | 148.08 Bn | - | -0.90 |
| 3 | Blackstone | 97.77 Bn | 96.72 Bn | - | 2.00 |
| 4 | Apollo Global Management | 70.80 Bn | 90.38 Bn | -409.00 Mn | 0.19 |
| 5 | State Street | 51.30 Bn | 51.30 Bn | - | -0.02 |
| 6 | Ameriprise Financial | 48.54 Bn | 39.27 Bn | 4.57 Bn | 0.34 |
| 7 | Northern Trust | 32.93 Bn | 32.93 Bn | - | -0.45 |
| 8 | Raymond James Financial | 32.59 Bn | 17.67 Bn | - | 0.10 |
| 9 | Price T Rowe | 24.70 Bn | 21.13 Bn | - | 0.38 |
| 10 | Morgan Stanley Direct Lending Fund | 1.29 Bn | 1.19 Bn | - | 0.50 |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | 0.50 |
| Dec 31, 2025 | 0.81 |
| Sep 30, 2025 | 1.11 |
| Jun 30, 2025 | 1.83 |
| Mar 31, 2025 | 1.56 |
| Dec 31, 2024 | -0.51 |
| Sep 30, 2024 | -0.38 |
| Jun 30, 2024 | -0.32 |
| Mar 31, 2024 | -0.69 |
| Dec 31, 2023 | 1.36 |
| Sep 30, 2023 | -0.30 |
| Jun 30, 2023 | 2.88 |
| Mar 31, 2023 | -1.46 |
| Dec 31, 2022 | -0.41 |
| Sep 30, 2022 | -0.18 |
| Jun 30, 2022 | -0.15 |
| Mar 31, 2022 | -0.18 |