Morgan Stanley Direct Lending Fund (MSDL) Free Cash Flow (2022 - 2026)

Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Free Cash Flow data on file, last reported at $86.3 million in Q1 2026.

• Quarterly Free Cash Flow rose 153.19% year-over-year to $86.3 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was $203.1 million (up 168.92% YoY) and the FY2025 annual result came in at $150.9 million, up 139.45% from the prior year.
• Free Cash Flow grew to $86.3 million in Q1 2026 per MSDL's latest filing, from $53.8 million in the prior quarter.
• Across five years, Free Cash Flow topped out at $86.3 million in Q1 2026 and bottomed at -$132.6 million in Q2 2022.
• The 5-year median for Free Cash Flow is -$53.7 million (2024), against an average of -$38.8 million.
• The widest annual swing landed in 2024, when Free Cash Flow sank 1295.0%; it then surged 163.56% in 2025.
• Tracing MSDL's Free Cash Flow over 5 years: stood at -$54.3 million in 2022, then jumped by 142.22% to $22.9 million in 2023, then sank by 558.31% to -$105.2 million in 2024, then jumped by 151.12% to $53.8 million in 2025, then soared by 60.63% to $86.3 million in 2026.
• Per Business Quant, the three latest MSDL Free Cash Flow figures stand at $86.3 million (Q1 2026), $53.8 million (Q4 2025), and $39.0 million (Q3 2025).

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