Morgan Stanley Direct Lending Fund (MSDL) Net Income (2022 - 2026)

Morgan Stanley Direct Lending Fund's (MSDL) quarterly Net Income came in at $9.0 million in Q1 2026, down 2.92% year-on-year from $9.3 million in Q1 2025, and up 113.01% on a QoQ basis from -$69.3 million in Q4 2025.

Morgan Stanley Direct Lending Fund (MSDL) Net Income (2022 - 2026) Analysis & Trends

Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Net Income data on file, last reported at $9.0 million in Q1 2026.

  • On a quarterly basis, Net Income fell 2.92% year-over-year to $9.0 million in Q1 2026; TTM through Mar 2026 was -$41.5 million, a 156.49% decrease from a year earlier, with the FY2025 full-year figure at $37.1 million, down 60.91% from the prior year.
  • Net Income for Q1 2026 stood at $9.0 million, up from -$69.3 million in the prior quarter.
  • Over the last five years, Net Income for MSDL reached as high as $54.0 million in Q4 2023 and fell as low as -$69.3 million in Q4 2025.
  • Historically, Net Income has averaged $13.9 million across 5 years, with a median of $15.6 million in 2022.
  • Across the five-year window, Net Income jumped 67.13% in 2024 and tumbled 665.96% in 2025, its largest moves.
  • Year by year, Net Income stood at $32.4 million in 2022, then surged by 66.32% to $54.0 million in 2023, then sank by 77.32% to $12.2 million in 2024, then tumbled by 665.96% to -$69.3 million in 2025, then surged by 113.01% to $9.0 million in 2026.
  • Per Business Quant data, the three most recent Net Income figures were $9.0 million in Q1 2026, -$69.3 million in Q4 2025, and $9.8 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Net Income (Qtr)
1 Brookfield 1,236.60 Bn 1,311.20 Bn 18.56 Bn 33.10 Bn
2 BlackRock 161.01 Bn 148.08 Bn - 2.33 Bn
3 Blackstone 97.77 Bn 96.72 Bn - 1.26 Bn
4 Apollo Global Management 70.80 Bn 90.38 Bn -409.00 Mn -1.41 Bn
5 State Street 51.30 Bn 51.30 Bn - 764.00 Mn
6 Ameriprise Financial 48.54 Bn 39.27 Bn 4.57 Bn 915.00 Mn
7 Northern Trust 32.93 Bn 32.93 Bn - 525.50 Mn
8 Raymond James Financial 32.59 Bn 17.67 Bn - 544.00 Mn
9 Price T Rowe 24.70 Bn 21.13 Bn - 484.10 Mn
10 Morgan Stanley Direct Lending Fund 1.29 Bn 1.19 Bn - 9.01 Mn

Historic Data

Download Data
DateValue
Mar 31, 2026 9.01 Mn
Dec 31, 2025 -69.26 Mn
Sep 30, 2025 9.83 Mn
Jun 30, 2025 8.95 Mn
Mar 31, 2025 9.28 Mn
Dec 31, 2024 12.24 Mn
Sep 30, 2024 25.58 Mn
Jun 30, 2024 26.32 Mn
Mar 31, 2024 18.66 Mn
Dec 31, 2023 53.95 Mn
Sep 30, 2023 20.89 Mn
Jun 30, 2023 19.89 Mn
Mar 31, 2023 11.16 Mn
Dec 31, 2022 32.44 Mn
Sep 30, 2022 15.21 Mn
Jun 30, 2022 15.63 Mn
Mar 31, 2022 16.17 Mn