Morgan Stanley Direct Lending Fund (MSDL) Net Income (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) posted quarterly Net Income of $9.0 million for Q1 2026, down 2.92% year-over-year from $9.3 million in Q1 2025, and up 113.01% quarter-over-quarter 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 reported Net Income for 5 consecutive years, with $9.0 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Net Income fell 2.92% year-over-year to $9.0 million; the TTM figure through Mar 2026 stood at -$41.5 million (down 2251.14% YoY), while the FY2025 annual figure was $37.1 million, down 60.91% from the prior year.
- Net Income grew to $9.0 million in Q1 2026 per MSDL's latest filing, from -$69.3 million in the prior quarter.
- Across five years, Net Income topped out at $54.0 million in Q4 2023 and bottomed at -$69.3 million in Q4 2025.
- Historically, Net Income has averaged $8.6 million across 5 years, with a median of $15.2 million in 2022.
- Annual changes were most pronounced in 2023 — Net Income jumped 290.36% — and 2024, when it slumped 209.82%.
- Morgan Stanley Direct Lending Fund's Net Income stood at $13.8 million in 2022, then surged by 290.36% to $54.0 million in 2023, then plunged by 209.82% to -$59.2 million in 2024, then declined by 16.9% to -$69.3 million in 2025, then soared by 113.01% to $9.0 million in 2026.
- Business Quant data shows MSDL's Net Income at $9.0 million in Q1 2026, -$69.3 million in Q4 2025, and $9.8 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Income (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 179.54 Bn | 165.67 Bn | - | 2.04 Bn |
| 2 | Blackstone | 114.83 Bn | 112.32 Bn | - | 2.36 Bn |
| 3 | Kkr | 97.26 Bn | -179.81 Bn | - | 1.13 Bn |
| 4 | Brookfield | 93.07 Bn | 45.66 Bn | - | - |
| 5 | Brookfield Asset Management | 83.46 Bn | 81.96 Bn | - | 1.17 Bn |
| 6 | Apollo Global Management | 78.41 Bn | 53.04 Bn | 10.54 Bn | 2.09 Bn |
| 7 | State Street | 51.66 Bn | 51.66 Bn | - | 1.08 Bn |
| 8 | Ameriprise Financial | 51.12 Bn | 40.07 Bn | 4.72 Bn | 1.11 Bn |
| 9 | Raymond James Financial | 33.99 Bn | 20.74 Bn | - | 595.00 Mn |
| 10 | Morgan Stanley Direct Lending Fund | 1.30 Bn | 1.22 Bn | - | 6.14 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 6.14 Mn |
| 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 | -59.25 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 | 13.82 Mn |
| Sep 30, 2022 | 15.21 Mn |
| Jun 30, 2022 | 15.63 Mn |
| Mar 31, 2022 | 16.17 Mn |