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Asset Utilization RatioAssets AverageEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginFCF Payout RatioInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

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

Morgan Stanley Direct Lending Fund has reported Net Margin over the past 4 years, most recently at 9.39% for Q4 2025.

  • Quarterly Net Margin fell 762.0% to 9.39% in Q4 2025 from the year-ago period, while the trailing twelve-month figure was 10.04% through Dec 2025, down 1335.0% year-over-year, with the annual reading at 10.04% for FY2025, 1335.0% down from the prior year.
  • Net Margin was 9.39% for Q4 2025 at Morgan Stanley Direct Lending Fund, down from 9.85% in the prior quarter.
  • Over five years, Net Margin peaked at 37.84% in Q1 2022 and troughed at 8.99% in Q2 2025.
  • The 4-year median for Net Margin is 22.97% (2023), against an average of 21.35%.
  • Year-over-year, Net Margin soared 626bps in 2023 and then crashed -1675bps in 2025.
  • A 4-year view of Net Margin shows it stood at 19.9% in 2022, then skyrocketed by 31bps to 26.16% in 2023, then plummeted by -35bps to 17.01% in 2024, then plummeted by -45bps to 9.39% in 2025.
  • Per Business Quant, the three most recent readings for MSDL's Net Margin are 9.39% (Q4 2025), 9.85% (Q3 2025), and 8.99% (Q2 2025).