Morgan Stanley Direct Lending Fund (MSDL) Payables (2022 - 2026)
Morgan Stanley Direct Lending Fund's Payables came in at $38.1 million for Q2 2026, down 12.6% from $43.58 million a year earlier and down 1.0% from the prior quarter.
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Analysis
Morgan Stanley Direct Lending Fund (MSDL) Payables (2022 - 2026) Analysis & Trends
At the end of FY2025, Morgan Stanley Direct Lending Fund's Payables was $43.22 million, down 18.8% from FY2024.
- Payables carries a three-year compound annual growth rate of 9.3% (FY2022 to FY2025).
- Going back by year, Payables was $53.23 million in FY2024 (+6.5%), $49.97 million in FY2023 (+51.2%) and $33.06 million in FY2022.
- The Q2 2026 figure represents the lowest quarterly Payables since Q1 2023.
- Year-over-year, Payables has declined for six consecutive quarters, with an average decline of 4.5% over the last eight quarters.
- The fastest year-over-year change in Payables over five years came in Q4 2023 (growth of 51.2%), and the weakest in Q4 2025 (a decline of 18.8%).
- Business Quant data shows MSDL's Payables at $38.49 million (Q1 2026), $43.22 million (Q4 2025) and $43.5 million (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Payables (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 4.17 Bn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 5.70 Bn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | 35.57 Mn |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | 84.65 Mn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | - |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 44.90 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 821.80 Mn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | 167.00 Mn |
| 10 | Morgan Stanley Direct Lending Fund | 1.15 Bn | 802.02 Mn | - | 38.10 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 38.10 Mn |
| Mar 31, 2026 | 38.49 Mn |
| Dec 31, 2025 | 43.22 Mn |
| Sep 30, 2025 | 43.50 Mn |
| Jun 30, 2025 | 43.58 Mn |
| Mar 31, 2025 | 44.10 Mn |
| Dec 31, 2024 | 53.23 Mn |
| Sep 30, 2024 | 53.54 Mn |
| Jun 30, 2024 | 44.70 Mn |
| Mar 31, 2024 | 44.45 Mn |
| Dec 31, 2023 | 49.97 Mn |
| Sep 30, 2023 | 43.21 Mn |
| Jun 30, 2023 | 41.04 Mn |
| Mar 31, 2023 | 35.68 Mn |
| Dec 31, 2022 | 33.06 Mn |
API Access
Morgan Stanley Direct Lending Fund Payables API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=payables&ticker=MSDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "payables", "ticker": "MSDL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=payables&ticker=MSDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();