Morgan Stanley Direct Lending Fund (MSDL) Price to Book (2024 - 2026)
Morgan Stanley Direct Lending Fund's Price to Book was 0.78 in Q2 2026, down 14.7% from 0.91 a year earlier but up 10.0% from the prior quarter.
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Analysis
Morgan Stanley Direct Lending Fund (MSDL) Price to Book (2024 - 2026) Analysis & Trends
For FY2025, Price to Book at Morgan Stanley Direct Lending Fund came in at 0.81, down 18.1% from FY2024.
- In earlier years, Price to Book was 0.99 in FY2024.
- Quarterly Price to Book has moved between 0.70 (Q1 2026) and 1.05 (Q2 2024) over five years.
- Compared with a year earlier, Price to Book has declined for six straight quarters, with an average decline of 16.3% over the last six quarters.
- Per Business Quant data, MSDL's Price to Book in the three quarters before Q2 2026 was 0.70 (Q1 2026), 0.81 (Q4 2025) and 0.79 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - |
| 10 | Morgan Stanley Direct Lending Fund | 1.15 Bn | 802.02 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 0.78 |
| Mar 31, 2026 | 0.70 |
| Dec 31, 2025 | 0.81 |
| Sep 30, 2025 | 0.79 |
| Jun 30, 2025 | 0.91 |
| Mar 31, 2025 | 0.97 |
| Dec 31, 2024 | 0.99 |
| Sep 30, 2024 | 0.95 |
| Jun 30, 2024 | 1.05 |
| Mar 31, 2024 | 1.04 |
API Access
Morgan Stanley Direct Lending Fund Price to Book 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=price-to-book&ticker=MSDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "price-to-book", "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=price-to-book&ticker=MSDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();