Morgan Stanley Direct Lending Fund (MSDL) Price to FCF (2024 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly Price to FCF came in at 12.31 in Q2 2026, down 81.83% year-over-year from 67.74 in Q2 2025, and down 10.78% quarter-over-quarter from 13.8 in Q1 2026.
Analysis
Morgan Stanley Direct Lending Fund (MSDL) Price to FCF (2024 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported Price to FCF for 3 consecutive years, with 12.31 the latest figure, recorded in Q2 2026.
- On a quarterly basis, Price to FCF fell 81.83% year-over-year to 12.31 in Q2 2026; TTM through Jun 2026 was 4.52, a 145.51% increase from a year earlier, with the FY2025 full-year figure at 9.42, up 297.1% from the prior year.
- Price to FCF was 12.31 for Q2 2026 at Morgan Stanley Direct Lending Fund, down from 13.8 in the prior quarter.
- Over five years, Price to FCF peaked at 67.74 in Q2 2025 and troughed at 35.7 in Q1 2024.
- A 3-year average of 12.11 and a median of 13.05 in 2026 frame the typical range for Price to FCF.
- Across the five-year window, Price to FCF soared 469.87% in 2025 and plunged 81.83% in 2026, its largest moves.
- Over 3 years, Price to FCF stood at 17.39 in 2024, then soared by 252.11% to 26.45 in 2025, then plunged by 53.47% to 12.31 in 2026.
- The last three Price to FCF figures came in at 12.31 (Q2 2026), 13.8 (Q1 2026), and 26.45 (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Ares Capital | 14.39 Bn | 14.01 Bn | - |
| 2 | Blackstone Secured Lending Fund | 5.76 Bn | 5.49 Bn | - |
| 3 | Blue Owl Capital | 5.62 Bn | 5.38 Bn | - |
| 4 | Main Street Capital | 5.39 Bn | 5.33 Bn | - |
| 5 | Blue Owl Technology Finance | 5.20 Bn | 4.99 Bn | - |
| 6 | Hercules Capital | 4.68 Bn | 4.64 Bn | - |
| 7 | FS KKR Capital | 3.48 Bn | 3.37 Bn | - |
| 8 | Golub Capital Bdc | 3.38 Bn | 3.34 Bn | - |
| 9 | PennantPark Floating Rate Capital | 2.47 Bn | -134.94 Mn | - |
| 10 | Morgan Stanley Direct Lending Fund | 1.29 Bn | 1.21 Bn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 12.31 |
| Mar 31, 2026 | 13.80 |
| Dec 31, 2025 | 26.45 |
| Sep 30, 2025 | 35.79 |
| Jun 30, 2025 | 67.74 |
| Mar 31, 2025 | 51.52 |
| Dec 31, 2024 | -17.39 |
| Sep 30, 2024 | -15.04 |
| Jun 30, 2024 | -18.31 |
| Mar 31, 2024 | -35.70 |