Morgan Stanley Direct Lending Fund MSDL
NYSE MSDL
$14.76 -0.28 (-1.90%)
As of: Sep 9, 2026 · 3:59 PM EDT

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

Historic Data

Download Data
DateValue
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