Morgan Stanley Direct Lending Fund (MSDL) Retained Earnings (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) reported Retained Earnings of -$62.5 million for Q1 2026, down 509.13% year-over-year from $15.3 million in Q1 2025, and down 218.71% on a QoQ basis from -$19.6 million in Q4 2025.
Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Retained Earnings data on file, last reported at -$62.5 million in Q1 2026.
- Quarterly Retained Earnings fell 509.13% year-over-year to -$62.5 million in Q1 2026, while the trailing twelve-month figure through Mar 2026 was -$62.5 million (down 509.13% YoY) and the FY2025 annual result came in at -$19.6 million, down 166.23% from the prior year.
- Retained Earnings fell to -$62.5 million in Q1 2026 per MSDL's latest filing, from -$19.6 million in the prior quarter.
- Across five years, Retained Earnings topped out at $30.0 million in Q2 2024 and bottomed at -$62.5 million in Q3 2025.
- The 5-year median for Retained Earnings is $3.7 million (2023), against an average of -$10.0 million.
- The widest annual swing landed in 2024, when Retained Earnings soared 6373.68%; it then tumbled 509.13% in 2026.
- Tracing MSDL's Retained Earnings over 5 years: stood at -$54.8 million in 2022, then soared by 115.44% to $8.5 million in 2023, then jumped by 250.21% to $29.6 million in 2024, then plunged by 166.23% to -$19.6 million in 2025, then tumbled by 218.71% to -$62.5 million in 2026.
- Per Business Quant, the three latest MSDL Retained Earnings figures stand at -$62.5 million (Q1 2026), -$19.6 million (Q4 2025), and -$62.5 million (Q3 2025).
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Retained Earnings (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 158.51 Bn | 148.89 Bn | - | 39.18 Bn |
| 2 | Blackstone | 92.68 Bn | 91.63 Bn | - | -15.77 Mn |
| 3 | Kkr | 84.94 Bn | 132.45 Bn | - | 14.08 Bn |
| 4 | Brookfield Asset Management | 77.34 Bn | 77.68 Bn | - | 180.00 Mn |
| 5 | Apollo Global Management | 76.27 Bn | 95.00 Bn | 5.04 Bn | 5.16 Bn |
| 6 | State Street | 44.42 Bn | 18.75 Bn | - | - |
| 7 | Ameriprise Financial | 41.68 Bn | 41.55 Bn | 4.57 Bn | 28.43 Bn |
| 8 | Northern Trust | 31.21 Bn | 31.21 Bn | - | 17.07 Bn |
| 9 | Ares Management | 28.85 Bn | 32.22 Bn | - | -1.66 Bn |
| 10 | Morgan Stanley Direct Lending Fund | - | - | - | -62.53 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Mar 31, 2026 | -62.53 Mn |
| Dec 31, 2025 | -19.62 Mn |
| Sep 30, 2025 | -62.53 Mn |
| Jun 30, 2025 | 7.90 Mn |
| Mar 31, 2025 | 15.28 Mn |
| Dec 31, 2024 | 29.62 Mn |
| Sep 30, 2024 | 29.80 Mn |
| Jun 30, 2024 | 30.04 Mn |
| Mar 31, 2024 | 15.70 Mn |
| Dec 31, 2023 | 8.46 Mn |
| Sep 30, 2023 | -475,000.00 |
| Jun 30, 2023 | -30.67 Mn |
| Mar 31, 2023 | -46.38 Mn |
| Dec 31, 2022 | -54.78 Mn |