Morgan Stanley Direct Lending Fund (MSDL) Revenue (2022 - 2026)
Morgan Stanley Direct Lending Fund's (MSDL) quarterly Revenue came in at $88.8 million in Q2 2026, down 10.79% year-over-year from $99.5 million in Q2 2025, and little changed quarter-over-quarter from $89.1 million in Q1 2026.
Analysis
Morgan Stanley Direct Lending Fund (MSDL) Revenue (2022 - 2026) Analysis & Trends
Morgan Stanley Direct Lending Fund (MSDL) has reported Revenue for 5 consecutive years, with $88.8 million the latest figure, recorded in Q2 2026.
- On a quarterly basis, Revenue fell 10.79% year-over-year to $88.8 million in Q2 2026; TTM through Jun 2026 was $374.2 million, a 9.57% decrease from a year earlier, with the FY2025 full-year figure at $397.3 million, down 4.52% from the prior year.
- Revenue was $88.8 million for Q2 2026 at Morgan Stanley Direct Lending Fund, roughly flat from $89.1 million in the prior quarter.
- Over five years, Revenue peaked at $109.8 million in Q3 2024 and troughed at $44.3 million in Q1 2022.
- A 5-year average of $88.3 million and a median of $95.5 million in 2023 frame the typical range for Revenue.
- Across the five-year window, Revenue jumped 88.78% in 2023 and dropped 12.22% in 2026, its largest moves.
- Over 5 years, Revenue stood at $73.6 million in 2022, then soared by 36.94% to $100.8 million in 2023, then grew by 2.26% to $103.0 million in 2024, then fell by 6.25% to $96.6 million in 2025, then fell by 8.1% to $88.8 million in 2026.
- The last three Revenue figures came in at $88.8 million (Q2 2026), $89.1 million (Q1 2026), and $96.6 million (Q4 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Revenue (Qtr) |
|---|---|---|---|---|---|
| 1 | Ares Capital | 14.12 Bn | 13.73 Bn | - | 768.00 Mn |
| 2 | Blackstone Secured Lending Fund | 5.69 Bn | 5.42 Bn | - | 320.47 Mn |
| 3 | Blue Owl Capital | 5.52 Bn | 5.28 Bn | - | 401.34 Mn |
| 4 | Main Street Capital | 5.26 Bn | 5.20 Bn | - | 149.57 Mn |
| 5 | Blue Owl Technology Finance | 5.05 Bn | 4.84 Bn | - | 338.03 Mn |
| 6 | Hercules Capital | 4.64 Bn | 4.59 Bn | - | 149.11 Mn |
| 7 | FS KKR Capital | 3.37 Bn | 3.27 Bn | - | 290.00 Mn |
| 8 | Golub Capital Bdc | 3.34 Bn | 3.30 Bn | - | 187.73 Mn |
| 9 | PennantPark Floating Rate Capital | 2.48 Bn | -129.09 Mn | - | 66.09 Mn |
| 10 | Morgan Stanley Direct Lending Fund | 1.25 Bn | 1.17 Bn | - | 88.77 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 88.77 Mn |
| Mar 31, 2026 | 89.06 Mn |
| Dec 31, 2025 | 96.60 Mn |
| Sep 30, 2025 | 99.72 Mn |
| Jun 30, 2025 | 99.51 Mn |
| Mar 31, 2025 | 101.46 Mn |
| Dec 31, 2024 | 103.03 Mn |
| Sep 30, 2024 | 109.75 Mn |
| Jun 30, 2024 | 104.19 Mn |
| Mar 31, 2024 | 99.10 Mn |
| Dec 31, 2023 | 100.75 Mn |
| Sep 30, 2023 | 94.45 Mn |
| Jun 30, 2023 | 88.89 Mn |
| Mar 31, 2023 | 83.64 Mn |
| Dec 31, 2022 | 73.58 Mn |
| Sep 30, 2022 | 62.72 Mn |
| Jun 30, 2022 | 49.99 Mn |
| Mar 31, 2022 | 44.30 Mn |