Morgan Stanley Direct Lending Fund (MSDL) Revenue (2022 - 2026)

Morgan Stanley Direct Lending Fund's (MSDL) quarterly Revenue came in at $89.1 million in Q1 2026, down 12.22% year-on-year from $101.5 million in Q1 2025, and down 7.8% on a QoQ basis from $96.6 million in Q4 2025.

Morgan Stanley Direct Lending Fund (MSDL) Revenue (2022 - 2026) Analysis & Trends

Morgan Stanley Direct Lending Fund (MSDL) has 5 years of Revenue data on file, last reported at $89.1 million in Q1 2026.

  • On a quarterly basis, Revenue fell 12.22% year-over-year to $89.1 million in Q1 2026; TTM through Mar 2026 was $384.9 million, a 8.02% decrease from a year earlier, with the FY2025 full-year figure at $397.3 million, down 4.52% from the prior year.
  • Revenue for Q1 2026 stood at $89.1 million, down from $96.6 million in the prior quarter.
  • Over the last five years, Revenue for MSDL reached as high as $109.8 million in Q3 2024 and fell as low as $42.7 million in Q1 2022.
  • Historically, Revenue has averaged $88.0 million across 5 years, with a median of $96.6 million in 2025.
  • Across the five-year window, Revenue jumped 91.31% in 2023 and slipped 12.22% in 2026, its largest moves.
  • Year by year, Revenue stood at $71.1 million in 2022, then jumped by 52.47% to $108.5 million in 2023, then fell by 5.01% to $103.0 million in 2024, then dropped by 6.25% to $96.6 million in 2025, then declined by 7.8% to $89.1 million in 2026.
  • Per Business Quant data, the three most recent Revenue figures were $89.1 million in Q1 2026, $96.6 million in Q4 2025, and $99.7 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Revenue (Qtr)
1 Brookfield 1,236.60 Bn 1,311.20 Bn 18.56 Bn 18.58 Bn
2 BlackRock 161.01 Bn 148.08 Bn - 6.70 Bn
3 Blackstone 97.77 Bn 96.72 Bn - 3.62 Bn
4 Apollo Global Management 70.80 Bn 90.38 Bn -409.00 Mn 217.00 Mn
5 State Street 51.30 Bn 51.30 Bn - 3.80 Bn
6 Ameriprise Financial 48.54 Bn 39.27 Bn 4.57 Bn 4.89 Bn
7 Northern Trust 32.93 Bn 32.93 Bn - 1.34 Bn
8 Raymond James Financial 32.59 Bn 17.67 Bn - 3.86 Bn
9 Price T Rowe 24.70 Bn 21.13 Bn - 1.86 Bn
10 Morgan Stanley Direct Lending Fund 1.29 Bn 1.19 Bn - 89.06 Mn

Historic Data

Download Data
DateValue
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 108.47 Mn
Sep 30, 2023 90.98 Mn
Jun 30, 2023 86.57 Mn
Mar 31, 2023 81.72 Mn
Dec 31, 2022 71.14 Mn
Sep 30, 2022 62.72 Mn
Jun 30, 2022 49.99 Mn
Mar 31, 2022 42.72 Mn