Morgan Stanley Direct Lending Fund (MSDL) Revenue (2022 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) posted quarterly Revenue of $89.1 million for Q1 2026, down 12.22% year-over-year from $101.5 million in Q1 2025, and down 7.8% quarter-over-quarter 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 reported Revenue for 5 consecutive years, with $89.1 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Revenue fell 12.22% year-over-year to $89.1 million; the TTM figure through Mar 2026 stood at $384.9 million (down 8.02% YoY), while the FY2025 annual figure was $397.3 million, down 4.52% from the prior year.
- Revenue retreated to $89.1 million in Q1 2026 per MSDL's latest filing, from $96.6 million in the prior quarter.
- Across five years, Revenue topped out at $109.8 million in Q3 2024 and bottomed at $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.
- Annual changes were most pronounced in 2023 — Revenue soared 91.31% — and 2026, when it declined 12.22%.
- Morgan Stanley Direct Lending Fund's Revenue stood at $71.1 million in 2022, then surged by 52.47% to $108.5 million in 2023, then dropped by 5.01% to $103.0 million in 2024, then decreased by 6.25% to $96.6 million in 2025, then slipped by 7.8% to $89.1 million in 2026.
- Business Quant data shows MSDL's Revenue at $89.1 million in Q1 2026, $96.6 million in Q4 2025, and $99.7 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Revenue (Qtr) |
|---|---|---|---|---|---|
| 1 | BlackRock | 176.99 Bn | 163.12 Bn | - | 7.08 Bn |
| 2 | Blackstone | 113.16 Bn | 110.65 Bn | - | 5.04 Bn |
| 3 | Kkr | 96.05 Bn | -181.02 Bn | - | 5.73 Bn |
| 4 | Brookfield | 92.54 Bn | 45.14 Bn | - | 19.41 Bn |
| 5 | Brookfield Asset Management | 82.31 Bn | 80.81 Bn | - | 1.75 Bn |
| 6 | Apollo Global Management | 77.14 Bn | 51.77 Bn | 10.54 Bn | 11.15 Bn |
| 7 | State Street | 50.64 Bn | 50.64 Bn | - | 4.05 Bn |
| 8 | Ameriprise Financial | 50.31 Bn | 39.27 Bn | 4.72 Bn | 5.01 Bn |
| 9 | Northern Trust | 33.61 Bn | 33.61 Bn | - | 1.35 Bn |
| 10 | Morgan Stanley Direct Lending Fund | 1.30 Bn | 1.22 Bn | - | 88.77 Mn |
Historic Data
Download 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 | 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 |