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| Date | Value |
|---|---|
| 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 |