Morgan Stanley Direct Lending Fund (MSDL) Tax Provisions (2023 - 2026)
Morgan Stanley Direct Lending Fund (MSDL) posted Tax Provisions of $800,000 for Q2 2026, up 300.0% from $200,000 a year earlier but down 4.1% from the prior quarter.
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Analysis
Morgan Stanley Direct Lending Fund (MSDL) Tax Provisions (2023 - 2026) Analysis & Trends
For the trailing twelve months through Jun 30, 2026, Tax Provisions at Morgan Stanley Direct Lending Fund was $3.62 million, up 55.5% year-over-year; for FY2025, it was $2.81 million, up 15.5% from FY2024.
- Annual Tax Provisions has increased for four consecutive years, with a four-year compound annual growth rate of 143.5% (FY2021 to FY2025).
- In prior years, Morgan Stanley Direct Lending Fund's Tax Provisions was $2.44 million in FY2024 (+60.4%), $1.52 million in FY2023 (+354.8%), $334,000 in FY2022 (+317.5%) and $80,000 in FY2021.
- Quarterly Tax Provisions has run from a low of $200,000 in Q2 2025 to a high of $1.59 million in Q4 2025 over five years.
- On a year-over-year basis, Tax Provisions has increased in each of the last three quarters, with growth averaging 45.9% over the last seven quarters.
- According to Business Quant data, Tax Provisions for the three prior quarters was $834,000 (Q1 2026), $1.59 million (Q4 2025) and $402,000 (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Taxes (Qtr) |
|---|---|---|---|---|---|
| 1 | Rocket Companies | 43.26 Bn | 28.94 Bn | - | 52.00 Mn |
| 2 | Orix | 42.40 Bn | 42.90 Bn | - | 787.89 Mn |
| 3 | Royalty Pharma | 33.56 Bn | 33.47 Bn | - | - |
| 4 | Federal National Mortgage Association Fannie Mae | 24.47 Bn | 24.47 Bn | - | 1.01 Bn |
| 5 | Affirm Holdings | 23.34 Bn | 17.03 Bn | - | -1.45 Bn |
| 6 | Synchrony Financial | 23.06 Bn | -44.91 Bn | - | 301.00 Mn |
| 7 | Royal Gold | 19.98 Bn | 19.21 Bn | 390.45 Mn | 58.24 Mn |
| 8 | Annaly Capital Management | 14.18 Bn | 5.27 Bn | - | 6.90 Mn |
| 9 | Ares Capital | 13.71 Bn | 11.15 Bn | - | 8.00 Mn |
| 10 | Morgan Stanley Direct Lending Fund | 1.15 Bn | 802.02 Mn | - | 800,000.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 800,000.00 |
| Mar 31, 2026 | 834,000.00 |
| Dec 31, 2025 | 1.59 Mn |
| Sep 30, 2025 | 402,000.00 |
| Jun 30, 2025 | 200,000.00 |
| Mar 31, 2025 | 627,000.00 |
| Dec 31, 2024 | 1.00 Mn |
| Sep 30, 2024 | 501,000.00 |
| Jun 30, 2024 | 500,000.00 |
| Mar 31, 2024 | 436,000.00 |
| Dec 31, 2023 | 1.52 Mn |
API Access
Morgan Stanley Direct Lending Fund Tax Provisions API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=tax-provisions&ticker=MSDL&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "tax-provisions", "ticker": "MSDL", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=tax-provisions&ticker=MSDL&period=max&api_key=YOUR_API_KEY");
const data = await res.json();