Growth Metrics

Morgan Stanley Direct Lending Fund (MSDL) Tax Rate (2023 - 2026)

Morgan Stanley Direct Lending Fund has reported Tax Rate over the past 3 years, most recently at 14.88% for Q4 2025.

  • Quarterly Tax Rate rose 948.0% to 14.88% in Q4 2025 from the year-ago period, while the trailing twelve-month figure was 6.59% through Dec 2025, up 415.0% year-over-year, with the annual reading at 6.59% for FY2025, 415.0% up from the prior year.
  • Tax Rate was 14.88% for Q4 2025 at Morgan Stanley Direct Lending Fund, up from 3.93% in the prior quarter.
  • Over five years, Tax Rate peaked at 14.88% in Q4 2025 and troughed at 1.57% in Q1 2024.
  • The 3-year median for Tax Rate is 3.93% (2025), against an average of 4.68%.
  • Year-over-year, Tax Rate decreased -5bps in 2024 and then soared 948bps in 2025.
  • A 3-year view of Tax Rate shows it stood at 5.45% in 2023, then dropped by -1bps to 5.4% in 2024, then skyrocketed by 176bps to 14.88% in 2025.
  • Per Business Quant, the three most recent readings for MSDL's Tax Rate are 14.88% (Q4 2025), 3.93% (Q3 2025), and 2.19% (Q2 2025).