Morgan Stanley Direct Lending Fund Growth Metrics (2022-2025) | MSDL

Growth Metrics Jun2022 Sep2022 Dec2022 Mar2023 Jun2023 Sep2023 Dec2023 Mar2024 Jun2024 Sep2024 Dec2024 Mar2025 Jun2025 Sep2025
Growth Ratios
Assets Growth (1y) 10.74%11.17%19.04%15.76%18.30%15.02%7.28%3.66%
Assets (QoQ) 2.46%0.38%6.70%0.91%2.86%7.48%3.76%3.13%0.00%0.25%0.26%
Cash & Equivalents Growth (1y) -14.17%-34.98%79.69%2.66%-9.05%7.16%-45.02%-27.60%
Cash & Equivalents (QoQ) 22.64%-46.94%66.67%-20.87%-7.09%46.64%-4.78%-29.89%9.47%-24.76%25.39%
Cash from Operations Growth (1y) 86.93%106.73%15.61%142.22%-227.88%-1,295.00%-17.82%-519.19%163.56%122.53%133.33%
Cash from Operations Growth (3y) 31.47%29.69%32.60%
Cash from Operations (QoQ) -5.95%11.24%53.83%69.89%154.55%-1,212.83%123.10%-333.84%-98.80%-9.72%17.81%135.46%-29.53%62.32%
Dividends Paid - Common Growth (1y) 7.72%25.97%41.82%40.36%55.80%31.72%49.97%71.35%42.93%30.09%-2.58%
Dividends Paid - Common Growth (3y) 33.87%29.24%27.48%
Dividends Paid - Common (QoQ) -7.96%2.94%5.88%7.38%7.63%15.89%4.79%19.19%-9.00%31.94%19.73%-0.57%-17.18%-1.20%
Dividends payables Growth (1y) 51.15%24.56%8.94%23.90%6.53%-0.77%-2.53%-18.75%
Dividends payables (QoQ) 7.94%15.01%5.30%15.64%-11.05%0.58%19.76%-0.58%-17.14%-1.20%-0.17%
EBITDA Margin Growth (1y) -697.00-506.00-37.00409.00271.0058.0042.00-635.00-941.00-1027.00-971.00
EBITDA Margin Growth (3y) -1366.00-1475.00-966.00
EBITDA Margin (QoQ) -102.00-491.00-144.0040.0089.00-22.00302.00-98.00-124.00-38.00-376.00-403.00-211.0018.00
EBIT Growth (1y) 66.79%62.52%49.57%47.62%24.57%18.47%17.12%-9.22%-14.94%-22.54%-25.49%
EBIT Growth (3y) 20.90%14.25%9.28%
EBIT Margin Growth (1y) -697.00-506.00-37.00409.00271.0058.0042.00-635.00-941.00-1027.00-971.00
EBIT Margin Growth (3y) -1366.00-1475.00-966.00
EBIT Margin (QoQ) -102.00-491.00-144.0040.0089.00-22.00302.00-98.00-124.00-38.00-376.00-403.00-211.0018.00
EBIT (QoQ) 10.92%14.98%14.17%14.55%8.08%5.81%12.68%-3.34%2.78%4.61%-12.66%-9.43%-6.40%0.63%
EBT Growth (1y) 8.60%27.26%37.30%100.40%58.51%37.36%24.84%-34.71%-54.45%-66.51%-60.77%
EBT Growth (3y) -7.78%-16.34%-12.39%
EBT Margin Growth (1y) -1550.00-889.00-214.00892.00709.00385.00164.00-1018.00-1559.00-1703.00-1350.00
EBT Margin Growth (3y) -2399.00-2206.00-1400.00
EBT Margin (QoQ) -523.00-700.00-502.00175.00138.00-26.00604.00-7.00-186.00-246.00-578.00-548.00-330.00106.00
EBT (QoQ) -3.32%-2.66%-6.95%24.02%13.29%5.03%35.80%-1.90%-1.83%-4.55%-28.98%-31.56%-27.82%11.79%
Enterprise Value Growth (1y) 14.17%34.98%-79.69%-2.66%-3.83%-7.16%16.15%16.48%
Enterprise Value (QoQ) -22.64%46.94%-66.67%20.87%7.09%-46.64%4.78%19.97%4.11%-14.73%5.15%
EPS (Basic) Growth (1y) 58.97%1,416.67%580.00%112.50%-4.84%-16.46%-41.18%-14.71%-42.37%-37.88%-46.67%
EPS (Basic) Growth (3y) -4.47%106.72%28.73%
EPS (Basic) (QoQ) -115.38%350.00%113.33%93.75%27.42%29.11%-33.33%-13.24%11.86%-9.09%-3.33%-41.38%20.59%-21.95%
EPS (Weighted Average and Diluted) Growth (1y) 58.97%1,416.67%580.00%112.50%-4.84%-16.46%-41.18%-14.71%-42.37%-37.88%-46.67%
EPS (Weighted Average and Diluted) Growth (3y) -4.47%106.72%28.73%
EPS (Weighted Average and Diluted) (QoQ) -115.38%350.00%113.33%93.75%27.42%29.11%-33.33%-13.24%11.86%-9.09%-3.33%-41.38%20.59%-21.95%
FCF Margin Growth (1y) 26,295.0027,529.008,251.009,664.00-3458.00-11242.00-147.00-11612.008,776.0012,653.0014,575.00
FCF Margin Growth (3y) 31,613.0028,940.0022,680.00
FCF Margin (QoQ) 1,727.007,757.0011,381.005,430.002,961.00-11521.0012,794.00-7692.00-4824.00-425.001,328.0012,696.00-946.001,497.00
FCF Payout Ratio Growth (1y) -723.97%1,971.42%-68.06%432.46%52.48%-111.02%-27.29%-140.88%324.87%677.40%392.27%
FCF Payout Ratio Growth (3y) 121.07%140.50%102.08%
FCF Payout Ratio (QoQ) 13.12%-15.97%-129.33%-256.64%297.31%-110.41%553.67%-150.97%54.23%-20.26%-45.69%380.41%17.53%-39.13%
Free Cash Flow Growth (1y) 86.93%106.73%15.61%142.22%-227.88%-1,295.00%-17.82%-519.19%163.56%122.53%133.33%
Free Cash Flow Growth (3y) 31.47%29.69%32.60%
Free Cash Flow (QoQ) -5.95%11.24%53.83%69.89%154.55%-1,212.83%123.10%-333.84%-98.80%-9.72%17.81%135.46%-29.53%62.32%
Interest Coverage Ratio Growth (1y) -35.27%-19.75%-6.28%26.10%21.86%12.83%4.87%-21.77%-32.16%-34.61%-27.14%
Interest Coverage Ratio Growth (3y) -18.82%-16.03%-10.54%
Interest Coverage Ratio (QoQ) -16.70%-14.82%-13.14%5.03%3.28%-0.53%16.87%1.50%-4.38%-7.54%-12.81%-11.99%-7.82%3.01%
Net Cash Flow Growth (1y) 152.11%-211.36%268.23%-186.24%-126.88%164.60%-112.88%1.70%40.16%-127.42%390.50%
Net Cash Flow Growth (3y) 56.24%-30.01%38.02%
Net Cash Flow (QoQ) 218.97%-149.89%201.76%-13.71%-354.23%175.36%-152.16%73.11%711.05%-115.02%-298.15%83.63%-179.99%259.18%
Net Income Growth (1y) 8.60%27.26%37.30%89.66%56.03%34.85%22.44%-40.09%-56.01%-66.63%-61.58%
Net Income Growth (3y) -9.33%-16.96%-13.56%
Net Income (QoQ) -3.32%-2.66%-6.95%24.02%13.29%5.03%28.53%2.03%-2.09%-4.63%-37.11%-25.09%-25.72%9.80%
Net Income towards Common Stockholders Growth (1y) 8.60%27.26%37.30%89.66%56.03%34.85%22.44%-40.09%-56.01%-66.63%-61.58%
Net Income towards Common Stockholders Growth (3y) -9.33%-16.96%-13.56%
Net Income towards Common Stockholders (QoQ) -3.32%-2.66%-6.95%24.02%13.29%5.03%28.53%2.03%-2.09%-4.63%-37.11%-25.09%-25.72%9.80%
Net Margin Growth (1y) -1550.00-889.00-214.00741.00665.00337.00119.00-1104.00-1576.00-1675.00-1345.00
Net Margin Growth (3y) -2461.00-2227.00-1440.00
Net Margin (QoQ) -523.00-700.00-502.00175.00138.00-26.00453.0099.00-190.00-244.00-769.00-373.00-288.0086.00
Operating Income Growth (1y) 66.79%62.52%49.57%47.62%24.57%18.47%17.12%-9.22%-14.94%-22.54%-25.49%
Operating Income Growth (3y) 20.90%14.25%9.28%
Operating Income (QoQ) 10.92%14.98%14.17%14.55%8.08%5.81%12.68%-3.34%2.78%4.61%-12.66%-9.43%-6.40%0.63%
Operating Margin Growth (1y) -697.00-506.00-37.00409.00271.0058.0042.00-635.00-941.00-1027.00-971.00
Operating Margin Growth (3y) -1366.00-1475.00-966.00
Operating Margin (QoQ) -102.00-491.00-144.0040.0089.00-22.00302.00-98.00-124.00-38.00-376.00-403.00-211.0018.00
Profit After Tax Growth (1y) 98.79%1,829.76%677.46%-42.37%23.58%4.61%-20.00%-11.59%-15.41%-26.06%-25.54%
Profit After Tax Growth (3y) 27.61%148.68%66.69%
Profit After Tax (QoQ) -114.67%389.37%954.70%-55.59%27.63%30.06%-21.82%-4.77%8.04%-0.54%-13.61%-8.88%-5.56%0.17%
Return on Assets Growth (1y) 1.001.001.000.00-1.00-1.00-2.00
Return on Assets (QoQ) 0.000.000.000.000.000.000.000.000.000.00
Return on Equity Growth (1y) 1.001.001.000.00-1.00-2.00-3.00
Return on Equity (QoQ) 0.000.000.000.000.000.00-1.00-1.00-1.00-1.00
Return on Invested Capital Growth (1y) 0.00-1.00-1.00-2.00
Return on Invested Capital (QoQ) 0.000.000.000.000.000.000.00
Return on Sales Growth (1y) -15.00-9.00-2.007.007.003.001.00-11.00-16.00-17.00-13.00
Return on Sales Growth (3y) -25.00-22.00-14.00
Return on Sales (QoQ) -5.00-7.00-5.002.001.000.005.001.00-2.00-2.00-8.00-4.00-3.001.00
Revenue Growth (1y) 88.78%77.81%50.59%36.94%18.49%17.20%16.20%2.26%2.38%-4.49%-9.14%
Revenue Growth (3y) 31.81%25.79%16.72%
Revenue (QoQ) 12.84%25.45%17.31%13.68%6.28%6.25%6.67%-1.64%5.13%5.34%-6.12%-1.53%-1.92%0.22%
Shareholder's Equity Growth (1y) 23.18%29.86%29.30%25.13%7.03%-1.05%-3.85%-4.43%
Shareholder's Equity (QoQ) 1.24%1.80%2.88%16.18%6.73%1.36%-0.44%-0.62%-1.32%-1.51%-1.04%
Tax Rate Growth (1y) 780.00338.0036.00201.00
Tax Rate (QoQ) -379.0026.009.001,124.00-821.00-276.00174.00