Morgan Stanley Direct Lending Fund reported revenue growth of -10.79% and asset growth of -5.38% for the quarter ended Jun 2026. These growth metrics cover 17 quarters of results from Jun 2022 through Jun 2026, standardized by Business Quant from the company’s SEC filings.
| Growth Metrics | Jun2022 | Sep2022 | Dec2022 | Mar2023 | Jun2023 | Sep2023 | Dec2023 | Mar2024 | Jun2024 | Sep2024 | Dec2024 | Mar2025 | Jun2025 | Sep2025 | Dec2025 | Mar2026 | Jun2026 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Growth Ratios | |||||||||||||||||
| Assets Growth (1y) | 10.74% | 11.17% | 19.04% | 15.76% | 18.30% | 15.02% | 7.28% | 3.66% | 0.21% | -2.23% | -5.38% | ||||||
| Assets Growth (3y) | 9.50% | 7.72% | 6.51% | ||||||||||||||
| Assets (QoQ) | 2.46% | 0.38% | 6.70% | 0.91% | 2.86% | 7.48% | 3.76% | 3.13% | 0.00% | 0.25% | 0.26% | -0.31% | -2.43% | -2.98% | |||
| Cash & Equivalents Growth (1y)Cash & Equiv. Growth (1y) | -14.17% | -34.98% | 79.69% | 2.66% | -9.05% | 7.16% | -45.02% | -27.60% | 28.45% | 16.22% | 26.05% | ||||||
| Cash & Equivalents Growth (3y)Cash & Equiv. Growth (3y) | 0.09% | -6.79% | 7.59% | ||||||||||||||
| Cash & Equivalents (QoQ)Cash & Equiv. (QoQ) | 22.64% | -46.94% | 66.67% | -20.87% | -7.09% | 46.64% | -4.78% | -29.89% | 9.47% | -24.76% | 25.39% | 24.38% | -0.95% | -18.40% | |||
| Cash from Operations Growth (1y)Cash from Ops. Growth (1y) | 86.93% | 106.73% | 15.61% | 142.22% | -227.88% | -1,295.00% | -17.82% | -558.31% | 163.56% | 122.53% | 133.33% | 151.12% | 153.19% | 331.94% | |||
| Cash from Operations Growth (3y)Cash from Ops. Growth (3y) | 31.47% | 29.69% | 32.60% | 44.05% | 93.78% | 126.56% | |||||||||||
| Cash from Operations (QoQ)Cash from Ops. (QoQ) | -5.95% | 11.24% | 53.83% | 69.89% | 154.55% | -1,212.83% | 123.10% | -333.84% | -98.80% | -9.72% | 10.15% | 132.43% | -29.53% | 62.32% | 37.80% | 60.63% | 20.22% |
| Dividend Coverage Ratio Growth (1y)Div. Cover Growth (1y) | 0.81% | 1.03% | -3.18% | 32.66% | 0.15% | 2.37% | -18.35% | -61.20% | -69.22% | -74.35% | -60.56% | -36.28% | 0.65% | -21.37% | |||
| Dividend Coverage Ratio Growth (3y)Div. Cover Growth (3y) | -32.27% | -35.74% | -32.19% | -31.04% | -32.31% | -40.89% | |||||||||||
| Dividend Coverage Ratio (QoQ)Div. Cover (QoQ) | 5.04% | -5.43% | -12.13% | 15.50% | 5.26% | -9.37% | 20.40% | -12.81% | 7.60% | -27.72% | -42.78% | -30.84% | -10.31% | 11.13% | -7.57% | 9.25% | -29.93% |
| Dividends Paid - Common Growth (1y)Div. 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% | -18.78% | -18.82% | -12.72% | |||
| Dividends Paid - Common Growth (3y)Div. Paid (Common) Growth (3y) | 33.87% | 29.24% | 27.48% | 25.00% | 21.82% | 14.36% | |||||||||||
| Dividends Paid - Common (QoQ)Div. 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% | -0.18% | -0.62% | -10.96% |
| Dividends payables Growth (1y) | 51.15% | 24.56% | 8.94% | 23.90% | 6.53% | -0.77% | -2.53% | -18.75% | -18.80% | -12.74% | -12.56% | ||||||
| Dividends payables Growth (3y) | 9.35% | 2.55% | -2.44% | ||||||||||||||
| 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% | -0.64% | -10.96% | -0.99% | |||
| EBITDA Margin Growth (1y) | -697.00 | -506.00 | -37.00 | 409.00 | 271.00 | 58.00 | 42.00 | -635.00 | -941.00 | -1027.00 | -971.00 | -466.00 | 24.00 | -19.00 | |||
| EBITDA Margin Growth (3y) | -1366.00 | -1475.00 | -966.00 | -692.00 | -645.00 | -988.00 | |||||||||||
| EBITDA Margin (QoQ) | -102.00 | -491.00 | -144.00 | 40.00 | 89.00 | -22.00 | 302.00 | -98.00 | -124.00 | -38.00 | -376.00 | -403.00 | -211.00 | 18.00 | 129.00 | 87.00 | -253.00 |
| 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% | -14.96% | -11.76% | -11.17% | |||
| EBIT Growth (3y) | 20.90% | 14.25% | 9.28% | 4.45% | -2.22% | -6.59% | |||||||||||
| EBIT Margin Growth (1y) | -697.00 | -506.00 | -37.00 | 409.00 | 271.00 | 58.00 | 42.00 | -635.00 | -941.00 | -1027.00 | -971.00 | -466.00 | 24.00 | -19.00 | |||
| EBIT Margin Growth (3y) | -1366.00 | -1475.00 | -966.00 | -692.00 | -645.00 | -988.00 | |||||||||||
| EBIT Margin (QoQ) | -102.00 | -491.00 | -144.00 | 40.00 | 89.00 | -22.00 | 302.00 | -98.00 | -124.00 | -38.00 | -376.00 | -403.00 | -211.00 | 18.00 | 129.00 | 87.00 | -253.00 |
| 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% | -0.31% | -6.03% | -5.77% |
| EBT Growth (1y) | 8.60% | 27.26% | 37.30% | 96.93% | 58.51% | 37.36% | 24.84% | -33.56% | -54.45% | -66.51% | -60.77% | -42.49% | -15.75% | -24.13% | |||
| EBT Growth (3y) | -7.78% | -16.34% | -12.39% | -9.04% | -15.27% | -29.59% | |||||||||||
| EBT Margin Growth (1y) | -1550.00 | -889.00 | -214.00 | 843.00 | 709.00 | 385.00 | 164.00 | -969.00 | -1559.00 | -1703.00 | -1350.00 | -695.00 | -50.00 | -138.00 | |||
| EBT Margin Growth (3y) | -2399.00 | -2206.00 | -1400.00 | -821.00 | -900.00 | -1455.00 | |||||||||||
| EBT Margin (QoQ) | -523.00 | -700.00 | -502.00 | 175.00 | 138.00 | -26.00 | 555.00 | 41.00 | -186.00 | -246.00 | -578.00 | -548.00 | -330.00 | 106.00 | 77.00 | 96.00 | -417.00 |
| EBT (QoQ) | -3.32% | -2.66% | -6.95% | 24.02% | 13.29% | 5.03% | 33.45% | -0.17% | -1.83% | -4.55% | -28.98% | -31.56% | -27.82% | 11.79% | 4.14% | 0.25% | -34.99% |
| EPS (Basic) Growth (1y) | -12.49% | 5.66% | 22.46% | 54.69% | 26.57% | 7.76% | -1.41% | -44.33% | -56.54% | -65.83% | -60.51% | -47.43% | -15.78% | -29.40% | |||
| EPS (Basic) Growth (3y) | -21.63% | -27.00% | -21.88% | -23.22% | -22.62% | -36.18% | |||||||||||
| EPS (Basic) (QoQ) | -6.79% | -10.06% | -3.30% | 7.94% | 12.54% | 4.24% | 22.16% | -11.68% | -4.19% | -4.63% | -31.02% | -31.05% | -24.68% | 10.24% | -8.18% | 10.47% | -36.86% |
| EPS (Diluted) Growth (1y) | -12.49% | 5.66% | 22.46% | 54.69% | 26.57% | 7.76% | -1.41% | -44.33% | -56.54% | -65.83% | -60.51% | -47.43% | -15.78% | -29.40% | |||
| EPS (Diluted) Growth (3y) | -21.63% | -27.00% | -21.88% | -23.22% | -22.62% | -36.18% | |||||||||||
| EPS (Diluted) (QoQ) | -6.79% | -10.06% | -3.30% | 7.94% | 12.54% | 4.24% | 22.16% | -11.68% | -4.19% | -4.63% | -31.02% | -31.05% | -24.68% | 10.24% | -8.18% | 10.47% | -36.86% |
| FCF Margin Growth (1y) | 26,295.00 | 27,529.00 | 8,251.00 | 9,664.00 | -3458.00 | -11242.00 | -147.00 | -12484.00 | 8,776.00 | 12,653.00 | 14,575.00 | 15,771.00 | 6,334.00 | 9,278.00 | |||
| FCF Margin Growth (3y) | 31,613.00 | 28,940.00 | 22,680.00 | 12,952.00 | 11,651.00 | 10,689.00 | |||||||||||
| FCF Margin (QoQ) | 1,727.00 | 7,757.00 | 11,381.00 | 5,430.00 | 2,961.00 | -11521.00 | 12,794.00 | -7692.00 | -4824.00 | -425.00 | 457.00 | 13,568.00 | -946.00 | 1,497.00 | 1,653.00 | 4,130.00 | 1,998.00 |
| FCF Payout Ratio Growth (1y)FCF Cover Growth (1y) | -723.97% | 1,971.42% | -68.06% | 432.46% | 52.48% | -111.02% | -27.29% | -137.39% | 324.87% | 677.40% | 392.27% | 258.89% | -67.94% | -79.79% | |||
| FCF Payout Ratio Growth (3y)FCF Cover Growth (3y) | 121.07% | 140.50% | 102.08% | 58.41% | 32.81% | -49.52% | |||||||||||
| FCF Payout Ratio (QoQ)FCF Cover (QoQ) | 13.12% | -15.97% | -129.33% | -256.64% | 297.31% | -110.41% | 553.67% | -150.97% | 54.23% | -20.26% | -33.25% | 406.58% | 17.53% | -39.13% | -27.56% | -38.13% | -25.94% |
| Free Cash Flow Growth (1y)FCF Growth (1y) | 86.93% | 106.73% | 15.61% | 142.22% | -227.88% | -1,295.00% | -17.82% | -558.31% | 163.56% | 122.53% | 133.33% | 151.12% | 153.19% | 331.94% | |||
| Free Cash Flow Growth (3y)FCF Growth (3y) | 31.47% | 29.69% | 32.60% | 44.05% | 93.78% | 126.56% | |||||||||||
| Free Cash Flow (QoQ)FCF (QoQ) | -5.95% | 11.24% | 53.83% | 69.89% | 154.55% | -1,212.83% | 123.10% | -333.84% | -98.80% | -9.72% | 10.15% | 132.43% | -29.53% | 62.32% | 37.80% | 60.63% | 20.22% |
| Interest Coverage Ratio Growth (1y)Interest Cover Growth (1y) | -35.27% | -19.75% | -6.28% | 23.97% | 21.86% | 12.83% | 4.87% | -20.42% | -32.16% | -34.61% | -27.14% | -15.29% | -1.65% | -3.71% | |||
| Interest Coverage Ratio Growth (3y)Interest Cover Growth (3y) | -18.82% | -16.03% | -10.54% | -5.81% | -6.67% | -10.77% | |||||||||||
| Interest Coverage Ratio (QoQ)Interest Cover (QoQ) | -16.70% | -14.82% | -13.14% | 5.03% | 3.28% | -0.53% | 14.90% | 3.24% | -4.38% | -7.54% | -12.81% | -11.99% | -7.82% | 3.01% | 1.36% | 2.18% | -9.75% |
| Net Cash Flow Growth (1y)NCF Growth (1y) | 152.11% | -211.36% | 268.23% | -186.24% | -126.88% | 164.60% | -112.88% | -47.14% | 40.16% | -127.42% | 390.50% | 159.37% | 74.07% | -78.80% | |||
| Net Cash Flow Growth (3y)NCF Growth (3y) | 56.24% | -30.01% | 38.02% | -9.01% | -26.86% | 31.84% | |||||||||||
| Net Cash Flow (QoQ)NCF (QoQ) | 218.97% | -149.89% | 201.76% | -13.71% | -354.23% | 175.36% | -152.16% | 73.11% | 711.05% | -115.02% | -495.95% | 89.06% | -179.99% | 259.18% | 21.80% | -104.78% | -1,830.64% |
| Net Income Growth (1y) | 8.60% | 27.26% | 37.30% | 86.20% | 56.03% | 34.85% | 22.44% | -33.52% | -56.01% | -66.63% | -61.58% | -48.25% | -18.29% | -31.37% | |||
| Net Income Growth (3y) | -9.33% | -16.96% | -13.56% | -13.80% | -17.53% | -32.41% | |||||||||||
| Net Income (QoQ) | -3.32% | -2.66% | -6.95% | 24.02% | 13.29% | 5.03% | 26.18% | 3.93% | -2.09% | -4.63% | -31.49% | -31.23% | -25.72% | 9.80% | -7.73% | 8.58% | -37.61% |
| Net Income towards Common Stockholders Growth (1y)Net Income Growth (1y) | 8.60% | 27.26% | 37.30% | 86.20% | 56.03% | 34.85% | 22.44% | -33.52% | -56.01% | -66.63% | -61.58% | -48.25% | -18.29% | -31.37% | |||
| Net Income towards Common Stockholders Growth (3y)Net Income Growth (3y) | -9.33% | -16.96% | -13.56% | -13.80% | -17.53% | -32.41% | |||||||||||
| Net Income towards Common Stockholders (QoQ)Net Income (QoQ) | -3.32% | -2.66% | -6.95% | 24.02% | 13.29% | 5.03% | 26.18% | 3.93% | -2.09% | -4.63% | -31.49% | -31.23% | -25.72% | 9.80% | -7.73% | 8.58% | -37.61% |
| Net Margin Growth (1y) | -1550.00 | -889.00 | -214.00 | 692.00 | 665.00 | 337.00 | 119.00 | -915.00 | -1576.00 | -1675.00 | -1345.00 | -762.00 | -82.00 | -208.00 | |||
| Net Margin Growth (3y) | -2461.00 | -2227.00 | -1440.00 | -985.00 | -994.00 | -1545.00 | |||||||||||
| Net Margin (QoQ) | -523.00 | -700.00 | -502.00 | 175.00 | 138.00 | -26.00 | 404.00 | 148.00 | -190.00 | -244.00 | -630.00 | -513.00 | -288.00 | 86.00 | -47.00 | 167.00 | -414.00 |
| Operating Income Growth (1y)Op. Inc Growth (1y) | 66.79% | 62.52% | 49.57% | 47.62% | 24.57% | 18.47% | 17.12% | -9.22% | -14.94% | -22.54% | -25.49% | -14.96% | -11.76% | -11.17% | |||
| Operating Income Growth (3y)Op. Inc Growth (3y) | 20.90% | 14.25% | 9.28% | 4.45% | -2.22% | -6.59% | |||||||||||
| Operating Income (QoQ)Op. Inc (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% | -0.31% | -6.03% | -5.77% |
| Operating Margin Growth (1y) | -697.00 | -506.00 | -37.00 | 409.00 | 271.00 | 58.00 | 42.00 | -635.00 | -941.00 | -1027.00 | -971.00 | -466.00 | 24.00 | -19.00 | |||
| Operating Margin Growth (3y) | -1366.00 | -1475.00 | -966.00 | -692.00 | -645.00 | -988.00 | |||||||||||
| Operating Margin (QoQ) | -102.00 | -491.00 | -144.00 | 40.00 | 89.00 | -22.00 | 302.00 | -98.00 | -124.00 | -38.00 | -376.00 | -403.00 | -211.00 | 18.00 | 129.00 | 87.00 | -253.00 |
| Profit After Tax Growth (1y)PAT 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% | -16.41% | -12.37% | -12.59% | |||
| Profit After Tax Growth (3y)PAT Growth (3y) | 27.61% | 148.68% | 66.69% | -24.76% | -2.88% | -12.23% | |||||||||||
| Profit After Tax (QoQ)PAT (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% | -3.02% | -4.48% | -5.80% |
| Return on Assets [ROA] Growth (1y)ROA Growth (1y) | 75.00 | 70.00 | 57.00 | -5.00 | -72.00 | -124.00 | -162.00 | -151.00 | -112.00 | -71.00 | |||||||
| Return on Assets [ROA] Growth (3y)ROA Growth (3y) | -110.00 | -125.00 | |||||||||||||||
| Return on Assets [ROA] (QoQ)ROA (QoQ) | 11.00 | 10.00 | 29.00 | 25.00 | 6.00 | -3.00 | -32.00 | -43.00 | -46.00 | -41.00 | -22.00 | -4.00 | -5.00 | ||||
| Return on Invested Capital [ROIC] Growth (1y)ROIC Growth (1y) | -33.00 | -87.00 | -117.00 | -150.00 | -143.00 | -120.00 | -94.00 | ||||||||||
| Return on Invested Capital [ROIC] (QoQ)ROIC (QoQ) | 19.00 | -5.00 | -11.00 | -36.00 | -35.00 | -36.00 | -43.00 | -29.00 | -12.00 | -10.00 | |||||||
| Return on Sales [ROS] Growth (1y)ROS Growth (1y) | -697.00 | -506.00 | -37.00 | 409.00 | 271.00 | 58.00 | 42.00 | -635.00 | -941.00 | -1027.00 | -971.00 | -466.00 | 24.00 | -19.00 | |||
| Return on Sales [ROS] Growth (3y)ROS Growth (3y) | -1366.00 | -1475.00 | -966.00 | -692.00 | -645.00 | -988.00 | |||||||||||
| Return on Sales [ROS] (QoQ)ROS (QoQ) | -102.00 | -491.00 | -144.00 | 40.00 | 89.00 | -22.00 | 302.00 | -98.00 | -124.00 | -38.00 | -376.00 | -403.00 | -211.00 | 18.00 | 129.00 | 87.00 | -253.00 |
| 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% | -6.25% | -12.22% | -10.79% | |||
| Revenue Growth (3y) | 31.81% | 25.79% | 16.72% | 9.50% | 2.12% | -0.05% | |||||||||||
| 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% | -3.13% | -7.80% | -0.33% |
| Tax Rate Growth (1y) | -5.00 | 338.00 | 36.00 | 201.00 | 948.00 | 286.00 | 934.00 | ||||||||||
| Tax Rate (QoQ) | -388.00 | 26.00 | 9.00 | 348.00 | -45.00 | -276.00 | 174.00 | 1,095.00 | -707.00 | 371.00 | |||||||
| Total Debt Growth (1y) | -1.80% | -6.15% | 7.05% | 7.17% | 31.91% | 35.13% | 23.18% | 12.53% | 5.74% | 2.20% | -3.33% | ||||||
| Total Debt Growth (3y) | 11.06% | 9.03% | 8.43% | ||||||||||||||
| Total Debt (QoQ) | 3.98% | -1.85% | 10.52% | -12.94% | -0.63% | 11.96% | 10.64% | 7.16% | 1.80% | 2.06% | 1.08% | 0.69% | -1.61% | -3.47% |