SequelSEC

Morgan Stanley Direct Lending Fund MSDL

Industry unavailable · CIK 0001782524 · Fiscal year ends 1231

AnnualQuarterlyTTM
Revenue
Unavailable
Fiscal year ended 2025-12-31
Operating income
Unavailable
Fiscal year ended 2025-12-31
Free cash flow
Unavailable
Fiscal year ended 2025-12-31

Morgan Stanley Direct Lending Fund (MSDL) reported net income of $122.09M for the fiscal year ended 2025-12-31. This page shows 5 annual periods of income statement, balance sheet and cash flow figures normalized from Morgan Stanley Direct Lending Fund’s SEC filings, each linked to the filing it came from.

Income

Morgan Stanley Direct Lending Fund income by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
RevenueUnavailableUnavailableUnavailableUnavailableUnavailable
Cost of revenueUnavailableUnavailableUnavailableUnavailableUnavailable
Gross profitUnavailableUnavailableUnavailableUnavailableUnavailable
Operating incomeUnavailableUnavailableUnavailableUnavailableUnavailable
Net income$122.09M$215.56M$231.01M$48.54M$83.26M
Research & developmentUnavailableUnavailableUnavailableUnavailableUnavailable
Weighted-average diluted sharesshares 87.27Mshares 88.65Mshares 74.24Mshares 61.68Mshares 31.16M
Pretax incomeUnavailableUnavailableUnavailableUnavailableUnavailable
Income tax expenseUnavailableUnavailableUnavailableUnavailableUnavailable
Diluted EPS$1.40$2.43$3.11$0.79$2.67
Selling, general & administrativeUnavailableUnavailableUnavailableUnavailableUnavailable
General & administrativeUnavailableUnavailableUnavailableUnavailableUnavailable
Selling & marketingUnavailableUnavailableUnavailableUnavailableUnavailable

Balance

Morgan Stanley Direct Lending Fund balance by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Cash & equivalents$81.43M$63.40M$69.70M$81.22MUnavailable
Total assets$3.92B$3.91B$3.31B$2.99BUnavailable
Current assetsUnavailableUnavailableUnavailableUnavailableUnavailable
Total liabilities$2.17B$2.07B$1.59B$1.59BUnavailable
Current liabilitiesUnavailableUnavailableUnavailableUnavailableUnavailable
Total equity incl. NCI$1.75B$1.84B$1.72B$1.40B$1.19B
Temporary (mezzanine) equityUnavailableUnavailableUnavailableUnavailableUnavailable
InventoryUnavailableUnavailableUnavailableUnavailableUnavailable
Accounts receivableUnavailableUnavailableUnavailableUnavailableUnavailable
GoodwillUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt$2.09B$1.97B$1.50B$1.52BUnavailable
Accounts payableUnavailableUnavailableUnavailableUnavailableUnavailable

Cash flow

Morgan Stanley Direct Lending Fund cash flow by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Operating cash flow$150.90M-$382.51M-$83.82M-$429.84M-$1.66B
Capital expendituresUnavailableUnavailableUnavailableUnavailableUnavailable
Investing cash flowUnavailableUnavailableUnavailableUnavailableUnavailable
Financing cash flow-$132.90M$376.19M$72.31M$436.90M$1.72B
Net change in cashUnavailableUnavailable-$11.51M$7.06M$62.89M
Stock-based compensationUnavailableUnavailableUnavailableUnavailableUnavailable
Common dividends paid$184.03M$169.08M$110.50M$85.75M$38.22M
Common share repurchases$41.96M$18.06M$0$0Unavailable
Depreciation & amortizationUnavailableUnavailableUnavailableUnavailableUnavailable

Derived

Morgan Stanley Direct Lending Fund derived by fiscal year, in US dollars, normalized from SEC filings.
Metric2025-12-312024-12-312023-12-312022-12-312021-12-31
Free cash flowUnavailableUnavailableUnavailableUnavailableUnavailable
Gross marginUnavailableUnavailableUnavailableUnavailableUnavailable
Operating marginUnavailableUnavailableUnavailableUnavailableUnavailable
FCF marginUnavailableUnavailableUnavailableUnavailableUnavailable
SBC / revenueUnavailableUnavailableUnavailableUnavailableUnavailable
Current ratioUnavailableUnavailableUnavailableUnavailableUnavailable
Revenue YoY growthUnavailableUnavailableUnavailableUnavailableUnavailable
Net marginUnavailableUnavailableUnavailableUnavailableUnavailable
R&D / revenueUnavailableUnavailableUnavailableUnavailableUnavailable
CapEx / revenueUnavailableUnavailableUnavailableUnavailableUnavailable
Long-term debt / equity1.19xUnavailableUnavailableUnavailableUnavailable
Effective tax rateUnavailableUnavailableUnavailableUnavailableUnavailable

Amounts are abbreviated; the exact reported value is carried in each cell. — means unavailable, not zero. Open MSDL in the interactive workspace to inspect any figure back to its filing.

Source filings

10-Q · Filed 2026-08-06View SEC filing
10-Q · Filed 2026-05-07View SEC filing
10-K · Filed 2026-02-26View SEC filing
10-Q · Filed 2025-11-06View SEC filing
10-Q · Filed 2025-08-07View SEC filing
10-Q · Filed 2025-05-08View SEC filing

Every accounting identity this site checks — the balance sheet, the gross profit bridge and the cash flow statement — reconciles in every period shown.