Morgan Stanley Direct Lending Fund

MSDLNYSEFinancial Services● Active

$15.11

$-0.04(-0.26%)

Market Cap$1.3B

P/E Ratio—

52W High$19.94

52W Low$13.66

Avg Volume712K

Open$15.15

Beta0.62

Cash on Hand Financials Revenue

Morgan Stanley Direct Lending Fund (MSDL) Cash on Hand — Cash & Short-Term Investments

Cash & cash equivalents plus short-term investments from the balance sheet, YoY change, and net cash vs debt context.

MSDL · cash on hand · updated Dec 31, 2025

Core cash position

as of Dec 31, 2025

Cash & Short-Term Investments (CCE + ST Investments)

$81.4M▲ +15.7% vs prior year

FY · as of Dec 31, 2025 · Reported in USD

Cash & Cash Equiv. (CCE)

$81.4M

cashAndCashEquivalents

Short-Term Investments

shortTermInvestments

YoY Change vs Prior Year

+15.7%

vs prior fiscal year

Latest Quarter

$96.7M

Q1 2026

Data Scope & Methodology

Cash on Hand = Cash & Cash Equivalents (CCE) + Short-Term Investments, as reported on the balance sheet (10-K/10-Q). Also referred to as cash reserves or cash position. Not free cash flow.

Source: FMP /balance-sheet-statement · SEC 10-K / 10-Q · Reported in USD

Source: FMP /balance-sheet-statement · SEC 10-K / 10-Q · USDUpdated: December 31, 2025

Net cash vs debt

Cash vs Debt · Balance Sheet Health

Cash & ST Investments$81.4MCash on Hand

Total Debt$2.09BTotal Debt

Net Cash / Net Debt−$2.01BNet Debt Position

Cash vs Debt Ratio

Cash 4%Morgan Stanley Direct Lending Fund cash as % of market cap: 6.36%% · MCap $1BDebt 96%

Morgan Stanley Direct Lending Fund carries a net debt position of $2.01B. Total debt ($2.09B) exceeds cash on hand ($81.4M). Morgan Stanley Direct Lending Fund cash vs debt ratio: 4% cash / 96% debt.

Net Cash = Cash & ST Investments − Total Debt$81.4M − $2.09B = −$2.01B

Cash on hand history

annual cash on hand trend · Cash & Short-Term Investments

YoY Increase

YoY Decrease

Latest Year

MSDL annual cash on hand history · Cash & Short-Term Investments · Source: FMP /balance-sheet-statement

Annual cash on hand by year

MSDL cash & short-term investments history

DatePeriodCash & ST InvestmentsYoY Change

Dec 31, 2025LatestFY$81.4M+15.7%

Dec 31, 2024FY$70.4M+1.0%

Dec 31, 2023FY$69.7M-14.2%

Dec 31, 2022FY$81.2M+9.5%

Dec 31, 2021FY$74.2M+558.4%

MSDL cash on hand annual historical data · Cash & Short-Term Investments per balance sheet (10-K/10-Q) · Reported in USD · Source: FMP /balance-sheet-statement

Financial Services Sector Cash Reserves Comparison

MSDL vs peers · cash on hand

#CompanyCash & ST Inv.Market CapCash/MCapRelative

Berkshire Hathaway Inc.

Mastercard Incorporated

$10.90B$429B2.5%

Morgan Stanley Direct Lending FundYOU

MSDL

$81.4M$1B6.4%

Financial Services sector cash reserves · Source: FMP /balance-sheet-statement + /profile · Sorted by Cash desccompanies with most cash on hand →

About cash on hand & methodology

Morgan Stanley Direct Lending Fund (MSDL) cash on hand as of December 31, 2025 is $81.4M, comprising $81.4M in cash and cash equivalents (CCE) plus $0 in short-term investments — reported as Morgan Stanley Direct Lending Fund cash and short-term investments on the balance sheet (10-K filing). Also referred to as Morgan Stanley Direct Lending Fund cash reserves or cash position.

Morgan Stanley Direct Lending Fund annual cash on hand history shows increased +15.7% in 2025: increased +15.7% in 2025. Morgan Stanley Direct Lending Fund cash reserves in 2025 reflect the company's capital allocation strategy.

Morgan Stanley Direct Lending Fund carries total debt of $2.09B against cash of $81.4M, resulting in a net debt position of -$2.01B. For the full balance sheet, see the Financials → Balance Sheet tab.

Figures tie to SEC 10-K/10-Q balance sheet disclosures and FMP /balance-sheet-statement where noted.

Financial statements Free cash flow Net income Revenue Market cap P/E ratio Earnings Price history

Frequently asked questions

MSDL cash on hand · 5 questions

As of December 31, 2025, Morgan Stanley Direct Lending Fund (MSDL) has $81,434,000 in cash on hand — defined as cash and short-term investments on the balance sheet. This includes $81,434,000 in cash and cash equivalents (CCE) plus $0 in short-term investments. Latest quarter (March 31, 2026): $96,693,000. Data sourced from the annual 10-K filing via FMP.

MSDL cash on handMSDL cash reservesMSDL cash 2025how much cash does MSDL have

▸ Source: FMP /balance-sheet-statement · US GAAP · Morgan Stanley Direct Lending Fund · Morgan Stanley Direct Lending Fund SEC 10-K & 10-Q filings · US GAAP · Last updated: December 31, 2025