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

Net Income Financials Revenue

Morgan Stanley Direct Lending Fund (MSDL) Net Income & Profit History

Annual & trailing net income, net margin, YoY change, and peer profitability context.

MSDL · net income · updated Jun 8, 2026

Core profitability metrics

MSDL · net income · margin · TTM · CAGR

Net income was $122.1M for FY2025 (fiscal year ending 2025-12-31), down 43.4% year-over-year. Net profit margin was 31.6%. Based on available data, Morgan Stanley Direct Lending Fund has been profitable since at least 2020.

FY2025 Net Income$122.1M▼ -43.4% YoY

Trailing 12M (TTM)$87.9Mtrailing 4 quarters sum

Net Profit Margin31.6%$122.1M ÷ $387.0M

YoY Change-43.4%—

5-Year CAGR+46.2%FY2020 → FY2025

FormulaNet Margin = Net Income ÷ Revenue × 100TTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /income-statement · US GAAP · USDUpdated: Jun 8, 2026

Annual net income history

Net Income (bars) · Net Profit Margin % (line)

Net IncomeNet LossNet Margin %★ First Profit: 2020

▸ FMP /income-statement · Annual · MSDL net income history · MSDL profit margin

Annual net income data

MSDL · net income history · annual / quarterly

Fiscal YearNet IncomeYoY ChangeNet MarginRevenue

FY2025$122.1M▼ 43.4%31.6%$387.0M

FY2024$215.6M▼ 6.7%64.8%$332.5M

FY2023$231.0M▲ +375.9%70.4%$328.1M

FY2022$48.5M▼ 41.7%48.4%$100.2M

FY2021$83.3M▲ +355.0%84.4%$98.6M

Net income vs peers (Financial Services)

MSDL vs peers · net income

#CompanyNet IncomeYoYNet MarginRelative

Morgan Stanley Direct Lending FundYOU

MSDL

$122.1M-43.4%31.6%

Berkshire Hathaway Inc.

BRK-B

$66.97B-24.8%18.0%

100%

Berkshire Hathaway Inc.

Mastercard Incorporated

$14.97B+16.3%45.6%

22%

Financial Services · Sorted by Net Income · FMP /income-statementFull Net Income Rankings →

About Net Income & Methodology

Morgan Stanley Direct Lending Fund (MSDL) reported net income of $122.1M for FY2025 (fiscal year ending 2025-12-31), down 43.4% year-over-year. The net profit margin was 31.6% — meaning the company kept $0.32 of every dollar of revenue as profit.

Based on available data, Morgan Stanley Direct Lending Fund has been profitable since at least 2020. Net income reached a peak of $231.0M in FY2023. Data available for 7 fiscal years.

Morgan Stanley Direct Lending Fund's net profit margin was 31.6% for FY2025, based on the latest annual results.

Investors sometimes search for "Morgan Stanley Direct Lending Fund net worth" — the company's market capitalization is a separate figure from MSDL net income. Data sourced from FMP /income-statement · US GAAP · USD.

Figures tie to SEC 10-K/10-Q and FMP /income-statement where noted.

Revenue Financial statements Earnings Forecast Price history Market cap Free cash flow

Frequently asked questions

MSDL net income · 5 questions

Morgan Stanley Direct Lending Fund is profitable. The company reported net income of $122.1M for FY2025, a net profit margin of 31.6%. Net income was down 43.4% year-over-year. Based on available data, Morgan Stanley Direct Lending Fund has been profitable since at least 2020.

is MSDL profitabledoes MSDL make a profitMSDL profitabilityMSDL profitable company

▸ Source: FMP /income-statement · GAAP · Morgan Stanley Direct Lending Fund · Morgan Stanley Direct Lending Fund SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026