Morgan Stanley Direct Lending Fund (MSDL) Quarterly Financials

120+ quarters historyFree accessUpdated daily

Morgan Stanley Direct Lending Fund (MSDL) quarterly income statement — complete revenue, gross profit & net income history

Annual Quarterly

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23

Sales/Revenue	-	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Goods Sold	-	-	-	-	-	-	-	-	-	-	-	-
COGS % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	59.77M	69.99M	30.78M	38.34M	31.26M	50.82M	51.85M	57.62M	49.31M	54.23M	69.12M	52.05M
Gross Margin %	79.63%	80.52%	47.59%	52.48%	47.77%	60.48%	61%	66.29%	64.4%	65.46%	69.95%	65.1%
Gross Profit Growth %	91.19%	37.71%	-40.63%	-33.46%	-36.6%	-6.29%	-24.99%	10.7%	23.76%	245.01%	1110.9%	824.93%
Operating Expenses	33.6M	7.92M	2.78M	2.04M	963K	-1.81M	-1.86M	-1.93M	-2.81M	-4.67M	-4.29M	-4.39M
OpEx % of Revenue	44.77%	9.11%	4.29%	2.79%	1.47%	-2.15%	-2.19%	-2.22%	-3.67%	-5.64%	-4.34%	-5.49%
Selling, General & Admin	0	2.24M	2.78M	2.04M	1.98M	2.09M	2.1M	1.88M	1.5M	1.36M	1.53M	1.19M
SG&A % of Revenue	-	2.58%	4.29%	2.79%	3.02%	2.49%	2.47%	2.17%	1.95%	1.65%	1.54%	1.49%
Research & Development	-	-	-	-	-	-	-	-	-	-	-	-
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	26.16M	62.07M	28M	36.3M	30.3M	52.63M	53.71M	59.55M	52.12M	58.91M	73.41M	56.44M
Operating Margin %	34.86%	71.41%	43.29%	49.69%	46.3%	62.63%	63.18%	68.51%	68.07%	71.09%	74.3%	70.59%
Operating Income Growth %	-13.64%	17.94%	-47.86%	-39.04%	-41.87%	-10.66%	-26.84%	5.5%	19.06%	188.03%	677.46%	1829.76%
EBITDA	26.16M	62.07M	28M	36.3M	30.3M	52.63M	53.71M	59.55M	52.12M	58.91M	73.41M	56.44M
EBITDA Margin %	34.85%	71.41%	43.29%	49.69%	46.3%	62.63%	63.18%	68.51%	68.07%	71.09%	74.3%	70.59%
EBITDA Growth %	-13.67%	17.94%	-47.86%	-39.04%	-41.87%	-10.66%	-26.84%	5.5%	19.06%	188.03%	677.46%	1829.76%
D&A (Non-Cash Add-back)	0	0	0	0	0	0	0	0	0	0	0	0
EBIT	26.16M	62.07M	28M	36.3M	30.3M	52.63M	53.71M	59.55M	52.12M	58.91M	73.41M	56.44M
Net Interest Income	56.44M	56.3M	63.67M	62.98M	64.99M	67.44M	74.13M	72.62M	70.02M	69.71M	62.43M	59.29M
Interest Income	87.11M	89.64M	97.57M	97.68M	99.17M	100.65M	107.28M	101.92M	97.28M	98.33M	92.12M	87.19M
Interest Expense	30.66M	33.34M	33.9M	34.71M	34.18M	33.21M	33.15M	29.3M	27.26M	28.62M	29.69M	27.91M
Other Income/Expense	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-4.51M	28.73M	28M	36.3M	30.3M	52.63M	53.71M	59.55M	52.12M	57.39M	73.41M	56.44M
Pretax Margin %	-6.01%	33.05%	43.29%	49.69%	46.3%	62.63%	63.18%	68.51%	68.07%	69.26%	74.3%	70.59%
Income Tax	0	0	402K	200K	627K	1M	501K	500K	436K	0	0	0
Effective Tax Rate %	0%	0%	1.44%	0.55%	2.07%	1.9%	0.93%	0.84%	0.84%	0%	0%	0%
Net Income	-4.51M	28.73M	27.6M	36.1M	29.67M	51.63M	53.21M	59.05M	51.68M	57.39M	73.41M	56.44M
Net Margin %	-6.01%	33.05%	42.67%	49.42%	45.34%	61.44%	62.59%	67.93%	67.5%	69.26%	74.3%	70.59%
Net Income Growth %	-115.2%	-44.36%	-48.12%	-38.87%	-42.59%	-10.03%	-27.52%	4.61%	18.06%	185.27%	677.46%	1829.76%
Net Income (Continuing)	-4.51M	28.73M	27.6M	36.1M	29.67M	51.63M	53.21M	59.05M	51.68M	57.39M	73.41M	56.44M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	-0.05	0.33	0.32	0.41	0.34	0.58	0.60	0.66	0.59	0.70	0.83	0.64
EPS Growth %	-115.47%	-43.1%	-46.67%	-37.88%	-42.37%	-17.14%	-27.71%	3.13%	18%	169.23%	654.55%	1829.73%
EPS (Basic)	-0.05	0.33	0.32	0.41	0.34	0.58	0.60	0.66	0.59	0.70	0.83	0.64
Diluted Shares Outstanding	85.78M	87.27M	86.84M	87.19M	88.41M	89.26M	89.26M	89.27M	87.36M	81.98M	88.28M	88.28M
Basic Shares Outstanding	85.78M	87.27M	86.84M	87.19M	88.41M	89.26M	89.26M	89.27M	87.36M	81.98M	88.28M	88.28M
Dividend Payout Ratio	-	151.09%	157.54%	121.92%	179.09%	103.51%	83.89%	57.29%	71.93%	54.35%	40.54%	45.5%

Morgan Stanley Direct Lending Fund (MSDL) Quarterly Financials

120+ quarters historyFree accessUpdated daily

Morgan Stanley Direct Lending Fund (MSDL) quarterly income statement — complete revenue, gross profit & net income history

Annual Quarterly

Metric	Q1'26	Q4'25	Q3'25	Q2'25	Q1'25	Q4'24	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23	Q2'23

Sales/Revenue	-	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth %	-	-	-	-	-	-	-	-	-	-	-	-
Cost of Goods Sold	-	-	-	-	-	-	-	-	-	-	-	-
COGS % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-
Gross Profit	59.77M	69.99M	30.78M	38.34M	31.26M	50.82M	51.85M	57.62M	49.31M	54.23M	69.12M	52.05M
Gross Margin %	79.63%	80.52%	47.59%	52.48%	47.77%	60.48%	61%	66.29%	64.4%	65.46%	69.95%	65.1%
Gross Profit Growth %	91.19%	37.71%	-40.63%	-33.46%	-36.6%	-6.29%	-24.99%	10.7%	23.76%	245.01%	1110.9%	824.93%
Operating Expenses	33.6M	7.92M	2.78M	2.04M	963K	-1.81M	-1.86M	-1.93M	-2.81M	-4.67M	-4.29M	-4.39M
OpEx % of Revenue	44.77%	9.11%	4.29%	2.79%	1.47%	-2.15%	-2.19%	-2.22%	-3.67%	-5.64%	-4.34%	-5.49%
Selling, General & Admin	0	2.24M	2.78M	2.04M	1.98M	2.09M	2.1M	1.88M	1.5M	1.36M	1.53M	1.19M
SG&A % of Revenue	-	2.58%	4.29%	2.79%	3.02%	2.49%	2.47%	2.17%	1.95%	1.65%	1.54%	1.49%
Research & Development	-	-	-	-	-	-	-	-	-	-	-	-
R&D % of Revenue	-	-	-	-	-	-	-	-	-	-	-	-
Other Operating Expenses	-	-	-	-	-	-	-	-	-	-	-	-
Operating Income	26.16M	62.07M	28M	36.3M	30.3M	52.63M	53.71M	59.55M	52.12M	58.91M	73.41M	56.44M
Operating Margin %	34.86%	71.41%	43.29%	49.69%	46.3%	62.63%	63.18%	68.51%	68.07%	71.09%	74.3%	70.59%
Operating Income Growth %	-13.64%	17.94%	-47.86%	-39.04%	-41.87%	-10.66%	-26.84%	5.5%	19.06%	188.03%	677.46%	1829.76%
EBITDA	26.16M	62.07M	28M	36.3M	30.3M	52.63M	53.71M	59.55M	52.12M	58.91M	73.41M	56.44M
EBITDA Margin %	34.85%	71.41%	43.29%	49.69%	46.3%	62.63%	63.18%	68.51%	68.07%	71.09%	74.3%	70.59%
EBITDA Growth %	-13.67%	17.94%	-47.86%	-39.04%	-41.87%	-10.66%	-26.84%	5.5%	19.06%	188.03%	677.46%	1829.76%
D&A (Non-Cash Add-back)	0	0	0	0	0	0	0	0	0	0	0	0
EBIT	26.16M	62.07M	28M	36.3M	30.3M	52.63M	53.71M	59.55M	52.12M	58.91M	73.41M	56.44M
Net Interest Income	56.44M	56.3M	63.67M	62.98M	64.99M	67.44M	74.13M	72.62M	70.02M	69.71M	62.43M	59.29M
Interest Income	87.11M	89.64M	97.57M	97.68M	99.17M	100.65M	107.28M	101.92M	97.28M	98.33M	92.12M	87.19M
Interest Expense	30.66M	33.34M	33.9M	34.71M	34.18M	33.21M	33.15M	29.3M	27.26M	28.62M	29.69M	27.91M
Other Income/Expense	-	-	-	-	-	-	-	-	-	-	-	-
Pretax Income	-4.51M	28.73M	28M	36.3M	30.3M	52.63M	53.71M	59.55M	52.12M	57.39M	73.41M	56.44M
Pretax Margin %	-6.01%	33.05%	43.29%	49.69%	46.3%	62.63%	63.18%	68.51%	68.07%	69.26%	74.3%	70.59%
Income Tax	0	0	402K	200K	627K	1M	501K	500K	436K	0	0	0
Effective Tax Rate %	0%	0%	1.44%	0.55%	2.07%	1.9%	0.93%	0.84%	0.84%	0%	0%	0%
Net Income	-4.51M	28.73M	27.6M	36.1M	29.67M	51.63M	53.21M	59.05M	51.68M	57.39M	73.41M	56.44M
Net Margin %	-6.01%	33.05%	42.67%	49.42%	45.34%	61.44%	62.59%	67.93%	67.5%	69.26%	74.3%	70.59%
Net Income Growth %	-115.2%	-44.36%	-48.12%	-38.87%	-42.59%	-10.03%	-27.52%	4.61%	18.06%	185.27%	677.46%	1829.76%
Net Income (Continuing)	-4.51M	28.73M	27.6M	36.1M	29.67M	51.63M	53.21M	59.05M	51.68M	57.39M	73.41M	56.44M
Discontinued Operations	0	0	0	0	0	0	0	0	0	0	0	0
Minority Interest	0	0	0	0	0	0	0	0	0	0	0	0
EPS (Diluted)	-0.05	0.33	0.32	0.41	0.34	0.58	0.60	0.66	0.59	0.70	0.83	0.64
EPS Growth %	-115.47%	-43.1%	-46.67%	-37.88%	-42.37%	-17.14%	-27.71%	3.13%	18%	169.23%	654.55%	1829.73%
EPS (Basic)	-0.05	0.33	0.32	0.41	0.34	0.58	0.60	0.66	0.59	0.70	0.83	0.64
Diluted Shares Outstanding	85.78M	87.27M	86.84M	87.19M	88.41M	89.26M	89.26M	89.27M	87.36M	81.98M	88.28M	88.28M
Basic Shares Outstanding	85.78M	87.27M	86.84M	87.19M	88.41M	89.26M	89.26M	89.27M	87.36M	81.98M	88.28M	88.28M
Dividend Payout Ratio	-	151.09%	157.54%	121.92%	179.09%	103.51%	83.89%	57.29%	71.93%	54.35%	40.54%	45.5%

MSDL Income Statement

MSDL Income Statement