M

    Morgan Stanley Direct Lending Fund (MSDL)

    FINANCIAL SERVICES • ASSET MANAGEMENT • NYSE

    $15.35
    +0.17 (+1.12%)

    Market Cap: $1.28B

    Last updated: Sep 01, 2026 at 10:00 AM ET

    Earnings

    Performance (10Y)

    Beat Rate
    55%(6/11)
    Avg Surprise
    -1.31%
    Streak
    4 Q

    Upcoming Estimates

    Sep 30, 2026
    EPS Consensus$0.44
    Range$0.42 - $0.45
    7 analysts
    EPS RevisionsNo revisions (7d)
    0
    1
    30d
    EPS Estimate Drift
    90d ago$0.46+5.4%
    60d ago$0.46+5.3%
    30d ago$0.46+4.8%
    7d ago$0.46+5.0%
    Current$0.44
    Revenue Consensus
    $88M
    Range$86M - $88M
    5 analysts
    Dec 31, 2026
    EPS Consensus$0.46
    Range$0.43 - $0.49
    7 analysts
    Revenue Consensus
    $88M
    Range$84M - $91M
    5 analysts
    PeriodReportedEst.SurpriseB/MYoY
    Dec 26EST
    		-$0.46---
    Sep 26EST
    		-$0.44---
    Jun 26
    		$0.45$0.44+2.27%Beat-10.0%
    Mar 26
    		$0.47$0.46+2.17%Beat-9.6%
    Dec 25
    		$0.49$0.49+0.00%Beat-15.5%
    Sep 25
    		$0.50$0.50+0.00%Beat-16.7%
    Jun 25
    		$0.50$0.52-3.85%Miss-20.6%
    Mar 25
    		$0.52$0.55-5.45%Miss-17.5%
    Dec 24
    		$0.58$0.60-3.33%Miss-13.4%
    Sep 24
    		$0.60$0.64-6.25%Miss-
    Jun 24
    		$0.63$0.62+1.61%Beat-
    Mar 24
    		$0.63$0.65-3.08%Miss-
    Dec 23
    		$0.67$0.66+1.52%Beat-

    Dividends

    Dividend Metrics

    Yield12.38%
    Annual/Share$1.90
    Payout Ratio93.42%
    Frequency4
    Pay MonthsJan, Apr, Jul, Oct
    View MSDL's full dividend history

    Key Metrics

    Valuation
    P/E Ratio8.04EV/EBITDAN/A
    Price/FCF4.60xFCF Yield21.75%
    Profitability
    Profit Margin16.00%Operating Margin79.90%
    ROE3.48%ROIC10.67%
    Financial Health
    Debt/Equity1.20xInterest Coverage3.02x
    Current Ratio48.90xQuick Ratio48.90x
    Trading Statistics
    Beta0.62Avg Volume425.21K
    52-Week High$16.3452-Week Low$13.13

    Technical Indicators Dashboard

    Moving Averages

    SMA 10$15.33
    SMA 20$15.33
    SMA 50$15.24
    SMA 200$14.94
    EMA 10$15.32
    EMA 20$15.30
    EMA 50$15.21
    EMA 200$15.14

    MACD

    Line: 0.03Signal: 0.04Hist: -0.01

    ADX

    ADX: 7.9+DI: 15.0-DI: 19.6

    Aroon & PSAR

    Aroon Up52.0
    Aroon Down16.0
    PSAR$15.64

    Bollinger Bands

    Upper Band$15.56
    Lower Band$15.11
    %B Position295%(Upper)
    Band Width0.53

    RSI (14-Day)

    Neutral
    52.1

    Momentum Oscillators

    Stoch %K30.1
    Stoch %D35.0
    Williams %R-57.9
    ROC (10d)-0.1%
    Momentum-0.01
    CCI (20d)-28.1
    MFI (14d)51.1

    Volatility Measures

    ATR (14d)$0.28(1.8%)
    StdDev (20d)0.11
    Hist Vol16.2%(Low)

    Volume Flow

    VWAP$15.30
    OBV-27.4M
    AD Line-2.6B
    CMF (20d)-0.035

    Volume Metrics

    Avg Vol (20d)431.1K
    Vol Ratio0.9x
    VWMA (20d)$15.35

    Pivot Points

    R3$15.53
    R2$15.46
    R1$15.32
    Pivot Point$15.25
    S1$15.11
    S2$15.04
    S3$14.90

    Advanced Oscillators

    TSI3.01
    Ultimate Osc42.9
    KST8.06

    Financial Data

    QuarterJun 2026Mar 2026Dec 2025Sep 2025Jun 2025Mar 2025Dec 2024Sep 2024Jun 2024Mar 2024Dec 2023Sep 2023
    Total Revenue$87.41M$87.94M$188.60M$98.25M$98.33M$99.76M$-83,460,000$0$6.02M$100.94M$-254,766,000$98.50M
    Cost of Revenue$0$0$375,000$0$0$0$1.21M$0$0$-1,210,000$28.62M$0
    Gross Profit$87.41M$87.94M$188.22M$98.25M$98.33M$99.76M$-84,670,000$0$6.02M$102.15M$-254,766,000$98.50M
    Operating Expenses$17.80M$17.05M$19.48M$21.69M$20.94M$21.44M$31.51M$11.20M$21.93M$21.06M$20.65M$20.01M
    R&D$0$0$0$0$0$0$0$0$0$0$0$0
    SG&A$1.97M$1.70M$2.34M$2.65M$1.91M$1.85M$1.76M$1.97M$1.74M$1.35M$1.09M$1.44M
    Operating Income$69.61M$70.89M$168.75M$76.57M$77.39M$78.32M$-116,178,000$-11,196,000$-15,915,000$81.09M$-275,420,000$78.49M
    Interest Income$0$0$0$0$0$0$0$-54,477,000$99.72M$0$357.53M$5,000
    Interest Expense$32.02M$30.66M$33.34M$33.90M$34.71M$34.18M$-17,309,000$83.67M$29.30M$27.26M$28.62M$29.69M
    Income Before Tax$38.94M$41.35M$43.05M$44.14M$43.92M$45.83M$265.83M$-154,871,000$56.62M$55.09M$56.86M$50.58M
    Income Tax Expense$800,000$834,000$0$402,000$200,000$627,000$0$501,000$0$436,000$0$0
    Net Income$38.16M$40.51M$49.97M$43.73M$43.66M$46.23M$198.51M$-96,643,000$59.05M$54.65M$88.42M$50.57M
    EBITDA$93.06M$102.43M$175.40M$92.54M$84.75M$94.91M$-125,441,000$-24,792,000$-19,702,000$78.54M$-277,822,000$56.75M
    EBIT$70.95M$72.01M$170.94M$78.04M$78.63M$80.00M$-123,757,000$-16,719,000$-14,187,000$82.35M$-273,443,000$80.26M
    * Some calculated fields are derived from available data when not provided by source

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    News

    Morgan Stanley Direct Lending Fund trades at 21% discount amid dividend and asset quality concerns

    The Morgan Stanley Direct Lending Fund (MSDL) is currently trading at a 21% discount to its net asset value, driven by investor concerns regarding the sustainability of its dividend and the quality of its assets. The fund has experienced a shrinking portfolio for four consecutive quarters, an increase in non-accrual loans, and a decline in net investment income per share. Despite a recent dividend cut, coverage remains fragile at 101%, indicating a high risk of further reductions if current negative trends persist.

    Pluang•8/23/26•
    Bearish

    Morgan Stanley Direct Lending Fund downgraded to Sell amid rising loan defaults and weak dividend coverage

    Morgan Stanley Direct Lending Fund has been downgraded to a Sell rating due to increased non-accrual loans, declining net investment income, and weak dividend coverage. The fund faces elevated default risks through 2027-2029, particularly from upcoming loan maturities in software sectors and risky loans issued between 2021-2022. These factors signal caution for investors.

    Pluang•8/22/26•
    Bearish

    Trading the Move, Not the Narrative: (MSDL) Edition

    This article analyzes Morgan Stanley Direct Lending Fund (MSDL), highlighting a neutral sentiment across all time horizons and an mid-channel oscillation pattern. It presents an exceptional 18.6:1 risk-reward short setup and outlines three AI-generated trading strategies: Position Trading, Momentum Breakout, and Risk Hedging.

    Stock Traders Daily•8/15/26•
    Neutral

    Morgan Stanley Direct Lending Fund faces worsening results, likely dividend cut ahead.

    Morgan Stanley Direct Lending Fund (MSDL) experienced a challenging Q2 2026, marked by declining dividend coverage, a decrease in net asset value (NAV), and a doubling of non-accrual loans. These issues suggest a high probability of another dividend reduction. An analyst previously downgraded MSDL to a hold, and a further cut could create a future buying opportunity after a valuation pullback.

    Pluang•8/13/26•
    Neutral

    Wells Fargo Keeps Their Hold Rating on Morgan Stanley Direct Lending Fund (MSDL)

    Wells Fargo analyst Finian O’Shea maintained a Hold rating on Morgan Stanley Direct Lending Fund (MSDL) with a price target of $14.00. The analyst's average return is 6.0% with a 57.41% success rate on recommended stocks. MSDL recently reported a quarterly revenue of $88.77 million and a net profit of $38.96 million.

    The Globe and Mail•8/12/26•
    Neutral

    Frequently Asked Questions About MSDL

    What is MSDL's current dividend yield?
    Morgan Stanley Direct Lending Fund (MSDL) has a current dividend yield of 12.38%.
    Does MSDL pay dividends?
    Yes, Morgan Stanley Direct Lending Fund pays dividends with a current yield of 12.38%.
    What is MSDL's P/E ratio?
    Morgan Stanley Direct Lending Fund has a price-to-earnings (P/E) ratio of 8.04.
    What is MSDL's market cap?
    Morgan Stanley Direct Lending Fund (MSDL) has a market capitalization of $1.28B with a current stock price of $15.35.

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