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Morgan Stanley Direct Lending Fund MSDL

NYSE · stock · website · IPO 2024-01-24 · LEI

Morgan Stanley Direct Lending Fund statistics & valuation

Market cap$1.3B
P / E10.7×
P / B0.7×
Dividend yield14.08%
Return on equity7.0%
Net debt$2.0B
Enterprise value USD$3.3B
Graham number +64.6%$25.12

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports. The Graham number is Benjamin Graham's rough maximum fair value ($25.12); a green figure means the price is below it.

Profitability & efficiency

Gross margin (%)
2022202320242025
Operating margin (%)
2022202320242025
Return on equity (%)
3.50% 13.40% 11.70% 7.00% 2022202320242025
Shares outstanding
70.5M 83.3M 88.6M 87.3M 2022202320242025
Net debt ($)
$1.44B $1.43B $1.91B $2.01B 2022202320242025
Share buybacks ($)
2022202320242025
Return on assets (%)
1.60% 7.00% 5.50% 3.10% 2022202320242025
Free cash flow margin (%)
2022202320242025
Debt / equity (×)
1.09× 0.87× 1.07× 1.19× 2022202320242025
EPS ($)
$0.79 $3.11 $2.43 $1.40 2022202320242025

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

Key ratios (by fiscal year)

RatioFY2025FY2024FY2023FY2022
Return on assets3.1%5.5%7.0%1.6%
Return on equity7.0%11.7%13.4%3.5%
Debt / equity1.19×1.07×0.87×1.09×

Computed from company filings · US · as of 2025-12-31. Facts plus Stocktoria's own computed scores — not investment advice.