MSDL

Company Overview — What Does Morgan Stanley Direct Lending Fund Do?

Morgan Stanley Direct Lending Fund (MSDL) is a small-cap company in the Other sector. The stock has a market capitalization of $1.2B, making it a notable participant in its sector. Investors researching MSDL stock will find a comprehensive, data-driven analysis below covering valuation, profitability, growth, dividends, and peer comparisons for the Other space.

Morgan Stanley Direct Lending Fund (MSDL) Stock Rating — Reduce (April 2026)

As of April 2026, Morgan Stanley Direct Lending Fund receives a Reduce rating with a composite score of 38.0/100 and 2 out of 5 stars from the Blank Capital Research quantitative model.MSDL ranks #3,113 out of 4,446 stocks in our coverage universe. Within the Other sector, Morgan Stanley Direct Lending Fund ranks #20 of 37 stocks, placing it in the lower half of its Other peers. The rating is generated by a multi-factor model that weighs quality (30%), momentum (25%), value (15%), investment (10%), stability (10%), and short interest (10%).

MSDL Stock Price and 52-Week Range

Morgan Stanley Direct Lending Fund (MSDL) currently trades at $14.13. The 52-week high for MSDL is $20.90, which means the stock is currently trading -32.4% from its annual peak. The 52-week low is $14.32, putting the stock -1.3% above its annual trough. Recent trading volume was 0 shares, suggesting relatively thin trading activity.

Is MSDL Overvalued or Undervalued? — Valuation Analysis

Morgan Stanley Direct Lending Fund (MSDL) carries a value factor score of 35/100 in the Blank Capital model, signaling premium valuation that prices in significant future growth. The trailing price-to-earnings ratio is 8.07x, compared to the Other sector average of 19.28x — a discount of 58%. The price-to-book ratio stands at 0.68x, versus the sector average of 1.24x. The price-to-sales ratio is 6.10x, compared to 1.07x for the average Other stock.

At current multiples, Morgan Stanley Direct Lending Fund trades at a premium to most Other peers. This elevated valuation may be justified if the company can sustain above-average growth rates and profitability, but it also creates downside risk if earnings disappoint expectations.

Morgan Stanley Direct Lending Fund Profitability — ROE, Margins, and Quality Score

Morgan Stanley Direct Lending Fund (MSDL) earns a quality factor score of 25/100, signaling below-average profitability metrics relative to the broader market. The return on equity (ROE) is 8.4%, compared to the Other sector average of 8.4%, which is below typical expectations for high-quality companies. Return on assets (ROA) comes in at 3.7% versus the sector average of 1.3%.

Net profit margin stands at 74.5%, versus 6.4% for the average Other stock. Revenue growth is running at -22.1% on a trailing basis, compared to 7.8% for the sector. Profitability is below benchmark levels, which may reflect industry headwinds, elevated reinvestment, or structural challenges.

MSDL Debt, Balance Sheet, and Financial Health

Morgan Stanley Direct Lending Fund has a debt-to-equity ratio of 119.0%, compared to the Other sector average of 90.0%. Leverage is within a manageable range for the industry, though investors should monitor debt trends over time. The current ratio is 1.80x, suggesting adequate working capital coverage. Total debt on the balance sheet is $2.09B.

MSDL has a beta of 0.63, meaning it is less volatile than the S&P 500, making it a relatively defensive holding. The stability factor score for Morgan Stanley Direct Lending Fund is 79/100, indicating low-volatility characteristics and consistent price behavior that appeals to risk-averse investors.

Morgan Stanley Direct Lending Fund Revenue and Earnings History — Quarterly Trend

In TTM 2026, Morgan Stanley Direct Lending Fund reported revenue of $194M and earnings per share (EPS) of $1.40. Net income for the quarter was $147M.

In FY 2025, Morgan Stanley Direct Lending Fund reported revenue of $179M and earnings per share (EPS) of $1.40. Net income for the quarter was $122M.

In Q3 2025, Morgan Stanley Direct Lending Fund reported revenue of $44M and earnings per share (EPS) of $0.32. Net income for the quarter was $28M. Revenue grew -25.5% year-over-year compared to Q3 2024.

In Q2 2025, Morgan Stanley Direct Lending Fund reported revenue of $44M and earnings per share (EPS) of $0.41. Net income for the quarter was $36M. Revenue grew -22.5% year-over-year compared to Q2 2024.

Over the past 8 quarters, Morgan Stanley Direct Lending Fund has demonstrated a growth trajectory, with revenue expanding from $55M to $194M. Investors analyzing MSDL stock should weigh these quarterly trends alongside the valuation and quality metrics discussed above.

MSDL Dividend Yield and Income Analysis

Morgan Stanley Direct Lending Fund (MSDL) does not currently pay a dividend. This is common among smaller companies in the Other industry that prefer to reinvest cash flows into business expansion rather than returning capital to shareholders. Income-focused investors looking for Other dividend stocks may want to explore other Other stocks or use the stock screener to filter by dividend yield.

MSDL Momentum and Technical Analysis Profile

Morgan Stanley Direct Lending Fund (MSDL) has a momentum factor score of 28/100, signaling weak relative price performance. Stocks with low momentum scores have historically tended to continue underperforming in the near term. The investment factor score is 38/100, which measures capital allocation efficiency and asset growth patterns. The short interest score of 66/100 reflects moderate short selling activity.

MSDL vs Competitors — Other Sector Ranking and Peer Comparison

Within the Other sector, Morgan Stanley Direct Lending Fund (MSDL) ranks #20 out of 37 stocks based on the Blank Capital composite score. This places MSDL in the lower half of all Other stocks in our coverage universe. Key competitors and sector peers include Berkshire Hathaway Inc Class A (BRK.A) with a score of 53.5/100, Brown-Forman Corp Class A (BF.A) with a score of 48.2/100, Crawford & Company Class A (CRD.A) with a score of 50.5/100, Moog Inc Class A (MOG.A) with a score of 42.6/100, and TEXTRON INC (TXT) with a score of 51.2/100.

Comparing MSDL against the S&P 500 benchmark is also instructive for understanding relative performance. Investors can view the full MSDL vs S&P 500 (SPY) comparison to assess how Morgan Stanley Direct Lending Fund stacks up against the broader market across all factor dimensions.

MSDL Next Earnings Date

No upcoming earnings date has been announced for Morgan Stanley Direct Lending Fund (MSDL) at this time. Check the earnings calendar for the latest scheduling updates across all stocks in our coverage universe.

Should You Buy MSDL? — Investment Thesis Summary

The quantitative profile for Morgan Stanley Direct Lending Fund suggests caution. The quality score of 25/100 flags below-average profitability. The value score of 35/100 indicates premium valuation. Momentum is weak at 28/100, a headwind for near-term performance. Low volatility (stability score 79/100) reduces downside risk.

In summary, Morgan Stanley Direct Lending Fund (MSDL) earns a Reduce rating with a composite score of 38.0/100 as of April 2026. The rating is derived from the Blank Capital Research methodology, which combines six factor dimensions into a single quantitative ranking. Investors should consider these quantitative signals alongside their own fundamental research, risk tolerance, and investment time horizon before making buy or sell decisions on MSDL stock.

Related Resources for MSDL Investors

Explore more research and tools: MSDL vs S&P 500 comparison, top Other stocks, stock screener, our methodology, quality factor explained, value factor explained, momentum factor explained. Compare MSDL head-to-head with peers: MSDL vs BRK.A, MSDL vs BF.A, MSDL vs CRD.A.