What one share of Morgan Stanley Direct Lending Fund holds
We are a non-diversified, externally managed specialty finance company focused on lending to middle-market companies. We have elected to be regulated as a BDC under the Investment Company Act of 1940, as amended (the “1940 Act”).
Morgan Stanley Direct Lending Fund’s numbers from its SEC filings, divided by its shares. Results cover the last 12 months to 2026-06-30; the balance sheet is as of 2026-06-30.
| Profit | $0.69 |
|---|---|
| Dividends | $1.96 |
| Cash and investments | $0.78 |
| Debt | $23.45 |
| Book value | $19.50 |
Per share by fiscal year
| Year | Sales | Profit | Capex | Free cash | Dividends | Book value |
|---|---|---|---|---|---|---|
| 2021 | — | $2.67 | — | — | — | $20.91 |
| 2022 | — | $0.79 | — | — | $1.92 | $19.81 |
| 2023 | — | $3.11 | — | — | $2.27 | $20.67 |
| 2024 | — | $2.43 | — | — | — | $20.81 |
| 2025 | — | $1.40 | — | — | — | $20.26 |
Common questions about Morgan Stanley Direct Lending Fund
How much does one share of Morgan Stanley Direct Lending Fund earn?
Over the last 12 months, each share of Morgan Stanley Direct Lending Fund earned $0.69 of profit.
Does Morgan Stanley Direct Lending Fund pay a dividend?
Yes. Morgan Stanley Direct Lending Fund paid $1.96 per share in dividends over the last 12 months. That’s about 282¢ of each $1 of profit (payout ratio).
What is Morgan Stanley Direct Lending Fund’s book value per share?
Morgan Stanley Direct Lending Fund’s book value is $19.50 per share: what would be left for each share if it sold everything at the values on its books and paid every debt, as of June 30, 2026.
How much cash and debt does each share of Morgan Stanley Direct Lending Fund have?
Each share of Morgan Stanley Direct Lending Fund has $0.78 of cash and investments and $23.45 of debt, as of June 30, 2026.
How has Morgan Stanley Direct Lending Fund’s profit per share changed over time?
Profit per share went from $2.67 in 2021 to $1.40 in 2025, shrinking about 14.9% a year (adjusted for stock splits).
Has Morgan Stanley Direct Lending Fund bought back shares?
Morgan Stanley Direct Lending Fund’s share count rose about 180% from 2021 to 2025. That dilution means each share owns a smaller slice of the company.
From its SEC filings. For education only, not investment advice. New to these words? See the StockSlicer glossary.