MS Direct Lending Fund (MSDL)
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Fiscal Year End Date: 12/31
(Values in U.S. thousands)
| 12-2025 | 12-2024 | 12-2023 | 12-2022 | 12-2021 | |
| Sales | 397,287 | 416,075 | 367,738 | 230,593 | 119,816 |
| Total expenses | 219,463 | 209,374 | 191,071 | 122,241 | 57,104 |
| Operating Income | 177,824 | 206,701 | 176,667 | 108,352 | 62,712 |
| Interest Income | 371,961 | 396,421 | 355,530 | 223,119 | 108,277 |
| Interest Expense | 136,132 | 122,928 | 112,883 | 67,182 | 21,015 |
| Other Income | 137,148 | 138,899 | 135,796 | 87,174 | 31,312 |
| Pre-tax Income | 178,840 | 222,672 | 199,580 | 128,344 | 73,009 |
| Income Tax | 2,814 | 2,437 | 1,519 | 334 | 80 |
| Net Income Continuous | 122,094 | 215,564 | 231,014 | 48,542 | 83,255 |
| Net Income | $122,094 | $215,564 | $231,014 | $48,542 | $83,255 |
| EPS Basic Continuous Ops | 1.40 | 2.43 | 3.11 | 0.79 | 2.67 |
| EPS Basic Total Ops | 1.40 | 2.43 | 3.11 | 0.79 | 2.67 |
| EPS Diluted Continuous Ops | 1.40 | 2.43 | 3.11 | 0.79 | 2.67 |
| EPS Diluted Total Ops | 1.40 | 2.43 | 3.11 | 0.79 | 2.67 |
| EPS Diluted Before Non-Recurring Items | 2.02 | 2.48 | 2.67 | N/A | N/A |
| EBITDA(a) | $369,670 | $325,422 | $262,512 | $260,825 | $78,233 |