Morgan Stanley Direct Lending Fund Ratios | P/E, ROE & Valuation

On the Key Ratios page for Morgan Stanley Direct Lending Fund (MSDL), the latest P/E of 22.2 frames valuation, while ROE 3.48% and ROIC 4.45% indicates profitability and capital efficiency. Together with the current ratio of 1.65 and debt-to-equity 1.20, these signals help you judge whether valuation is supported by fundamentals across the historical rows.

Financial Performance Ratios

MSDL Historical Per Share Metrics

7 years
Metric (FY)TTM202420232022202120202019
Revenue per Share$3.65$2.83$4.15$2.61$1.12$0.27$0.00
Net Income per Share$0.70$2.41$2.62$0.55$0.94$0.21$-0.37
Operating Cash Flow per Share$3.34$-4.18$2.10$1.38$0.77$0.14$0.00
Free Cash Flow per Share$3.34$-4.18$2.10$1.38$0.77$0.14$0.00
Cash per Share$0.95$0.81$0.79$0.92$0.84$0.13$0.01
Book Value per Share$19.44$20.64$19.50$15.83$13.46$3.42$-0.36
Tangible Book Value per Share$19.44$20.64$19.50$15.83$13.46$3.42$-0.36
Interest Debt per Share$24.92$23.49$18.23$18.02$14.40$3.82$0.00
CAPEX per Share$0.00$0.00$0.00$0.00$0.00$0.00$0.00

MSDL Historical Valuation Ratios

7 years
Metric (FY)TTM202420232022202120202019
Price to Earnings (P/E)22.218.567.8937.5421.8999.58-55.21
Price to Book (P/B)0.7911.061.31.536.04-56.93
Price to Sales (P/S)4.187.294.977.8918.4875.740
Enterprise Value to EBITDA20.4511.069.451528.7597.39-55.09
EV to Sales10.3814.88.8714.1430.489.150
EV to Operating Cash Flow11.35-10.0317.4926.8544.29172.510
EV to Free Cash Flow11.35-10.0317.4926.8544.29172.510
Enterprise Value$3.21B$3.75B$3.25B$3.26B$3.00B$2.14B$63.78M

MSDL Historical Profitability Ratios

7 years
Metric (FY)TTM202420232022202120202019
Return on Equity (ROE)3.48%11.70%13.42%3.47%7.00%6.07%103.12%
Return on Invested Capital (ROIC)4.45%8.72%3.48%1.29%1.36%0.96%0.00%
Return on Tangible Assets1.61%5.51%6.99%1.63%3.34%2.79%-78.94%
Earnings Yield4.62%11.69%12.68%2.66%4.57%1.00%-1.81%
Free Cash Flow Yield21.86%-20.25%10.20%6.67%3.71%0.68%0.00%
Dividend Yield12.44%9.17%6.06%4.71%2.10%0.21%0.00%

MSDL Historical Liquidity & Financial Strength

7 years
Metric (FY)TTM202420232022202120202019
Current Ratio1.651.3639.8661.72100.58
Interest Coverage1.272.753.051.723.975.910
Income Quality4.74-1.730.82.50.810.680
Debt to Equity1.21.070.871.091.051.110
Debt to Assets53.41%50.45%45.24%51.02%50.13%50.83%0.00%
Net Debt to EBITDA12.215.614.156.6311.2814.650.03

MSDL Historical Efficiency Ratios

7 years
Metric (FY)TTM202420232022202120202019
Receivables Turnover5.748.1612.599.764.9610.20
Payables Turnover000.720.620.640.430
Inventory Turnover0000000
Days Sales Outstanding63.6344.7528.9937.4173.6235.790
Days Payables Outstanding00503.98592.04569.67852.520
Days of Inventory on Hand0000000

MSDL Historical Market Metrics

7 years
Metric (FY)TTM202420232022202120202019
Enterprise Value to EBITDA20.4511.069.451528.7597.39-55.09
Market Cap$1.29B$1.84B$1.82B$1.82B$1.82B$1.82B$63.81M
Enterprise Value$3.21B$3.75B$3.25B$3.26B$3.00B$2.14B$63.78M
Dividend Yield12.44%9.17%6.06%4.71%2.10%0.21%0.00%
Payout Ratio281.92%78.44%47.83%176.65%45.90%20.43%0.00%

Frequently Asked Questions

How does Morgan Stanley Direct Lending Fund’s P/E ratio compare with its history?

On this page, MSDL's current P/E is 22.2, compared with a multi-year average around 32.9. A lower P/E versus its own history is a calculated gap versus that average—not a conclusion that the stock is cheap. Pair it with profitability and earnings quality in the table (for example ROE/ROIC) to see whether the multiple moved with earnings.

What is Morgan Stanley Direct Lending Fund market cap?

Market cap is the market value of a company's equity and is commonly calculated as share price multiplied by shares outstanding. The latest market cap shown in the table is $1.29B. Pair market cap with valuation multiples (P/E, P/B, P/S) so you can evaluate whether size also corresponds with "quality" and profitability. For a wider view across stocks, you can also use the stock screener.

How does Morgan Stanley Direct Lending Fund’s P/E compare with its industry?

There is no P/E Tickerplace rates as good. Compare the P/E on this page with Morgan Stanley Direct Lending Fund's own historical range (in the table) and with peers via the Screener and Compare tools. A higher or lower multiple versus peers is a calculated gap, not a recommendation.

How does Morgan Stanley Direct Lending Fund compare to its competitors in key financial ratios?

The fastest way to compare Morgan Stanley Direct Lending Fund with competitors is to use the built-in "Peers Comparison" section on this page and the Compare tool. Focus on a small set of ratios that work together: P/E for valuation, ROE/ROIC for profitability and capital efficiency, current ratio and interest coverage for liquidity and solvency, and debt-to-equity for leverage risk. When you see Morgan Stanley Direct Lending Fund outperform peers on profitability while keeping valuation and leverage reasonable, it often signals stronger fundamentals.

What do Morgan Stanley Direct Lending Fund's liquidity and leverage ratios show?

Liquidity and leverage figures on this page are published ratios, not a verdict that Morgan Stanley Direct Lending Fund is financially strong. Current ratio is about 1.65, which is above 1.0 and can indicate more comfortable short-term liquidity. Interest coverage is about 1.27, implying less buffer for servicing interest costs. Debt-to-equity is about 1.20, suggesting leverage is more moderate relative to a high-debt profile. Pair them with ROE/ROIC and cash-flow rows in the table. Tickerplace does not rate the company as a good or poor investment.

What do Morgan Stanley Direct Lending Fund's financial ratios say about its future growth?

Ratios are a way to see what the business is likely to sustain. Look for upward trends in profitability metrics (ROE and ROIC), improving earnings/cash-flow backed measures, and stable or strengthening liquidity. If Morgan Stanley Direct Lending Fund is sustaining strong returns (for example ROE at 3.48% and ROIC at 4.45%) while debt levels and interest coverage remain manageable, growth expectations may be more credible. If valuation multiples expand while returns weaken, the market may be pricing optimistic growth ahead of results.