Financial Snapshot

Revenue
$271.7M
TTM
Gross Margin
85.07%
TTM
Net Earnings
$221.3M
TTM
Current Assets
$135.5M
Q3 2024
Current Liabilities
$98.08M
Q3 2024
Current Ratio
138.2%
Q3 2024
Total Assets
Q3 2024
Total Liabilities
Q3 2024
Book Value
$1.854B
Q3 2024
Cash
Q3 2024
P/E
8.250
Nov 29, 2024 EST
Free Cash Flow

Revenues

Revenues

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Revenue YoY Change

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Revenues

Concept 2023 2022 2021
Revenue $199.6M $128.3M $73.01M
YoY Change 55.5% 75.79%

Expenses

Cost Of Revenues

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Gross Profit

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Gross Profit Margin

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Gross Profit

Concept 2023 2022 2021
Revenue $199.6M $128.3M $73.01M
Cost Of Revenue $185.4M $118.1M $52.54M
Gross Profit $182.3M $112.5M $67.28M
Gross Profit Margin 91.34% 87.66% 92.15%

Selling, General & Admin Expense

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Research & Development

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Depreciation, Depletion & Amortization

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SGA Expense to Gross Profit Ratio

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R&D To Gross Profit Ratio

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DDA To Gross Profit Ratio

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Operating Expenses Total

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Operating Profits/Loss

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Operational Expenses

Concept 2023 2022 2021
Selling, General & Admin $5.626M $4.150M $4.568M
YoY Change 35.57% -9.15%
% of Gross Profit 3.09% 3.69% 6.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization
YoY Change
% of Gross Profit
Operating Expenses -$17.29M -$15.84M -$5.729M
YoY Change 9.12% 176.52%
Operating Profit $199.6M $128.3M $73.01M
YoY Change 55.5% 75.79%

Interest Expenses

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Interest Expenses To Operating Income %

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Other Expense/Income

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Interest & Other Expense/Income

Concept 2023 2022 2021
Interest Expense $112.9M $67.18M $21.02M
YoY Change 68.03% 219.69%
% of Operating Profit 56.56% 52.35% 28.78%
Other Income/Expense, Net
YoY Change

Income/Loss

Pretax Income

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Income Tax

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Net Profits/Loss

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Pretax Income YoY Change

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Income Tax Rate

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Net Profits/Loss YoY Change

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Basic EPS

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Net Income To Revenue Ratio

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Pretax & Net Income

Concept 2023 2022 2021
Pretax Income $232.5M $48.88M $83.34M
YoY Change 375.76% -41.35%
Income Tax $1.519M $334.0K $80.00K
% Of Pretax Income 0.65% 0.68% 0.1%
Net Earnings $231.0M $48.54M $83.26M
YoY Change 375.91% -41.69%
Net Earnings / Revenue 115.75% 37.82% 114.03%
Basic Earnings Per Share $3.11 $0.79 $2.67
Diluted Earnings Per Share $3.11 $0.79 $2.67

Assets & Liabilities

Cash & Short-Term Investments

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Cash & Equivalents

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Cash To Operating Expenses Ratio

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Inventory

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Receivables

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Total Short-Term Assets

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Property, Plant And Equipment

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Long-Term Investments

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Total Long-Term Assets

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Total Assets

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Net Income To Total Assets Percentage

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Accounts Payable

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Short-Term Debt

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Long Term Debt Due

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Total Short-Term Liabilities

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Long-Term Debt

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Other Long-Term Liabilities

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Total Long-Term Liabilities

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Total Liabilities

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Short-Term To Long-Term Debt Ratio

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Short-Term Assets To Debt Ratio

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Long-Term Debt To Net Income Ratio

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Assets & Liabilities

Concept 2023 2022 2021
Cash & Short-Term Investments $69.71M $81.22M $74.15M
YoY Change -14.17% 9.52%
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets $53.00K $40.00K $268.0K
YoY Change 32.5% -85.07%
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $98.86M $104.9M $94.31M
YoY Change -5.77% 11.24%
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $3.194B $2.874B $2.387B
YoY Change 11.13% 20.37%
Other Assets $14.32M $7.624M $11.59M
YoY Change 87.79% -34.2%
Total Long-Term Assets $3.208B $2.881B $2.399B
YoY Change 11.34% 20.1%
Total Assets $3.307B $2.986B $2.493B
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $22.93M $20.30M $6.515M
YoY Change 12.96% 211.54%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $89.55M $65.34M $54.84M
YoY Change 37.05% 19.16%
Long-Term Debt $1.496B $1.523B $1.250B
YoY Change -1.8% 21.89%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $1.496B $1.523B $1.250B
YoY Change -1.8% 21.89%
Total Liabilities $1.586B $1.589B $1.305B
YoY Change -0.2% 21.78%

Ownership

Basic Shares Outstanding

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Diluted Shares Outstanding

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Preferred Stock

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Treasury Stock Shares

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Stock Issuance & Repurchase

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Ownership Data

Concept 2023 2022 2021
Basic Shares Outstanding 74.24M shares 61.68M shares 31.16M shares
Diluted Shares Outstanding 74.24M shares 61.68M shares 31.16M shares
Preferred Stock
Treasury Stock Shares

Return On Shareholders' Equity

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Book Value

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Free Cash Flow

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Free Cash Flow YoY

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Free Cash Flow Margin

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Dividends

Dividends

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Stock Price

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Market Cap: $1.826 Billion

About Morgan Stanley Direct Lending Fund

Morgan Stanley Direct Lending Fund is a business development and finance company, which engages in lending to middle-market companies. The company is headquartered in New York City, New York and currently employs 0 full-time employees. The company went IPO on 2024-01-24. The firm is a non-diversified, externally managed specialty finance company focused on lending to middle-market companies. The Company’s investment objective is to achieve attractive risk-adjusted returns via current income and, to a lesser extent, capital appreciation by investing primarily in directly originated senior secured term loans issued by United States middle-market companies backed by private equity sponsors. The firm invests primarily in directly originated senior secured term loans including first lien senior secured term loans and second lien senior secured term loans. The Company’s wholly owned subsidiaries include DLF CA SPV LLC (CA SPV), DLF SPV LLC (DLF SPV), DLF Financing SPV LLC (Financing SPV) and DLF Equity Holdings LLC. The Company’s investment adviser is MS Capital Partners Adviser Inc.

Industry: UNKNOWN Peers: