Morgan Stanley Direct Lending Fund (MSDL) - Cash Flow Conversion Efficiency
Based on the latest financial reports, Morgan Stanley Direct Lending Fund (MSDL) has a cash flow conversion efficiency ratio of 0.051x as of March 2026. Cash flow conversion efficiency measures how effectively a company's net assets (equity) generate operating cash flow. It is calculated by dividing operating cash flow ($86.35 Million) by net assets ($1.69 Billion). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations. See how leveraged is Morgan Stanley Direct Lending Fund's balance sheet to measure how much of total assets are equity-financed.
Morgan Stanley Direct Lending Fund - Cash Flow Conversion Efficiency Trend (2020–2025)
This chart illustrates how Morgan Stanley Direct Lending Fund's cash flow conversion efficiency has evolved over time, based on yearly financial data. Check how high is Morgan Stanley Direct Lending Fund's earnings quality to evaluate the quality of earnings relative to operating cash generation.
Morgan Stanley Direct Lending Fund Competitors by Cash Flow Conversion Efficiency
The table below lists competitors of Morgan Stanley Direct Lending Fund ranked by their cash flow conversion efficiency.
| Company | Cash Flow Conversion Efficiency |
|---|---|
|
Triumph Financial, Inc.
NASDAQ:TFIN
|
0.027x |
|
UTI Asset Management Company Limited
NSE:UTIAMC
|
0.005x |
|
Birchcliff Energy Ltd.
TO:BIR
|
0.042x |
|
Shandong Weigao Orthopaedic Device Co. Ltd. A
SHG:688161
|
N/A |
|
Intellia Therapeutics Inc
NASDAQ:NTLA
|
-0.103x |
|
Bitfarms Ltd.
NASDAQ:KEEL
|
-0.131x |
|
Cairn Homes PLC
IR:C5H
|
-0.020x |
|
Alphatec Holdings Inc
NASDAQ:ATEC
|
0.071x |
Annual Cash Flow Conversion Efficiency for Morgan Stanley Direct Lending Fund (2020–2025)
The table below shows the annual cash flow conversion efficiency of Morgan Stanley Direct Lending Fund from 2020 to 2025. For the full company profile with market capitalisation and key ratios, see Morgan Stanley Direct Lending Fund market capitalisation.
| Year | Net Assets | Operating Cash Flow | Cash Flow Conversion Efficiency | Change |
|---|---|---|---|---|
| 2025-12-31 | $1.75 Billion | $150.90 Million | 0.086x | -21.07% |
| 2024-12-31 | $1.84 Billion | $201.47 Million | 0.109x | +1.32% |
| 2023-12-31 | $1.72 Billion | $185.78 Million | 0.108x | +24.04% |
| 2022-12-31 | $1.40 Billion | $121.59 Million | 0.087x | +52.80% |
| 2021-12-31 | $1.19 Billion | $67.69 Million | 0.057x | +38.17% |
| 2020-12-31 | $301.62 Million | $12.43 Million | 0.041x | -- |
About Morgan Stanley Direct Lending Fund
Morgan Stanley Direct Lending Fund is a business development company. The fund chiefly invests in riskier bonds, issued by middle-market companies or by private equity firms looking to finance their acquisitions.