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 0.019x as of September 2025. 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 ($34.41 Million) by net assets ($1.77 Billion). A higher ratio indicates that the company is more efficient at using its equity to generate cash flow from its core operations.
Morgan Stanley Direct Lending Fund - Cash Flow Conversion Efficiency Trend (2020–2024)
This chart illustrates how Morgan Stanley Direct Lending Fund's cash flow conversion efficiency has evolved over time, based on yearly financial data. Read debt load of Morgan Stanley Direct Lending Fund for a breakdown of total debt and financial obligations.
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 |
|---|---|
|
Dar Global Plc
LSE:DAR
|
0.112x |
|
Kailuan Energy Chemical Co Ltd
SHG:600997
|
0.020x |
|
Upwork Inc
NASDAQ:UPWK
|
0.101x |
|
Shenzhen Fenda Technology Co Ltd
SHE:002681
|
0.026x |
|
Enovix Corp
NASDAQ:ENVX
|
-0.086x |
|
Miracle Automation Engineering
SHE:002009
|
0.008x |
|
CJ Korea Express
KO:000120
|
0.076x |
|
Indiamart Intermesh Limited
NSE:INDIAMART
|
0.061x |
Annual Cash Flow Conversion Efficiency for Morgan Stanley Direct Lending Fund (2020–2024)
The table below shows the annual cash flow conversion efficiency of Morgan Stanley Direct Lending Fund from 2020 to 2024. For the full company profile with market capitalisation and key ratios, see Morgan Stanley Direct Lending Fund (MSDL) total market value.
| Year | Net Assets | Operating Cash Flow | Cash Flow Conversion Efficiency | Change |
|---|---|---|---|---|
| 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.