Morgan Stanley Direct Lending Fund (MSDL) — Cash Flow Quality Index
Morgan Stanley Direct Lending Fund (MSDL) has a Cash Flow Quality Index of 1.87x as of December 2025. Operating cash flow of $53.75 Million exceeds net income of $28.73 Million, indicating high earnings quality where cash backs reported profits. Explore MSDL long-term investments to assets to see how much of total assets are deployed in long-term investments.
Cash Flow Quality Index
Operating Cash Flow
Net Income
Data as of
Morgan Stanley Direct Lending Fund Cash Flow Quality Index (2020–2025)
Historical Cash Flow Quality Index for Morgan Stanley Direct Lending Fund across 6 annual periods. Values consistently above 1.0x indicate high-quality earnings. Check Morgan Stanley Direct Lending Fund tangible book value ratio to evaluate the tangible quality of the company's equity base.
Annual Cash Flow Quality Index for Morgan Stanley Direct Lending Fund (2020–2025)
Year-by-year earnings quality comparison for Morgan Stanley Direct Lending Fund. For live market cap and the full company financial profile, see MSDL stock market capitalisation.
| Year | Quality Index | Operating CF (USD) | Net Income | YoY Change |
|---|---|---|---|---|
| 2025 | 1.24x | $150.90 Million | $122.09 Million | ▲ +32.2% |
| 2024 | 0.93x | $201.47 Million | $215.56 Million | ▲ +16.2% |
| 2023 | 0.80x | $185.78 Million | $231.01 Million | ▼ -67.9% |
| 2022 | 2.50x | $121.59 Million | $48.54 Million | ▲ +208.1% |
| 2021 | 0.81x | $67.69 Million | $83.25 Million | ▲ +19.7% |
| 2020 | 0.68x | $12.43 Million | $18.30 Million | — |