Morgan Stanley Direct Lending FundMSDL.NValuation Analysis
Based on the blended 10-year P/E and P/B percentiles, the stock currently sits in the “Fair Value Range” zone.
As of Oct 16, 2026, Morgan Stanley Direct Lending Fund (MSDL.N) trades at a P/E of 18.30x, P/B of 0.67x, P/S of 2.93x, and a dividend yield of 10.36%.
Longitudinal percentile comparison: P/E sits at the 90th percentile over the trailing 10Y window (vs. 90th percentile over 3Y); P/B sits at the 1st percentile over the trailing 10Y window (vs. 1st percentile over 3Y); P/S sits at the 1st percentile over the trailing 10Y window (vs. 1st percentile over 3Y).
Cross-sectional valuation: its P/E ranks at the 70th percentile within its industry and the 48th percentile across the broader market.
Shareholder return highlight: Total Shareholder Yield is 14.19%, ranking at the 100th percentile over the trailing 20Y window.
The P/E and P/B percentiles diverge here, differing by 88.8 points — relying on either metric alone could be misleading. Relative to the broader market, its P/E shows a deeper discount than it does against industry peers. Breaking down the total shareholder yield: 10.36% comes from cash dividends, with an implied ~3.83% from buybacks — a fairly balanced mix of both channels. Morgan Stanley Direct Lending Fund operates in the other sector. Data refreshes weekly and is for reference only, not investment advice.
Also listed as: NYSE: MSDL · MSDL
Want the full picture on whether Morgan Stanley Direct Lending Fund (MSDL.N) is under- or over-valued? See the full 3Y / 5Y / 10Y / 20Y P/E, P/B, P/S, Dividend Yield & Total Shareholder Yield percentile matrix and the interactive ECharts trend chart on this page.
Historical Percentiles by Metric
| Metric | Current | Market Percentile | Industry Percentile | 3Y Pctl | 5Y Pctl | 10Y Pctl | 20Y Pctl |
|---|---|---|---|---|---|---|---|
| P/E (TTM) | 18.30 | ||||||
| P/B (MRQ) | 0.67 | ||||||
| P/S (TTM) | 2.93 | ||||||
| Dividend Yield | 10.36% | ||||||
| Buyback + Div Yield | 14.19% |