What is MSDL's Value Score?

Morgan Stanley Direct Lending Fund (MSDL) has a StockPik Value Score of 75 out of 100 — a high score, indicating strong value characteristics across multiple metrics. The Value Score is a composite ranking built from P/E ratio, P/B ratio, Graham Number, ROE, gross margin, debt-to-equity, current ratio, and Piotroski F-Score, calculated from SEC EDGAR annual filing data.

What is MSDL's Piotroski F-Score?

Morgan Stanley Direct Lending Fund (MSDL) has a Piotroski F-Score of 4 out of 9 — a moderate score. The F-Score assesses nine binary financial criteria across profitability, leverage, and operating efficiency. A score of 7–9 indicates a financially improving company; a score of 0–3 is a warning sign.

Is MSDL trading below its Graham Number?

MSDL is currently trading below its Graham Number. The stock price of $14.61 is 47.9% below the Graham Number of $28.04, representing a margin of safety by Benjamin Graham's definition. The Graham Number is calculated as √(22.5 × EPS × Book Value Per Share) and represents Benjamin Graham's ceiling price for a defensive investor.

What is MSDL's Graham Number?

MSDL's Graham Number is $28.04, calculated using the Benjamin Graham formula √(22.5 × EPS × Book Value per Share). The Graham Number is an estimate of intrinsic value — the maximum price a defensive investor should pay. At the current price of $14.61, MSDL is trading 48% below its Graham Number.

What is MSDL's Piotroski F-Score?

MSDL's Piotroski F-Score is 4 out of 9, indicating moderate financial health. The Piotroski F-Score evaluates nine criteria across profitability, leverage, and operating efficiency. Scores of 7 or above are considered strong; 3 or below indicate financial weakness.

Is MSDL (Morgan Stanley Direct Lending Fund) undervalued?

MSDL scores 75/100 on StockPik's Value Score, placing it in undervalued territory. The stock trades 48% below its Graham Number of $28.04.

What is MSDL's P/E ratio?

MSDL's trailing P/E ratio is 8.5x — a low earnings multiple, suggesting the stock may be undervalued relative to its earnings.

Does Morgan Stanley Direct Lending Fund (MSDL) pay a dividend?

Yes, MSDL currently pays a dividend yield of 15.3%. View the full dividend and value analysis on StockPik.

Back to Screener

Morgan Stanley Direct Lending Fund (MSDL)

NYSE Small Cap

$14.61

Market Cap: $1.3B

Data as of Sep 30, 2025 (TTM)

Price History

Feb 9, 2026 — Apr 4, 2026

Investment Snapshot

Trading 48% below Graham Number ($28.04) — significant margin of safety
Piotroski F-Score 4/9 — moderate financial health
ROE of 8.4% — below-average profitability
High dividend yield of 15.3%

Morgan Stanley Direct Lending Fund (MSDL) is a publicly traded company, listed on the NYSE , with a market capitalisation of $1.3 billion . Key value metrics: P/E ratio 8.5, P/B ratio 0.72, Piotroski F-Score 4 out of 9 (moderate financial health) .

Value Score

out of 100

Try PRO Free — See Full Breakdown

Key Metrics

P/E Ratio

8.54

P/B Ratio

0.72

EPS

$1.71

Div. Yield

15.3%

PEG Ratio

—

P/S Ratio

—

EV/EBITDA

—

ROE

—

ROA

—

Gross Margin

—

Op. Margin

—

Net Margin

—

Debt/Equity

—

Current Ratio

—

Unlock 19 More Metrics — 7 Days Free

Current vs 5-Year Average

Based on 4 years of SEC filings

Net Margin

—

↑ +2.1pp avg —

Gross Margin

—

↑ +2.1pp avg —

Operating Margin

—

↑ +2.1pp avg —

Return on Equity

—

↑ +2.1pp avg —

Debt / Equity

—

↑ +2.1pp avg —

See How Margins & ROE Have Trended — Try PRO

Revenue & Net Income

Profit Margins

Track Gross, Operating & Net Margins — Try PRO

EPS & Free Cash Flow Per Share

See EPS & Free Cash Flow Trends — Try PRO

Financial Statements

Metric	FY22	FY23	FY24
Revenue	$X.XB	$X.XB	$X.XB
Gross Profit	$X.XB	$X.XB	$X.XB
Operating Income	$X.XB	$X.XB	$X.XB
Net Income	$X.XB	$X.XB	$X.XB
EBITDA	$X.XB	$X.XB	$X.XB
Total Assets	$X.XB	$X.XB	$X.XB
Total Liabilities	$X.XB	$X.XB	$X.XB

Unlock 5 Years of Financials — Start Free Trial

Data sourced from SEC EDGAR and Polygon.io. Methodology.

Morgan Stanley Direct Lending Fund — Fundamental Analysis Summary

Morgan Stanley Direct Lending Fund (MSDL) is trading 48% below its Graham Number of $28.04 — a significant margin of safety by Benjamin Graham's standard. The stock carries a low trailing P/E ratio of 8.5x.

On financial health, MSDL shows a moderate Piotroski F-Score of 4/9, and modest return on equity of 8.4%, and elevated leverage with a debt-to-equity ratio of 1.19.

StockPik's composite Value Score for MSDL is 75/100 — placing it in undervalued territory. The score is built from ten fundamental signals: P/E, P/B, PEG ratio, P/S ratio, return on equity, gross margin, debt-to-equity, current ratio, dividend yield, and Piotroski F-Score.

MSDL shows earnings declining at 43%.

MSDL pays a high dividend yield of 15.3%.

Stocks below Graham Number

Browse other stocks trading below intrinsic value, ranked by margin of safety

Stocks below book value

Other stocks trading at a discount to net assets (P/B < 1)

High-yield dividend stocks

Other stocks paying a dividend yield of 3% or more

How is the Value Score calculated?

Read our full methodology →

What is the margin of safety?

How to calculate the margin of safety using the Graham Number, and what counts as a good margin of safety →

MSCI — MSCI Inc.

Middlesex Water Company - Common Stock — MSEX