Is Morgan Stanley Direct Lending Fund overvalued?

Morgan Stanley Direct Lending Fund (MSDL) looks undervalued — trading about 117% below its fair value.

Undervalued

Price

$15.24

Fair value

$33.05

Current P/E

7.8

Normal P/E

16.9

Market cap

$1.29B

Dividend yield

12.8%

Return on equity

7.0%

Sector

Financial Services

Fair value compares MSDL's current P/E to its own historical "normal" P/E (FAST Graphs-style). Updated 1 Jul 2026.

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