Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Net income | $83.3M | $48.5M | $231M | $216M | $122M |
| EPS (diluted) | $2.67 | $0.79 | $3.11 | $2.43 | $1.40 |
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Operating cash flow | -$1.66B | -$430M | -$83.8M | -$383M | $151M |
| Share buybacks | — | $0.00 | $0.00 | $18.1M | $42.0M |
| Dividends paid | $38.2M | $85.7M | $110M | $169M | $184M |
| Fiscal year | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $74.2M | $81.2M | $69.7M | $63.4M | $81.4M |
| Total assets | — | $2.99B | $3.31B | $3.91B | $3.92B |
| Total liabilities | — | $1.59B | $1.59B | $2.07B | $2.17B |
| Long-term debt | — | $1.52B | $1.50B | $1.97B | $2.09B |
| Shareholders' equity | $1.19B | $1.40B | $1.72B | $1.84B | $1.75B |
| Retained earnings | — | -$54.8M | $8.46M | $29.6M | -$19.6M |
| Shares (wtd avg diluted) | 31.2M | 61.7M | 74.2M | 88.6M | 87.3M |
Every figure is extracted from Morgan Stanley Direct Lending Fund’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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