ACM
AECOM
Is ACM Halal?
Permissible infrastructure engineering and consulting business with passing known asset ratios, but current filing-based activity and income data remain incomplete.
What You Should Know
AECOM provides infrastructure planning, design, engineering, program management and construction management. Its March 31, 2026 Form 10-Q reports assets of $12,007.347 million, interest-bearing debt of $2,717.244 million, cash of $1,034.257 million and net accounts receivable of $2,464.696 million. Debt/assets is 22.63%, liquidity/assets is 8.61% and receivables-plus-cash/assets is 29.14%; gross interest income treatment and a reproducible prohibited-revenue numerator are not fully available. The known ratios pass the examined MSCI and Malaysia proxies, but activity remains incomplete and no official third-party classification is implied.
⚠️ Concerns
- •Known debt, liquidity and receivables-plus-cash ratios pass the examined asset limits
- •Large billed and unbilled project balances require conservative review
- •Government and defense-adjacent programs have mixed end uses
- •Cash is held partly in consolidated joint ventures
- •Re-screen after the next filing or a material project or acquisition change
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
2,717.244 / 12,007.347
1,034.257 / 12,007.347
3,498.953 / 12,007.347
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 22.63%, liquidity is 8.61% and receivables plus cash is 29.14%, below examined FTSE limits, but income treatment and activity remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 22.63%, liquidity is 8.61% and receivables plus cash is 29.14%, below examined MSCI total-assets limits; activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 22.63% and liquidity is 8.61%, below the examined 33% limits; activity remains incomplete and this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored and activity classification remains incomplete.
Business-activity disclosure
AECOM provides infrastructure planning, design, engineering, program management and construction management. Professional engineering services are generally permissible, while government and project end uses require review.
Limitation: The filing does not provide a reproducible prohibited-revenue numerator for defense-adjacent or other end uses, and a universal gross-interest-income treatment is not inferred.
Purification
No scholar-approved purification percentage is inferred from the filing's interest-income disclosure.
Inputs, assumptions and primary sources
- Amounts are USD millions converted from AECOM's thousands-of-dollars presentation for March 31, 2026.
- Debt combines $2.248 million short-term debt, $60.714 million current long-term debt and $2,654.282 million long-term debt; operating leases are excluded.
- Cash includes $802.442 million corporate cash and $231.815 million cash in consolidated joint ventures.
- Net accounts receivable is $2,464.696 million; contract assets of $2,164.244 million are disclosed separately and are not included in this input.
- Six-month revenue is $7,631.977 million; gross interest income is disclosed but no prohibited-revenue numerator is provided.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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