ADYEN
Adyen NV
Is ADYEN Halal?
Payment processing is generally permissible, but safeguarded-money and embedded-finance balances cause the current asset-based screen to fail.
What You Should Know
Adyen's December 31, 2025 Annual Report reports EUR 12,256.849 million of assets, EUR 252.366 million of tracked lease liabilities, EUR 10,797.401 million of cash, EUR 33.993 million of financial assets, EUR 778.690 million of merchant and trade receivables and EUR 2,364.191 million of net revenue. Debt/assets is 2.06%, liquidity/assets is 88.37% and receivables plus cash/assets is 94.45%; disclosed interest income is 1.05% of revenue. The payment platform is generally permissible, while safeguarded funds, card issuing and embedded finance remain qualitative concerns.
⚠️ Concerns
- •Liquidity/assets of 88.37% exceeds the examined limits
- •Receivables-plus-cash/assets of 94.45% exceeds the examined limits
- •Safeguarded merchant funds and financial-institution balances
- •Card issuing and embedded-finance products
- •No universal prohibited-revenue numerator is disclosed
Current quantitative Sharia screen
Based on annual-report figures for the period ended 2025-12-31; calculated 2026-07-15.
252.366 / 12,256.849
10,831.394 / 12,256.849
11,576.091 / 12,256.849
24.744 / 2,364.191
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 88.37% and receivables-plus-cash/assets is 94.45%, above the examined limits; debt/assets is 2.06% and interest income is 1.05% of revenue.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets of 88.37% and receivables-plus-cash/assets of 94.45% exceed the examined MSCI total-assets limits; safeguarded cash treatment remains qualitative.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets of 88.37% exceeds the examined 33% limit; this is a ZakatInvest calculation, not an official SAC classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios are documented.
Business-activity disclosure
Adyen provides payment acquiring, processing, issuing and embedded-finance infrastructure. Payment services are generally permissible, while licensed banking, card facilitation, merchant safeguarding and embedded lending require school-specific review.
Limitation: The filing does not allocate platform economics into a universal prohibited-activity numerator across acquiring, issuing, card-network facilitation and embedded-finance products.
Purification
Adyen discloses EUR 24.744 million of interest income, but no scholar-approved prohibited-income percentage or universal activity numerator is provided.
Inputs, assumptions and primary sources
- Amounts are EUR millions from Adyen's 2025 Annual Report and Consolidated Financial Statements.
- Lease liabilities of EUR 183.269 million non-current and EUR 69.097 million current are used as tracked interest-bearing debt; payables to merchants are operating/safeguarding liabilities rather than issuer borrowings.
- Cash and cash equivalents are EUR 10,797.401 million; other financial assets at amortized cost and fair value total EUR 33.993 million and are used as a conservative securities proxy.
- Receivables from merchants and financial institutions plus trade and other receivables total EUR 778.690 million; net revenue is EUR 2,364.191 million and interest income is EUR 24.744 million.
- Adyen's safeguarded-money, acquiring, issuing and embedded-finance activities require continuing scholar review; the cash ratio is not an official index classification.
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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