AKAM
Akamai Technologies, Inc.
Is AKAM Halal?
Akamai's infrastructure business is broadly permissible, but March 2026 debt/assets of 35.27% fails the examined asset-based financial screens and customer/end-use revenue is not separately classified.
What You Should Know
Akamai Technologies' March 31, 2026 Form 10-Q reports $11,645.752M total assets, $4,107.607M carrying debt in convertible senior notes, $622.383M cash, $1,079.796M of identified interest-bearing securities, $881.076M accounts receivable and $1,073.610M quarterly revenue. ZakatInvest calculates debt/assets 35.27%, cash plus identified interest-bearing securities/assets 14.62%, receivables plus cash/assets 12.91% and interest plus marketable-securities income, net/revenue 1.63% as a conservative upper bound. Akamai's security, delivery and cloud infrastructure activities are broadly permissible, but the filing does not allocate customer content, government contracts or downstream use into a universal prohibited-revenue numerator.
⚠️ Concerns
- •Convertible-note debt is 35.27% of total assets, above the examined asset-based financial limits
- •Interest and marketable-securities income, net is 1.63% of quarterly revenue but is not a pure-interest-only figure
- •Streaming, gaming, media and government customers create qualitative end-use questions that the filing does not quantify
- •Large corporate-bond, time-deposit and commercial-paper holdings require methodology-specific review
- •Cloud expansion, AI, security incidents, acquisitions and traffic mix can change the next screen
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
4,107.607 / 11,645.752
1,702.179 / 11,645.752
1,503.459 / 11,645.752
17.547 / 1,073.61
- Financial
- Fails
- Overall
- Fails
Debt/assets are 35.27%, above the examined 33.333% limit. Cash plus identifiable interest-bearing securities are 14.62%, receivables plus cash are 12.91% and the conservative combined investment-income proxy is 1.63%. The debt ratio drives the financial failure.
- Financial
- Fails
- Overall
- Fails
Debt/assets are 35.27%, above the examined MSCI total-assets limit; liquidity is 14.62% and receivables plus cash are 12.91%. The combined income line is not a pure-interest measure, and this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets are 35.27%, above the examined Malaysia SAC financial limit. Identifiable liquidity is 14.62%; this is a contextual calculation against SAC ratios, not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so no unsupported market-cap percentage is substituted for the filing-backed asset-based calculation.
Business-activity disclosure
Akamai provides internet infrastructure through security, delivery and other cloud applications, and cloud infrastructure services. Web security, content delivery, edge computing and general-purpose cloud infrastructure are broadly permissible technology activities, but the filing does not allocate revenue by customer content, downstream use, government contract or a school-specific prohibited taxonomy.
Limitation: Akamai reports solution categories and broad customer markets rather than a reproducible prohibited-revenue numerator. Mixed-content streaming, gaming, media, government and enterprise customers cannot be converted into an exact Sharia percentage from the filing alone.
Purification
Interest and marketable-securities income, net is 1.63% of quarterly revenue, but it is not a pure-interest-only numerator and the screened operating-revenue allocation remains incomplete. No fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Inputs use Akamai Technologies' March 31, 2026 Form 10-Q; amounts are USD millions.
- Debt uses the $4,107.607 million carrying amount of convertible senior notes. The filing also discloses $4,140 million aggregate principal; the carrying amount is used consistently for the balance-sheet ratio, and operating lease liabilities are excluded.
- Cash uses $622.383 million of cash and cash equivalents. Identifiable interest-bearing securities use $1,079.796 million of available-for-sale time deposits, commercial paper and corporate bonds; equity-classified money-market and mutual funds are not silently added.
- Receivables use $881.076 million of accounts receivable, net. Prepaid expenses and other current assets are excluded.
- Total quarterly revenue was $1,073.610 million. Interest and marketable-securities income, net was $17.547 million, or 1.63% of revenue; this is a conservative upper bound because the filing combines interest and marketable-securities income rather than isolating pure interest income.
- The filing reports security, delivery and other cloud applications, and cloud infrastructure services, but does not allocate revenue by customer content, downstream use, government contract or other school-specific prohibited category.
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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