ALLE
Allegion plc
Is ALLE Halal?
Security products — door hardware and access control manufacturing is permissible.
What You Should Know
Allegion makes security products including door hardware, electronic locks, access control systems, and exit devices. Its March 31, 2026 Form 10-Q reports $5,312.1 million of assets, $2,040.9 million of gross interest-bearing borrowings, $308.9 million of cash, $512.3 million of receivables and $1,033.6 million of quarterly net revenue. Debt/assets is 38.42%, above the examined FTSE, MSCI and Malaysia asset-based limits; liquidity/assets is 5.82%, receivables-plus-cash/assets is 15.46% and disclosed interest income is 0.13% of revenue. The core security-products business remains generally permissible, but the quantitative screens fail on debt.
⚠️ Concerns
- •Debt/assets exceeds the examined FTSE, MSCI and Malaysia limits
- •Minor interest income
- •Electronic access-control and data-security end uses
- •Some government/defense facility customers (indirect, sells locks not weapons)
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
2,040.9 / 5,312.1
308.9 / 5,312.1
821.2 / 5,312.1
1.3 / 1,033.6
- Financial
- Fails
- Overall
- Fails
Debt/assets is 38.42%, above the examined FTSE 33.333% limit; liquidity/assets is 5.82%, receivables-plus-cash/assets is 15.46% and disclosed interest income is 0.13% of revenue.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 38.42%, above the examined MSCI 33.33% total-assets limit; liquidity and receivables-plus-cash remain below their limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 38.42%, above the examined Malaysia 33% limit; liquidity/assets is below its limit. This is a calculation against the named ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; debt/assets fails independently.
Business-activity disclosure
Allegion manufactures and sells locks, access-control systems, door hardware and exit devices. The core industrial security-products activity is generally permissible.
Limitation: The filing does not allocate every customer facility or downstream use into a scholar-approved prohibited-revenue numerator, but no prohibited product category is identified in the reported mix.
Purification
Allegion discloses $1.3 million of interest income but does not provide a scholar-approved purification percentage or separate prohibited-activity numerator.
Inputs, assumptions and primary sources
- Amounts are USD millions from Allegion's March 31, 2026 Form 10-Q.
- Interest-bearing debt uses $2,040.9 million of gross borrowings, including the revolving facility, senior notes and other debt; operating leases are excluded.
- Cash is $308.9 million and no separately identified interest-bearing securities balance is included.
- Accounts and notes receivable are $512.3 million net; first-quarter net revenue is $1,033.6 million.
- Disclosed interest income is $1.3 million; this is not a scholar-approved purification percentage.
- Locks, access-control systems and door hardware are generally permissible security products; debt and indirect government-customer exposure remain qualitative concerns.
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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