AMAT

Applied Materials Inc.

DOUBTFUL — FINANCIAL SCREENS PASSstock

Is AMAT Halal?

Applied Materials' April 2026 financial ratios pass the examined total-assets screens, but its filing does not disclose a reproducible Sharia-screened revenue numerator across equipment, services, software, customers and end uses.

What You Should Know

Applied Materials designs and sells semiconductor and display-manufacturing equipment and related services, which are generally permissible industrial activities. Current debt, liquidity, receivables and disclosed-interest ratios pass the examined total-assets screens. The public filing does not classify revenue by a Sharia-screened product, contract, customer, end use or financial activity, so ZakatInvest retains a doubtful classification instead of claiming that all revenue is permissible or prescribing a complete purification percentage.

⚠️ Concerns

  • Interest-bearing debt is 16.02% of total assets
  • Disclosed interest income was 1.21% of quarterly revenue
  • Fixed-income cash equivalents and investments are 26.70% of total assets
  • Equipment, service, software, customer and end-use revenue is not disclosed as a Sharia-screened numerator
  • Dual-use technology, export controls, customer use, labor, responsible minerals, chemicals, water, energy, waste and community impacts require qualitative review

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-04-26; calculated 2026-07-13.

USD · millions
Interest-bearing debt / assets
16.02%Within limit
Below 33.333% under FTSE Yasaar

6,455 / 40,286

Cash + interest-bearing securities / assets
26.70%Within limit
Below 33.333% under FTSE Yasaar

10,756 / 40,286

Receivables + cash / assets
31.46%Within limit
Below 50% under FTSE Yasaar

12,673 / 40,286

Non-compliant income / revenue
1.21%Within limit
No more than 5% under FTSE Yasaar

96 / 7,910

FTSE Yasaar
v4.6, February 2026
Financial
Pass
Overall
Incomplete

Debt is 16.02%, identifiable liquidity is 26.70%, receivables plus cash is 31.46%, and disclosed interest income is 1.21%; all examined financial ratios pass. The screened business-revenue calculation remains incomplete.

MSCI Islamic (total-assets series)
October 2024 methodology
Financial
Pass
Overall
Incomplete

Debt, cash plus identifiable interest-bearing securities, and receivables plus cash are below the examined total-assets limits. This is not a claim about index membership; business-activity revenue remains undisclosed.

Malaysia SAC financial ratios
single 5% activity benchmark adopted November 2025
Financial
Pass
Overall
Incomplete

Identifiable conventional cash and interest-bearing instruments and conservatively defined interest-bearing debt are below 33% of total assets. This is a calculation against the SAC ratios, not an official SAC classification of a U.S.-listed security; screened business revenue is unavailable.

Market-cap denominator methods
MSCI M-Series, S&P and Dow Jones methods differ
Financial
Not calculated
Overall
Not calculated

A properly licensed and reproducible 24- or 36-month issuer market-cap history is not yet stored, so these methods are not estimated from a current spot price.

Business-activity disclosure

Applied Materials develops and sells semiconductor and display-manufacturing equipment, services and related technologies. Semiconductor manufacturing equipment, maintenance and material-engineering services are generally permissible industrial activities that can support computing, communications, health, safety, energy and other uses. Equipment and services remain capable of different end uses, so a general-purpose technology classification does not replace product-, customer- and contract-specific evidence.

Limitation: The filing reports broad segment and geographic revenue, not revenue classified by a Sharia-screened product, software, service, customer, end use, contractual term or financial activity. No separately disclosed prohibited category is not proof of a zero numerator, so an exact prohibited-revenue percentage cannot be reproduced from consolidated disclosure.

Purification

Disclosed interest income equals 1.21% of quarterly revenue and passes the examined income limit. Equipment, service, software, customer and end-use revenue is not separately screened, so 1.21% is evidence for the income screen rather than a complete fixed purification prescription.

Inputs, assumptions and primary sources
  • Interest-bearing debt is the reported 1,199 current portion of long-term debt plus 5,256 long-term debt. The debt captions include the effect of the issuer's interest-rate swaps and unamortized discount and issuance costs.
  • Cash and cash equivalents use the reported 6,301 balance. Identifiable interest-bearing securities use the reported 4,455 fixed-income securities, including bank certificates and time deposits, Treasury and agency securities, municipal securities, commercial paper, corporate bonds, medium-term notes and asset- and mortgage-backed securities. Public and private equity investments are excluded from that liquidity numerator.
  • Accounts receivable use the reported 6,372 net balance.
  • Revenue of 7,910 and disclosed interest income of 96 use the same three-month period ended April 26, 2026. The issuer separately reports higher net interest-and-other income driven primarily by unrealized gains on equity investments; that broader line is not treated as interest income.
  • The filing reports Semiconductor Systems, Applied Global Services and Other revenue, but does not classify revenue by a Sharia-screened equipment, service, software, customer, end-use, contract or financial-activity numerator.

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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