BAX
Baxter International Inc.
Is BAX Halal?
Medical products and devices maker — a permissible healthcare business, with acquisition-related debt to screen.
What You Should Know
Baxter International Inc. develops and manufactures IV solutions, infusion systems, renal-care equipment, surgical products and connected-care technologies. Its March 31, 2026 Form 10-Q reports assets of $19,846 million, interest-bearing debt of $9,463 million, cash of $2,017 million, receivables of $1,698 million and quarterly revenue of $2,701 million. Debt/assets is 47.68%, liquidity/assets is 10.17% and receivables-plus-cash/assets is 18.72%; the filing-based debt screen fails. The medical-products activity is generally permissible, while the filing does not provide a reproducible gross non-compliant-income numerator.
⚠️ Concerns
- •Known interest-bearing debt/assets is 47.68%, above examined 33.333% limits
- •Carries acquisition and divestiture-related leverage; the verdict can change as debt moves
- •No reproducible gross non-compliant-income numerator is disclosed
- •Medical product and hospital end uses require qualitative review
- •Re-screen before each purchase given balance-sheet sensitivity
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
9,463 / 19,846
2,018 / 19,846
3,715 / 19,846
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.68%, above the examined 33.333% limit; liquidity/assets is 10.17%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.68%, above the examined MSCI 33.33% limit; liquidity and receivables-plus-cash remain below their limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.68%, above the examined Malaysia limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the asset-based debt screen fails.
Business-activity disclosure
Baxter develops and manufactures IV solutions, infusion systems, renal-care equipment, surgical products and other medical technologies; the medical-products activity is generally permissible.
Limitation: The filing does not provide a universal prohibited-revenue numerator across products and customer uses.
Purification
No reproducible gross non-compliant-income numerator is disclosed; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Baxter's March 31, 2026 Form 10-Q.
- Debt combines current debt and capital-lease obligations of $842 million with noncurrent debt and lease obligations of $8,621 million.
- Cash is $2,017 million. The filing reports $1 million of available-for-sale debt securities.
- Receivables use the reported net current accounts-receivable balance of $1,698 million.
- The filing does not provide a reproducible gross non-compliant-income numerator; medical products and devices are generally permissible, while product allocation remains qualitative.
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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