BILL
Bill.com Holdings
Is BILL Halal?
Payment and accounting software — permissible.
What You Should Know
Bill.com provides cloud-based accounting and payment software. Permissible software (not interest-based lending). Its March 31, 2026 Form 10-Q reports $10,078.806 million of assets, $1,834.854 million of borrowings and notes, $994.672 million of corporate cash, $2,907.061 million of interest-bearing securities, $851.499 million of receivables and $406.563 million of revenue. Debt/assets is 18.21%, liquidity/assets is 38.71%, receivables-plus-cash/assets is 18.32%, and disclosed interest income is 8.71% of revenue; liquidity and disclosed-income screens fail while payment and customer-funds activity remains a qualitative question.
⚠️ Concerns
- •Interest on customer funds
- •Liquidity/assets exceeds the examined limits
- •Convertible debt
- •Card receivables and customer-fund arrangements
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
1,834.854 / 10,078.806
3,901.733 / 10,078.806
1,846.171 / 10,078.806
35.429 / 406.563
- Financial
- Fails
- Overall
- Fails
Debt/assets is 18.21%, liquidity/assets is 38.71% above the examined 33.333% limit, receivables-plus-cash/assets is 18.32%, and disclosed interest income is 8.71% of revenue.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 38.71% above the examined MSCI 33.33% limit; debt/assets is 18.21% and receivables-plus-cash/assets is 18.32%.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets exceeds the examined Malaysia limit and disclosed interest income is 8.71% of revenue; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the liquidity and disclosed-income failures remain independently documented.
Business-activity disclosure
BILL provides accounting, payment and spend-management software. The software core is generally permissible, but customer-fund custody, card receivables and payment structures require qualitative Sharia review.
Limitation: The filing does not provide a universal prohibited-activity numerator for payment, card and customer-fund activities.
Purification
BILL discloses $35.429 million of interest income within revenue, but does not provide a complete prohibited-activity numerator; no definitive purification percentage is invented.
Inputs, assumptions and primary sources
- Amounts are USD millions from BILL's March 31, 2026 Form 10-Q.
- Interest-bearing debt is $330.000 million of credit-facility borrowings plus $1,504.854 million of convertible senior notes.
- Corporate cash is $994.672 million; short-term investments plus customer-fund debt securities total $2,907.061 million. Customer restricted cash and cash equivalents are not counted as corporate cash.
- Accounts receivable include $32.140 million of trade receivables plus $819.359 million of acquired card receivables. Revenue is $406.563 million, including $35.429 million of interest on customer funds.
- Payment facilitation, customer-fund custody and card/receivable products are not reduced to a universal prohibited-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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