BOOZ

Booz Allen Hamilton

HARAM — SCREEN DOES NOT PASSstock

Is BOOZ Halal?

Defense consulting — government intelligence and defense advisory.

What You Should Know

Booz Allen's March 31, 2026 filing reports debt/assets of 55.35%, liquidity/assets of 10.23% and receivables plus cash/assets of 39.21%. Defense and intelligence consulting remains the core qualitative concern; the filing does not provide a school-specific prohibited-revenue numerator or gross interest income.

⚠️ Concerns

  • Defense intelligence consulting is core business
  • Debt screen fails at 55.35% of assets
  • MSCI receivables-plus-cash screen fails at 39.21%
  • Gross interest income is not separately disclosed

Current quantitative Sharia screen

Based on 10-K figures for the period ended 2026-03-31; calculated 2026-07-14.

USD · millions
Interest-bearing debt / assets
55.35%Above limit
Below 33.333% under FTSE Yasaar

3,940 / 7,118

Cash + interest-bearing securities / assets
10.23%Within limit
Below 33.333% under FTSE Yasaar

728 / 7,118

Receivables + cash / assets
39.21%Within limit
Below 50% under FTSE Yasaar

2,791 / 7,118

FTSE Yasaar
v4.6, February 2026
Financial
Fails
Overall
Fails

Debt is 55.35% of total assets, above the examined 33.333% limit; liquidity is 10.23%, receivables plus cash are 39.21% and gross interest income is unavailable.

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

Debt is 55.35% and receivables plus cash are 39.21% of total assets, above the examined 33.33% limits; this is not an index-membership claim.

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

Debt is 55.35% of total assets, above the examined 33% limit; identifiable liquidity is below 33%. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.

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 stored, so market-cap methods are not estimated from a current spot price.

Business-activity disclosure

Booz Allen is a defense and intelligence consulting contractor. The existing qualitative HARAM verdict is retained because military and intelligence advisory work is central to the business, while the automated business screen remains incomplete without a school-specific prohibited-revenue numerator.

Limitation: The annual filing does not allocate revenue into a reproducible prohibited-activity numerator by defense, intelligence, civilian government, commercial or contract end use; gross interest income is also unavailable.

Purification

Gross interest income and a school-approved purification numerator are unavailable; the adverse defense and intelligence activity assessment is retained qualitatively and no fixed amount is prescribed.

Inputs, assumptions and primary sources
  • Interest-bearing debt combines 19 of current long-term debt with 3,921 of long-term debt net of current portion.
  • Cash and cash equivalents are 728 and include money-market funds. No separate unrestricted interest-bearing securities balance is reported.
  • Accounts receivable, net are 2,063 and fiscal-year revenue is 11,217.
  • Booz Allen reports a government and defense-heavy contract portfolio, but it does not provide a reproducible school-specific prohibited-revenue numerator; government contracting is not automatically treated as a numeric prohibited-revenue amount here.
  • Gross interest income is not separately disclosed; the filing reports net interest expense and an interest-income discussion without a reproducible gross income line.

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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