BOX
Box, Inc.
Is BOX Halal?
Cloud content-management and collaboration software — a permissible SaaS business whose current debt/assets screen fails.
What You Should Know
Box provides cloud content-management, collaboration, security and governance software. Its April 30, 2026 Form 10-Q reports assets of $1,421.648 million, debt and operating leases of $563.684 million, cash of $378.836 million, short-term investments of $98.207 million, receivables of $192.343 million and quarterly revenue of $305.941 million. Debt/assets is 39.65%, liquidity/assets is 33.56% and receivables plus cash/assets is 40.18%; the asset-based debt screen fails. The filing reports $2.986 million of interest income, approximately 0.98% of quarterly revenue, while no universal prohibited-revenue numerator is disclosed.
⚠️ Concerns
- •Known debt/assets is 39.65%, above examined 33.333% limits
- •Liquidity/assets is 33.56%, just above the examined 33.333% limits
- •Disclosed interest income is 0.98% of quarterly revenue; no fixed purification percentage asserted
- •Convertible debt, leases and buyback financing require continuing review
- •No universal prohibited-revenue numerator is disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-15.
563.684 / 1,421.648
477.043 / 1,421.648
571.179 / 1,421.648
2.986 / 305.941
- Financial
- Fails
- Overall
- Fails
Debt/assets is 39.65%, above the examined 33.333% limit; liquidity/assets is 33.56%, receivables-plus-cash/assets is 40.18% and disclosed interest income is 0.98%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 39.65%, liquidity/assets is 33.56% and receivables-plus-cash/assets is 40.18%, above the examined MSCI limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 39.65% and liquidity/assets is 33.56%, above the examined Malaysia limits. This is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; asset-based debt screening already fails.
Business-activity disclosure
Box provides cloud content-management, collaboration, security and governance software. The core SaaS activity is generally permissible, while customer-use allocation remains qualitative.
Limitation: The filing does not provide a universal prohibited-revenue numerator across customer use cases.
Purification
The filing discloses $2.986 million of interest income, but no scholar-specific purification instruction or universal prohibited-revenue numerator is provided.
Inputs, assumptions and primary sources
- Amounts are USD millions from Box's April 30, 2026 Form 10-Q for the three months ended that date.
- Debt combines $451.610 million debt, the $112.074 million operating-lease liability balance and no separately identified current borrowing beyond the reported debt balance.
- Cash is $378.836 million, short-term investments are $98.207 million and net accounts receivable is $192.343 million.
- The filing discloses $2.986 million of interest income, approximately 0.98% of quarterly revenue.
- Cloud content-management and collaboration software is generally permissible, but no universal prohibited-revenue numerator is asserted.
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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