CDW
CDW Corporation
Is CDW Halal?
IT resale, integration and services — generally permissible activity, but current debt and receivables screens fail.
What You Should Know
CDW's March 31, 2026 Form 10-Q reports assets of $16,453.4 million, debt of $5,641.0 million, cash of $578.6 million, total current and unbilled receivables of $7,742.6 million and quarterly net sales of $5,679.8 million. Debt/assets is 34.28%, liquidity/assets is 3.52% and receivables plus cash/assets is 50.57%. Interest expense, net includes interest income but the filing does not separately disclose gross interest income; no universal prohibited-revenue numerator is disclosed.
⚠️ Concerns
- •Debt/assets is 34.28%, above examined FTSE, MSCI and Malaysia limits
- •Receivables-plus-cash/assets is 50.57%, above examined FTSE and MSCI limits
- •Accounts-payable inventory financing and leveraged capital structure
- •Government, healthcare and financial-services customer end uses
- •Gross interest income is unavailable; no fixed purification percentage asserted
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
5,641 / 16,453.4
578.6 / 16,453.4
8,321.2 / 16,453.4
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.28% and receivables-plus-cash/assets is 50.57%, above the examined FTSE limits; gross interest income is unavailable.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.28% and receivables-plus-cash/assets is 50.57%, above the examined MSCI limits; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.28%, above the examined Malaysia limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based debt and receivables screens already fail.
Business-activity disclosure
CDW resells and integrates hardware, software, cloud and services for business, government, education and healthcare customers. The general IT-reseller activity is generally permissible, while customer and end-use revenue is not reduced to a universal prohibited-revenue numerator.
Limitation: The filing does not classify every customer project or financing-related stream by a universal Sharia category; activity remains qualitative.
Purification
CDW reports interest expense, net and says it includes interest income, but no standalone gross interest-income numerator is disclosed; ZakatInvest does not prescribe a purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from CDW's March 31, 2026 Form 10-Q.
- Debt includes $1,005.9 million of current maturities and $4,635.1 million of long-term debt; accounts-payable inventory financing is not included in the debt numerator.
- Cash and cash equivalents are $578.6 million; no short-term investment balance is reported at period end.
- Total accounts receivable is $7,742.6 million, including current and unbilled noncurrent receivables; first-quarter net sales are $5,679.8 million.
- Interest expense, net includes interest income, but the filing does not separately disclose a gross interest-income numerator.
- IT resale, integration and services are generally permissible, while customer end uses remain 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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