CLS
Celestica Inc.
Is CLS Halal?
Electronics manufacturing and supply-chain services — generally permissible activity, but the current MSCI receivables screen fails and gross interest income is unavailable.
What You Should Know
Celestica's March 31, 2026 Form 10-Q reports assets of $8,260.0 million, borrowings and finance-lease obligations of $772.4 million, cash of $378.0 million, receivables of $3,167.4 million and quarterly revenue of $4,047.0 million. Debt/assets is 9.35%, liquidity/assets is 4.58% and receivables plus cash/assets is 42.92%; the MSCI receivables screen fails. The filing reports finance costs but no standalone gross interest-income numerator.
⚠️ Concerns
- •Receivables-plus-cash/assets is 42.92%, above the examined MSCI limit
- •Aerospace and defense-adjacent customer programs
- •Very large receivables and working-capital exposure
- •Credit-facility and finance-lease obligations
- •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.
772.4 / 8,260
378 / 8,260
3,545.4 / 8,260
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 9.35%, liquidity/assets is 4.58% and receivables-plus-cash/assets is 42.92%; known ratios pass the FTSE limits, but gross interest income is unavailable.
- Financial
- Fails
- Overall
- Fails
Receivables-plus-cash/assets is 42.92%, above the examined MSCI total-assets limit; this is not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Known debt and liquidity ratios pass the examined Malaysia limits; gross interest income and activity classification remain incomplete.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the MSCI receivables-plus-cash screen fails.
Business-activity disclosure
Celestica provides electronics manufacturing, design and supply-chain services for communications, enterprise, healthtech, aerospace and defense-adjacent customers. The manufacturing 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 program or end use by a universal Sharia category, and gross interest income is not separately disclosed.
Purification
A standalone gross interest-income numerator is not disclosed; ZakatInvest does not prescribe a purification percentage from finance costs.
Inputs, assumptions and primary sources
- Amounts are USD millions from Celestica's March 31, 2026 Form 10-Q.
- Debt includes current and long-term borrowings under the credit facility and finance-lease obligations totaling $772.4 million; operating lease liabilities are excluded.
- Cash and cash equivalents are $378.0 million; no separate interest-bearing securities balance is included.
- Net accounts receivable is $3,167.4 million and first-quarter revenue is $4,047.0 million.
- The filing reports finance costs but does not provide a standalone gross interest-income numerator; income is therefore unavailable for this screen.
- Electronics manufacturing and supply-chain services are generally permissible, but customer, aerospace and defense-adjacent 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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