CSCO

Cisco Systems Inc.

HALAL — FINANCIAL SCREENS PASSstock

Is CSCO Halal?

Networking and cybersecurity infrastructure — April 2026 financial ratios pass, while downstream end-use revenue is not separately disclosed.

What You Should Know

Cisco's April 25, 2026 Form 10-Q shows $125,546 million of assets, $23,002 million of debt, $16,263 million of cash plus identifiable debt securities and $13,058 million of broad receivables. Debt/assets is 18.32%, liquidity/assets is 12.95% and receivables plus cash/assets is 16.04%.

⚠️ Concerns

  • Networking tools can support beneficial infrastructure or surveillance and military uses
  • Government and large-enterprise end-use mix is not screened
  • Minor disclosed investment income and financing receivables

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-04-25; calculated 2026-07-14.

USD · millions
Interest-bearing debt / assets
18.32%Within limit
Below 33.333% under FTSE Yasaar

23,002 / 125,546

Cash + interest-bearing securities / assets
12.95%Within limit
Below 33.333% under FTSE Yasaar

16,263 / 125,546

Receivables + cash / assets
16.04%Within limit
Below 50% under FTSE Yasaar

20,141 / 125,546

Non-compliant income / revenue
1.35%Within limit
No more than 5% under FTSE Yasaar

214 / 15,841

FTSE Yasaar
v4.6, February 2026
Financial
Pass
Overall
Incomplete

Debt/assets is 18.32%, liquidity/assets is 12.95%, receivables-plus-cash/assets is 16.04%, and disclosed interest income is 1.35%; financial ratios pass, while end-use revenue remains incomplete.

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

Debt, liquidity and receivables-plus-cash are below the examined MSCI total-assets thresholds; business activity remains qualified.

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

Debt/assets and identifiable liquidity/assets are below the examined Malaysia SAC limits. This is a calculation against SAC ratios, not an official SAC classification.

Market-cap denominator methods
MSCI M-Series, S&P and Dow Jones methods differ
Financial
Not calculated
Overall
Not calculated

A licensed historical market-cap series is not stored, so market-cap denominator methods are not estimated from a spot price.

Business-activity disclosure

Cisco supplies networking, security, collaboration and observability hardware and software. General IT infrastructure is generally permissible.

Limitation: Public reporting does not classify revenue by defense, surveillance, gambling, adult content, or other sensitive customer/end uses, and financing receivables are not separately characterized for every contract.

Purification

Disclosed investment income is 1.35% of quarterly revenue, but a complete non-compliant-income decomposition is unavailable. ZakatInvest does not prescribe a fixed purification percentage.

Inputs, assumptions and primary sources
  • Amounts are USD millions from Cisco's April 25, 2026 Form 10-Q.
  • Debt is the disclosed debt-instrument carrying amount. Interest-bearing securities are available-for-sale debt securities; equity investments in the broader investments line are excluded.
  • Accounts receivable includes trade receivables plus current and non-current financing receivables.
  • Cisco does not separately disclose prohibited-business or downstream end-use revenue; interest income is used as the disclosed non-compliant income proxy.

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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