DAY
Dayforce, Inc.
Is DAY Halal?
Cloud payroll and HCM software — a generally permissible activity, but the last public filing fails liquidity and investment-income screens and the stock was delisted after acquisition.
What You Should Know
Dayforce provides cloud payroll, workforce-management, benefits and human-capital-management software. Its September 30, 2025 Form 10-Q, the last public quarterly filing before the February 2026 acquisition, reports assets of $8,676.2 million, debt and leases of $1,226.9 million, corporate cash of $627.6 million, identifiable customer-fund available-for-sale debt securities of $2,616.7 million, receivables of $325.1 million and quarterly revenue of $481.6 million. Debt/assets is 14.14%, identifiable liquidity/assets is 37.39% and receivables plus cash/assets is 10.98%; liquidity fails. Customer-fund investment income of $42.2 million is a conservative mixed-income proxy of 8.76% of revenue. Dayforce was acquired by Thoma Bravo and its common stock ceased trading and was delisted in February 2026; no current market-cap screen is available.
⚠️ Concerns
- •Dayforce common stock ceased trading and was delisted after the February 2026 acquisition
- •Identifiable customer-fund liquidity/assets is 37.39%, above examined 33.333% limits
- •Customer-fund investment income is a conservative mixed-income proxy of 8.76% of quarterly revenue; it includes interest, gains/losses and credit losses
- •Customer-fund obligations are fiduciary balances and are excluded from interest-bearing debt
- •No universal prohibited-revenue numerator or current market-cap denominator is available
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2025-09-30; calculated 2026-07-15.
1,226.9 / 8,676.2
3,244.3 / 8,676.2
952.7 / 8,676.2
42.2 / 481.6
- Financial
- Fails
- Overall
- Fails
Identifiable liquidity/assets is 37.39%, above the examined 33.333% limit, and the conservative customer-fund investment-income proxy is 8.76% of revenue; debt/assets is 14.14% and receivables-plus-cash/assets is 10.98%.
- Financial
- Fails
- Overall
- Fails
Identifiable liquidity/assets is 37.39%, above the examined MSCI limit; debt/assets is 14.14% and receivables-plus-cash/assets is 10.98%.
- Financial
- Fails
- Overall
- Fails
Identifiable liquidity/assets is 37.39% and the conservative investment-income proxy is 8.76%, above the examined Malaysia benchmarks. This is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
Dayforce was acquired and delisted in February 2026; no current public market-cap series exists and the last-public-filing asset screen already fails.
Business-activity disclosure
Dayforce provides cloud payroll, workforce-management, benefits and human-capital-management software. The software activity is generally permissible, but the last public filing reflects a company acquired and delisted in February 2026.
Limitation: The filing does not allocate revenue into a universal prohibited-activity numerator, and no current public market-cap denominator exists after the acquisition.
Purification
Dayforce reports $42.2 million of customer-fund investment income in recurring revenue, but the amount includes interest, realized gains/losses and credit losses; no scholar-specific purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Dayforce's September 30, 2025 Form 10-Q, the last public quarterly filing before the February 4, 2026 acquisition completion and delisting.
- Debt includes $1,213.4 million of current and long-term debt and $13.5 million of current and long-term lease liabilities; customer-fund obligations are fiduciary balances and are excluded from interest-bearing debt.
- Corporate cash and equivalents are $627.6 million. Identifiable customer-fund available-for-sale debt securities are $2,616.7 million; they are included in liquidity with a clear restricted-customer-funds caveat, while the full $4,433.8 million customer-funds balance is not treated as securities.
- Trade and other receivables, net are $325.1 million and third-quarter revenue is $481.6 million.
- Investment income from customer funds included in recurring revenue is $42.2 million. Because the filing says investment income includes interest income, realized gains/losses and unrecoverable credit losses, this is a conservative upper-bound proxy rather than a pure interest numerator.
- Dayforce's payroll and HCM software is generally permissible, but the security is no longer publicly traded and no universal prohibited-revenue numerator is disclosed.
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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