DECK

Deckers Outdoor Corporation

HALAL — SCREEN DOES NOT PASSstock

Is DECK Halal?

Footwear company (UGG, HOKA) with generally permissible business.

What You Should Know

Deckers designs and markets footwear brands including UGG and HOKA. Business is halal, manageable debt within Islamic thresholds. Its March 31, 2026 Form 10-K reports $3,687.765 million of assets, no conventional debt, $1,907.249 million of cash, $318.978 million of receivables and $5,472.296 million of fiscal-year sales. Liquidity/assets is 51.72% and receivables-plus-cash/assets is 60.37%, above the examined asset-based limits; product-material allocation remains qualitative.

⚠️ Concerns

  • Monitor for haram materials in products
  • Minor interest income
  • Large cash balance
  • Asset-liquidity ratios exceed examined limits

Current quantitative Sharia screen

Based on 10-K figures for the period ended 2026-03-31; calculated 2026-07-15.

USD · millions
Interest-bearing debt / assets
0.00%Within limit
Below 33.333% under FTSE Yasaar

0 / 3,687.765

Cash + interest-bearing securities / assets
51.72%Above limit
Below 33.333% under FTSE Yasaar

1,907.249 / 3,687.765

Receivables + cash / assets
60.37%Above limit
Below 50% under FTSE Yasaar

2,226.227 / 3,687.765

Non-compliant income / revenue
1.16%Within limit
No more than 5% under FTSE Yasaar

63.613 / 5,472.296

FTSE Yasaar
v4.6, February 2026
Financial
Fails
Overall
Fails

Debt/assets is 0.00%, liquidity/assets is 51.72% and receivables-plus-cash/assets is 60.37%; liquidity and receivables-plus-cash exceed the examined limits. Activity remains incomplete and disclosed interest income is 1.16%.

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

Liquidity/assets is 51.72% and receivables-plus-cash/assets is 60.37%, above the examined MSCI limits; debt is zero and activity allocation remains incomplete.

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

Identifiable conventional cash is 51.72% of assets, above the examined 33% limit; activity allocation remains incomplete.

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

A properly licensed and reproducible historical market-cap series is not stored; market-cap methods cannot cure the asset-liquidity failure.

Business-activity disclosure

Deckers designs and markets HOKA, UGG and Teva footwear, apparel and accessories. The retained qualitative analysis considers the core business generally permissible while flagging material sourcing and product-composition questions that are not resolved by the filing.

Limitation: No universal prohibited-revenue allocation is inferred from brand or product descriptions.

Purification

Deckers discloses $63.613 million of interest income, but no scholar-approved purification percentage is asserted for footwear and apparel revenue.

Inputs, assumptions and primary sources
  • Amounts are USD millions from Deckers' March 31, 2026 Form 10-K.
  • Deckers reports no conventional debt; operating lease liabilities are not silently classified as interest-bearing debt. Cash is $1,907.249 million and trade accounts receivable is $318.978 million.
  • Fiscal-year net sales are $5,472.296 million. Disclosed interest income is $63.613 million, or 1.16% of fiscal-year sales.
  • The filing does not provide a scholar-universal prohibited-revenue numerator for footwear materials, brand licensing or end markets, so activity remains incomplete.

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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