DSGX
The Descartes Systems Group Inc.
Is DSGX Halal?
Logistics, transportation and trade-compliance software — generally permissible activity whose known asset-based ratios pass, with gross interest income and activity classification incomplete.
What You Should Know
Descartes Systems Group's January 31, 2026 Form 40-F reports assets of $1,895.665 million, no interest-bearing debt, cash of $356.526 million, receivables of $64.771 million and fiscal-year revenue of $728.992 million. Debt/assets is 0.00%, liquidity/assets is 18.81% and receivables plus cash/assets is 22.22%; known asset-based ratios pass, but gross interest income and a universal prohibited-revenue numerator are not separately disclosed.
⚠️ Concerns
- •Known asset-based ratios pass, but gross interest income and business revenue classification remain incomplete
- •Canadian foreign-issuer reporting cadence and U.S.-dollar presentation
- •Acquisition and integration activity can change leverage and mix
- •Trade-compliance, customs and transportation end uses require qualitative review
- •No universal prohibited-revenue numerator is disclosed
Current quantitative Sharia screen
Based on 40-F figures for the period ended 2026-01-31; calculated 2026-07-15.
0 / 1,895.665
356.526 / 1,895.665
421.297 / 1,895.665
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 0.00%, liquidity/assets is 18.81% and receivables-plus-cash/assets is 22.22%; gross interest income is unavailable.
- Financial
- Pass
- Overall
- Incomplete
Known debt, liquidity and receivables-plus-cash ratios are below the examined MSCI limits; gross interest income and business activity remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Known debt/assets and identifiable liquidity/assets are below the examined Malaysia limits; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
Descartes develops logistics, transportation-management, customs and trade-compliance software delivered through its Global Logistics Network. The core software activity is generally permissible, but the filing does not provide a universal prohibited-revenue numerator for downstream customers or use cases.
Limitation: No universal prohibited-activity revenue numerator or scholar-specific purification percentage is disclosed, and gross interest income is not separately isolated.
Purification
Gross interest income is not separately disclosed and no scholar-approved purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions in U.S. dollars from Descartes Systems Group's January 31, 2026 Form 40-F.
- The filing's consolidated balance sheet reports no interest-bearing debt balance at period end; operating leases are excluded.
- Cash and cash equivalents are $356.526 million, accounts receivable net is $64.771 million and no separately identified interest-bearing securities balance is added.
- Fiscal-year revenue is $728.992 million. The filing does not separately disclose gross interest income, so no income percentage is estimated.
- Descartes is a Canadian foreign issuer; this SEC 40-F is used as the primary filing source without changing the article URL.
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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