ETSY
Etsy Inc.
Is ETSY Halal?
Marketplace trade is generally permissible, but the latest debt and liquidity ratios materially fail.
What You Should Know
Etsy's March 31, 2026 filing reports 114.72% interest-bearing debt/assets, 53.18% identifiable liquidity/assets and 45.62% receivables-plus-cash/assets. The filing does not separately disclose interest income. Seller listings and product categories require qualitative review, so the platform is not treated as a universal halal product screen.
⚠️ Concerns
- •Debt/assets is 114.72%, above the examined limits
- •Liquidity/assets is 53.18%
- •Seller listings are not quantified under a universal prohibited-product taxonomy
- •Interest income is not separately disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
3,075.773 / 2,681.053
1,425.765 / 2,681.053
1,223.085 / 2,681.053
- Financial
- Fails
- Overall
- Fails
Debt/assets is 114.72%, liquidity/assets is 53.18% and receivables plus cash/assets is 45.62%; debt and liquidity exceed the examined FTSE limits, while interest income remains unavailable.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 114.72% and liquidity/assets is 53.18%, above the examined MSCI total-assets limits; receivables plus cash/assets is 45.62%. This is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 114.72% and identifiable liquidity/assets is 53.18%, above the examined Malaysia SAC 33% limits. This is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed reproducible 24- or 36-month market-cap history is not stored; a spot estimate is not substituted.
Business-activity disclosure
Etsy operates a marketplace for handmade, vintage and craft goods. Facilitating ordinary trade is generally permissible, but seller-category, product-listing and payments exposure require qualitative review.
Limitation: The filing does not quantify potentially prohibited listings or gross interest income under a universal Sharia taxonomy.
Purification
Interest income is not separately disclosed in the current filing. ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Etsy's March 31, 2026 Form 10-Q.
- Interest-bearing debt includes short-term debt, long-term debt and finance lease obligations (3,075.773); operating seller and funds-payable balances are excluded.
- Cash is 1,214.374 and short-term investments are 211.391; long-term investments are not classified as interest-bearing securities without instrument detail.
- Accounts receivable is 8.711 and quarterly revenue is 631.277.
- Interest income is not separately disclosed; seller categories and product listings are not allocated to a universal prohibited-revenue numerator.
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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