EXPD
Expeditors International
Is EXPD Halal?
Logistics provider — permissible cargo handling.
What You Should Know
Expeditors provides international freight forwarding and customs brokerage. Core logistics is permissible. Its March 31, 2026 Form 10-Q reports $4,781.680 million of assets, no reported interest-bearing debt, $1,316.497 million of cash, $2,056.808 million of receivables and $2,782.962 million of quarterly revenue. Debt/assets is 0.00%, liquidity/assets is 27.53%, receivables-plus-cash/assets is 70.55%, and disclosed interest income is 0.31% of revenue; the receivables-plus-cash screens fail under FTSE and MSCI while cargo end uses remain qualitative.
⚠️ Concerns
- •Receivables-plus-cash/assets exceeds the examined FTSE and MSCI limits
- •Interest income
- •Cargo and customer end-use mix
- •Customs brokerage and geopolitical exposure
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
0 / 4,781.68
1,316.497 / 4,781.68
3,373.305 / 4,781.68
8.64 / 2,782.962
- Financial
- Fails
- Overall
- Fails
Debt/assets is 0.00%, liquidity/assets is 27.53%, receivables-plus-cash/assets is 70.55% above the examined 50% limit, and disclosed income is 0.31% of revenue.
- Financial
- Fails
- Overall
- Fails
Receivables-plus-cash/assets is 70.55%, above the examined MSCI 33.33% limit; debt/assets is 0.00% and liquidity/assets is 27.53%.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 0.00% and liquidity/assets is 27.53%; activity remains incomplete and the calculation is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
Expeditors provides international freight forwarding, customs brokerage and logistics services. The core logistics business is generally permissible, while cargo end uses, customer industries and customs activity require qualitative review.
Limitation: The filing does not provide a universal prohibited-activity numerator across cargo, customers and destinations.
Purification
Expeditors discloses $8.640 million of interest income but does not provide a complete prohibited-activity numerator or scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Expeditors' March 31, 2026 Form 10-Q.
- No interest-bearing debt is reported on the condensed consolidated balance sheet; operating lease liabilities are excluded.
- Cash and cash equivalents are $1,316.497 million and no separate interest-bearing securities line is reported.
- Accounts receivable, net are $2,056.808 million and quarterly revenues are $2,782.962 million. Interest income is $8.640 million.
- Freight forwarding, customs brokerage and logistics services are generally permissible, but cargo end uses and customer industries are not reduced to a universal prohibited-activity 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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