EXPO
Exponent, Inc.
Is EXPO Halal?
Engineering and scientific consulting — methodology-dependent current financial results with an MSCI-style receivables-plus-cash failure.
What You Should Know
Exponent's April 3, 2026 Form 10-Q reports assets of $687.381 million, no interest-bearing debt, cash of $118.553 million, receivables of $197.336 million and quarterly revenue of $166.303 million. Debt/assets is 0.00%, liquidity/assets is 17.25%, receivables plus cash/assets is 45.96% and disclosed interest income is 1.03% of revenue. The FTSE-style and Malaysia-style known ratios pass while the MSCI-style receivables-plus-cash screen fails; no universal prohibited-revenue numerator is disclosed.
⚠️ Concerns
- •Receivables-plus-cash/assets is 45.96%, above the examined MSCI 33.33% limit
- •FTSE-style and Malaysia-style known ratios pass
- •Litigation and reactive-engagement timing can move receivables
- •Deferred-compensation plan assets are excluded from corporate liquidity
- •Disclosed interest income is 1.03% of quarterly revenue; no fixed purification percentage asserted
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-03; calculated 2026-07-15.
0 / 687.381
118.553 / 687.381
315.889 / 687.381
1.718 / 166.303
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 0.00%, liquidity/assets is 17.25%, receivables-plus-cash/assets is 45.96% and disclosed interest income is 1.03%; known FTSE-style ratios pass while activity remains qualitative.
- Financial
- Fails
- Overall
- Fails
Receivables-plus-cash/assets is 45.96%, above the examined MSCI 33.33% limit; this is not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
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; methodology-specific asset ratios remain documented.
Business-activity disclosure
Exponent provides engineering, scientific consulting, failure analysis, risk assessment and litigation-support services. The core professional-services activity is generally permissible, but the filing does not provide a universal prohibited-revenue numerator across clients and engagements.
Limitation: No universal prohibited-activity revenue numerator or scholar-specific purification percentage is disclosed; client end use remains qualitative.
Purification
The filing discloses $1.718 million of interest income, but ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Exponent's April 3, 2026 Form 10-Q.
- The balance sheet reports no interest-bearing debt; operating leases are excluded.
- Cash and cash equivalents are $118.553 million and accounts receivable, net are $197.336 million. Deferred-compensation plan assets are excluded from interest-bearing securities because they are plan assets rather than corporate liquidity investments.
- First-quarter revenue is $166.303 million and reported interest income, net is $1.718 million (1.03% of revenue).
- Receivables-plus-cash/assets is 45.96%, below the examined FTSE 50% limit but above the examined MSCI 33.33% limit; 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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