FDS
FactSet Research Systems
Is FDS Halal?
Financial data and analytics platform with excellent compliance.
What You Should Know
FactSet provides integrated financial information and analytics. Business is entirely permissible, minimal debt, exceptional financial position. Its May 31, 2026 Form 10-Q reports $4,191.997 million of assets, $1,389.701 million of interest-bearing debt, $288.114 million of cash, $289.990 million of receivables and $622.918 million of quarterly revenue. Debt/assets is 33.15%, liquidity/assets is 6.87%, receivables-plus-cash/assets is 13.79% and disclosed interest income is 0.10% of revenue; FTSE and MSCI asset ratios pass, while the examined Malaysia 33% debt limit is narrowly exceeded.
⚠️ Concerns
- •Debt/assets 33.15% is above the examined Malaysia 33% limit
- •Fixed-income and conventional-finance data workflows
- •AI-powered analytics and customer end uses
- •Interest income
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-05-31; calculated 2026-07-15.
1,389.701 / 4,191.997
288.114 / 4,191.997
578.104 / 4,191.997
0.642 / 622.918
- Financial
- Pass
- Overall
- Pass
Debt/assets is 33.15%, liquidity/assets is 6.87%, receivables-plus-cash/assets is 13.79% and disclosed interest income is 0.10% of revenue; examined FTSE financial ratios and core activity pass.
- Financial
- Pass
- Overall
- Pass
Debt/assets is 33.15%, liquidity/assets is 6.87% and receivables-plus-cash/assets is 13.79%, below the examined MSCI total-assets limits; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 33.15%, slightly above the examined Malaysia 33% limit; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; method-specific filing-based results remain documented.
Business-activity disclosure
FactSet provides financial data, analytics, subscriptions and workflow software to investment professionals. The core information-services activity is generally permissible.
Limitation: The filing does not classify every dataset, client workflow, fixed-income product or downstream use; no unsupported prohibited-revenue percentage is invented.
Purification
FactSet discloses $0.642 million of interest income, but does not provide a scholar-approved purification percentage or a separate prohibited-activity numerator.
Inputs, assumptions and primary sources
- Amounts are USD millions converted from FactSet's May 31, 2026 Form 10-Q values reported in thousands.
- Interest-bearing debt is $499.159 million of current debt plus $890.542 million of long-term debt; lease liabilities are excluded.
- Cash and cash equivalents are $288.114 million. The $16.122 million investment balance consists of mutual funds held in a rabbi trust and is not added as an interest-bearing-securities balance for this screen.
- Accounts receivable are $289.990 million, quarterly revenue is $622.918 million and disclosed interest income is $0.642 million.
- Financial data, analytics and workflow software are generally permissible, while fixed-income datasets, AI tools and customer end uses require qualitative review.
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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