FICO
Fair Isaac Corporation
Is FICO Halal?
Credit-scoring analytics with a material aiding-riba question; current total-assets debt and receivables screens fail.
What You Should Know
Fair Isaac sells the FICO Score and analytics software. Scores revenue is tied to credit-reporting and lending decisions, while the company does not itself lend or charge borrowers interest. Debt/assets are 177.67% and receivables plus cash are 40.98%; gross interest income is not separately disclosed.
⚠️ Concerns
- •Scores represented 65% of six-month revenue and are purpose-built for credit decisions
- •Three major consumer reporting agencies represented 58% of six-month revenue
- •Debt/assets are 177.67% and exceed examined total-assets limits
- •Receivables plus cash/assets are 40.98%
- •Interest income is netted and not separately disclosed
- •Data privacy, fair-lending regulation and model governance require continuing review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
3,639.063 / 2,048.249
272.465 / 2,048.249
839.376 / 2,048.249
- Financial
- Fails
- Overall
- Fails
Debt is 177.67% and receivables plus cash are 40.98%, exceeding the examined FTSE total-assets limits. Liquidity is 13.30%; gross interest income is unavailable, and the debt and receivables failures are decisive.
- Financial
- Fails
- Overall
- Fails
Debt is 177.67% and receivables plus cash are 40.98%, above the examined MSCI total-assets limits. Liquidity is 13.30%. This is a calculation against the named method, not an index-membership claim; business and income allocation remain incomplete.
- Financial
- Fails
- Overall
- Fails
Debt is 177.67%, above the examined 33% Malaysia SAC financial limit; identifiable liquidity is 13.30%. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security; screened business revenue remains unavailable.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Fair Isaac sells the FICO Score and analytics software. Scores revenue is tied to credit-reporting and lending decisions, while Software includes fraud, decision management, customer analytics, SaaS and professional services. The company does not itself lend or charge borrowers interest, but its core credit-scoring infrastructure creates a material school-specific aiding-riba question.
Limitation: The filing disaggregates Scores and Software and identifies major consumer-reporting-agency customers, but does not quantify revenue by interest-based lending, insurance, debt collection, telecom, retail, government or other end use into a universal prohibited-revenue numerator.
Purification
Fair Isaac does not separately disclose gross interest income and does not provide a universal activity-level allocation for lender, insurance, collection or other customer use. No fixed purification percentage is prescribed here; readers should follow the scholar or methodology they use.
Inputs, assumptions and primary sources
- Debt uses $3.639 billion of total debt net of issuance costs: $265 million drawn on the revolving line and $3.400 billion of senior-note face value. Operating lease liabilities are not entered as conventional debt.
- Cash uses $219.419 million of cash and cash equivalents. The filing separately reports $53.046 million of marketable securities held under a non-qualified deferred-compensation plan; that balance is entered as interest-bearing securities without double-counting cash.
- Receivables use $619.957 million of short-term net accounts receivable. The filing separately reports $28.444 million of long-term receivables, which are not included in this current-receivable input.
- Revenue uses $1.204 billion for the six months ended March 31, 2026: $779.507 million from Scores and $424.129 million from Software and professional services.
- Interest income is not separately disclosed: the filing reports interest expense net of interest income and says the income is derived primarily from investing excess funds. The income input is therefore unavailable rather than estimated.
- Fair Isaac's Scores segment sells credit scores to consumer reporting agencies and other customers, while Software includes on-premises and SaaS analytics and professional services. The filing does not quantify a universal prohibited-revenue numerator for lender, insurance, collection, telecom or other customer use.
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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