HEI
HEICO Corporation
Is HEI Halal?
Aerospace manufacturing is generally permissible, but defense end-use and income disclosure remain incomplete.
What You Should Know
HEICO's April 30, 2026 filing reports 26.97% interest-bearing debt/assets, 2.19% cash/assets and 9.85% receivables-plus-cash/assets. Available financial ratios pass, while defense exposure and interest income are not fully quantified.
⚠️ Concerns
- •Defense and military end-use may be treated differently by scholars
- •Acquisition financing increased debt
- •Interest income is not separately disclosed
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-30; calculated 2026-07-14.
2,587.29 / 9,592.213
210.335 / 9,592.213
945.29 / 9,592.213
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 26.97%, liquidity/assets is 2.19% and receivables plus cash/assets is 9.85%; available ratios pass but the income input is unavailable and defense exposure is not quantified.
- Financial
- Pass
- Overall
- Incomplete
The examined total-assets financial ratios pass; defense end-use and market-cap records remain incomplete. This is not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable liquidity/assets are below the examined limits; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed reproducible market-cap history is not stored; a spot estimate is not substituted.
Business-activity disclosure
HEICO makes aerospace components, electronics and aftermarket parts. Manufacturing is generally permissible, while defense end-use and acquisition mix require qualitative scholarly review.
Limitation: The filing does not quantify defense-related revenue under a universal Sharia taxonomy or provide a reproducible market-cap history.
Purification
Interest income is not separately disclosed; investors should seek qualified guidance and ZakatInvest does not prescribe a fixed percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from HEICO's April 30, 2026 Form 10-Q.
- Debt is current debt of 3.402 plus long-term debt and capital lease obligations of 2,583.888; operating leases are excluded.
- Cash is 210.335 and accounts receivable is 734.955.
- Six-month net sales are 2,554.295.
- The filing does not isolate a universal prohibited-revenue or interest-income 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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