ITGR
Integer Holdings Corporation
Is ITGR Halal?
Contract manufacturer of medical devices and components — the underlying activity is permissible, but acquisition-driven leverage keeps the debt screen the binding concern.
What You Should Know
Integer Holdings Corporation is one of the largest medical-device outsourced manufacturers, producing components and finished devices — including cardiac, neuromodulation, vascular, and electrochemical-energy products — for the medical-device industry, plus a non-medical electrochem segment. Manufacturing medical-device components is generally permissible, while energy, military and environmental end uses require qualitative review. Its April 3, 2026 Form 10-Q reports $3,411.719 million of assets, $1,251.527 million of long-term debt, $8.115 million of cash, $327.776 million of receivables and $439.580 million of sales. Debt/assets is 36.68%, above the displayed 33.333% limit; liquidity and receivables-plus-cash pass. Gross interest income is not separately disclosed.
⚠️ Concerns
- •Debt/assets is 36.68% ($1,251.527 million / $3,411.719 million), above the displayed 33.333% limit
- •Cash/assets is 0.24% and receivables-plus-cash/assets is 9.85%, but the debt failure remains binding
- •The filing reports debt-funded acquisitions, convertible notes and a total net leverage ratio of approximately 3.0x
- •The non-medical electrochem segment serves energy, military and environmental applications and needs qualitative review
- •Gross interest income is unavailable; re-screen after debt paydown or a newer filing
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-03; calculated 2026-07-15.
1,251.527 / 3,411.719
8.115 / 3,411.719
335.891 / 3,411.719
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.68%, above the examined 33.333% limit; liquidity/assets is 0.24% and receivables plus cash/assets is 9.85%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.68%, above the examined MSCI 33.33% limit; liquidity and receivables plus cash remain below the displayed limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 36.68%, above the examined Malaysia SAC financial limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based debt screen already fails.
Business-activity disclosure
Integer manufactures medical-device components and finished devices, with a non-medical electrochem segment serving energy, military and environmental applications. Medical-device manufacturing is generally permissible, while end use, customer mix and dual-use exposure require qualitative review.
Limitation: The filing does not allocate every product, customer or end use into a universal prohibited-activity numerator and does not separately disclose gross interest income.
Purification
Gross interest income is unavailable; no purification percentage is inferred from reported interest expense.
Inputs, assumptions and primary sources
- Amounts are USD millions from Integer's April 3, 2026 Form 10-Q.
- Debt uses the reported $1,251.527 million long-term debt balance; operating and financing leases are excluded.
- Cash and cash equivalents are $8.115 million; no separate interest-bearing securities balance is identified.
- Accounts receivable, net are $327.776 million and first-quarter sales are $439.580 million.
- Gross interest income is not separately disclosed; the filing reports $9.734 million of total interest expense.
- The filing reports a total net leverage ratio of approximately 3.0x and includes acquisition-related financing.
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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