PRGS
Progress Software Corporation
Is PRGS Halal?
Application, infrastructure and developer software — generally permissible activity, but current debt/assets screen fails.
What You Should Know
Progress Software's May 31, 2026 Form 10-Q reports assets of $2,345.623 million, debt and convertible notes of $1,292.147 million, cash of $102.978 million, broad receivables of $220.645 million and quarterly revenue of $253.465 million. Debt/assets is 55.09%, liquidity/assets is 4.39%, receivables plus cash/assets is 13.80% and interest income and other, net is a conservative upper bound of 0.09% of revenue. Debt fails the examined limits; no universal prohibited-revenue numerator is disclosed.
⚠️ Concerns
- •Debt/assets is 55.09%, above examined 33.333% limits
- •Acquisition-related term debt and convertible notes
- •Large goodwill and acquired-intangible balances
- •Interest income and other, net is a conservative upper bound; no fixed purification percentage asserted
- •Enterprise and developer customer end uses require qualitative review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-05-31; calculated 2026-07-15.
1,292.147 / 2,345.623
102.978 / 2,345.623
323.623 / 2,345.623
0.233 / 253.465
- Financial
- Fails
- Overall
- Fails
Debt/assets is 55.09%, above the examined debt limit; liquidity/assets is 4.39%, receivables-plus-cash/assets is 13.80% and the income upper bound is 0.09%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 55.09%, above the examined MSCI total-assets debt limit; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 55.09%, above the examined Malaysia 33% limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the debt screen fails independently.
Business-activity disclosure
Progress provides application-development, infrastructure, monitoring and data-connectivity software. The software activity is generally permissible, while customer sectors and downstream use are not reduced to a universal prohibited-revenue numerator.
Limitation: The filing does not classify customer and product use by a universal Sharia category; activity remains qualitative.
Purification
Interest income and other, net is used as a conservative upper bound; ZakatInvest does not prescribe a scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Progress Software's May 31, 2026 Form 10-Q.
- Long-term debt of $850.000 million plus convertible senior notes of $442.147 million are included; operating lease liabilities are excluded.
- Cash and cash equivalents are $102.978 million; no separately identified interest-bearing securities balance is added.
- Accounts receivable of $125.209 million plus current and non-current unbilled receivables of $95.436 million are used; second-quarter revenue is $253.465 million.
- Interest income and other, net is $0.233 million and is used as a conservative upper bound rather than a fixed purification percentage.
- Application, infrastructure and developer software are generally permissible, but 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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