SIE
Siemens AG
Is SIE Halal?
Industrial technology — financial ratios pass, but finance and end-use allocation remains incomplete.
What You Should Know
Siemens' H1 FY2026 debt, liquidity and receivables ratios remain below the examined limits and its core automation, infrastructure and mobility businesses are generally permissible; Siemens Financial Services, defense-adjacent work and customer end uses are not fully allocated in the filing.
⚠️ Concerns
- •Siemens Financial Services earns interest income
- •Minor defense exposure
Current quantitative Sharia screen
Based on H1 FY2026 half-year report figures for the period ended 2026-03-31; calculated 2026-07-14.
54,161 / 167,971
49,073 / 167,971
26,199 / 167,971
1,308 / 38,895
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 32.24%, liquidity/assets is 29.22%, receivables plus cash/assets is 15.60% and interest income is 3.36% of revenue; financial ratios pass, but prohibited-activity classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables plus cash/assets are below the examined MSCI total-assets limits, but business classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below the examined Malaysia limits; business classification remains incomplete and this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Incomplete
Historical market-cap inputs are not stored and finance, defense and end-use activities are not mapped to a scholar-approved market-cap convention.
Business-activity disclosure
Siemens supplies industrial automation, smart infrastructure, mobility, electrification and healthcare technology. These core businesses are generally productive, but its financial-services arm, defense-adjacent contracts and customer end uses require continuing qualitative review.
Limitation: The filing does not provide a universal prohibited-activity revenue numerator for finance, defense-adjacent work or customer end use.
Purification
Siemens discloses interest income, but ZakatInvest does not infer a scholar-approved purification percentage from the aggregate line.
Inputs, assumptions and primary sources
- Amounts are EUR millions from Siemens' H1 FY2026 report.
- Debt is short-term debt/current maturities of EUR 12,638 million plus long-term debt of EUR 41,523 million; other current and non-current financial assets are used conservatively as identifiable securities.
- Trade and other receivables are EUR 17,535 million, H1 revenue is EUR 38,895 million and disclosed interest income is EUR 1,308 million.
- The filing does not allocate revenue by prohibited end use, defense exposure or Siemens Financial Services contract type.
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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