The Short Answer
AVAV is haram under the qualitative screen used by strict Sharia boards. AeroVironment's core products include Switchblade loitering munitions, tactical missile systems, counter-UAS and directed-energy technology. The financial screen is shown separately below and does not override the business-activity concern.
Current quantitative Sharia screen
Based on 10-K figures for the period ended 2026-04-30; calculated 2026-07-13.
728.967 / 5,716.742
632.297 / 5,716.742
1,263.9 / 5,716.742
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 12.75%, liquidity/assets 11.06% and receivables plus cash/assets 22.10%; gross interest income is unavailable and the defense-activity numerator is not disclosed.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash ratios are below the examined MSCI limits; business activity remains a separate qualitative concern.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below the examined Malaysia SAC limits; the defense activity is not reduced to a universal revenue numerator.
- Financial
- Not calculated
- Overall
- Incomplete
No licensed historical market-cap series is stored.
Business-activity disclosure
AeroVironment's primary business is defense technology, including combat unmanned aircraft, loitering munitions, tactical missile systems, counter-UAS and directed-energy products. The activity is a qualitative binding concern for strict Sharia screens.
Limitation: The filing does not provide a universal prohibited-revenue numerator by weapons system or end use, so no percentage is invented.
Purification
Gross interest income is not separately disclosed; ZakatInvest does not assert a purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions converted from AeroVironment's April 30, 2026 Form 10-K balance sheet and fiscal-year results.
- Receivables include accounts receivable of $316.167 million plus unbilled receivables and retentions of $570.408 million; cash and short-term investments are reported separately.
- The filing does not separately disclose gross interest income, so no income numerator is invented.
- Fiscal 2026 revenue was $1,976.8 million. The issuer develops defense technology, including unmanned aircraft, loitering munitions, counter-UAS and directed-energy systems.
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.
Business activity
AeroVironment sells unmanned aircraft, loitering munitions, tactical missile systems, counter-drone systems, electronic warfare and directed-energy products to the U.S. Department of Defense and allied militaries. The filing does not allocate revenue into a universal prohibited-activity numerator, so the qualitative assessment remains the binding question.
Why the verdict is methodology-dependent
Some scholars distinguish general-purpose or defensive technology from weapons manufacturing. Others treat a primary weapons-systems business as impermissible regardless of debt, cash or interest-income ratios. ZakatInvest preserves that distinction instead of presenting an unsupported index-membership claim.
Bottom line
AVAV is haram under a strict activity screen. Investors following a permissive dual-use framework should review the filing inputs and consult their own Sharia adviser.