The Short Answer
Amkor stock (AMKR) is qualitatively halal and its known financial ratios pass, but the overall result is incomplete. The March 31, 2026 filing does not provide a universal prohibited-revenue numerator.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
1,414.194 / 8,298.634
1,848.5 / 8,298.634
2,409.062 / 8,298.634
16.22 / 1,684.701
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 17.04%, liquidity/assets is 22.27%, receivables-plus-cash/assets is 29.03% and disclosed interest income is 0.96%; known ratios pass, while activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Known financial ratios pass; this is not an index-membership claim and activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Known debt, liquidity and disclosed income ratios pass; this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored.
Business-activity disclosure
Amkor provides outsourced semiconductor packaging and test services. The manufacturing-service activity is generally permissible, while customer and end-use revenue is not reduced to a universal prohibited-revenue numerator.
Limitation: The filing does not classify every customer end use by a universal Sharia category; activity remains qualitative.
Purification
Amkor discloses $16.220 million of interest income for the quarter, but ZakatInvest does not prescribe a scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Amkor's March 31, 2026 Form 10-Q.
- Debt includes $157.038 million of short-term borrowings and current portion plus $1,257.156 million of long-term debt; operating lease liabilities are excluded.
- Cash is $1,121.183 million and short-term investments are $727.317 million in cash equivalents, certificates, commercial paper and bonds.
- Net accounts receivable is $1,287.879 million and first-quarter net sales are $1,684.701 million.
- The filing reports $16.220 million of interest income for the quarter; no fixed purification percentage is prescribed.
- Semiconductor packaging and test services are generally permissible, while communications, computing, automotive, consumer and defense-adjacent end uses remain qualitative.
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.
Providing semiconductor assembly and test services is generally permissible. Amkor carries meaningful debt and short-term investments, while disclosed interest income is 0.96% of quarterly revenue. No universal prohibited-revenue numerator is disclosed.
Sharia Screening Methodology
Islamic scholars use several criteria to screen stocks:
- Business activity screen: Is the company's primary business halal?
- Debt ratio: Total debt / market cap must be under 33%
- Interest income: Interest income / total revenue must be under 5%
- Haram revenue: Revenue from haram sources must be under 5%
- Receivables ratio: Total receivables / total assets must be under 49–70% (varies by board)
Amkor's Business Activity
Amkor packages and tests chips on behalf of semiconductor makers. Its services include:
- Advanced packaging: Flip-chip, wafer-level, and system-in-package
- Mainstream packaging: Wirebond and traditional assembly
- Test services: Final and wafer test for integrated circuits
Providing these assembly and test services is permissible at the activity level — it is a general-purpose industrial-technology service.
Concerns to Be Aware Of
1. Debt Ratio
As a capital-intensive manufacturer, Amkor carries interest-bearing term debt and notes to fund facilities and equipment. This is the primary Sharia-screening consideration — verify the debt-to-market-cap ratio carefully against the 33% threshold at the time of investment.
2. Customer Concentration & Cyclicality
A large share of revenue comes from a concentrated set of major customers, and demand is cyclical with the chip industry. These are business and valuation considerations rather than Sharia screen concerns.
3. Interest Income on Cash
Amkor holds cash that generates interest income. Verify the interest-income-to-revenue ratio against the 5% threshold and purify the corresponding portion of returns.
Filing-Based Ratios (March 31, 2026)
Based on Amkor's Form 10-Q:
- Debt / Assets: 17.04%
- Cash + interest-bearing securities / Assets: 22.27%
- Receivables + cash / Assets: 29.03%
- Disclosed interest income / Revenue: 0.96%
Methodology Interpretation
The known FTSE, MSCI and Malaysia financial ratios pass. Activity and prohibited-revenue classification remain incomplete across communications, computing, automotive and consumer end markets; this is not a universal certification.
Bottom Line
Amkor (AMKR) has a generally permissible packaging-and-test business and passes the known financial ratios in this filing, but the overall result remains incomplete because activity and prohibited-revenue classification are not universal quantitative measures. Investors should apply their chosen methodology and review debt, investments and customer end uses.
For Muslim investors seeking semiconductor exposure, AMKR sits alongside other halal-screened names like Kulicke and Soffa (KLIC) and ASE-style assembly peers.
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