The short answer
FICO is DOUBTFUL on ZakatInvest's qualitative assessment. Fair Isaac does not itself lend money or charge borrowers interest, but its Scores product is purpose-built to support credit and lending decisions. That creates a serious aiding-riba question for scholars who distinguish general-purpose software from infrastructure designed for interest-based finance. The current filing also shows failed debt and receivables-plus-cash screens.
This is a reproducible research screen, not a fatwa or investment recommendation. Scholars can differ on indirect facilitation, customer-use attribution and whether credit scoring is closer to a general service or direct assistance to riba.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
3,639.063 / 2,048.249
272.465 / 2,048.249
839.376 / 2,048.249
- Financial
- Fails
- Overall
- Fails
Debt is 177.67% and receivables plus cash are 40.98%, exceeding the examined FTSE total-assets limits. Liquidity is 13.30%; gross interest income is unavailable, and the debt and receivables failures are decisive.
- Financial
- Fails
- Overall
- Fails
Debt is 177.67% and receivables plus cash are 40.98%, above the examined MSCI total-assets limits. Liquidity is 13.30%. This is a calculation against the named method, not an index-membership claim; business and income allocation remain incomplete.
- Financial
- Fails
- Overall
- Fails
Debt is 177.67%, above the examined 33% Malaysia SAC financial limit; identifiable liquidity is 13.30%. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security; screened business revenue remains unavailable.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Fair Isaac sells the FICO Score and analytics software. Scores revenue is tied to credit-reporting and lending decisions, while Software includes fraud, decision management, customer analytics, SaaS and professional services. The company does not itself lend or charge borrowers interest, but its core credit-scoring infrastructure creates a material school-specific aiding-riba question.
Limitation: The filing disaggregates Scores and Software and identifies major consumer-reporting-agency customers, but does not quantify revenue by interest-based lending, insurance, debt collection, telecom, retail, government or other end use into a universal prohibited-revenue numerator.
Purification
Fair Isaac does not separately disclose gross interest income and does not provide a universal activity-level allocation for lender, insurance, collection or other customer use. No fixed purification percentage is prescribed here; readers should follow the scholar or methodology they use.
Inputs, assumptions and primary sources
- Debt uses $3.639 billion of total debt net of issuance costs: $265 million drawn on the revolving line and $3.400 billion of senior-note face value. Operating lease liabilities are not entered as conventional debt.
- Cash uses $219.419 million of cash and cash equivalents. The filing separately reports $53.046 million of marketable securities held under a non-qualified deferred-compensation plan; that balance is entered as interest-bearing securities without double-counting cash.
- Receivables use $619.957 million of short-term net accounts receivable. The filing separately reports $28.444 million of long-term receivables, which are not included in this current-receivable input.
- Revenue uses $1.204 billion for the six months ended March 31, 2026: $779.507 million from Scores and $424.129 million from Software and professional services.
- Interest income is not separately disclosed: the filing reports interest expense net of interest income and says the income is derived primarily from investing excess funds. The income input is therefore unavailable rather than estimated.
- Fair Isaac's Scores segment sells credit scores to consumer reporting agencies and other customers, while Software includes on-premises and SaaS analytics and professional services. The filing does not quantify a universal prohibited-revenue numerator for lender, insurance, collection, telecom or other customer use.
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.
Current quantitative screen
The calculations above use Fair Isaac's official filing (Form 10-Q for the six months ended March 31, 2026). Amounts are in USD millions and use total assets as the denominator so the inputs can be reproduced.
- Interest-bearing debt / assets: 177.67%, using $3.639 billion of debt against $2.048 billion of reported assets.
- Cash plus marketable securities / assets: 13.30%, using $219.4 million of cash and $53.0 million of marketable securities.
- Receivables plus cash / assets: 40.98%, using $620.0 million of short-term net receivables plus cash.
- Interest income / sales: unavailable. The filing nets interest income into interest expense and says it is derived primarily from investing excess funds; no numerator is invented.
FTSE Yasaar, MSCI total-assets and Malaysia SAC financial screens fail on debt; the examined FTSE and MSCI receivables-plus-cash measures also fail. Market-cap denominator methods are not calculated because ZakatInvest does not store a licensed, reproducible historical market-cap series.
What Fair Isaac does
Fair Isaac reports two segments. For the six months ended March 31, 2026, Scores generated $779.5 million and Software generated $424.1 million, for total revenue of $1.204 billion. Scores revenue was approximately 65% of the total. Software includes on-premises and SaaS products and professional services for fraud, decision management, customer analytics and other enterprise use cases.
The filing says the three major consumer reporting agencies—TransUnion, Equifax and Experian—collectively represented 58% of six-month revenue, with each contributing more than 10%. The company does not quantify a universal prohibited-revenue numerator by lender, insurance, debt collection, telecom, retail, government or other end use, so a precise “haram revenue percentage” would not be supported.
The aiding-riba question
The qualitative issue is narrower than whether FICO itself earns interest. Its Scores product helps consumer reporting agencies and lenders evaluate creditworthiness and make credit decisions. A strict view of “assisting in sin” may treat purpose-built credit-scoring infrastructure as impermissible or doubtful; a more lenient view may distinguish an analytics vendor from a lender and attribute the prohibited act only to the institution making the loan.
FICO's Software segment is more varied, but the filing does not break out revenue by use case. Fraud detection, customer analytics and telecom tools can be general services, while decision management, collection optimization and lender workflows raise the same downstream-use question. The company's own lack of an activity-level allocation is why this page retains a qualitative DOUBTFUL verdict instead of claiming a universal ruling.
Debt, liquidity and governance
- Debt: The company had $265 million drawn on its revolving facility and $3.4 billion of senior-note face value at March 31, 2026. The 2026 notes carry a 6.25% coupon, and the other senior notes also carry stated interest.
- Liquidity: Cash and cash equivalents were $219.4 million; marketable securities of $53.0 million were held under a non-qualified deferred-compensation plan.
- Data and model risk: Consumer privacy, fair-lending regulation, explainability, AI model governance and legal claims are material qualitative diligence topics for a credit-analytics company.
Verdict: DOUBTFUL
FICO is DOUBTFUL for Muslim investors on ZakatInvest's qualitative assessment. The company does not directly lend or charge interest, but its largest segment is credit scoring for lending decisions, creating a material aiding-riba concern. Independently, current total-assets debt is 177.67% and receivables plus cash are 40.98%, so the examined financial screens fail. No gross interest-income or universal prohibited-revenue percentage is fabricated.
Use the quantitative screen alongside the aiding-riba, customer-use, debt and data-governance analysis and follow the scholar or methodology you trust.
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