The short answer
Garmin is HALAL in ZakatInvest's qualitative activity classification, but its current asset-based financial result is FAIL. Garmin has no reported interest-bearing debt, but cash and marketable securities are 39.38% of assets, above the 33% liquidity limits used in the examined FTSE Yasaar, MSCI and Malaysia calculations.
This is a reproducible research screen, not a fatwa or investment recommendation. Readers should apply their school's principles and consult a qualified scholar for a binding ruling.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-28; calculated 2026-07-13.
0 / 10,952.438
4,313.273 / 10,952.438
3,230.875 / 10,952.438
35.974 / 1,753.489
- Financial
- Fails
- Overall
- Fails
Debt is 0.00%, but liquidity is 39.38%, above the examined 33.333% FTSE asset limit; receivables plus cash are 29.50% and disclosed interest income is 2.05%.
- Financial
- Fails
- Overall
- Fails
Debt is 0.00%, but liquidity is 39.38%, above the examined MSCI 33.33% total-assets limit; receivables plus cash are 29.50%.
- Financial
- Fails
- Overall
- Fails
Debt is 0.00% but liquidity is 39.38%, above the examined 33% Malaysia SAC financial limit.
- 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
Garmin designs GPS navigation, wearable, aviation, marine, fitness, outdoor and automotive OEM products. Consumer electronics, wearables, avionics and marine electronics are generally permissible at the activity level.
Limitation: The filing does not allocate a universal prohibited-revenue numerator by product use, content, customer or certification; no exact prohibited-revenue percentage is asserted.
Purification
Garmin discloses interest income but does not prescribe a scholar-approved purification percentage. Readers should follow the qualified scholar or methodology they use rather than applying an invented fixed rate.
Inputs, assumptions and primary sources
- Inputs use Garmin's March 28, 2026 Form 10-Q; amounts are USD millions and revenue and interest income are for the 13-week period.
- Garmin reports no interest-bearing debt on the condensed balance sheet; operating lease liabilities are not added.
- Interest-bearing securities use current marketable securities of $411.034 million plus noncurrent marketable securities of $1,612.323 million.
- Receivables use $940.959 million of net accounts receivable; inventories and other current assets are not added.
- Quarterly revenue is $1,753.489 million and disclosed interest income is $35.974 million; the screen does not infer a fixed purification rate.
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 use Garmin's official filing at the SEC (first-quarter 2026 Form 10-Q). Amounts are in USD millions and revenue and interest income are for the 13-week period.
- Interest-bearing debt / assets: 0.00%.
- Cash plus marketable securities / assets: 39.38%, using $2,289.916 million of cash, $411.034 million of current marketable securities and $1,612.323 million of noncurrent marketable securities.
- Receivables plus cash / assets: 29.50%, using $940.959 million of net receivables plus cash.
- Disclosed interest income / revenue: 2.05%, using $35.974 million of interest income and $1,753.489 million of revenue.
The three examined asset-based methods fail on liquidity. Market-cap denominator methods are not calculated because ZakatInvest does not store a licensed, reproducible historical market-cap series.
Garmin's business activity
Garmin designs GPS navigation, wearable, fitness, outdoor, aviation, marine and automotive OEM products. Consumer electronics, wearables, avionics and marine electronics are generally permissible at the activity level. The filing does not provide a universal prohibited-revenue numerator by product use or customer, so the quantitative business-activity field remains incomplete.
Qualitative considerations
- General-purpose devices: recreational, aviation, marine and automotive customers may apply different downstream-use standards.
- Investment portfolio: Garmin's substantial marketable-securities portfolio and investment policy warrant ongoing review of instrument composition.
- Product diligence: safety, privacy, navigation reliability and supply-chain issues remain broader ethical topics.
Purification and the verdict
Garmin discloses interest income but does not prescribe a scholar-approved purification percentage. Follow the qualified scholar or methodology you use rather than applying an invented fixed rate.
GRMN is HALAL in ZakatInvest's qualitative classification, but FAIL on the current examined asset-based financial screens because liquidity is 39.38% of assets.
Use the quantitative screen alongside your school's principles and consult a qualified scholar before investing.
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