The Short Answer
OTEX is doubtful under the current filing-based screen. The enterprise-software business is generally permissible, but March 2026 debt/assets is above the examined asset-based limits.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
6,210.508 / 13,325.101
1,254.144 / 13,325.101
1,874.886 / 13,325.101
10.916 / 1,282.504
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.60%, above the examined 33.333% limit; liquidity/assets is 9.41%, receivables plus cash/assets 14.08% and interest income/revenue is 0.85%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.60%, above the examined MSCI 33.33% limit; other identified ratios pass.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.60%, above the examined Malaysia SAC 33% limit.
- Financial
- Not calculated
- Overall
- Incomplete
No licensed historical market-cap series is stored.
Business-activity disclosure
OpenText provides enterprise content, business-network, cybersecurity, IT-operations, analytics and developer software. The activity is generally permissible, but customer mix and the filing's lack of a prohibited-revenue numerator keep the qualitative screen incomplete.
Limitation: The filing does not allocate revenue into a universal prohibited-activity numerator by customer or downstream use.
Purification
The filing discloses $10.916 million of interest income; ZakatInvest does not assert a fixed purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from OpenText's March 31, 2026 Form 10-Q.
- Total debt outstanding is $6,210.508 million, including $35.850 million current and $6,174.658 million non-current debt; cash is $1,254.144 million.
- Trade receivables are $620.742 million; contract assets are separately disclosed and not added to avoid double counting.
- Quarterly revenue is $1,282.504 million and disclosed interest income is $10.916 million.
- OpenText's content, business-network, cybersecurity, ITOM, analytics and developer software are generally permissible activities, but customer use and leverage remain material concerns.
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
OpenText sells content management, business-network, cybersecurity, IT operations, analytics and developer tools. Those are generally permissible technology activities. The filing does not provide a universal prohibited-revenue numerator by customer or downstream use.
Why leverage matters
Acquisition financing leaves debt/assets at 46.60% in the March 31, 2026 filing. Market-cap methodologies can produce a different result, but ZakatInvest does not substitute an unlicensed market-cap series for the reproducible asset calculation.
Bottom line
OTEX is doubtful while the filing-based debt screen fails. Recheck the next filing and apply the methodology followed by your adviser.