The Short Answer
Plexus stock (PLXS) is generally considered halal for Muslim investors, subject to the balance-sheet ratios. Plexus Corp. is a contract electronics manufacturing and engineering-services company that designs, manufactures, and provides aftermarket services for complex products in the healthcare/life-sciences, industrial, and aerospace/defense sectors. Providing design and manufacturing services is a clearly permissible activity, so the business-activity screen passes cleanly.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-04; calculated 2026-07-15.
187 / 3,360.969
303.133 / 3,360.969
1,005.472 / 3,360.969
0.812 / 1,163.757
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 5.56%, liquidity/assets is 9.02%, receivables plus cash/assets is 29.92% and interest income/revenue is 0.07%, below the examined limits; activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 5.56%, liquidity/assets is 9.02% and receivables plus cash/assets is 29.92%, below the examined MSCI limits; activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and liquidity/assets are below the examined Malaysia SAC limits; activity remains incomplete and this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored, so market-cap denominator methods are not estimated from a current spot price.
Business-activity disclosure
Plexus designs and manufactures complex electronics and provides engineering and aftermarket services for healthcare, life-sciences, industrial and aerospace/defense customers. Contract manufacturing is generally permissible, while customer end use and defense-adjacent work require continuing review.
Limitation: The filing does not allocate every customer, program or end use into a universal prohibited-activity numerator.
Purification
Plexus discloses $0.812 million of investment income interest for the latest quarter, but no scholar-approved purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are USD millions from Plexus's April 4, 2026 Form 10-Q and rounded to the nearest million where appropriate.
- Debt uses the $187 million debt-instrument carrying amount; operating leases are excluded.
- Cash and cash equivalents are $303.133 million; no separate interest-bearing securities balance is added from the extracted facts.
- Accounts receivable, net is $702.339 million and the latest three-month revenue period reports $1,163.757 million.
- Investment income interest is $0.812 million for the latest three-month period; the filing does not provide a universal prohibited-revenue numerator for customer end uses.
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.
The latest Form 10-Q (period ended April 4, 2026) reports $187 million of debt, $303.133 million of cash and $3,360.969 million of assets. The displayed asset-based debt, liquidity and receivables-plus-cash tests pass; the business-activity review remains qualitative.
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)
What Plexus Does
Plexus Corp. (headquartered in Neenah, Wisconsin) provides end-to-end electronics services:
- Design and development: Engineering complex electronic products.
- Manufacturing: Building products for healthcare/life-sciences, industrial, and aerospace/defense customers.
- Aftermarket services: Repair, refurbishment, and supply-chain support.
Providing design and manufacturing services is a clearly permissible activity, so the business-activity screen passes.
Why It Passes (and What to Check)
1. Permissible Core Business
Plexus's revenue comes from designing and manufacturing electronic products — a clearly permissible activity. There is no haram product line.
2. Receivables Ratio (Screen to Check)
Contract manufacturers carry large receivables and inventory, so the receivables ratio (total receivables / total assets) is the screen most worth confirming against the board's threshold using the latest filings.
3. Conservative Debt and Interest Income
Plexus typically carries modest debt, so the total-debt-to-market-cap ratio is generally within the 33% threshold; still, confirm it against filings. Incidental interest income on cash should be checked against the 5% threshold and the corresponding portion of returns purified.
Current Quantitative Screen (April 4, 2026)
- Debt / assets: 5.56% — $187 million / $3,360.969 million
- Cash / assets: 9.02% — $303.133 million / $3,360.969 million
- Receivables + cash / assets: 29.92% — $1,005.472 million / $3,360.969 million
- Interest income / revenue: 0.07% — $0.812 million / $1,163.757 million
These figures pass the displayed FTSE Yasaar asset-based limits. Market-cap screens and a complete prohibited-activity review are not calculated here, so this is a reproducible research screen rather than an outside-agency classification.
What About Purification?
Purify the portion of returns attributable to interest income earned on Plexus's cash balances — donating that share of gains to charity.
How to Read the Result
The quantitative figures support a HALAL research result under the displayed asset-based tests. Plexus's manufacturing-services business is qualitatively permissible on the information reviewed; investors should separately consider aerospace/defense exposure and purify disclosed interest income.
Bottom Line
Plexus (PLXS) is generally halal for Muslim investors, subject to the balance-sheet ratios. The electronics-manufacturing-services business is clearly permissible, and the conservative balance sheet keeps the debt screen comfortable. Confirm the receivables ratio against the latest filings — the screen most worth checking for a contract manufacturer — purify the interest income, and re-screen periodically. A portion of revenue serves aerospace/defense customers, which some stricter investors weigh separately.
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