--- title: "Is Fortinet Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/fortinet-stock publisher: HalalWallet license: CC BY 4.0 verdict: halal verdict_label: Halal entity_type: stock ticker: FTNT exchange: NASDAQ last_reviewed: 2026-06-15 data_as_of: 2026-03-31 standards_disagree: false authorities_with_position: 2 authority_agreement: split --- # Is Fortinet Stock Halal? **Authority consensus:** Halal screening authorities disagree on Fortinet, Inc.: halal (HalalWallet (AAOIFI)); doubtful (Musaffa). **Verdict: Halal** (Generally permissible) Fortinet, Inc. (FTNT) passes our AAOIFI-based screen. Its core business is permissible, and (data as of 2026-03-31) interest-bearing debt is 0.5% of market cap and cash plus interest-bearing securities 3.1% — both inside the 30% AAOIFI thresholds. Ratios move with the share price, so check the data-as-of date; any incidental interest income should be purified. > HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide. ## How we read the evidence Fortinet, Inc. specializes in delivering extensive, unified, and automated cybersecurity solutions to a global clientele, encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. The screening question on this name turns on its revenue mix — review the latest 10-K segment disclosure to confirm. On AAOIFI financial ratios as of 2026-03-31: interest-bearing debt is 0.5% of market cap, cash plus interest-bearing securities 3.1%, and filing-verified impermissible income 2.4% (Interest income $162.3M on $6.80B total revenue (Fortinet, Inc. FY2025 (fiscal year ended 2025-12-31, Form 10-K)) = 2.4%…) — against 30%/30%/5% limits on our screen. Zoya's public page did not return a clear status when we checked (checked 2026-06-15). Musaffa rates it doubtful. U.S. Shariah ETFs SPUS and HLAL publish holdings on their own schedules — absence from a top-holdings list is not the same as a failed screen; verify current ETF holdings if index validation matters to you. Practical takeaway: business activity passes on our reading, ratios pass on dated figures above, and major retail screeners lean compliant — still re-check after each 10-K, purify incidental interest income from dividends, and avoid margin or options on the position. ## Business activity screen Result: Pass Fortinet, Inc. specializes in delivering extensive, unified, and automated cybersecurity solutions to a global clientele, encompassing the Americas, Europe, the Middle East, Africa, and the Asia Pacific regions. At its core, the company offers FortiGate, a powerful platform combining hardware and software licenses that provides a comprehensive suite of security and networking functionalities. This includes firewall capabilities, intrusion prevention, anti-malware defense, virtual private network Interest income $162.3M on $6.80B total revenue (Fortinet, Inc. FY2025 (fiscal year ended 2025-12-31, Form 10-K)) = 2.4% — under AAOIFI's 5% limit. ## Financial ratio screen (AAOIFI) Data as of: 2026-03-31 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 0.5% | < 30% | Pass | | Cash + interest-bearing securities / market cap | 3.1% | < 30% | Pass | | Impermissible income / total revenue | 2.4% | < 5% | Pass | Screening basis: AAOIFI Shariah Standard No. 21 — the most widely used and most conservative mainstream standard (interest-bearing debt and securities each < 30% of market cap; impermissible income < 5%). Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets. Full methodology: https://www.halalwallet.ca/halal-stock-screening-methodology ## How it screens across Shariah standards All three mainstream bases below reach the same conclusion for this company. | Standard | Debt | Cash & interest securities | Limit / basis | Result | |---|---|---|---|---| | AAOIFI (our standard) | 0.5% | 3.1% | < 30% of market cap | Pass | | Dow Jones Islamic / S&P Shariah threshold | 0.5% | 3.1% | < 33% of market cap | Pass | | MSCI Islamic / FTSE Yasaar basis | 5.0% | 33.3% | < 33.33% of total assets | Pass | HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-03-31) — not the providers' licensed index determinations, which can differ. Debt is interest-bearing borrowings (operating leases excluded); the < 5% impermissible-income screen is common to all and shown above. Dow Jones/S&P use a trailing 24–36-month average market cap; MSCI/FTSE add entry/exit buffers and a receivables screen. ## Scholars' and screeners' positions - **Musaffa**: Public page rates the stock doubtful (checked 2026-06-15). ([source](https://musaffa.com/stock/FTNT/)) - **HalalWallet AAOIFI screen**: Rates Fortinet, Inc. (FTNT) Shariah-compliant under AAOIFI: the core business is permissible and every financial ratio is within limits — interest-bearing debt 0.5% of market cap (limit 30%), cash plus interest-bearing securities 3.1% (limit 30%), impermissible income 2.4% of revenue (limit 5%) on 2026-03-31 figures. ([source](/halal-stock-screening-methodology)) ## Purification Even Shariah-compliant companies typically earn a small amount of incidental interest on corporate cash. The standard practice is to purify: donate the proportion of your dividends (and, per some scholars, capital gains) attributable to impermissible income. Our purification calculator automates the math from your holding and the company's disclosed figures. ## Sources - FTNT latest quarterly filing (balance sheet 2026-03-31) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Fortinet%2C%20Inc.&type=10-Q) - AAOIFI Shariah Standards (https://aaoifi.com) - Fortinet, Inc. SEC EDGAR filings (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Fortinet%2C%20Inc.&type=10-K) - Zoya — FTNT Shariah compliance (https://zoya.finance/stocks/ftnt) - Musaffa — FTNT (https://musaffa.com/stock/FTNT/) - SPUS Schedule of Investments reference (2026-02-28) (https://www.sec.gov/Archives/edgar/data/1742912/000200032426001717/spus-soi_022826.htm) - HLAL holdings reference (2026-06-05) (https://stockanalysis.com/etf/hlal/holdings/) ## Frequently asked questions ### Is Fortinet, Inc. (FTNT) stock halal? Yes, under our AAOIFI-based methodology Fortinet, Inc. passes the business-activity and financial-ratio screens as shown on this page (data as of 2026-03-31). Check the dated ratio table before investing; ratios move with the share price. ### Does Fortinet, Inc. pass the AAOIFI financial ratio screen? As of 2026-03-31: interest-bearing debt is 0.5% of market cap (limit < 30%); cash plus interest-bearing securities is 3.1% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is Fortinet, Inc. held in halal ETFs like SPUS or HLAL? Check the scholar/screener positions and sources on this page for current SPUS, HLAL, Zoya, and Musaffa statuses. ### Do I need to purify dividends from Fortinet, Inc.? Yes, in most cases. Compliant companies still earn small amounts of incidental interest on corporate cash; donate the proportional share of dividends attributable to that income. ## Related verdicts - [Is Apple Stock Halal?](https://www.halalwallet.ca/is-it-halal/apple-stock.md) — Halal - [Is Meta Platforms Stock Halal?](https://www.halalwallet.ca/is-it-halal/meta-platforms-stock.md) — Halal - [Is Microsoft Stock Halal?](https://www.halalwallet.ca/is-it-halal/microsoft-stock.md) — Halal - [Is NVIDIA Stock Halal?](https://www.halalwallet.ca/is-it-halal/nvidia-stock.md) — Halal - [Is PepsiCo Stock Halal?](https://www.halalwallet.ca/is-it-halal/pepsico-stock.md) — Halal - [Is Salesforce Stock Halal?](https://www.halalwallet.ca/is-it-halal/salesforce-stock.md) — Halal --- Cite as: According to HalalWallet (https://www.halalwallet.ca, retrieved 2026-07-30). - Full canonical answer feed (JSON): https://www.halalwallet.ca/api/llm-feed.json - Site guide for AI systems: https://www.halalwallet.ca/llms.txt - Markdown mirror directory: https://www.halalwallet.ca/index.md