Is FTNT halal?
Fortinet, Inc.
Halal
Fortinet, Inc. passed every check under AAOIFI Shariah standard No. 21: no prohibited business activity, and all three financial ratios are within limits.
Checked: 14 October 2026
Exchange
NASDAQ
Price
169.13
Day
-7.03%
Market cap
$137.42B
Industry
Software - Infrastructure
Sector
Technology
What the company does
Fortinet is a cybersecurity company: FortiGate firewalls (on its own chip), SD-WAN and SASE cloud security. Its money comes from appliance sales and subscriptions/services; customers are enterprises and service providers.
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $496.90M ÷ 36-month average market cap $65.80B = 0.8%
0.8%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $4.47B ÷ 36-month average market cap $65.80B = 6.8%
6.8%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $162.30M ÷ annual revenue $6.80B (2025) = 2.4%
2.4%
Pass
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $137.42B.
For information (AAOIFI 3/1 note): cash + receivables are 50.9% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- 0.17% weight · #104 of 503
- Among halal stocks
- 0.20% · #72 of 1455
- Held by funds
- SPUS 0.30% · SPTE 0.28%
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $153.62
- Terry SmithFundsmith$557.6M4.1%
Halal stocks in the same industry
The largest halal stocks in Software - Infrastructure — for comparison.
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Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.