Is MTLS halal?
Materialise NV
Not halal
Materialise NV did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
8
Day
-1.48%
Market cap
$477.3M
Industry
Software - Application
Sector
Technology
What the company does
Materialise (Belgium) makes 3D-printing software (Magics) and provides 3D-printing services: medical implants, surgical guides and industrial prototypes. Money comes from software licenses and print orders.
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 $66.62M ÷ 36-month average market cap $339.70M = 19.6%
19.6%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $149.70M ÷ 36-month average market cap $339.70M = 44.1%
44.1%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $3.18M ÷ annual revenue $299.56M (2025) = 1.1%
1.1%
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: $477.28M.
For information (AAOIFI 3/1 note): cash + receivables are 45.5% 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
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Software - Application — for comparison.
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
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.