Is OPXS halal?
Optex Systems Holdings, Inc.
Doubtful
No clear verdict is possible for Optex Systems Holdings, Inc. — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 15 October 2026
Exchange
NASDAQ
Price
9.82
Day
-1.41%
Market cap
$69.9M
Industry
Aerospace & Defense
Sector
Industrials
What the company does
Optex Systems makes military optics: periscopes for tanks/armored vehicles, sighting systems and Applied Optics Center laser-protection filters (mostly for the US Army and defense primes). Its money comes from defense contracts.
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
Activity needs clarification: Aerospace & Defense
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $0 ÷ 36-month average market cap $67.40M = 0.0%
0.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $6.17M ÷ 36-month average market cap $67.40M = 9.2%
9.2%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $23K ÷ annual revenue $41.34M (2025) = 0.1%
0.1%
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: $69.95M.
For information (AAOIFI 3/1 note): cash + receivables are 32.6% 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
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- 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?
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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.