Is PAGS halal?
PagSeguro Digital Ltd.
Not halal
PagSeguro Digital Ltd. did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NYSE
Price
11
Day
-1.08%
Market cap
$3.07B
Industry
Software - Infrastructure
Sector
Technology
What the company does
PagSeguro (Brazil) provides payment terminals for small merchants and a digital bank (PagBank): card acceptance, accounts, loans, investments. Revenue comes from payment fees and financial services.
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 $8.85B ÷ 36-month average market cap $2.92B = 303.4%
303.4%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $1.20B ÷ 36-month average market cap $2.92B = 41.2%
41.2%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $2.31B ÷ annual revenue $4.08B (2025) = 56.8%
56.8%
Fail
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: $3.07B.
For information (AAOIFI 3/1 note): cash + receivables are 80.8% 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
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 1 superinvestors · Average reported price: $9.05
All superinvestor portfoliosHalal stocks in the same industry
The largest halal stocks in Software - Infrastructure — 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?
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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.