Is ZS halal?
Zscaler, Inc.
Halal
Zscaler, 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
207.38
Day
-5.92%
Market cap
$36.63B
Industry
Software - Infrastructure
Sector
Technology
What the company does
Zscaler provides cloud security (Zero Trust): employees reach the internet and corporate apps through Zscaler's cloud instead of a traditional firewall. Its money comes from enterprise subscriptions.
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 $1.70B ÷ 36-month average market cap $31.76B = 5.3%
5.3%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $3.47B ÷ 36-month average market cap $31.76B = 10.9%
10.9%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $136.13M ÷ annual revenue $3.35B (2026) = 4.1%
4.1%
Pass
Figures from the company's filings (2026-07-31), 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: $36.63B.
For information (AAOIFI 3/1 note): cash + receivables are 58.8% of total assets (2026-07-31). 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
- Among halal stocks
- 0.05% · #203 of 1454
- 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: $141.15
- Dennis HongShawSpring Partners$23.6M10.2%
Exited this quarter: Chase Coleman
All superinvestor portfoliosHalal 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.