Annotated balance sheet · halal screening

Morgan Stanley

The full balance sheet for MS, with the line items that feed each halal check marked and explained inline. Read it like a financial report that grades itself.

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Annotated balance sheet · halal screening

Morgan Stanley — Q1 2026

Source: SEC Form 10-Q filed 2026-03-31 · via FMP · USD millions · Open filing

Assets

Current Assets

Cash & cash equivalents①

$133,529

Marketable securities①

$526,211

Accounts receivable

$132,599

Inventories

Other current assets

$283,450

Total current assets

$1,075,789

Non-current Assets

Property, plant & equipment, net②tangible

Operating lease right-of-use assets②tangible

Long-term marketable securities①

$460,277

Goodwill

$17,105

Intangible assets, net

$5,960

Other non-current assets

$28,287

Total non-current assets

$511,629

TOTAL ASSETS

$1,581,418

CHECK ①

Cash + Securities Ratio

under AAOIFI

311.1%

✗ FAIL

Threshold≤ 30%Shortfall281.1 percentage points over the limit

Breach risk

Breached

0%← Pass zone | Fail zone →342%

Caps how much of a company's value can be held in interest-bearing financial assets — too much suggests the business is more about earning interest than producing real goods/services.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.5.1

Liabilities

Current Liabilities

Accounts payable

$259,289

Other current liabilities

$356,776

Deferred revenue

Commercial paper③interest-bearing

Short-term debt③interest-bearing

$22,666

Total current liabilities

$638,731

Non-current Liabilities

Long-term debt③interest-bearing

$371,568

Other non-current liabilities

$427,971

Total non-current liabilities

$799,539

TOTAL LIABILITIES

$1,466,034

CHECK ③

Interest-bearing Debt Ratio

under AAOIFI

109.5%

✗ FAIL

Threshold≤ 30%Shortfall79.5 percentage points over the limit

Breach risk

Breached

0%← Pass zone | Fail zone →120%

Caps how much of a company's value comes from interest-bearing loans. Companies that rely heavily on riba (interest-based debt) fail this check even if their business itself is permissible.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.4.2

Income Statement Excerpt (trailing 12 months)

Total revenue

$120,221

Of which:

Product & services revenue

$120,221

Interest income④non-permissible

$60,588

CHECK ④

Non-permissible Income Ratio

under AAOIFI

50.4%

✗ FAIL

Threshold≤ 5%Shortfall45.4 percentage points over the limit

Breach risk

Breached

0%← Pass zone | Fail zone →55%

Caps what fraction of company revenue can come from non-permissible sources. If your stock passes but interest income is high, you'd 'purify' your share of that income through charity.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.6

Final verdict — under AAOIFI Standard

Not halal

Sector check passes: ✗ no

Want to verify against the primary document? Open full SEC filing

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