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Annotated balance sheet · halal screening

Novartis AG

The full balance sheet for NVS, 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

Novartis AG — Q1 2026

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

Assets

Current Assets
Cash & cash equivalents①
$6,877
Marketable securities①
$100
Accounts receivable
$9,602
Inventories
$6,286
Other current assets
$3,742
Total current assets
$26,607
Non-current Assets
Property, plant & equipment, net②tangible
$12,238
Operating lease right-of-use assets②tangible
$0
Long-term marketable securities①
$2,431
Goodwill
$26,819
Intangible assets, net
$40,209
Other non-current assets
$4,981
Total non-current assets
$86,678
TOTAL ASSETS
$118,532
CHECK ①

Cash + Securities Ratio

under AAOIFI
3.3%
✓ PASS
Threshold≤ 30%Buffer26.7 percentage points to spare
Breach risk
Comfortable
0%← Pass zone | Fail zone →45%
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
$4,322
Other current liabilities
$17,357
Deferred revenue
$0
Commercial paper③interest-bearing
$0
Short-term debt③interest-bearing
$7,617
Total current liabilities
$29,296
Non-current Liabilities
Long-term debt③interest-bearing
$37,447
Other non-current liabilities
$4,017
Total non-current liabilities
$41,464
TOTAL LIABILITIES
$79,605
CHECK ③

Interest-bearing Debt Ratio

under AAOIFI
15.8%
✓ PASS
Threshold≤ 30%Buffer14.2 percentage points to spare
Breach risk
Comfortable
0%← Pass zone | Fail zone →45%
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
$56,053
Of which:
Product & services revenue
$56,053
Interest income④non-permissible
$0
CHECK ④

Non-permissible Income Ratio

under AAOIFI
0.0%
✓ PASS
Threshold≤ 5%Buffer5.0 percentage points to spare
Breach risk
Comfortable
0%← Pass zone | Fail zone →8%
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
Halal

Sector check passes: ✓ yes

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