Annotated balance sheet · halal screening

Raymond James Financial, Inc.

The full balance sheet for RJF, 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

Raymond James Financial, Inc. — Q1 2026

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

Assets

Current Assets

Cash & cash equivalents①

$11,219

Marketable securities①

$8,235

Accounts receivable

$5,112

Inventories

Other current assets

Total current assets

$24,566

Non-current Assets

Property, plant & equipment, net②tangible

Operating lease right-of-use assets②tangible

Long-term marketable securities①

$56,727

Goodwill

$1,983

Intangible assets, net

Other non-current assets

$8,119

Total non-current assets

$66,829

TOTAL ASSETS

$91,944

CHECK ①

Cash + Securities Ratio

under AAOIFI

253.2%

✗ FAIL

Threshold≤ 30%Shortfall223.2 percentage points over the limit

Breach risk

Breached

0%← Pass zone | Fail zone →278%

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

Other current liabilities

$63,149

Deferred revenue

Commercial paper③interest-bearing

Short-term debt③interest-bearing

$1,842

Total current liabilities

$64,991

Non-current Liabilities

Long-term debt③interest-bearing

$3,521

Other non-current liabilities

$8,915

Total non-current liabilities

$12,436

TOTAL LIABILITIES

$79,334

CHECK ③

Interest-bearing Debt Ratio

under AAOIFI

17.8%

✓ PASS

Threshold≤ 30%Buffer12.2 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

$16,354

Of which:

Product & services revenue

$16,354

Interest income④non-permissible

$3,971

CHECK ④

Non-permissible Income Ratio

under AAOIFI

24.3%

✗ FAIL

Threshold≤ 5%Shortfall19.3 percentage points over the limit

Breach risk

Breached

0%← Pass zone | Fail zone →27%

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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