Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Salesforce, Inc. (CRM) Halal?

PASS

Salesforce, Inc. · NYSE: CRM · Technology

The short answer

Yes — Salesforce (CRM) passes this Shariah stock screen. Its business is enterprise cloud CRM software (Agentforce 360 Platform, Sales/Service/Marketing/Commerce clouds, Slack, Tableau, MuleSoft, Informatica), with no weapons, lending, conventional finance, alcohol or gambling segments — the only government-adjacent exposure is public-sector cloud software sales, which is SaaS, not weapons. The financial gates also pass: total debt of $39,288M (Q2 FY2027 10-Q, after a $25B March 2026 debt issuance to fund an accelerated share repurchase) is about 20.17% of its ~$194.80B market cap ($236.69, October 1, 2026), below the ~33% ceiling; Other income of $172M — primarily interest income on marketable securities per the FY2026 10-K — is about 0.41% of FY2026 revenue ($41,525M), or 2.86% including mark-to-market gains on strategic equity investments (not interest), below the 5% ceiling. Third-party coverage: Musaffa screens CRM as halal and ShariaPortfolio rates it Shariah Compliant (passing 3/5 of its standards); Zoya's public page text is contradictory, so its rating is reported as inconclusive. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Salesforce, Inc. (NYSE: CRM), founded 1999 and headquartered in San Francisco, is a global leader in customer relationship management technology. Per its FY2026 10-K business description, the deeply unified Agentforce 360 Platform connects customer data with integrated AI across systems, apps and devices — Agentforce is a layer of AI agents that respond to inputs, make decisions and take action autonomously across sales, service, marketing and commerce. FY2026 revenue of $41,525M was ~95% subscription and support software ($39,388M) plus professional services ($2,137M). The product family spans Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Slack, Tableau, MuleSoft, Data Cloud and the Informatica data-management business acquired in FY2026. Business-screen implication (factual): no weapons, lending, conventional finance, alcohol or gambling segments; the only government-adjacent exposure is public-sector cloud software sales (Public Sector Industry Cloud ARR exceeded $2B in Q1 FY27) — SaaS sold to governments, not weapons. Salesforce Ventures holds strategic equity stakes but is not a finance business. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Salesforce's Q2 FY2027 10-Q (quarter ended July 31, 2026; SEC CIK 1108524), total debt was $39,288M — Debt, current $0M + Noncurrent debt $39,288M. Against a market cap of about $194.80B (823.0M shares × $236.69, October 1, 2026), debt ÷ market cap is about 20.17% — below the ~33% ceiling. Debt jumped from $10,439M (January 31, 2026) because Salesforce issued $25B in new debt in March 2026 to fund a $25B accelerated share repurchase (treasury stock rose from $32,228M to $55,028M in the same quarter). Cash and cash equivalents of $8,310M plus marketable securities of $3,093M ($11,403M combined) is about 5.85% of market cap. The debt gate passes. Facts only.

Gate 3 — Non-compliant income: PASS

Salesforce's FY2026 10-K (filed March 2026; fiscal year ended January 31, 2026) reports Other income of $172M — which the MD&A says 'primarily consists of interest income on our marketable securities portfolio, which is partially offset by interest expense on our debt as well as our finance leases' — against FY2026 revenue of $41,525M: about 0.41% of revenue. The broader figure adds Gains (losses) on strategic investments, net of $1,017M (mark-to-market and observable price adjustments on Salesforce Ventures equity stakes — investment gains, not interest) for a combined $1,189M — about 2.86% of revenue. Both are below the 5% non-compliant income ceiling. The income gate passes. Facts only.

Key figures used

Frequently asked questions

What does Salesforce do?

Salesforce, Inc. (NYSE: CRM), headquartered in San Francisco and founded in 1999, is a global leader in customer relationship management technology. Per its FY2026 10-K business description, its deeply unified Agentforce 360 Platform connects customer data with integrated AI across systems, apps and devices — Agentforce is a layer of AI agents that can respond to inputs, make decisions and take action autonomously across sales, service, marketing and commerce. Revenue is 95% subscription and support software ($39,388M of $41,525M FY2026 revenue) plus professional services ($2,137M). Its product family includes Sales Cloud, Service Cloud, Marketing Cloud, Commerce Cloud, Slack, Tableau, MuleSoft, Data Cloud and the Informatica data-management business acquired in FY2026.

Why does Salesforce pass this Shariah stock screen?

CRM passes all three gates. Gate 1 (business activity): revenue is enterprise cloud software — no weapons, no lending, no conventional finance, alcohol or gambling segments; the only government-adjacent exposure is public-sector cloud software sales (e.g. Public Sector Industry Cloud ARR exceeded $2 billion in Q1 FY27), which is SaaS, not weapons. Gate 2 (debt): $39,288M total debt is about 20.17% of the ~$194.80B market cap, below the ~33% ceiling. Gate 3 (income): Other income of $172M (primarily interest income on marketable securities, per the 10-K) is about 0.41% of FY2026 revenue of $41,525M; including mark-to-market gains on strategic equity investments of $1,017M (not interest), the broadest figure is about 2.86% — both below the 5% ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is Salesforce's interest-bearing debt ratio?

Per Salesforce's Q2 FY2027 10-Q (quarter ended July 31, 2026; SEC CIK 1108524), total debt was $39,288M — Debt, current $0M + Noncurrent debt $39,288M. Against a market cap of about $194.80B (823.0M shares × $236.69, October 1, 2026), debt ÷ market cap is about 20.17% — below the ~33% ceiling. Note: debt jumped from $10,439M (January 31, 2026) because Salesforce issued $25B in new debt in March 2026 to fund a $25B accelerated share repurchase — treasury stock rose from $32,228M to $55,028M in the same quarter. Cash and cash equivalents of $8,310M plus marketable securities of $3,093M ($11,403M combined) is about 5.85% of market cap. Facts only.

What is Salesforce's non-compliant income ratio?

Salesforce's FY2026 10-K (filed March 2026; fiscal year ended January 31, 2026) does not break out a separate interest-income line — the MD&A states Other income 'primarily consists of interest income on our marketable securities portfolio, which is partially offset by interest expense on our debt as well as our finance leases.' Other income was $172M against FY2026 revenue of $41,525M — about 0.41% of revenue. The broader figure adds 'Gains (losses) on strategic investments, net' of $1,017M (mark-to-market and observable price adjustments on Salesforce Ventures equity stakes — investment gains, not interest) for a combined $1,189M, about 2.86% of revenue. Both are below the 5% non-compliant income ceiling, so the income gate passes. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover CRM?

Zoya has a public CRM page, but its auto-generated text is contradictory — simultaneously calling CRM 'Shariah-compliant and therefore considered halal' and 'not considered halal' — so no clean Zoya rating is retrievable without the app; honestly reported as inconclusive. (Zoya's page also reports interest income of $0 for FY2026, noting no separate interest income is disclosed.) Musaffa covers CRM and screens it as halal — its MSCI World halal-stocks article states 'Salesforce is screened as halal on the Musaffa platform at its most recent quarterly review,' and its Dow Jones halal list reports CRM 'screened as halal on Musaffa as of March 2026.' ShariaPortfolio covers CRM: its screener page states 'Salesforce Inc is Shariah Compliant. It passes 3/5 Shariah standards we screen against.' All honestly reported as found, nothing invented. This page applies the screen directly from Salesforce's own filings.

Sources

Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).