Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is Workday, Inc. (WDAY) Halal?

PASS

Workday, Inc. · NASDAQ: WDAY · Technology

The short answer

Yes - Workday, Inc. (WDAY) passes this Shariah stock screen on all three gates. The business is enterprise cloud applications for financial management and human capital management plus consulting services, with no haram segments disclosed in its SEC filings. Interest-bearing debt of $2,989M (the April 2022 senior notes, per the 10-Q for the quarter ended July 31, 2026) is about 6.64% of its ~$45.0B market cap ($186.75 latest quote, October 2, 2026; 241M shares outstanding), below the ~33% ceiling. Interest income of $92M - separately disclosed in Note 15 (Other Income, Net) - is about 1.77% of total revenue ($5,191M, six months ended July 31, 2026), below the 5% ceiling. Note: Musaffa classifies WDAY as "not halal" (October 2026) - reported honestly as a differing third-party position; no ShariaPortfolio rating was found.

Gate 1 — Business activity: PASS

Workday, Inc. (NASDAQ: WDAY) provides enterprise cloud applications for financial management, spend management, human capital management, planning, and analytics, sold as subscription services, plus professional services (deployment consulting, optimization, training) - per the FY2025 10-K revenue-recognition note and the Q2 FY2027 10-Q, which breaks six-months-ended-July-31-2026 revenue into subscription services $4,826M and professional services $365M. Haram flags checked (factual, from the filings): the 10-K and 10-Q disclose no alcohol, tobacco, gambling, weapons, pork, or interest-based lending businesses - "Financial Management" is enterprise ERP software for corporate customers, not a financial-services operation. Nothing in the filings suggests a haram segment. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Workday's 10-Q for the quarter ended July 31, 2026, interest-bearing debt was $2,989M - debt, current $999M plus debt, noncurrent $1,990M (the April 2022 senior notes: $1,000M due 2027 now classified current, $750M due 2029, $1,250M due 2032). No finance lease liabilities are disclosed. Against a market cap of about $45.0B ($186.75 latest quote, October 2, 2026; 196M Class A + 45M Class B shares outstanding as of August 25, 2026), debt / market cap is about 6.64%, comfortably below the ~33% ceiling. Cash and cash equivalents of $661M plus marketable securities of $2,742M ($3,403M combined) are about 7.56% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Workday's 10-Q for the quarter ended July 31, 2026 discloses interest income of $92M as a separate line in Note 15 (Other Income, Net) for the six months ended July 31, 2026, against total revenues of $5,191M - about 1.77% of revenue, well below the 5% non-compliant income ceiling. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Workday do?

Workday, Inc. (NASDAQ: WDAY), headquartered in Pleasanton, California, provides enterprise cloud applications for financial management, spend management, human capital management, planning, and analytics, sold as subscription services, plus professional services (deployment consulting, optimization, and training). For the six months ended July 31, 2026, the 10-Q reports subscription services revenue of $4,826M and professional services revenue of $365M. Its filings disclose no alcohol, tobacco, gambling, weapons, pork, or interest-based lending businesses - "Financial Management" is enterprise ERP software for corporate customers, not a financial-services operation.

Why does Workday pass this Shariah stock screen?

Workday passes all three gates from its own filings. Gate 1: the business is enterprise cloud software for HR and finance plus consulting services - no haram segments are disclosed in the 10-K or 10-Q. Gate 2: interest-bearing debt of $2,989M is about 6.64% of its ~$45.0B market cap ($186.75 latest quote, October 2, 2026; 241M shares outstanding per the 10-Q cover), below the ~33% ceiling. Gate 3: separately disclosed interest income of $92M is about 1.77% of total revenue ($5,191M, six months ended July 31, 2026), below the 5% ceiling. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is Workday's interest-bearing debt ratio?

Per Workday's 10-Q for the quarter ended July 31, 2026, interest-bearing debt was $2,989M - debt, current $999M plus debt, noncurrent $1,990M (the April 2022 senior notes: $1,000M due 2027 now classified current, $750M due 2029, $1,250M due 2032). No finance lease liabilities are disclosed in the 10-Q. Against a market cap of about $45.0B ($186.75 latest quote on October 2, 2026; 196M Class A + 45M Class B shares outstanding as of August 25, 2026), debt / market cap is about 6.64% - comfortably below the ~33% ceiling. Cash and cash equivalents of $661M plus marketable securities of $2,742M ($3,403M combined) are about 7.56% of market cap.

What is Workday's non-compliant income ratio?

Workday's 10-Q for the quarter ended July 31, 2026 discloses interest income as a separate line in Note 15 (Other Income, Net): $92M for the six months ended July 31, 2026, against total revenues of $5,191M - about 1.77% of revenue, well below the 5% non-compliant income ceiling. Gate 3 passes.

Do Zoya, Musaffa, or ShariaPortfolio cover Workday?

Musaffa covers WDAY and classifies it "not halal" as of October 2026 (musaffa.com/stock/WDAY/) - reported honestly as a differing third-party position, though its page gives no specific reason. Zoya covers WDAY at zoya.finance/stocks/wday, but the page's rating text rendered multiple status-template variants with unfilled date fields, so no specific Zoya rating could be read - reported as unread, not invented. No ShariaPortfolio screening page or rating for WDAY was found - reported as absent, not invented. This page applies the screen directly from Workday's own SEC filings and reports these positions honestly.

Sources

Screened 2026-10-02 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).