Is SoFi Technologies stock halal to invest in?

Company Name
Company Symbol
Exchange
SoFi Technologies
SOFI
NASDAQ
SOFI
Not Halal
SoFi Technologies
NASDAQ

Warning: The result may change based on other methodologies. As of the recent update on Tuesday 7th of February 2023 , is considered as Not Halal based on FTSE methodology. To access full report and unlock the detailed results with associated ratios for 5 halal investment methodologies, you can click below.

Detailed report based on FTSE methodology

Activity filter

Main Activity
Activity test result
Banking Services
PASS

SoFi Technologies

SoFi Technologies, Inc., formerly Social Capital Hedosophia Holdings Corp. V, is a member-centric, digital financial services company. The Company allows members to borrow, save, spend, invest and protect their money. The Company has developed a financial services platform to offer products to members and meet their financial needs. The Company operates through three segments; Lending, Financial Services, and Technology Platform. Its Lending segment offers multiple loan products, such as student loans, personal loans and home loans. Its Financial Services provides financial service solutions, including cash management and investment services across its SoFi Money, SoFi Invest, SoFi Credit Card and SoFi Relay products. Its Technology Platform operates Technology Platform Services (Galileo) and Clearing Brokerage Services (Apex). The Company's mobile application is available on iOS and Android.

Financial filter

Debt test

Total Debt
Interest free debt
Adjusted debt level
Total Asset
Debt Ratio
PASS or FAIL
$5,937,089,296
0
$5,937,089,296
$456,800,000
1299.71%
FAIL

Cash test

Cash
Cash Eq.
Short Term Investment
Total Asset
Cash & Eq. ratio
PASS or FAIL
$935,160,000
$59,100,000
$7,222,000,000
$456,800,000
0%
PASS

Acid test

Cash
Cash Eq.
Net Accounts Receivables
Total Asset
Quick ratio
PASS or FAIL
$935,160,000
$59,100,000
$205,870,000
$456,800,000
262.73%
FAIL

Non permissible income filter

Net Interest Income (Expense) as non-Operating

Total Non permissible and doubtful income
Total revenue
Non permissible and doubtful income ratio
PASS or FAIL
$0
$94,930,000
0%
PASS