Porch Group, Inc. (PRCH) - Not Halal (Non-Compliant)
Porch Group, Inc. (PRCH) is classified as Not Halal (Non-Compliant) according to AAOIFI Shariah screening standards. This assessment is based on business activity screening and financial ratio analysis using the AAOIFI methodology.
Business Activity Screen
- Sector
- Financial Services
- Industry
- Insurance - Property & Casualty
- Result
- Pass
- Reason
- The sector "Financial Services" and industry "Insurance - Property & Casualty" are not in the excluded categories.
Financial Ratios
- Debt Ratio
- Value: 39.1% | Threshold: 30% | Result: Fail
- Cash & Interest-bearing Securities Ratio
- Value: 21.1% | Threshold: 30% | Result: Pass
- Non-Permissible Income Ratio
- Value: 0.2% | Threshold: 5% | Result: Pass
Dividend Purification
Purification percentage: 0.17%.Based on the company's financial statements, approximately 0.17% of dividend income should be donated to charity for purification. This is derived from identified interest income (0.17% of total income). Some scholars may differ on the exact calculation method.
About Porch Group, Inc.
Porch Group, Inc. develops and sells software and data solutions, manages insurance services, and provides consumer services related to homeownership in the United States. It operates through four segments: Insurance Services, Software & Data, Consumer Services, and the Reciprocal Segment. The Insurance Services segment manages and operates Porch Reciprocal Exchange, providing services including underwriting, policy renewal, risk management, portfolio management, financial oversight, and investment guideline setting. The Software & Data segment offers subscription and transactional software for inspection, mortgage, title, and roofing companies, as well as data products for insurance and other companies, including home inspection software, title and mortgage software, home factors property insights, and mover marketing products; measurement software for roofers; and move and post-move services. The Consumer Services segment provides warranty products under Porch Warranty and other brands, and moving-related services such as moving labor, TV/Internet, and security setup. The Reciprocal Segment, managed but not owned by Porch, includes Homeowners of America and Porch Reciprocal Exchange, which provides consumers with insurance to protect their homes, through premiums collected on policies. The company was founded in 2011 and is headquartered in Seattle, Washington.