AA
Alcoa Corp.
Is AA Halal?
Aluminum manufacturing — permissible industrial metal.
What You Should Know
Alcoa's March 31, 2026 filing shows debt/assets 15.32%, liquidity/assets 8.13%, and receivables plus cash/assets 16.55%. Gross interest income and a prohibited-revenue numerator are not separately disclosed; bauxite mining, energy-intensive smelting, joint ventures and downstream end uses remain qualitative concerns.
⚠️ Concerns
- •Mining and remediation obligations
- •Energy-intensive smelting
- •Gross interest income not separately disclosed
- •Downstream activity revenue not quantified
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
2,550 / 16,640
1,353 / 16,640
2,754 / 16,640
- Financial
- Incomplete
- Overall
- Incomplete
Debt is 15.32%, liquidity is 8.13%, and receivables plus cash is 16.55%, below the examined limits. Gross interest income and screened activity revenue are unavailable.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables plus cash are below the examined total-assets limits. This is not an index-membership claim; screened activity revenue remains undisclosed.
- Financial
- Pass
- Overall
- Incomplete
Debt and identifiable liquidity are below 33% of total assets. This is a calculation against SAC ratios, not an official classification; screened activity revenue remains unavailable.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible 24- or 36-month issuer market-cap history is not stored, so market-cap methods are not estimated from a current spot price.
Business-activity disclosure
Alcoa mines bauxite and produces alumina and aluminum. Industrial metals and manufacturing are generally permissible categories, but mining, energy-intensive smelting, joint ventures and downstream end uses require qualitative review.
Limitation: The filing does not provide a reproducible prohibited-revenue numerator for mining, joint ventures, energy contracts or scholar-specific downstream end uses, and gross interest income is not separately disclosed.
Purification
Gross interest income is not separately disclosed and screened operating-revenue categories are not quantified; no purification percentage is inferred.
Inputs, assumptions and primary sources
- Debt combines $2,441 million of long-term debt and $109 million of short-term borrowings; the $1 million current portion is included in the long-term debt balance.
- Cash uses $1,353 million of cash and cash equivalents. Alcoa's $1,485 million Ma'aden holding is an equity security, not an interest-bearing security, and is excluded from liquidity securities.
- Receivables combine $1,192 million from customers and $209 million of other receivables. Quarterly sales are $3,193 million.
- Other income includes interest on interest-bearing accounts but the filing does not separately disclose a gross amount usable as a standalone non-compliant-income input.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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