BE
Bloom Energy Corporation
Is BE Halal?
Clean-energy activity is generally permissible, but debt, liquidity and receivables ratios fail the latest filing-backed screens.
What You Should Know
Bloom Energy's March 31, 2026 Form 10-Q reports $4,664.729M of assets, $2,602.635M of debt, $2,491.433M of cash, $359.406M of receivables and $751.054M of quarterly revenue. Debt/assets is 55.79%, liquidity/assets is 53.41% and receivables plus cash/assets is 61.11%; each exceeds the examined asset-based limits. Disclosed interest income is $20.601M. The fuel-cell and hydrogen activity remains qualitatively permissible, but the filing does not disclose a universal prohibited-revenue numerator.
⚠️ Concerns
- •Debt/assets is 55.79%, above the examined FTSE, MSCI and Malaysia limits
- •Liquidity/assets is 53.41% and receivables plus cash/assets is 61.11%
- •Convertible and term-loan debt is material
- •The filing does not provide a universal prohibited-revenue numerator
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
2,602.635 / 4,664.729
2,491.433 / 4,664.729
2,850.839 / 4,664.729
20.601 / 751.054
- Financial
- Fails
- Overall
- Fails
Debt/assets is 55.79%, liquidity/assets is 53.41% and receivables plus cash/assets is 61.11%, all above the examined FTSE limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets, liquidity/assets and receivables plus cash/assets are above the examined MSCI limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 55.79% and liquidity/assets is 53.41%, above the examined Malaysia SAC limits.
- Financial
- Not calculated
- Overall
- Fails
No licensed historical market-cap series is stored; the asset-based financial screens fail.
Business-activity disclosure
Bloom Energy develops solid-oxide fuel-cell systems, electrolyzers and distributed power solutions. Clean-energy technology is generally permissible, while debt structure and customer end use remain separate qualitative considerations.
Limitation: The filing does not allocate revenue into a universal prohibited-activity numerator, so no percentage is invented.
Purification
The filing discloses $20.601 million of interest income; ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Bloom Energy's March 31, 2026 Form 10-Q.
- Debt uses carrying value of recourse and nonrecourse debt; cash is unrestricted cash and cash equivalents.
- Quarterly revenue was $751.054 million and disclosed interest income was $20.601 million.
- Bloom Energy develops solid-oxide fuel-cell systems and hydrogen electrolyzers; the filing does not provide a universal prohibited-revenue numerator.
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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