CAG

Conagra Brands, Inc.

DOUBTFUL — SCREEN DOES NOT PASSstock

Is CAG Halal?

Packaged food is generally permissible, but the latest filing-backed asset screen fails and the portfolio has material pork and non-halal meat exposure.

What You Should Know

Conagra's February 22, 2026 Form 10-Q reports $19,212.3M of assets, $7,332.4M of interest-bearing debt, $55.1M of cash, $757.0M of receivables and $2,787.8M of quarterly sales. Debt/assets is 38.17%, above the examined asset-based limits; disclosed interest income is $0.5M. The filing does not provide a universal prohibited-food revenue numerator, so the qualitative pork, non-halal meat and ingredient questions remain separate.

⚠️ Concerns

  • Debt/assets is 38.17%, above the examined FTSE Yasaar, MSCI and Malaysia SAC limits
  • Portfolio includes pork and non-halal meat products
  • Some sauces or cooking products may use alcohol as an ingredient
  • The filing does not provide a universal prohibited-revenue numerator

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-02-22; calculated 2026-07-13.

USD · millions
Interest-bearing debt / assets
38.17%Above limit
Below 33.333% under FTSE Yasaar

7,332.4 / 19,212.3

Cash + interest-bearing securities / assets
0.29%Within limit
Below 33.333% under FTSE Yasaar

55.1 / 19,212.3

Receivables + cash / assets
4.23%Within limit
Below 50% under FTSE Yasaar

812.1 / 19,212.3

Non-compliant income / revenue
0.02%Within limit
No more than 5% under FTSE Yasaar

0.5 / 2,787.8

FTSE Yasaar
v4.6, February 2026
Financial
Fails
Overall
Fails

Debt/assets is 38.17%, above the 33.333% limit; liquidity/assets is 0.29% and receivables plus cash/assets is 4.23%.

MSCI Islamic (total-assets series)
October 2024 methodology
Financial
Fails
Overall
Fails

Debt/assets is 38.17%, above the examined 33.33% limit; liquidity and receivables-plus-cash remain below their limits.

Malaysia SAC financial ratios
single 5% activity benchmark adopted November 2025
Financial
Fails
Overall
Fails

Debt/assets is 38.17%, above the examined Malaysia SAC limit; liquidity/assets is below its limit.

Market-cap denominator methods
MSCI M-Series, S&P and Dow Jones methods differ
Financial
Not calculated
Overall
Fails

No licensed historical market-cap series is stored; the asset-based screens fail on debt/assets.

Business-activity disclosure

Conagra sells packaged foods across frozen meals, snacks, groceries and foodservice. General food manufacturing is permissible, but brands and products include pork and non-halal meat exposure that strict boards may treat as a binding qualitative concern.

Limitation: The filing does not allocate revenue into a universal prohibited-food numerator, so no percentage is invented.

Purification

The filing discloses $0.5 million of interest income; ZakatInvest does not prescribe a fixed scholar-approved purification percentage.

Inputs, assumptions and primary sources
  • Amounts are USD millions from Conagra's February 22, 2026 Form 10-Q.
  • Debt includes notes payable, current long-term debt and senior long-term debt; receivables are reported trade receivables.
  • Quarterly net sales were $2,787.8 million and disclosed interest income was $0.5 million.
  • Conagra's packaged-food portfolio includes pork and non-halal meat products; 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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