CCK
Crown Holdings, Inc.
Is CCK Halal?
General-purpose metal-packaging manufacturing is generally permissible, but Crown Holdings' current debt/assets ratio is above the examined asset-based Sharia limits.
What You Should Know
Crown Holdings' March 31, 2026 Form 10-Q reports $14,305 million of total assets, $6,257 million of interest-bearing debt, $584 million of cash, $1,957 million of net receivables and $3,259 million of quarterly revenue. Those inputs produce debt/assets of 43.74%, liquidity of 4.08%, receivables plus cash/assets of 17.76% and disclosed interest income/revenue of 0.37%. Debt fails the examined FTSE Yasaar, MSCI and Malaysia asset-based limits; Crown's metal beverage, food, aerosol, closure and industrial-protective-packaging activities are generally permissible at the activity level, but customer and end-use allocation remains incomplete. This is a current ZakatInvest calculation, not an index-membership claim.
⚠️ Concerns
- •Debt/assets of 43.74% exceeds the examined 33% asset-based limits; the calculation uses Crown's reported short-term and long-term interest-bearing debt
- •Crown carries senior notes, term loans and revolving facilities; its March 2026 credit agreement includes Signode entities and extends the facilities to 2031
- •The filing reports $12 million of interest income, or 0.37% of revenue; no fixed scholar-approved purification rate is asserted
- •Beverage-can customers include alcoholic-beverage producers, but Crown manufactures general-purpose packaging rather than producing alcohol; stricter advisers may apply additional customer-mix scrutiny
- •Transit Packaging remains a reported segment and a completed Signode divestiture is not assumed
- •Aluminum and steel input costs, foreign exchange and commodity-derivative hedging remain qualitative methodology considerations
- •Market-cap denominator methods are not calculated without a licensed historical market-cap series
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
6,257 / 14,305
584 / 14,305
2,541 / 14,305
12 / 3,259
- Financial
- Fails
- Overall
- Fails
Debt is 43.74%, above the examined 33.333% asset limit; liquidity is 4.08%, receivables plus cash are 17.76% and disclosed interest income is 0.37%.
- Financial
- Fails
- Overall
- Fails
Debt is 43.74%, above the examined MSCI 33.33% total-assets limit; liquidity, receivables plus cash and disclosed interest income are below their examined limits. This is a calculation against the named method, not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt is 43.74%, above the examined 33% Malaysia SAC financial limit; identifiable liquidity is 4.08% and disclosed interest income is 0.37%. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Crown Holdings manufactures metal beverage and food cans, aerosol cans, metal closures and industrial-protective packaging through its Americas Beverage, European Beverage, Asia Pacific, Transit Packaging and other operations. General-purpose metal-packaging manufacturing is generally permissible at the activity level.
Limitation: The filing describes segments and customers but does not provide a universal prohibited-revenue numerator by alcoholic-beverage customer, product end use or packaging application, so no unsupported haram-revenue percentage is estimated.
Purification
Disclosed interest income is 0.37% of quarterly revenue and passes the examined income threshold, but no fixed scholar-approved purification rate is asserted and business-revenue allocation remains incomplete.
Inputs, assumptions and primary sources
- Assets use Crown Holdings' consolidated total assets of $14,305 million at March 31, 2026.
- Interest-bearing debt uses $53 million of short-term debt, $507 million of current maturities and $5,697 million of long-term debt excluding current maturities, or $6,257 million total carrying debt. Operating lease, pension and other noncurrent liabilities are not silently added.
- Cash uses $584 million of cash and cash equivalents. The filing does not separately report an interest-bearing securities balance, so none is added.
- Receivables use the reported $1,957 million net balance; other current assets and contract assets are not silently added.
- Quarterly revenue is $3,259 million and disclosed interest income is $12 million, or 0.37% of revenue.
- Crown's March 2026 filing continues to report Transit Packaging as a segment and identifies Signode Industrial Group US Inc. as a credit-agreement party; no completed Signode divestiture is assumed.
- The filing reports commodity and foreign-exchange derivatives, including $380 million of commodity-hedge notional exposure and $477 million of non-designated foreign-exchange notional exposure; derivatives are retained as a qualitative methodology consideration rather than added to debt or securities.
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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