CE
Celanese Corporation
Is CE Halal?
Specialty-materials and chemicals producer whose products are permissible, but acquisition-driven leverage often pushes debt above the threshold.
What You Should Know
Celanese Corporation produces engineered polymers, acetyl chemicals, and specialty materials. Its March 31, 2026 Form 10-Q reports assets of $21,735 million, interest-bearing debt of $12,554 million, cash of $1,758 million, receivables of $1,680 million and quarterly revenue of $2,337 million. Debt/assets is 57.76%, liquidity/assets is 8.09% and receivables-plus-cash/assets is 15.82%; the filing-based debt screen fails. Disclosed interest income is $9 million (0.38% of revenue), while prohibited-revenue allocation remains unavailable.
⚠️ Concerns
- •Known interest-bearing debt/assets is 57.76%, above examined 33.333% limits
- •Acquisition-driven leverage can change as Celanese pays down debt
- •Disclosed interest income is 0.38% of quarterly revenue; no fixed purification percentage is asserted
- •Specialty-materials end uses and prohibited-revenue allocation require qualitative review
- •Re-screen before each purchase given leverage sensitivity
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
12,554 / 21,735
1,758 / 21,735
3,438 / 21,735
9 / 2,337
- Financial
- Fails
- Overall
- Fails
Debt/assets is 57.76%, above the examined 33.333% limit; liquidity/assets is 8.09%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 57.76%, above the examined MSCI 33.33% limit; liquidity and receivables-plus-cash remain below their limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 57.76%, above the examined Malaysia limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the asset-based debt screen fails.
Business-activity disclosure
Celanese manufactures engineered polymers, acetyl chemicals and specialty materials; the industrial manufacturing activity is generally permissible.
Limitation: The filing does not allocate revenue by prohibited end use or provide a universal prohibited-revenue numerator.
Purification
The filing discloses $9 million of interest income (0.38% of revenue); treatment is disclosed for transparency, but no scholar-approved purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Celanese's March 31, 2026 Form 10-Q.
- Debt combines current debt of $1,741 million and long-term debt of $10,813 million; reported debt and capital-lease obligations are used as the interest-bearing proxy.
- Cash uses the filing's cash, cash equivalents and restricted cash presentation. Receivables combine accounts receivable and non-trade receivables.
- Interest income of $9 million is the filing's disclosed interest line; no universal prohibited-revenue numerator is disclosed.
- Specialty chemicals are generally permissible, but end-use and prohibited-revenue allocation remain qualitative.
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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