CELH
Celsius Holdings
Is CELH Halal?
Energy drink manufacturer with permissible products and strong financials.
What You Should Know
Celsius produces fitness and energy drinks. Business is halal, minimal debt, excellent Sharia compliance. Its March 31, 2026 Form 10-Q reports $5,157.593 million of assets, $675.881 million of interest-bearing debt, $549.201 million of cash, $832.373 million of receivables and $782.615 million of quarterly revenue. The examined financial ratios pass, while product-activity allocation remains incomplete.
⚠️ Concerns
- •Caffeine and sugar content
- •Ingredient and health questions
- •Acquisition-related debt
- •Activity allocation not universal
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
675.881 / 5,157.593
549.201 / 5,157.593
1,381.574 / 5,157.593
2.992 / 782.615
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 13.10%, liquidity/assets is 10.65%, receivables-plus-cash/assets is 26.79% and disclosed interest income is 0.38%; examined financial ratios pass, but activity allocation remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables-plus-cash are below the examined total-assets limits; the beverage activity numerator remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets and identifiable conventional cash are below the examined Malaysia limits; activity allocation remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored.
Business-activity disclosure
Celsius makes fitness and energy beverages. The retained qualitative analysis treats the products as generally permissible while noting caffeine, sugar, marketing and ingredient questions; no universal prohibited-revenue numerator is disclosed.
Limitation: No scholar-universal activity allocation is inferred from product or brand descriptions.
Purification
Celsius discloses $2.992 million of interest income, but no scholar-approved purification percentage is asserted for beverage revenue.
Inputs, assumptions and primary sources
- Amounts are USD millions from Celsius Holdings' March 31, 2026 Form 10-Q.
- Interest-bearing debt is $675.881 million net of unamortized discounts and issuance costs. Cash is $549.201 million and accounts receivable is $832.373 million.
- Quarterly revenue is $782.615 million. Disclosed interest income is $2.992 million, or 0.38% of quarterly revenue.
- Celsius' filing does not provide a scholar-universal prohibited-revenue numerator for beverage ingredients, marketing or acquired brands, so the business screen remains incomplete.
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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