EL
Estée Lauder Companies
Is EL Halal?
Beauty — debt screen fails and ingredients remain scholar-dependent.
What You Should Know
Estée Lauder's March 31, 2026 filing reports debt/assets of 37.18%, liquidity/assets of 15.90%, receivables plus cash/assets of 24.78% and disclosed interest income of 0.40% of quarterly revenue. Cosmetics, skincare and fragrance ingredients, alcohol, animal derivatives and conventional financing require review.
⚠️ Concerns
- •Debt screen fails at 37.18% of assets
- •Cosmetic ingredients and alcohol are scholar-dependent
- •Disclosed interest income is not a complete purification prescription
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
7,312 / 19,664
3,126 / 19,664
4,872 / 19,664
15 / 3,712
- Financial
- Fails
- Overall
- Fails
Debt is 37.18% of assets, above the examined limit; liquidity is 15.90%, receivables plus cash are 24.78% and disclosed interest income is 0.40%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 37.18%, above the examined MSCI total-assets limit; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 37.18%, above the examined Malaysia financial limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the debt failure is independent of that denominator.
Business-activity disclosure
Estée Lauder makes cosmetics, skincare, fragrance and hair-care products. Beauty products are scholar-dependent because of ingredients, alcohol, animal derivatives, marketing and product use; conventional financing also requires review.
Limitation: The filing does not quantify a scholar-specific prohibited-revenue numerator; the disclosed income figure is a screen input, not a complete purification prescription.
Purification
Estée Lauder discloses $15 million of net interest and investment income but does not prescribe a scholar-approved purification percentage; the debt failure is independent of any purification estimate.
Inputs, assumptions and primary sources
- Amounts are USD millions from Estée Lauder's March 31, 2026 Form 10-Q.
- Debt includes $502 million current debt and $6,810 million long-term debt; operating leases are excluded.
- Cash and equivalents are $3,126 million; money-market funds are treated as included in cash equivalents and are not double-counted.
- Accounts receivable are $1,746 million and quarterly revenue is $3,712 million; disclosed interest and investment income, net, is $15 million.
- The filing does not allocate cosmetics, fragrance or skincare revenue into a universal prohibited-activity 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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