EVGO
EVgo Inc.
Is EVGO Halal?
Fast-charging network for electric vehicles with permissible business.
What You Should Know
EVgo operates fast-charging stations for electric vehicles. Its March 31, 2026 Form 10-Q reports $920.347 million of assets, $322.475 million of debt including operating leases, $122.435 million of cash, $33.315 million of receivables and $109.531 million of quarterly revenue. Debt/assets is 35.04%, above the examined 33% limits; liquidity/assets is 13.30%, receivables-plus-cash/assets is 16.92% and disclosed interest income is 1.26% of revenue. The charging business remains qualitatively permissible, while grants, customer concentration and financing structure require review.
⚠️ Concerns
- •Debt/assets exceeds the examined 33% limits
- •DOE grants and tax-credit transfers
- •Customer concentration and project financing
- •Pre-profit with ongoing losses
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
322.475 / 920.347
122.435 / 920.347
155.75 / 920.347
1.38 / 109.531
- Financial
- Fails
- Overall
- Fails
Debt/assets is 35.04%, above the examined 33.333% limit; liquidity/assets is 13.30%, receivables-plus-cash/assets is 16.92% and disclosed interest income is 1.26%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 35.04%, above the examined 33.33% limit; liquidity and receivables-plus-cash remain below the examined limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 35.04%, above the examined Malaysia 33% limit; liquidity/assets is 13.30%. This calculation is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
EVgo owns and operates electric-vehicle fast-charging infrastructure. The core infrastructure business is generally permissible, while grant, tax-credit, customer and project-financing allocation requires qualitative review.
Limitation: The filing does not provide a universal prohibited-activity numerator across grants, customers, contracts and financing arrangements.
Purification
EVgo discloses $1.380 million of domestic-deposit interest income but does not provide a scholar-approved purification percentage or complete prohibited-activity numerator.
Inputs, assumptions and primary sources
- Amounts are USD millions from EVgo's March 31, 2026 Form 10-Q.
- Interest-bearing debt is $211.525 million of long-term debt plus $110.950 million of operating-lease liabilities; current debt is included in the long-term debt total.
- Cash and cash equivalents are $122.435 million; no separate interest-bearing securities line is reported. Accounts receivable, net are $33.315 million.
- Quarterly revenue is $109.531 million and disclosed domestic-deposit interest income is $1.380 million, or 1.26% of revenue.
- EV charging infrastructure is generally permissible, but DOE grants, tax-credit transfers, customer concentration and financing-linked arrangements are not reduced to 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.
Similar Stocks
Want to screen more assets?
Use our interactive Halal Checker to screen any stock, ETF, or crypto instantly.
Go to Halal Checker →