EXP
Eagle Materials Inc.
Is EXP Halal?
Building materials are generally permissible, but the latest total-assets debt screen fails and environmental concerns remain qualitative.
What You Should Know
Eagle Materials' March 31, 2026 Form 10-K reports 45.81% interest-bearing debt/assets, 7.76% identifiable liquidity/assets, 13.70% receivables-plus-cash/assets and 0.27% disclosed interest income/revenue. Cement and wallboard are generally permissible products, while debt, environmental impact and end use require continuing review.
⚠️ Concerns
- •Debt/assets was 45.81%
- •Cement production has material environmental impact
- •Interest income was 6.156 million in fiscal 2026
Current quantitative Sharia screen
Based on 10-K figures for the period ended 2026-03-31; calculated 2026-07-14.
1,760.081 / 3,842.244
297.92 / 3,842.244
526.493 / 3,842.244
6.156 / 2,308.658
- Financial
- Fails
- Overall
- Fails
Debt/assets is 45.81%, while liquidity/assets is 7.76%, receivables plus cash/assets is 13.70% and interest income/revenue is 0.27%; debt fails the examined limit.
- Financial
- Fails
- Overall
- Fails
The debt/assets ratio is above the examined limit; other calculated ratios are below their limits and business classification remains qualitative.
- Financial
- Fails
- Overall
- Fails
Debt/assets is above 33%; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Not calculated
A licensed reproducible 24- or 36-month market-cap history is not stored; a spot estimate is not substituted.
Business-activity disclosure
Eagle Materials manufactures cement, gypsum wallboard, recycled paperboard, concrete and aggregates. The core building-materials activity is generally permissible, while cement emissions and downstream end use require qualitative review.
Limitation: The filing does not classify environmental impact or every customer end use under a Sharia standard.
Purification
Interest income is disclosed, but ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Eagle Materials' March 31, 2026 Form 10-K.
- Debt includes current portion of long-term debt of 15.000 and long-term debt of 1,745.081.
- Cash and cash equivalents are 297.920; no separate interest-bearing securities were identified in the balance-sheet inputs used here.
- The filing reports 6.156 of interest income on fiscal 2026 revenue of 2,308.658.
- The filing does not provide a universal prohibited-revenue numerator for environmental or customer end use.
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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