GIS2

Smithfield Foods (WH Group)

HARAM — SCREEN DOES NOT PASSstock

Is GIS2 Halal?

Pork processor — world's largest pork company.

What You Should Know

Smithfield Foods (the preserved WH Group alias) is primarily a pork processor and hog producer. Its FY2025 filing reports USD 15,531 million of sales, with packaged meats, fresh pork and hog production as the operating segments. The quantitative screen passes the examined asset ratios, but the core pork activity remains prohibited.

⚠️ Concerns

  • Packaged meats and fresh pork are core segments
  • FY2025 debt/assets 16.45% and receivables-plus-cash/assets 21.04% do not change the business verdict
  • European operations were carved out to WH Group in 2024

Current quantitative Sharia screen

Based on 10-K figures for the period ended 2025-12-28; calculated 2026-07-14.

USD · millions
Interest-bearing debt / assets
16.45%Within limit
Below 33.333% under FTSE Yasaar

2,003 / 12,177

Cash + interest-bearing securities / assets
12.64%Within limit
Below 33.333% under FTSE Yasaar

1,539 / 12,177

Receivables + cash / assets
21.04%Within limit
Below 50% under FTSE Yasaar

2,562 / 12,177

Non-compliant income / revenue (upper bound)
0.00%Within limit
No more than 5% under FTSE Yasaar

0 / 15,531

FTSE Yasaar
v4.6, February 2026
Financial
Pass
Overall
Fails

Debt is 16.45%, liquidity is 12.64%, receivables plus cash are 21.04% and the conservative interest-income input is 0%; the core pork business independently fails the activity screen.

MSCI Islamic (total-assets series)
October 2024 methodology
Financial
Pass
Overall
Fails

The examined asset ratios pass the stated limits, but the core pork-processing activity independently fails.

Malaysia SAC financial ratios
single 5% activity benchmark adopted November 2025
Financial
Pass
Overall
Fails

The examined debt and liquidity ratios pass the stated limits; this is a calculation against SAC ratios, not an official classification of a U.S.-listed security, and the business remains prohibited.

Market-cap denominator methods
MSCI M-Series, S&P and Dow Jones methods differ
Financial
Not calculated
Overall
Fails

Historical market-cap ratios are not stored; a different denominator cannot cure the failed pork business activity.

Business-activity disclosure

Smithfield's Packaged Meats, Fresh Pork and Hog Production segments are centered on pork processing, pork products and hog production. The filing reports USD 15,531 million of fiscal 2025 sales and describes pork products throughout the operating segments, so the core activity is prohibited under the site's qualitative screen.

Limitation: The filing does not allocate every product, by-product or customer contract to a school-specific Sharia category. That limitation does not change the result because pork is the principal business activity.

Purification

Purification is not calculated because the core business is pork production and processing; an incidental-income estimate cannot make the primary activity permissible.

Inputs, assumptions and primary sources
  • Amounts are USD millions from Smithfield Foods' audited fiscal 2025 consolidated financial statements.
  • Debt includes current and long-term debt and finance lease obligations of USD 2,003 million; operating lease obligations are excluded.
  • Cash is USD 1,539 million and net accounts receivable is USD 1,023 million; no separately identified interest-bearing securities balance is included.
  • Fiscal 2025 consolidated sales were USD 15,531 million. The preserved GIS2 route is an alias for Smithfield Foods; the filing identifies the current issuer as Smithfield Foods after the European operations were carved out to WH Group in 2024.
  • No separately quantified interest-income line was identified in the filing; zero is used only as a conservative screening input, not as a claim that all incidental income is Sharia-compliant.

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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