HAL
Halliburton Co.
Is HAL Halal?
Oilfield services — financial ratios pass but hydrocarbon activity remains a qualitative concern.
What You Should Know
Halliburton's March 31, 2026 filing reports debt/assets of 28.48%, liquidity/assets of 7.97% and receivables plus cash/assets of 28.64%; disclosed interest income is 0.41% of quarterly revenue. The financial ratios pass the examined total-assets screens, but drilling, completion and production services support hydrocarbon extraction and require ongoing qualitative review.
⚠️ Concerns
- •Oilfield services support hydrocarbon extraction
- •Environmental, emissions, water and safety risks
- •Disclosed interest income is not a complete purification prescription
- •No universal prohibited-revenue numerator
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
7,160 / 25,142
2,003 / 25,142
7,200 / 25,142
22 / 5,402
- Financial
- Pass
- Overall
- Incomplete
Debt is 28.48% of total assets, liquidity is 7.97%, receivables plus cash are 28.64% and disclosed interest income is 0.41% of revenue; the financial ratios pass but business classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt is 28.48%, liquidity is 7.97% and receivables plus cash are 28.64% of total assets, below the examined MSCI total-assets limits; business classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 28.48% and liquidity/assets is 7.97%, below the examined Malaysia SAC limits; business activity remains incomplete and this is not an official classification.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible 24- or 36-month issuer market-cap history is not stored, so market-cap methods are not estimated from a current spot price.
Business-activity disclosure
Halliburton provides drilling, completion, production and related oilfield services and products. The service business supports hydrocarbon exploration and production, while customer end uses, environmental impacts, geopolitical exposure, product lines and contract-level activity require qualitative review.
Limitation: The filing does not allocate revenue into a universal prohibited-activity numerator for hydrocarbon end uses, customers, products or jurisdictions; no exact activity percentage is asserted.
Purification
Halliburton discloses $22 million of interest income, but no scholar-approved purification percentage is prescribed; the ratio is evidence for the income screen, not a complete purification prescription.
Inputs, assumptions and primary sources
- Amounts are USD millions from Halliburton's March 31, 2026 Form 10-Q.
- Interest-bearing debt includes $90 million of current maturities and $7,070 million of long-term debt; operating lease liabilities are excluded.
- Cash and equivalents are $2,003 million. Other current assets and retirement-plan investments are not added as interest-bearing securities because they are not separately identified as unrestricted debt securities.
- Receivables, net are $5,197 million and first-quarter revenue is $5,402 million.
- The filing reports interest expense net of $22 million of interest income; $22 million is used as a disclosed income-screen numerator, not an official purification amount.
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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