Is JBS (JBS S.A.) halal?

Q: Is JBS (JBS S.A.) halal?

HARAM: Meat processing — non-halal slaughter and pork. JBS N.V.'s 2025 Form 20-F (the current NYSE JBS issuer following the JBS S.A. structure transition) reports US$45,156.486 million of assets, US$21,090.6 million of indebtedness, US$4,565.136 million of cash, US$4,273.155 million of trade and related-party receivables and US$86,184.2 million of net revenue. Debt/assets is 46.71%; all examined asset-based financial screens fail, and the core pork and non-halal slaughter business independently fails the qualitative activity screen.

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JBS

JBS S.A.

HARAM — SCREEN DOES NOT PASSstock

Is JBS Halal?

Meat processing — non-halal slaughter and pork.

What You Should Know

JBS N.V.'s 2025 Form 20-F (the current NYSE JBS issuer following the JBS S.A. structure transition) reports US$45,156.486 million of assets, US$21,090.6 million of indebtedness, US$4,565.136 million of cash, US$4,273.155 million of trade and related-party receivables and US$86,184.2 million of net revenue. Debt/assets is 46.71%; all examined asset-based financial screens fail, and the core pork and non-halal slaughter business independently fails the qualitative activity screen.

⚠️ Concerns

•Pork slaughter and processing
•Non-halal meat (no Islamic slaughter method)
•Debt/assets exceeds the examined limits
•Current filing is by JBS N.V.; legacy JBS S.A. identity is preserved for the existing route

Current quantitative Sharia screen

Based on 20-F figures for the period ended 2025-12-31; calculated 2026-07-15.

USD · millions

Interest-bearing debt / assets

46.71%Above limit

Below 33.333% under FTSE Yasaar

21,090.6 / 45,156.486

Cash + interest-bearing securities / assets

10.21%Within limit

Below 33.333% under FTSE Yasaar

4,610.916 / 45,156.486

Receivables + cash / assets

19.57%Within limit

Below 50% under FTSE Yasaar

8,838.291 / 45,156.486

Non-compliant income / revenue

0.48%Within limit

No more than 5% under FTSE Yasaar

417.197 / 86,184.2

Methodology	Financial	Overall	What drives it
FTSE Yasaar v4.6, February 2026	Fails	Fails	Debt/assets is 46.71%, above the examined 33.333% limit; liquidity/assets is 10.21%, receivables-plus-cash/assets is 19.57%, and disclosed income is 0.48% of revenue.
MSCI Islamic (total-assets series) October 2024 methodology	Fails	Fails	Debt/assets is 46.71%, above the examined MSCI 33.33% limit; the core meat-processing activity also fails qualitatively.
Malaysia SAC financial ratios single 5% activity benchmark adopted November 2025	Fails	Fails	Debt/assets is 46.71%, above the examined Malaysia 33% limit; the core meat-processing activity fails qualitatively.
Market-cap denominator methods MSCI M-Series, S&P and Dow Jones methods differ	Not calculated	Fails	A licensed historical market-cap series is not stored; the debt failure and core prohibited activity remain material.

FTSE Yasaar

v4.6, February 2026

Financial: Fails
Overall: Fails

Debt/assets is 46.71%, above the examined 33.333% limit; liquidity/assets is 10.21%, receivables-plus-cash/assets is 19.57%, and disclosed income is 0.48% of revenue.

MSCI Islamic (total-assets series)

October 2024 methodology

Financial: Fails
Overall: Fails

Debt/assets is 46.71%, above the examined MSCI 33.33% limit; the core meat-processing activity also fails qualitatively.

Malaysia SAC financial ratios

single 5% activity benchmark adopted November 2025

Financial: Fails
Overall: Fails

Debt/assets is 46.71%, above the examined Malaysia 33% limit; the core meat-processing activity fails qualitatively.

Market-cap denominator methods

MSCI M-Series, S&P and Dow Jones methods differ

Financial: Not calculated
Overall: Fails

A licensed historical market-cap series is not stored; the debt failure and core prohibited activity remain material.

Business-activity disclosure

JBS is a global meat and animal-protein processor. Pork processing and non-halal slaughter are core qualitative concerns and support the preserved HARAM verdict, but the automated business screen remains incomplete without a school-specific prohibited-revenue numerator.

Limitation: The filing does not provide a universal prohibited-revenue numerator separating pork and non-halal products from other protein sales.

Purification

The filing discloses finance income but does not provide a scholar-approved purification percentage; the core activity screen is independently failed.

Inputs, assumptions and primary sources

Amounts are USD millions from JBS N.V.'s audited 2025 consolidated statements.
Total outstanding indebtedness is US$21,090.6 million (US$833.1 million current and US$20,257.5 million non-current); leases are not added where the filing presents them separately.
Cash is US$4,565.136 million, long-term investments are US$45.780 million, trade accounts receivable are US$4,231.924 million and related-party receivables are US$41.231 million.
Net revenue is US$86,184.2 million. Finance income includes disclosed interest income of US$417.197 million; it is used as a conservative income proxy.

U.S. Securities and Exchange Commission: JBS N.V. Form 20-F for fiscal year ended December 31, 2025 FTSE Russell: FTSE Yasaar Global Equity Shariah Index Series Ground Rules MSCI: MSCI Islamic Index Series Methodology Securities Commission Malaysia: Shariah-Compliant Securities Screening Methodology

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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