Is KMB (Kimberly-Clark Corporation) halal?

Q: Is KMB (Kimberly-Clark Corporation) halal?

HALAL: Personal-care and tissue manufacturing is generally permissible, but current debt and capital-lease obligations exceed the examined asset-based limits. Kimberly-Clark's first-quarter 2026 Form 10-Q reports $17,184 million of assets, $7,104 million of debt including continuing and discontinued operations, $559 million of cash and $2,311 million of net receivables. That produces debt/assets of 41.34%, cash/assets of 3.25%, and receivables plus cash/assets of 16.70%. Disclosed interest income is $5 million against $4,163 million of quarterly revenue (0.12%). The examined FTSE Yasaar, MSCI total-assets and Malaysia SAC calculations fail on debt; market-cap methods are not calculated. Personal-care, tissue and hygiene products are generally permissible at the activity level, while formulation, certification and sourcing questions require qualitative review.

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KMB

Kimberly-Clark Corporation

HALAL — SCREEN DOES NOT PASSstock

Is KMB Halal?

Personal-care and tissue manufacturing is generally permissible, but current debt and capital-lease obligations exceed the examined asset-based limits.

What You Should Know

Kimberly-Clark's first-quarter 2026 Form 10-Q reports $17,184 million of assets, $7,104 million of debt including continuing and discontinued operations, $559 million of cash and $2,311 million of net receivables. That produces debt/assets of 41.34%, cash/assets of 3.25%, and receivables plus cash/assets of 16.70%. Disclosed interest income is $5 million against $4,163 million of quarterly revenue (0.12%). The examined FTSE Yasaar, MSCI total-assets and Malaysia SAC calculations fail on debt; market-cap methods are not calculated. Personal-care, tissue and hygiene products are generally permissible at the activity level, while formulation, certification and sourcing questions require qualitative review.

⚠️ Concerns

•Debt and capital-lease obligations are 41.34% of assets, above the examined asset-based limits
•Individual products may use animal-derived ingredients or processing inputs that require SKU-level review
•Pulp, paper, packaging, labor and environmental impacts remain ethical-diligence topics
•Discontinued operations and transformation initiatives can change the consolidated mix and balance-sheet interpretation
•The filing discloses interest income but does not prescribe a scholar-approved purification percentage

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.

USD · millions

Interest-bearing debt / assets

41.34%Above limit

Below 33.333% under FTSE Yasaar

7,104 / 17,184

Cash + interest-bearing securities / assets

3.25%Within limit

Below 33.333% under FTSE Yasaar

559 / 17,184

Receivables + cash / assets

16.70%Within limit

Below 50% under FTSE Yasaar

2,870 / 17,184

Non-compliant income / revenue

0.12%Within limit

No more than 5% under FTSE Yasaar

5 / 4,163

Methodology	Financial	Overall	What drives it
FTSE Yasaar v4.6, February 2026	Fails	Fails	Debt is 41.34%, above the examined 33.333% FTSE asset limit. Liquidity is 3.25%, receivables plus cash are 16.70%, and disclosed interest income is 0.12%; debt is decisive.
MSCI Islamic (total-assets series) October 2024 methodology	Fails	Fails	Debt is 41.34%, above the examined MSCI total-assets limit, while liquidity is 3.25% and receivables plus cash are 16.70%. This is a calculation against the named method, not an index-membership claim.
Malaysia SAC financial ratios single 5% activity benchmark adopted November 2025	Fails	Fails	Debt is 41.34%, above the examined 33% Malaysia SAC financial limit; liquidity is 3.25%. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.
Market-cap denominator methods MSCI M-Series, S&P and Dow Jones methods differ	Not calculated	Not calculated	A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.

FTSE Yasaar

v4.6, February 2026

Financial: Fails
Overall: Fails

Debt is 41.34%, above the examined 33.333% FTSE asset limit. Liquidity is 3.25%, receivables plus cash are 16.70%, and disclosed interest income is 0.12%; debt is decisive.

MSCI Islamic (total-assets series)

October 2024 methodology

Financial: Fails
Overall: Fails

Debt is 41.34%, above the examined MSCI total-assets limit, while liquidity is 3.25% and receivables plus cash are 16.70%. This is a calculation against the named method, not an index-membership claim.

Malaysia SAC financial ratios

single 5% activity benchmark adopted November 2025

Financial: Fails
Overall: Fails

Debt is 41.34%, above the examined 33% Malaysia SAC financial limit; liquidity is 3.25%. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.

Market-cap denominator methods

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

Financial: Not calculated
Overall: Not calculated

A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.

Business-activity disclosure

Kimberly-Clark manufactures personal-care, tissue, hygiene and professional products. These are generally permissible at the activity level, while individual formulations, sourcing and consumer certification require separate review.

Limitation: The filing does not allocate a universal prohibited-revenue numerator by ingredient, certification or downstream use; no exact prohibited-revenue percentage is asserted.

Purification

Kimberly-Clark discloses interest income but does not prescribe a scholar-approved purification percentage. Readers should follow the qualified scholar or methodology they use rather than applying an invented fixed rate.

Inputs, assumptions and primary sources

Inputs use Kimberly-Clark's March 31, 2026 Form 10-Q; amounts are USD millions and revenue and interest income are for the quarter.
Debt includes $609 million payable within one year and $6,475 million of long-term debt, plus $3 million current and $17 million long-term debt reported within discontinued operations; operating leases are not added separately.
Cash includes $542 million of continuing-operations cash and $17 million held in discontinued operations. No separate marketable-securities balance is reported in the current balance sheet.
Receivables include $2,001 million continuing-operations net receivables and $310 million in discontinued operations.
Quarterly revenue is $4,163 million and disclosed interest income is $5 million; no fixed purification rate is inferred.

U.S. Securities and Exchange Commission: Kimberly-Clark First Quarter 2026 Form 10-Q 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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