KMI
Kinder Morgan Inc.
Is KMI Halal?
Pipeline infrastructure — permissible midstream service but the current debt screen fails.
What You Should Know
Kinder Morgan's March 31, 2026 filing reports debt/assets of 43.87%, liquidity/assets of 0.10% and receivables plus cash/assets of 2.26%; gross interest income is not separately disclosed. Natural-gas, products and CO2 infrastructure can be permissible, while end uses, commodity contracts, environmental liabilities and conventional financing require qualitative review.
⚠️ Concerns
- •Debt screen fails at 43.87% of assets
- •Natural-gas, products and CO2 contract end uses
- •Very low unrestricted liquidity
- •Gross interest income and a universal prohibited-revenue numerator are unavailable
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
32,056 / 73,072
72 / 73,072
1,654 / 73,072
- Financial
- Fails
- Overall
- Fails
Debt is 43.87% of total assets, above the examined 33.333% limit; liquidity is 0.10% and receivables plus cash are 2.26%, while gross interest income is unavailable.
- Financial
- Fails
- Overall
- Fails
Debt is 43.87% of total assets, above the examined 33.33% limit; liquidity and receivables-plus-cash are below the examined total-assets limits. This is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt is 43.87% of total assets, above the examined 33% limit; identifiable liquidity is below 33%. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.
- 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
Kinder Morgan operates natural-gas and products pipelines, terminals, storage, CO2 infrastructure and renewable-natural-gas activities. Midstream infrastructure can be permissible, while hydrocarbon end uses, commodity contracts, CO2 operations, affiliate structures, environmental liabilities and financing require qualitative review.
Limitation: The filing does not quantify a scholar-specific prohibited-revenue numerator or gross interest-income numerator; this is not an official Sharia classification.
Purification
Gross interest income is not separately disclosed and no scholar-approved purification percentage is prescribed; no fixed amount is estimated.
Inputs, assumptions and primary sources
- Amounts are USD millions from Kinder Morgan's March 31, 2026 Form 10-Q.
- Interest-bearing debt includes $2,186 million of current debt and $29,870 million of total long-term debt, including fair-value adjustments; operating leases are excluded.
- Cash and cash equivalents are $72 million; restricted deposits of $108 million and $7,651 million of investments not identified as unrestricted interest-bearing securities are excluded.
- Accounts receivable are $1,582 million and first-quarter total revenue is $4,828 million.
- The filing reports interest net of interest income but does not separately disclose a reproducible gross-interest numerator or universal prohibited-revenue numerator.
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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