KO
The Coca-Cola Co.
Is KO Halal?
The core portfolio is mainly non-alcoholic, but current total-assets financial screens fail and disclosed alcohol-brand activity cannot be quantified from consolidated revenue.
What You Should Know
Coca-Cola's principal portfolio remains non-alcoholic beverages, but the company also identifies alcohol ready-to-drink brands and partnerships. Its April 2026 balance sheet produces a 43.46% interest-bearing-debt-to-assets ratio, above the examined total-assets limits. Because alcohol-specific revenue is not disclosed and market-cap methods have not been calculated, ZakatInvest classifies KO as doubtful rather than claiming a universal ruling.
⚠️ Concerns
- •Alcohol ready-to-drink brands, licensing and partnerships; exact screened revenue is undisclosed
- •Interest-bearing debt is 43.46% of total assets
- •Interest and dividend income require purification analysis
- •Sugar, product health, marketing and consumer welfare
- •Water stewardship, plastics, emissions, sourcing, labor and human rights
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-03; calculated 2026-07-12.
45,295 / 104,217
13,713 / 104,217
14,249 / 104,217
255 / 12,472
- Financial
- Fails
- Overall
- Fails
Debt is 43.46% of total assets and exceeds the 33.333% limit. Identifiable liquidity is 13.16%, receivables plus cash is 13.67%, and the conservative non-compliant-income upper bound is 2.04%; those ratios pass, but the debt failure determines the financial result.
- Financial
- Fails
- Overall
- Fails
Debt is 43.46% and exceeds the examined 33.33% total-assets limit. Liquidity and receivables-plus-cash pass, but the debt failure determines the result; the alcohol business-revenue calculation also remains incomplete.
- Financial
- Fails
- Overall
- Fails
Debt is 43.46% and exceeds the examined 33% total-assets limit. This is a calculation against the SAC ratios, not an official SAC classification of a U.S.-listed security; the screened business-revenue numerator is unavailable.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible 24- or 36-month issuer market-cap history is not yet stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Coca-Cola's broad portfolio is principally associated with non-alcoholic sparkling beverages, water, sports drinks, coffee, tea, juice, dairy and plant-based beverages. The company also presents a distinct alcohol ready-to-drink portfolio that includes Fresca Mixed, Jack Daniel's and Coca-Cola, Simply Spiked and Topo Chico Hard, using a mix of relationships, brand authorizations and market arrangements.
Limitation: The filing does not disclose alcohol-specific revenue or a Sharia-screened numerator for brand authorizations, licensing, ingredients, products, markets or end uses. The existence of alcohol activity is documented, but neither a claim that it is below nor above a 5% business threshold can be reproduced from consolidated disclosure.
Purification
Gross interest income plus dividend income is a conservative 2.04% upper bound relative to quarterly net operating revenues. Alcohol-specific and other screened operating revenue is unavailable, and not every dividend receipt is proven prohibited, so 2.04% is not presented as a complete fixed purification prescription.
Inputs, assumptions and primary sources
- Interest-bearing debt is 332 of loans and notes payable, 4,493 of current maturities, 39,065 of long-term debt, plus 1,405 of loans, current maturities and long-term debt classified within liabilities held for sale. Including held-for-sale debt matches its corresponding assets inside consolidated total assets.
- Cash and cash equivalents use the reported 10,574 balance.
- Identifiable interest-bearing securities conservatively include the entire 509 short-term-investments line plus 2,630 of disclosed debt securities. The separately disclosed equity securities are excluded, and cash equivalents are not counted twice.
- Receivables use the reported 3,675 trade-accounts-receivable balance after allowances.
- Net operating revenues of 12,472, gross interest income of 222 and dividend income of 33 use the same three-month period ended April 3, 2026.
- The 255 income numerator treats all disclosed interest and dividend income as non-compliant for a conservative upper bound. It does not automatically classify equity-method operating income or every security gain as prohibited without evidence.
- Revenue is disclosed by concentrate and finished-product operations and by geography or operating segment, not by Sharia-screened alcohol activity, brand authorization, licensing arrangement, ingredient, product, or end use.
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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