MATX
Matson Inc.
Is MATX Halal?
Ocean shipping — permissible maritime logistics.
What You Should Know
Matson provides container shipping and logistics in the Pacific. Permissible maritime transportation. Its March 31, 2026 Form 10-Q reports $4,583.0 million of assets, $351.1 million of interest-bearing debt, $100.1 million of cash, $257.9 million of receivables and $757.8 million of quarterly operating revenue. Debt/assets is 7.66%, liquidity/assets is 2.18%, receivables-plus-cash/assets is 7.81%, and disclosed interest income is 0.80% of revenue; financial ratios pass while cargo end uses and customer activities remain qualitative.
⚠️ Concerns
- •Cargo and customer end-use mix
- •Government and military-related contracts
- •Shipping industry cyclicality
- •Minor interest income
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
351.1 / 4,583
100.1 / 4,583
358 / 4,583
6.1 / 757.8
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 7.66%, liquidity/assets is 2.18%, receivables-plus-cash/assets is 7.81%, and disclosed income is 0.80% of revenue; business activity remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 7.66%, liquidity/assets is 2.18% and receivables-plus-cash/assets is 7.81%, below the examined MSCI limits; activity remains qualitative.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 7.66% and liquidity/assets is 2.18%; activity remains incomplete and this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
Matson provides ocean transportation and logistics services in the Pacific. The core activity is generally permissible, while cargo end uses, military or government contracts and customer activities require qualitative review.
Limitation: The filing does not allocate every cargo movement, customer or contract into a universal prohibited-activity numerator.
Purification
Matson discloses $6.1 million of interest income but does not provide a complete prohibited-activity numerator or scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Matson's March 31, 2026 Form 10-Q.
- Total debt is $351.1 million, consisting of fixed-interest debt; operating lease liabilities are excluded.
- Cash and cash equivalents are $100.1 million. Customer Credit Facility cash and investments are collateral balances and are not added to the separate interest-bearing-securities input without a security classification.
- Accounts receivable, net are $257.9 million and quarterly operating revenue is $757.8 million. Interest income is $6.1 million.
- Ocean transportation and logistics are generally permissible, but cargo end uses, military contracts and customer activities remain qualitative.
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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