MOS

The Mosaic Co.

HALAL — METHODS DIFFERstock

Is MOS Halal?

Fertilizer (potash/phosphate) — agricultural inputs are permissible.

What You Should Know

Mosaic's March 31, 2026 filing shows debt/assets 22.48%, liquidity/assets 4.23%, receivables plus cash/assets 5.28%, and interest income/revenue 0.33%. Crop nutrients are generally permissible, while mining, remediation and restricted trust securities remain qualitative concerns.

⚠️ Concerns

  • Mining environmental impact
  • Phosphogypsum remediation
  • Restricted trust securities
  • Product/end-use revenue not quantified

Current quantitative Sharia screen

Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.

USD · millions
Interest-bearing debt / assets
22.48%Within limit
Below 33.333% under FTSE Yasaar

5,522.8 / 24,568.5

Cash + interest-bearing securities / assets
4.23%Within limit
Below 33.333% under FTSE Yasaar

1,039.8 / 24,568.5

Receivables + cash / assets
5.28%Within limit
Below 50% under FTSE Yasaar

1,297.7 / 24,568.5

Non-compliant income / revenue
0.33%Within limit
No more than 5% under FTSE Yasaar

10 / 2,998

FTSE Yasaar
v4.6, February 2026
Financial
Pass
Overall
Incomplete

Debt is 22.48%, liquidity is 4.23%, receivables plus cash is 5.28%, and interest income is 0.33%; each is below the examined FTSE thresholds. Business activity remains incomplete.

MSCI Islamic (total-assets series)
October 2024 methodology
Financial
Pass
Overall
Incomplete

Debt, liquidity and receivables plus cash are below the examined total-assets limits. This is not an index-membership claim; screened activity revenue remains undisclosed.

Malaysia SAC financial ratios
single 5% activity benchmark adopted November 2025
Financial
Pass
Overall
Incomplete

Debt and identifiable liquidity are below 33% of total assets. This is a calculation against SAC ratios, not an official classification; screened activity revenue remains unavailable.

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 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

Mosaic mines and manufactures phosphate and potash crop nutrients and operates related distribution businesses. Agricultural inputs are generally permissible, but product end use, mining obligations and the consolidated activity mix are not reduced to a universal Sharia revenue screen.

Limitation: Public reporting does not provide a reproducible prohibited-revenue numerator for product end use, industrial sales, mining by-products or other potentially screened categories.

Purification

Interest income is disclosed at 0.33% of quarterly net sales, but product-level screened revenue remains unavailable and no universal purification percentage is inferred.

Inputs, assumptions and primary sources
  • Debt combines $1,202.3 million of short-term debt, $49.4 million of current maturities and $4,271.1 million of long-term debt.
  • Cash is $281.8 million. Identifiable interest-bearing securities are $758 million of marketable debt securities held in RCRA trusts; they are restricted and are not treated as unrestricted operating cash.
  • Quarterly net sales are $2,998 million and interest income is $10 million; interest expense is shown separately.
  • The filing does not separately quantify a prohibited-revenue numerator for fertilizer products, mining, distribution, industrial end uses or environmental remediation activities.

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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