MTZ
MasTec, Inc.
Is MTZ Halal?
Infrastructure construction is permissible, but the current contract-asset receivable proxy fails the examined MSCI-style asset screen.
What You Should Know
MasTec, Inc. builds and maintains communications, power-delivery, clean-energy, and pipeline infrastructure across North America. Its March 31, 2026 Form 10-Q reports assets of $10,441.515 million, interest-bearing debt of $2,532.307 million, cash of $273.672 million, and a contract-receivable proxy of $3,870.330 million that combines accounts receivable and contract assets. Debt/assets is 24.25%, liquidity/assets is 2.62%, and receivables-plus-cash/assets is 39.69%; the MSCI-style 33.33% receivables screen fails while FTSE and Malaysia-style known ratios pass. No reproducible gross non-compliant-income numerator is disclosed, so the result remains methodology-dependent and qualitative.
⚠️ Concerns
- •Receivables-plus-cash/assets is 39.69%, above the examined MSCI-style 33.33% limit
- •Debt/assets is 24.25%, below the examined 33% limits
- •Contract assets and project claims require a conservative receivable treatment
- •Pipeline, utility and energy end use remains qualitative
- •No reproducible gross non-compliant-income numerator is disclosed; re-screen after the next filing
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
2,532.307 / 10,441.515
273.672 / 10,441.515
4,144.002 / 10,441.515
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 24.25%, liquidity/assets is 2.62% and receivables-plus-cash/assets is 39.69%; known ratios pass the examined FTSE asset limits but the income numerator remains unavailable.
- Financial
- Fails
- Overall
- Fails
Debt/assets and liquidity/assets are below the examined MSCI limits, but receivables-plus-cash/assets is 39.69%, above the examined 33.33% limit.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 24.25% and liquidity/assets is 2.62%, below the examined Malaysia limits; this is not an official classification and business disclosure remains incomplete.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the MSCI-style receivables screen already fails.
Business-activity disclosure
MasTec builds and maintains communications, power-delivery, clean-energy and pipeline infrastructure. Infrastructure construction is generally permissible, while downstream end use, customer concentration and project obligations require qualitative review.
Limitation: The filing does not allocate revenue by downstream end use or provide a universal prohibited-revenue or non-compliant-income numerator.
Purification
The filing reports net interest expense and only an immaterial amount of interest income, but no reproducible gross non-compliant-income numerator; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from MasTec's March 31, 2026 Form 10-Q.
- Debt combines current long-term debt including finance leases of $156.007 million and long-term debt including finance leases of $2,376.307 million.
- Cash is $273.672 million; no separate interest-bearing securities balance is identified.
- The receivable proxy combines accounts receivable of $1,594.226 million and contract assets of $2,276.104 million because both represent amounts due under customer contracts.
- The filing reports net interest expense and only an immaterial amount of interest income; no reproducible gross non-compliant-income numerator is stored.
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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