NEE
NextEra Energy Inc.
Is NEE Halal?
Utility and renewable-energy core is generally permissible, but current debt/assets fails the examined financial screens.
What You Should Know
NextEra provides regulated electricity, natural-gas service and renewable-energy, storage and infrastructure projects. Its March 31, 2026 filing reports debt/assets of 47.15%, identifiable liquidity/assets of 1.89% and receivables plus cash/assets of 3.75%. Gross interest income and a universal prohibited-revenue numerator are not separately disclosed, so utility financing and investment activity remain qualitative and methodology-dependent beyond the debt failure.
⚠️ Concerns
- •Debt/assets is 47.15% and exceeds the examined FTSE, MSCI and Malaysia limits
- •Commercial paper, long-term debt, VIE guarantees and tax-equity structures require review
- •Special-use funds, nuclear, renewable and infrastructure investments require methodology-specific treatment
- •Natural-gas, nuclear, environmental, land-use and customer-affordability questions remain qualitative
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
104,403 / 221,424
4,180 / 221,424
8,305 / 221,424
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.15%, above the 33.333% limit; liquidity/assets is 1.89% and receivables plus cash/assets is 3.75%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.15%, above the examined 33.33% limit; liquidity and receivables-plus-cash remain below their limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 47.15%, above the examined Malaysia SAC limit; identifiable liquidity/assets is below its limit. This is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
No licensed historical market-cap series is stored; the asset-based screens fail on debt/assets.
Business-activity disclosure
NextEra provides regulated electric service, natural gas service and renewable-energy, storage and infrastructure projects. Electricity and clean-energy infrastructure are generally permissible, while conventional financing, regulated contracts, derivatives, VIEs and investment funds require methodology-specific review.
Limitation: The filing does not provide a universal prohibited-revenue numerator or separately disclose gross interest income across regulated utility, renewable-energy, investment and financing activities.
Purification
Gross interest income is not separately disclosed and the activity screen is incomplete; no fixed scholar-approved purification percentage is prescribed.
Inputs, assumptions and primary sources
- Amounts are USD millions from NextEra's March 31, 2026 Form 10-Q and rounded to the nearest million.
- Debt includes commercial paper of $5,360 million, other short-term debt of $1,258 million, current long-term debt of $3,837 million and long-term debt of $93,948 million; operating lease liabilities are excluded.
- Cash is $1,998 million. Identifiable interest-bearing securities use $2,182 million of other investments described primarily as debt securities; special-use funds and equity-method investments are excluded.
- Accounts receivable combines customer receivables of $4,131 million and other receivables of $2,176 million. Quarterly operating revenue is $6,701 million.
- Gross interest income and a universal prohibited-revenue numerator are not separately disclosed; consolidated VIE balances are included transparently.
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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