NRG
NRG Energy Inc.
Is NRG Halal?
Energy company — conventional fossil fuel and debt leverage.
What You Should Know
NRG is a power generation and energy-services company with a diverse fuel mix. Its March 2026 Form 10-Q reports $40,053 million of assets, $23,154 million of interest-bearing debt, $411 million of cash, $3,777 million of receivables and $10,256 million of quarterly revenue. Debt/assets is 57.81%, liquidity/assets is 1.03%, and receivables-plus-cash/assets is 10.46%; gross interest income and a universal prohibited-revenue numerator are not separately disclosed. Energy retail, generation, trading and smart-home activities remain qualitative concerns.
⚠️ Concerns
- •High debt leverage
- •Fossil fuels component
- •Energy trading and derivatives are not isolated
- •Smart-home and acquired gas activities require qualitative review
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
23,154 / 40,053
411 / 40,053
4,188 / 40,053
- Financial
- Fails
- Overall
- Fails
Debt/assets is 57.81%, above the examined 33.333% limit; liquidity/assets is 1.03% and receivables-plus-cash/assets is 10.46%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 57.81%, above the examined MSCI 33.33% limit; the activity and gross-interest inputs remain incomplete.
- Financial
- Fails
- Overall
- Fails
Debt/assets is above the examined Malaysia 33% limit; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the debt failure remains independently documented.
Business-activity disclosure
NRG supplies electricity and energy services through generation, retail, trading and smart-home operations. Electricity service is generally permissible, but fossil-fuel generation, derivative trading, acquired gas assets and ancillary services require qualitative review.
Limitation: The filing does not provide a universal prohibited-revenue numerator or a separately quantified gross interest-income balance for all consolidated activities.
Purification
NRG does not separately disclose gross interest income or prohibited activity revenue; ZakatInvest does not invent a purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from NRG Energy's March 31, 2026 Form 10-Q.
- Interest-bearing debt is $3,375 million of current debt and finance leases plus $19,779 million of long-term debt and finance leases; the filing presents these obligations together.
- Cash and cash equivalents are $178 million; $176 million of funds deposited by counterparties and $57 million of restricted cash are included conservatively in liquidity.
- Accounts receivable are $3,777 million; other operating and derivative balances are not added.
- Revenue is $10,256 million for the three months ended March 31, 2026. The filing discusses higher interest income within other income but does not provide an exact gross interest-income line.
- NRG's energy retail, power-generation, trading, acquired gas and smart-home activities are not reduced to a universal prohibited-revenue numerator.
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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