NTR
Nutrien Ltd.
Is NTR Halal?
Crop nutrients, agricultural retail, seed and crop-protection products are generally permissible, while Nutrien Financial and industrial/feed phosphate end use require qualitative review.
What You Should Know
Nutrien's March 31, 2026 interim filing reports $53,923 million of total assets, $12,627 million of interest-bearing debt, $777 million of cash, $6,284 million of receivables and $6,046 million of quarterly sales. Those inputs produce debt/assets of 23.42%, liquidity of 1.44% and receivables plus cash/assets of 13.07%. Retail disclosure includes $80 million of Nutrien Financial sales; that is used as a conservative upper-bound finance-income proxy equal to 1.32% of sales, not asserted to be pure interest income. Crop nutrients, agricultural retail, seed and crop-protection products are generally permissible, while financing contracts and industrial/feed phosphate end use remain qualitative review topics. This is a current ZakatInvest calculation, not an index-membership claim.
⚠️ Concerns
- •Debt/assets of 23.42%, liquidity of 1.44% and receivables plus cash/assets of 13.07% pass the examined asset-based limits
- •Nutrien Financial sales of $80 million are a conservative upper-bound proxy for potentially non-compliant finance income; contract structure and service-fee treatment require separate review
- •Phosphate sales include industrial and feed products, but the filing does not quantify product end use for a universal prohibited-revenue screen
- •Strategic reviews of the Phosphate business, Trinidad Nitrogen facility and Brazilian Retail business could change the business perimeter
- •Fertilizer and crop-input cycles are exposed to prices, weather, natural-gas costs, tariffs, supply and geopolitical trade flows
- •Market-cap denominator methods are not calculated without a licensed historical market-cap series
Current quantitative Sharia screen
Based on 6-K figures for the period ended 2026-03-31; calculated 2026-07-13.
12,627 / 53,923
777 / 53,923
7,061 / 53,923
80 / 6,046
- Financial
- Pass
- Overall
- Incomplete
Debt is 23.42%, liquidity is 1.44%, receivables plus cash are 13.07% and the Nutrien Financial upper-bound income proxy is 1.32%; the examined financial ratios pass, while business and contract allocation remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity and receivables plus cash pass the examined MSCI total-assets limits. Nutrien Financial and industrial/feed phosphate end-use allocation remain qualitative; this is a calculation against the named method, not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt is 23.42%, liquidity is 1.44% and the finance-income upper-bound proxy is 1.32%; business and contract allocation remains incomplete. This is a calculation against SAC ratios, not an official classification of a U.S.-listed security.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Nutrien provides crop inputs and services through Retail, Potash, Nitrogen and Phosphate segments. Its disclosed activities include crop nutrients, crop-protection products, seed, agricultural retail, potash, ammonia, urea, nitrogen solutions, phosphate fertilizer, industrial and feed products, and Nutrien Financial.
Limitation: The filing does not provide a universal prohibited-revenue numerator by product end use, industrial or feed phosphate application, customer, or financing contract. Nutrien Financial is separately identified but its income is not decomposed into a scholar-specific riba taxonomy.
Purification
Nutrien Financial sales are used only as a conservative upper-bound proxy and the filing does not isolate interest income or provide a universal prohibited-revenue numerator or scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Inputs use Nutrien's March 31, 2026 interim financial statements filed on Form 6-K; amounts are USD millions.
- Assets use reported total assets of $53,923 million. Cash and cash equivalents were $777 million and receivables were $6,284 million.
- Debt uses $2,766 million of short-term debt, $1,036 million of current long-term debt and $8,825 million of long-term debt. Lease liabilities are not silently added as conventional debt.
- No separately disclosed interest-bearing securities balance is entered; the $146 million investments line is not assumed to be cash-equivalent securities without instrument detail.
- Quarterly sales were $6,046 million. Retail product-line disclosure includes $80 million of Nutrien Financial sales, with a $20 million intersegment elimination; $80 million is used as a conservative upper-bound finance-income proxy, not asserted to be pure interest income.
- The filing does not allocate a reproducible prohibited-revenue numerator across crop nutrients, crop protection, seed, industrial or feed phosphate products, customer end use or financing contracts. No unsupported haram-revenue percentage is asserted.
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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