NUE
Nucor Corporation
Is NUE Halal?
Steel, recycling and industrial products are broadly permissible, and Nucor's April 2026 filing passes the examined asset-based financial screens.
What You Should Know
Nucor's April 4, 2026 Form 10-Q reports $35,635M total assets, $7,124M of debt and finance-lease obligations, $2,226M cash, $255M short-term investments, $3,567M accounts receivable and $9,496M quarterly net sales. ZakatInvest calculates debt/assets 19.99%, cash plus identifiable short-term investments/assets 6.96%, receivables plus cash/assets 16.26% and gross disclosed interest income/revenue 0.21%. Nucor's steel mills, steel products, scrap brokerage and direct-reduced-iron operations are broadly permissible industrial activity. The filing does not quantify defense, infrastructure or other downstream end-use revenue into a universal prohibited-revenue numerator.
⚠️ Concerns
- •The debt input combines conventional debt with finance-lease obligations as a conservative carrying-value proxy
- •Steel prices, tariffs, energy costs, environmental regulation, capacity utilization and cyclical demand can change financial ratios
- •General-purpose steel can enter defense or military supply chains, but Nucor is a materials supplier rather than a weapons producer
- •Raw-materials operations include scrap brokerage, processing, direct-reduced iron and natural-gas operations
- •Interest income is disclosed separately, but no fixed purification percentage is asserted
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-04-04; calculated 2026-07-13.
7,124 / 35,635
2,481 / 35,635
5,793 / 35,635
20 / 9,496
- Financial
- Pass
- Overall
- Incomplete
Debt/assets are 19.99%, cash plus identifiable short-term investments are 6.96%, receivables plus cash are 16.26% and gross interest income is 0.21%; the reported financial ratios are below the examined FTSE limits, while downstream business-use disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, identifiable liquidity, receivables plus cash and disclosed interest income are below the examined MSCI total-assets limits. This is not an index-membership claim; final end-use classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets are 19.99% and identifiable conventional liquidity is 6.96%, below the examined Malaysia SAC financial limits. This is a contextual calculation, 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 no unsupported market-cap percentage is substituted for the filing-backed asset-based calculation.
Business-activity disclosure
Nucor operates steel mills, steel-products businesses and a raw-materials segment that includes scrap brokerage and processing, direct-reduced iron and natural-gas operations. Steel, recycling and industrial building products are broadly permissible activities, but the filing does not allocate defense, infrastructure, downstream construction or other end uses into a school-specific prohibited-revenue numerator.
Limitation: Nucor reports product and segment categories rather than the final use of every steel shipment. Commodity steel can enter construction, transportation, energy, government or defense supply chains, so no universal prohibited percentage can be inferred from the filing.
Purification
Nucor discloses $20 million of gross interest income, or 0.21% of quarterly sales, but does not prescribe a scholar-approved purification percentage. Downstream end-use classification remains incomplete, so no fixed prescription is asserted.
Inputs, assumptions and primary sources
- Inputs use Nucor's April 4, 2026 Form 10-Q; amounts are USD millions.
- Debt uses short-term debt of $134 million, current long-term debt and finance-lease obligations of $113 million, and long-term debt and finance-lease obligations of $6,877 million. The filing combines finance leases with debt; that combined carrying amount is used conservatively and operating liabilities are excluded.
- Cash uses $2,226 million of cash and cash equivalents. Identifiable short-term investments use $255 million; derivatives and other assets are excluded.
- Receivables use $3,567 million of net accounts receivable. Inventories, other current assets and long-lived operating assets are excluded.
- Net sales were $9,496 million for the thirteen weeks ended April 4, 2026. The filing separately reports $20 million of interest income and $39 million of interest expense, producing $19 million of net interest expense; gross interest income is used as the disclosed-income numerator, or 0.21% of sales.
- External sales were steel mills $6,036 million, steel products $2,786 million and raw materials $674 million. The filing does not provide a universal prohibited-revenue numerator for defense, downstream construction or other end uses.
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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