PCG
PG&E Corp.
Is PCG Halal?
Electric utility — permissible but extreme debt and bankruptcy history.
What You Should Know
PG&E's March 31, 2026 filing reports debt/assets of 43.99%, liquidity/assets of 1.51%, receivables plus cash/assets of 4.44% and disclosed interest income/revenue of 1.69%. PG&E provides electricity and natural gas in Northern California, but bankruptcy history, wildfire liabilities, securitization structures and high debt remain material concerns.
⚠️ Concerns
- •Debt screen fails at 43.99% of assets
- •Bankruptcy history
- •Wildfire liabilities and insurance structures
- •Restricted trust assets excluded from liquidity
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
62,443 / 141,953
2,147 / 141,953
6,305 / 141,953
116 / 6,881
- Financial
- Fails
- Overall
- Fails
Debt is 43.99% of total assets, above the examined 33.333% limit; liquidity is 1.51%, receivables plus cash are 4.44% and disclosed interest income is 1.69%.
- Financial
- Fails
- Overall
- Fails
Debt is 43.99% of total assets, above the examined 33.33% limit; liquidity and receivables-plus-cash are below their examined limits. This is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt is 43.99% of total assets, above the examined 33% limit; identifiable liquidity is below 33%. 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 24- or 36-month issuer market-cap history is not stored, so market-cap methods are not estimated from a current spot price.
Business-activity disclosure
PG&E provides electric and natural-gas utility service, generally permissible in principle. The issuer's bankruptcy history, wildfire liabilities, securitization structures, regulated assets and financing require substantial qualitative review, and the filing does not provide a reproducible prohibited-activity numerator.
Limitation: The filing does not quantify a scholar-specific prohibited-revenue numerator for utility, financing, wildfire, insurance or environmental activities; this record is not an official Sharia classification.
Purification
Disclosed interest income is 1.69% of quarterly revenue, but ZakatInvest does not prescribe a fixed scholar-approved purification percentage and the business-activity numerator remains incomplete.
Inputs, assumptions and primary sources
- Interest-bearing debt combines 1,675 of short-term borrowings, 622 of current long-term debt and 60,146 of noncurrent long-term debt.
- Cash and cash equivalents are 1,131. Unrestricted short-term investments are 1,016; self-insurance investments, customer-credit trusts and nuclear-decommissioning trusts are restricted and excluded.
- Receivables combine 1,928 of customer accounts receivable, 1,436 of accrued unbilled revenue and 1,810 of other current receivables net of allowance; quarterly consolidated operating revenue is 6,881.
- The filing reports 116 of consolidated interest income, or 1.69% of quarterly revenue. No school-specific prohibited-revenue numerator is disclosed.
- Wildfire Fund assets, regulatory accounts and trust assets are not treated as unrestricted cash or interest-bearing securities.
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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