PWR
Quanta Services, Inc.
Is PWR Halal?
Electric, renewable-energy, communications, water and utility infrastructure construction are generally permissible, and the current asset-based financial ratios pass; project-level revenue allocation remains incomplete.
What You Should Know
Quanta Services' March 31, 2026 Form 10-Q reports $25,746.618 million of total assets, $5,891.614 million of interest-bearing debt, $364.761 million of cash, $7,597.966 million of net accounts receivable and $7,874.787 million of quarterly revenue. Those inputs produce debt/assets of 22.88%, liquidity of 1.42%, receivables plus cash/assets of 30.93% and disclosed interest income/revenue of 0.04%, so the examined asset-based financial screens pass. Quanta's electric, renewable-energy, communications, water, wastewater, pipeline and data-center infrastructure services are generally permissible at the activity level, but the filing does not allocate a universal prohibited-revenue numerator by project or end use. This is a current ZakatInvest calculation, not an index-membership claim.
⚠️ Concerns
- •Debt/assets of 22.88%, liquidity of 1.42% and receivables plus cash/assets of 30.93% pass the examined asset-based limits, but acquisitions, backlog execution and debt repayment can change the screen
- •The filing reports $2.908 million of interest income, or 0.04% of revenue; no fixed scholar-approved purification rate is asserted
- •Electric Infrastructure serves investor-owned, municipal and cooperative utilities; Quanta's construction role is distinct from operating a utility or financing customers
- •Underground and Infrastructure includes natural-gas distribution, communications, water, wastewater and pipeline-integrity work; some scholars may apply additional environmental or end-use scrutiny
- •Renewable-energy and data-center electrical construction are growing end markets, while project-level customer and end-use allocation remains qualitative
- •Cupertino Electric, ECG and other acquisitions can change the consolidated business perimeter and leverage profile
- •Market-cap denominator methods are not calculated without a licensed historical market-cap series
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
5,891.614 / 25,746.618
364.761 / 25,746.618
7,962.727 / 25,746.618
2.908 / 7,874.787
- Financial
- Pass
- Overall
- Incomplete
Debt is 22.88%, liquidity is 1.42%, receivables plus cash are 30.93% and disclosed interest income is 0.04%; the examined financial ratios pass, while business revenue remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt, liquidity, receivables plus cash and disclosed interest income pass the examined total-assets limits; no universal prohibited-revenue numerator is disclosed. This is a calculation against the named method, not an index-membership claim.
- Financial
- Pass
- Overall
- Incomplete
Debt is 22.88% and identifiable liquidity is 1.42% of total assets; the infrastructure-services activity is generally permissible, but screened business revenue remains undisclosed. 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
Quanta provides electric transmission and distribution, renewable-energy, underground utility, communications, water and wastewater, pipeline and data-center electrical construction and maintenance services. These general-purpose infrastructure services are generally permissible at the activity level.
Limitation: Public segment reporting does not provide a reproducible prohibited-revenue numerator by customer, project end use or infrastructure category, so no unsupported haram-revenue percentage is estimated.
Purification
Disclosed interest income is 0.04% of quarterly revenue and passes the examined income threshold, but no fixed scholar-approved purification rate is asserted and business-revenue allocation remains incomplete.
Inputs, assumptions and primary sources
- Assets use Quanta's consolidated total assets of $25,746.618 million at March 31, 2026.
- Interest-bearing debt uses the filing's $5,891.614 million total long-term debt obligations, including current maturities, borrowings, commercial paper and finance/lease debt; operating lease liabilities are not silently added.
- Cash uses $364.761 million of cash and cash equivalents. Money-market investments inside cash equivalents are not double-counted as separate securities.
- Accounts receivable uses $7,597.966 million of net accounts receivable; contract assets and retainage reported in other assets are not silently added.
- Quarterly revenue is $7,874.787 million and separately disclosed interest income is $2.908 million, or 0.04% of revenue.
- The filing does not allocate a universal prohibited-revenue numerator by utility, pipeline, energy, data-center or end use.
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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