ROAD
Construction Partners, Inc.
Is ROAD Halal?
Road construction and aggregates are permissible, but current interest-bearing debt is above the examined financial limits.
What You Should Know
Construction Partners builds and maintains roads and civil infrastructure and produces asphalt and aggregates across the southeastern United States. Its March 31, 2026 Form 10-Q reports assets of $3,438.757 million, interest-bearing debt of $1,749.199 million, cash of $76.860 million, restricted debt securities of $16.150 million, and a contract-receivable proxy of $580.189 million. Debt/assets is 50.87%, liquidity/assets is 2.70%, and receivables-plus-cash/assets is 19.11%; the debt screen fails under FTSE, MSCI and Malaysia-style asset tests. The filing describes interest income on restricted investments but does not provide a reproducible gross non-compliant-income numerator.
⚠️ Concerns
- •Debt/assets is 50.87%, above the examined 33% limits
- •Acquisition-related debt and public infrastructure budgets are material risks
- •Contract receivables, retainage and costs in excess of billings require conservative review
- •Interest income on restricted investments is not separately reproducible for purification
- •Re-screen after the next filing as acquisitions and debt change
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
1,749.199 / 3,438.757
93.01 / 3,438.757
657.049 / 3,438.757
- Financial
- Fails
- Overall
- Fails
Debt/assets is 50.87%, above the examined 33.333% limit; the income numerator remains unavailable.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 50.87%, above the examined MSCI limit; the asset-based screen fails.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 50.87%, above the examined Malaysia limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the debt screen already fails.
Business-activity disclosure
Construction Partners builds and maintains roads and related civil infrastructure and produces asphalt and aggregates. These activities are generally permissible, while public-budget dependence, claims and acquisition integration require qualitative review.
Limitation: The filing does not allocate revenue by downstream end use or provide a universal prohibited-revenue or non-compliant-income numerator.
Purification
The filing does not provide a reproducible gross non-compliant-income numerator; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Construction Partners' March 31, 2026 Form 10-Q.
- Debt combines current maturities of long-term debt of $38.500 million and long-term debt of $1,710.699 million.
- Cash is $76.860 million and restricted investments in debt securities are $16.150 million.
- The receivable proxy combines contracts receivable including retainage of $515.650 million and costs and estimated earnings in excess of billings of $64.539 million.
- The filing reports net interest expense and describes interest income on restricted investments, but no reproducible gross non-compliant-income numerator is stored.
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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