RS
Reliance, Inc.
Is RS Halal?
Metals service-center processing and distribution are permissible, and the known asset-based ratios pass.
What You Should Know
Reliance processes and distributes carbon steel, aluminum, stainless steel and specialty metals to a broad customer base. Its March 31, 2026 Form 10-Q reports assets of $10,809.3 million, interest-bearing debt of $1,693.5 million, cash of $249.7 million and accounts receivable of $1,953.5 million. Debt/assets is 15.67%, liquidity/assets is 2.31% and receivables-plus-cash/assets is 20.38%; known ratios pass the examined FTSE, MSCI and Malaysia-style limits. The filing reports interest expense but no reproducible gross non-compliant-income numerator, so the result remains incomplete rather than an official classification.
⚠️ Concerns
- •Known debt/assets is 15.67%, below the examined 33% limits
- •Distribution model and industrial end use remain qualitative
- •No reproducible gross non-compliant-income numerator is disclosed
- •Inventory and metals-price cycles can change the balance-sheet ratios
- •Re-screen after the next filing or a material acquisition
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
1,693.5 / 10,809.3
249.7 / 10,809.3
2,203.2 / 10,809.3
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 15.67%, liquidity/assets is 2.31% and receivables-plus-cash/assets is 20.38%; known ratios pass but the income numerator remains unavailable.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables-plus-cash/assets are below the examined MSCI limits; business disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 15.67% and liquidity/assets is 2.31%, below the examined Malaysia limits; this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; known asset-based ratios pass but income and business inputs remain incomplete.
Business-activity disclosure
Reliance processes and distributes carbon steel, aluminum, stainless steel and specialty metals to a broad customer base. Metals distribution and processing are generally permissible, while downstream end use, inventory cycles and acquisition exposure 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 reports interest expense but no reproducible gross non-compliant-income numerator; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Reliance's March 31, 2026 Form 10-Q.
- Long-term debt is $1,693.5 million and no current maturity is reported at the period end.
- Cash and cash equivalents are $249.7 million; cash surrender value of life insurance is not treated as an interest-bearing security.
- Accounts receivable, net are $1,953.5 million.
- The filing reports interest expense but no reproducible gross non-compliant-income numerator.
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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