SLGN
Silgan Holdings Inc.
Is SLGN Halal?
Rigid-packaging maker — a permissible manufacturing business, with a leveraged balance sheet to screen.
What You Should Know
Silgan Holdings Inc. manufactures rigid metal and plastic packaging, closures and dispensing systems. Its March 31, 2026 Form 10-Q reports assets of $9,322.279 million, interest-bearing debt of $4,660.447 million, cash of $435.429 million and trade receivables of $1,158.680 million. Debt/assets is 49.99%, liquidity/assets is 4.67% and receivables-plus-cash/assets is 17.10%; the debt screen fails. The filing does not provide a reproducible gross non-compliant-income numerator, while indirect beverage end use remains qualitative.
⚠️ Concerns
- •Debt/assets is 49.99%, above examined 33% limits
- •Some packaging may be sold to beverage customers that include alcohol producers; this is an indirect end-use question
- •No reproducible gross non-compliant-income numerator is disclosed
- •Seasonal working capital and acquisition debt can move leverage
- •Re-screen the financial ratios periodically
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
4,660.447 / 9,322.279
435.429 / 9,322.279
1,594.109 / 9,322.279
- Financial
- Fails
- Overall
- Fails
Debt/assets is 49.99%, above the examined 33.333% limit; packaging activity remains qualitative.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 49.99%, above the examined MSCI limit; the asset-based screen fails.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 49.99%, 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
Silgan manufactures rigid metal and plastic packaging, closures and dispensing systems for food, beverage, personal-care and household markets. Packaging is generally permissible, while indirect end use remains qualitative.
Limitation: The filing does not allocate revenue by downstream end use or provide a universal prohibited-revenue or non-compliant-income numerator.
Purification
No reproducible gross non-compliant-income numerator is disclosed; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are converted from USD thousands in Silgan's March 31, 2026 Form 10-Q to USD millions.
- Debt combines revolving loans and current long-term debt of $988.323 million and long-term debt of $3,672.124 million.
- Cash is $435.429 million; no separate interest-bearing securities balance is identified.
- Trade accounts receivable, net are $1,158.680 million.
- The filing does not provide a reproducible gross non-compliant-income numerator; packaging activity and indirect customer end use remain qualitative.
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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