SU
Suncor Energy Inc.
Is SU Halal?
Oil-sands and integrated energy company — asset ratios pass most methods, but the income and business screens remain incomplete.
What You Should Know
Suncor's 2025 Form 40-F reports debt/assets of 11.11%, liquidity/assets of 4.06%, and receivables plus cash/assets of 9.72%. Oil-sands extraction, refining, marketing, trading, emissions, water, reclamation, and Indigenous-rights impacts remain qualitative concerns, and a gross non-compliant-income numerator is not separately disclosed.
⚠️ Concerns
- •Oil-sands extraction, emissions, water, land and reclamation impacts
- •Refining, marketing, trading and derivative contracts
- •Gross purification numerator is unavailable
- •Worker safety, spills, climate transition and community impacts
Current quantitative Sharia screen
Based on 40-F figures for the period ended 2025-12-31; calculated 2026-07-14.
9,987 / 89,913
3,650 / 89,913
8,737 / 89,913
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 11.11%, liquidity/assets is 4.06%, and receivables plus cash/assets is 9.72%; the FTSE income input is unavailable and the business numerator remains undisclosed.
- Financial
- Pass
- Overall
- Incomplete
The calculated debt, liquidity, and receivables-plus-cash ratios are below the examined MSCI limits, but the business-activity percentage is not reproducible.
- Financial
- Pass
- Overall
- Incomplete
Debt and liquidity are below the examined Malaysia limits; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Not calculated
A licensed, reproducible 24- or 36-month market-cap series is not stored.
Business-activity disclosure
Suncor operates oil-sands, exploration and production, refining, marketing, and low-carbon businesses; the energy activities require qualitative review.
Limitation: The filing does not provide a school-neutral prohibited-revenue numerator for trading, derivatives, downstream products, financing, or environmental liabilities.
Purification
A gross non-compliant-income numerator is not separately disclosed in the selected 2025 filing data, so no purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are CAD millions from Suncor's 2025 Form 40-F.
- Interest-bearing debt uses reported borrowings of CAD 9,987 million, including current and non-current borrowings.
- Cash is CAD 3,650 million. No separate current interest-bearing securities balance was identified in the selected filing inputs.
- Revenue uses 2025 revenue of CAD 52,377 million. A gross non-compliant-income numerator is not separately disclosed in the selected filing data.
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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