Is TTE (TotalEnergies SE) halal?

Q: Is TTE (TotalEnergies SE) halal?

DOUBTFUL: Oil and gas major — financial ratios pass, but prohibited-activity allocation is unresolved. TotalEnergies' Q1 2026 balance sheet is below the examined debt, liquidity and receivables limits, while the filing does not allocate oil, gas, refining, trading or end-use revenue into a school-neutral prohibited-activity numerator.

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TTE

TotalEnergies SE

DOUBTFUL — DATA INCOMPLETEstock

Is TTE Halal?

Oil and gas major — financial ratios pass, but prohibited-activity allocation is unresolved.

What You Should Know

TotalEnergies' Q1 2026 balance sheet is below the examined debt, liquidity and receivables limits, while the filing does not allocate oil, gas, refining, trading or end-use revenue into a school-neutral prohibited-activity numerator.

⚠️ Concerns

•Environmental concerns
•Minor interest income

Current quantitative Sharia screen

Based on Q1 2026 results press release figures for the period ended 2026-03-31; calculated 2026-07-14.

USD · millions

Interest-bearing debt / assets

17.19%Within limit

Below 33.333% under FTSE Yasaar

54,064 / 314,562

Cash + interest-bearing securities / assets

10.41%Within limit

Below 33.333% under FTSE Yasaar

32,743 / 314,562

Receivables + cash / assets

15.47%Within limit

Below 50% under FTSE Yasaar

48,670 / 314,562

Non-compliant income / revenue

0.45%Within limit

No more than 5% under FTSE Yasaar

222 / 49,516

Methodology	Financial	Overall	What drives it
FTSE Yasaar v4.6, February 2026	Pass	Incomplete	Debt/assets is 17.19%, liquidity/assets is 10.41%, receivables plus cash/assets is 15.47% and disclosed financial income is 0.45% of revenue; financial ratios pass, but prohibited-activity classification remains incomplete.
MSCI Islamic (total-assets series) October 2024 methodology	Pass	Incomplete	Debt/assets, liquidity/assets and receivables plus cash/assets are below the examined MSCI total-assets limits, but prohibited-activity classification remains incomplete.
Malaysia SAC financial ratios single 5% activity benchmark adopted November 2025	Pass	Incomplete	Debt/assets and liquidity/assets are below the examined Malaysia limits; business classification remains incomplete and this is not an official SAC classification.
Market-cap denominator methods MSCI M-Series, S&P and Dow Jones methods differ	Not calculated	Incomplete	Historical market-cap inputs are not stored and the energy/trading activity is not mapped to a scholar-approved market-cap convention.

FTSE Yasaar

v4.6, February 2026

Financial: Pass
Overall: Incomplete

Debt/assets is 17.19%, liquidity/assets is 10.41%, receivables plus cash/assets is 15.47% and disclosed financial income is 0.45% of revenue; financial ratios pass, but prohibited-activity classification remains incomplete.

MSCI Islamic (total-assets series)

October 2024 methodology

Financial: Pass
Overall: Incomplete

Debt/assets, liquidity/assets and receivables plus cash/assets are below the examined MSCI total-assets limits, but prohibited-activity classification remains incomplete.

Malaysia SAC financial ratios

single 5% activity benchmark adopted November 2025

Financial: Pass
Overall: Incomplete

Debt/assets and liquidity/assets are below the examined Malaysia limits; business classification remains incomplete and this is not an official SAC classification.

Market-cap denominator methods

MSCI M-Series, S&P and Dow Jones methods differ

Financial: Not calculated
Overall: Incomplete

Historical market-cap inputs are not stored and the energy/trading activity is not mapped to a scholar-approved market-cap convention.

Business-activity disclosure

TotalEnergies operates in oil, gas, LNG, refining, chemicals, trading and renewables. Productive energy activity is assessed differently by scholars, while environmental externalities, derivatives and end use cannot be resolved from aggregate revenue disclosure.

Limitation: The filing does not provide a reproducible prohibited-activity revenue numerator for energy products, trading, derivatives or end uses.

Purification

TotalEnergies discloses financial income, but ZakatInvest does not infer a scholar-approved purification percentage from the aggregate line.

Inputs, assumptions and primary sources

Amounts are USD millions from TotalEnergies' Q1 2026 results.
Debt is current borrowings of USD 10,596 million plus non-current financial debt of USD 43,468 million; financial assets used for the liquidity numerator are current and non-current financial assets of USD 4,173 million and USD 2,877 million.
Trade and other accounts receivable are USD 22,977 million, Q1 sales revenue is USD 49,516 million and the filing discloses USD 222 million of financial income from cash and cash equivalents.
The filing does not allocate revenue by prohibited end use, environmental externality, derivative or commodity-trading contract.

TotalEnergies SE: TotalEnergies first quarter 2026 results press release FTSE Russell: FTSE Yasaar Global Equity Shariah Index Series Ground Rules MSCI: MSCI Islamic Index Series Methodology Securities Commission Malaysia: Shariah-Compliant Securities Screening Methodology

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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