UUUU
Energy Fuels Inc.
Is UUUU Halal?
Uranium mining — nuclear fuel extraction.
What You Should Know
Energy Fuels mines and processes uranium and rare-earth materials. Its March 2026 Form 10-Q reports $1,458.663 million of assets, $676.688 million of convertible notes, $131.102 million of cash and restricted cash, $788.630 million of marketable debt securities, $7.596 million of receivables and $35.838 million of quarterly revenue. Debt/assets is 46.39%, liquidity/assets is 63.05%, receivables-plus-cash/assets is 9.51%, and disclosed interest income and other is 4.83%; the securities portfolio and extraction activities require continuing scholar review.
⚠️ Concerns
- •Uranium and rare-earth extraction
- •Marketable debt securities are a material asset balance
- •Convertible-note leverage
- •Nuclear and mining environmental debate
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
676.688 / 1,458.663
919.732 / 1,458.663
138.698 / 1,458.663
1.731 / 35.838
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.39% and liquidity/assets is 63.05%, each above the examined 33.333% limits; receivables-plus-cash/assets is 9.51%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.39% and liquidity/assets is 63.05%, above the examined MSCI 33.33% limits; disclosed interest income is 4.83% of revenue.
- Financial
- Fails
- Overall
- Fails
Debt/assets and liquidity/assets exceed the examined Malaysia 33% limits; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the debt and liquidity failures remain independently documented.
Business-activity disclosure
Energy Fuels mines and processes uranium and rare-earth materials and holds a large marketable-securities portfolio. Mining and nuclear-fuel questions are subject to scholarly interpretation; the portfolio and end uses require qualitative review.
Limitation: The filing does not provide a universal prohibited-activity numerator for mining, nuclear-fuel customers or securities income.
Purification
Energy Fuels discloses $1.731 million of interest income, net and other, but does not provide a complete prohibited-activity numerator; no definitive purification percentage is invented.
Inputs, assumptions and primary sources
- Amounts are USD millions from Energy Fuels' March 31, 2026 Form 10-Q.
- Interest-bearing debt is the $676.688 million convertible senior notes balance.
- Cash and restricted cash total $131.102 million. Marketable debt securities total $788.630 million and are included as interest-bearing securities; marketable equity securities are excluded.
- Accounts receivable are $7.596 million.
- Revenue is $35.838 million for the three months ended March 31, 2026; interest income, net and other is $1.731 million.
- Uranium, rare-earth and heavy-mineral operations plus the securities portfolio are not reduced to a universal prohibited-revenue 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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