VLO
Valero Energy Corp.
Is VLO Halal?
Oil refiner — financial ratios pass but refining and ethanol activity remain methodology-dependent.
What You Should Know
Valero's March 31, 2026 filing reports debt/assets of 18.49%, liquidity/assets of 9.23% and receivables plus cash/assets of 30.81%; gross interest income is not separately disclosed. Petroleum refining, ethanol and renewable-fuel activities require scholar-specific review even though the examined financial ratios pass.
⚠️ Concerns
- •Refining and petroleum products require activity review
- •Ethanol and renewable-fuel production
- •Accounts-receivable sales and finance-lease structures
- •Gross interest income and a universal prohibited-revenue numerator are unavailable
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-14.
11,491 / 62,142
5,733 / 62,142
19,143 / 62,142
- Financial
- Incomplete
- Overall
- Incomplete
Debt is 18.49% of total assets, liquidity is 9.23% and receivables plus cash are 30.81%, below the examined limits; gross interest income is unavailable, so the FTSE-style financial result remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt is 18.49%, liquidity is 9.23% and receivables plus cash are 30.81% of total assets, below the examined MSCI total-assets limits; business classification remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 18.49% and liquidity/assets is 9.23%, below the examined Malaysia SAC limits; business activity remains incomplete and this is not an official classification.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible 24- or 36-month issuer market-cap history is not stored, so market-cap methods are not estimated from a current spot price.
Business-activity disclosure
Valero refines petroleum and produces and markets renewable diesel, ethanol and other fuels. Refining and renewable-fuel activities may be viewed differently across scholars, while fossil-fuel products, ethanol, commodity contracts, environmental liabilities and finance leases require qualitative review.
Limitation: The filing does not allocate revenue into a universal prohibited-revenue numerator by product, end use or customer; no exact activity percentage is asserted.
Purification
Gross interest income is not separately disclosed and no scholar-approved purification percentage is prescribed; no fixed amount is estimated.
Inputs, assumptions and primary sources
- Amounts are USD millions from Valero's March 31, 2026 Form 10-Q.
- Interest-bearing debt includes $1,026 million of current debt and finance lease obligations and $10,465 million of debt and finance lease obligations less current portion; operating leases are excluded.
- Cash and cash equivalents are $5,733 million. Benefit-plan investments and separately restricted assets are not added as unrestricted interest-bearing securities.
- Receivables, net are $13,410 million and first-quarter revenue is $32,381 million.
- The filing does not separately disclose gross interest income or 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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