WLK
Westlake Corporation
Is WLK Halal?
Petrochemicals and building-products manufacturer — a permissible materials business, with cyclical debt to screen.
What You Should Know
Westlake Corporation manufactures petrochemicals, polymers, and building products. Its March 31, 2026 Form 10-Q reports assets of $19,707 million, interest-bearing debt of $5,570 million, cash of $2,271 million, interest-bearing securities of $205 million, receivables of $1,480 million and quarterly revenue of $2,652 million. Debt/assets is 28.26%, liquidity/assets is 12.56% and receivables-plus-cash/assets is 19.03%; the examined asset-based financial ratios pass, while end-use and prohibited-revenue allocation remain incomplete. Disclosed interest income is $28 million (1.06% of revenue).
⚠️ Concerns
- •Known interest-bearing debt/assets is 28.26%, below examined 33.333% limits but sensitive to future filings
- •Disclosed interest income is 1.06% of quarterly revenue; no fixed purification percentage is asserted
- •Construction and industrial end uses require qualitative review
- •Cyclical demand and acquisition/capacity spending can change the balance sheet
- •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.
5,570 / 19,707
2,476 / 19,707
3,751 / 19,707
28 / 2,652
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 28.26%, liquidity/assets is 12.56% and receivables-plus-cash/assets is 19.03%; financial ratios pass, while business disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables-plus-cash/assets are below the examined MSCI limits; business disclosure remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 28.26% and liquidity/assets is 12.56%, below the examined Malaysia limits; this is not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; asset-based financial ratios pass but business disclosure remains incomplete.
Business-activity disclosure
Westlake manufactures petrochemicals, polymers and building products; the industrial materials activity is generally permissible.
Limitation: The filing does not allocate revenue by prohibited end use or provide a universal prohibited-revenue numerator.
Purification
The filing discloses $28 million of interest income (1.06% of revenue); treatment is disclosed for transparency, but no scholar-approved purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Westlake's March 31, 2026 Form 10-Q.
- Debt combines current debt of $496 million and long-term debt of $5,074 million; operating lease liabilities are excluded.
- Cash excludes $17 million of restricted cash. Interest-bearing securities use current available-for-sale debt securities of $205 million.
- Receivables combine accounts receivable and other receivables; an income-tax receivable is excluded from the proxy.
- Interest income of $28 million is the disclosed other-interest-income line (1.06% of revenue); no universal prohibited-revenue numerator is disclosed.
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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