The Short Answer
ATI stock (ATI) is currently doubtful under the tracked asset-based screens. Specialty-metals manufacturing is generally permissible, but debt/assets is above the 33% limits in the March 2026 filing; aerospace and defense end markets also require qualitative review.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-29; calculated 2026-07-15.
1,827.9 / 5,234.1
401.7 / 5,234.1
1,066.1 / 5,234.1
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.92%, above the examined 33.333% limit; liquidity/assets is 7.67% and receivables plus cash/assets is 20.37%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.92%, above the examined 33.33% total-assets limit; the other known ratios are below their limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 34.92%, above the examined 33% limit; this is not an official SAC classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the asset-based debt screen already fails.
Business-activity disclosure
ATI produces titanium, nickel-based and other specialty alloys for aerospace, defense, medical, energy and industrial customers. Advanced-materials manufacturing is generally permissible, while defense and end-use exposure is not completely separated in the filing.
Limitation: The filing reports end markets but does not quantify a scholar-approved prohibited-activity numerator for defense, government or other customer uses.
Purification
A separate gross interest-income amount is not available in the extracted filing statement, so no scholar-approved purification percentage is inferred.
Inputs, assumptions and primary sources
- Amounts are USD millions from ATI's March 29, 2026 Form 10-Q.
- Debt combines $33.2 million of short-term/current debt and $1,794.7 million of long-term debt; operating leases are excluded.
- Cash and cash equivalents are $401.7 million; no separate interest-bearing securities balance is identified.
- Accounts receivable, net are $664.4 million and quarterly sales are $1,151.5 million.
- A separate gross interest-income numerator is not disclosed in the extracted filing statement.
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.
What ATI Does
ATI produces titanium, nickel-based and other specialty alloys for aerospace, defense, medical, energy and industrial customers. Advanced-materials manufacturing is generally permissible, but the public filing does not quantify a universal prohibited-activity numerator for defense or government end uses.
Current Quantitative Screen
The March 29, 2026 Form 10-Q reports $5,234.1 million of assets, $1,827.9 million of interest-bearing debt, $401.7 million of cash and $664.4 million of accounts receivable.
- Debt/assets: 34.92% — above the 33.333% FTSE, 33.33% MSCI and 33% Malaysia limits.
- Liquidity/assets: 7.67% — below the examined limits.
- Receivables plus cash/assets: 20.37% — below the examined limits.
- Interest income: a separate gross numerator is not disclosed, so the FTSE income test is incomplete.
The binding leverage screen fails each tracked asset-based methodology.
Purification and Qualitative Review
No fixed purification percentage is inferred without a separate interest-income amount. Investors who treat defense exposure differently should apply their chosen scholarly standard separately.
Bottom Line
ATI is doubtful at this review date: the business is generally permissible, but debt/assets is above the tracked limits. Re-screen after a newer filing or refinancing.