The Short Answer
Ball Corporation stock (BALL) is considered halal under standard Sharia screening. Manufacturing aluminum cans and other packaging is a clearly permissible activity with no haram revenue line of its own. The items to confirm are the balance sheet and the indirect end-use of some cans by beverage customers.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
7,807 / 19,770
730 / 19,770
3,634 / 19,770
10 / 3,603
- Financial
- Fails
- Overall
- Fails
Debt/assets is 39.49%, above the examined 33.333% limit; liquidity/assets is 3.69%.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 39.49%, above the examined MSCI 33.33% limit; liquidity and receivables-plus-cash remain below their limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 39.49%, above the examined Malaysia limit; this is not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the asset-based debt screen fails.
Business-activity disclosure
Ball manufactures aluminum beverage, aerosol and specialty packaging; the neutral packaging activity is generally permissible.
Limitation: The filing does not allocate revenue by customer end use or provide a universal prohibited-revenue numerator.
Purification
The filing discloses $10 million of interest income (0.28% 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 Ball's March 31, 2026 Form 10-Q.
- Debt combines current debt of $786 million and noncurrent long-term debt and capital-lease obligations of $7,021 million.
- Cash excludes separately disclosed restricted cash. Receivables use the filing's total net current receivables balance.
- Interest income of $10 million is the disclosed operating interest-income line; no universal prohibited-revenue numerator is disclosed.
- Packaging is generally permissible, but some customers may use cans for alcohol; the indirect end-use is qualitative.
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.
Ball is capital-intensive and carries debt, so its total-debt-to-market-cap ratio should be confirmed against the 33% threshold using the latest filings, and incidental interest income on cash should be checked against the 5% threshold and purified.
Sharia Screening Methodology
Islamic scholars use several criteria to screen stocks:
- Business activity screen: Is the company's primary business halal?
- Debt ratio: Total debt / market cap must be under 33%
- Interest income: Interest income / total revenue must be under 5%
- Haram revenue: Revenue from haram sources must be under 5%
- Receivables ratio: Total receivables / total assets must be under 49–70% (varies by board)
Ball's Business Activity
Ball Corporation is the world's largest producer of aluminum packaging. Its activity is:
- Beverage cans: Aluminum cans for soft drinks, water, and other beverages
- Aerosol & specialty: Aluminum aerosol and specialty packaging
- Sustainability: Recyclable, lightweight aluminum as a glass and plastic alternative
Making packaging is a clearly permissible activity; Ball sells neutral cans rather than the beverage inside them.
Why BALL Is Halal
1. Permissible Core Business
Producing aluminum packaging is a halal manufacturing business that supplies the consumer-goods supply chain. There is no gambling, conventional banking, or other prohibited line at the heart of the business.
2. Debt Ratio Is the Item to Watch
Ball is capital-intensive and carries debt, so confirm its total-debt-to-market-cap ratio sits under the 33% threshold on the latest filings before investing — this is the primary screening item.
3. Interest on Cash to Purify
Incidental interest income on cash should be confirmed against the 5% threshold and the corresponding small portion of returns purified. Some cans are sold to alcohol producers, an indirect end-use stricter investors may weigh.
Current Filing-Based Quantitative Screen
Ball's March 31, 2026 filing reports debt/assets of 39.49%, liquidity/assets of 3.69% and receivables-plus-cash/assets of 18.38%. Disclosed interest income is $10 million, or 0.28% of quarterly revenue.
- Debt/assets: 39.49%, above the examined 33.333% limits ❌
- Interest income/revenue: 0.28%; disclosed for transparency, not a purification ruling ⚠️
- Business activity: Aluminum packaging generally permissible; indirect end use remains qualitative ⚠️
Methodology Interpretation
Our reproducible asset-based calculations fail the FTSE Yasaar, MSCI and Malaysia debt limits. The market-cap denominator is not calculated; the qualitative packaging and indirect end-use assessment remains separate.
Bottom Line
Ball (BALL) is halal for Muslim investors when the debt screen passes. The packaging business is permissible; the main caveats are confirming total debt / market cap under 33% and noting that Ball sells neutral cans rather than the beverages inside them, while purifying the minor portion of returns attributable to interest income on cash.
For Muslim investors seeking materials and packaging exposure, compare BALL with peers like Crown Holdings (CCK) and Nucor (NUE).
Want to check if another stock is halal? Use our free screener.
Open Halal Checker →