The Short Answer
BE is doubtful under the current filing-backed screen. Fuel-cell and hydrogen activity is generally permissible, but debt, liquidity and receivables-plus-cash ratios are all above the examined limits.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
2,602.635 / 4,664.729
2,491.433 / 4,664.729
2,850.839 / 4,664.729
20.601 / 751.054
- Financial
- Fails
- Overall
- Fails
Debt/assets is 55.79%, liquidity/assets is 53.41% and receivables plus cash/assets is 61.11%, all above the examined FTSE limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets, liquidity/assets and receivables plus cash/assets are above the examined MSCI limits.
- Financial
- Fails
- Overall
- Fails
Debt/assets is 55.79% and liquidity/assets is 53.41%, above the examined Malaysia SAC limits.
- Financial
- Not calculated
- Overall
- Fails
No licensed historical market-cap series is stored; the asset-based financial screens fail.
Business-activity disclosure
Bloom Energy develops solid-oxide fuel-cell systems, electrolyzers and distributed power solutions. Clean-energy technology is generally permissible, while debt structure and customer end use remain separate qualitative considerations.
Limitation: The filing does not allocate revenue into a universal prohibited-activity numerator, so no percentage is invented.
Purification
The filing discloses $20.601 million of interest income; ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Bloom Energy's March 31, 2026 Form 10-Q.
- Debt uses carrying value of recourse and nonrecourse debt; cash is unrestricted cash and cash equivalents.
- Quarterly revenue was $751.054 million and disclosed interest income was $20.601 million.
- Bloom Energy develops solid-oxide fuel-cell systems and hydrogen electrolyzers; the filing does not provide 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.
Business activity
Bloom Energy sells solid-oxide fuel-cell systems and electrolyzers for data centers, hospitals, manufacturing, retail and utility customers. The clean-energy activity is generally permissible; customer concentration and financing structure remain qualitative context.
What the filing changes
The March 31, 2026 filing reports $2.60 billion of debt and $2.49 billion of cash against $4.66 billion of assets. Debt/assets is 55.79%, liquidity/assets is 53.41% and receivables plus cash/assets is 61.11%. Disclosed interest income was $20.601 million.
Bottom line
BE remains doubtful. Revisit the ratios after the next filing and use the school or advisory-board standard you follow.