The short answer
Constellation Energy is HALAL in ZakatInvest's qualitative activity classification, with an incomplete overall screen pending a prohibited-revenue and standalone interest-income numerator. Its disclosed debt, liquidity and receivables ratios are below the examined asset-based financial limits.
This is a reproducible research screen, not a fatwa or investment recommendation. Readers should apply their school's principles and consult a qualified scholar for a binding ruling.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-13.
22,466 / 96,911
800 / 96,911
5,214 / 96,911
- Financial
- Incomplete
- Overall
- Incomplete
Debt is 23.19%, liquidity is 0.83% and receivables plus cash are 5.38%, below the examined FTSE asset limits. Standalone interest income is not disclosed, so the income component remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt is 23.19%, liquidity is 0.83% and receivables plus cash are 5.38%, below the examined MSCI total-assets limits. The business screen remains incomplete because no universal prohibited-revenue numerator is disclosed.
- Financial
- Pass
- Overall
- Incomplete
Debt is 23.19% and liquidity is 0.83%, below the examined Malaysia SAC financial limits. The business screen remains incomplete because no universal prohibited-revenue numerator is disclosed.
- Financial
- Not calculated
- Overall
- Not calculated
A properly licensed and reproducible historical market-cap series is not stored, so these methods are not estimated from a current spot price.
Business-activity disclosure
Constellation generates and supplies electricity through nuclear, natural-gas, renewable and other energy assets, with power, capacity, gas and energy-related product revenues. Electricity generation is generally permissible at the activity level, while fossil-fuel generation, derivatives, trading, government programs and environmental impacts warrant qualitative review.
Limitation: The filing does not allocate a universal prohibited-revenue numerator by generation technology, customer, trading activity or government program; no exact prohibited-revenue percentage is asserted.
Purification
Constellation's filing reports net interest expense rather than standalone interest income and does not prescribe a scholar-approved purification percentage. Readers should follow the qualified scholar or methodology they use rather than applying an invented fixed rate.
Inputs, assumptions and primary sources
- Inputs use Constellation's March 31, 2026 Form 10-Q; amounts are USD millions and revenue is for the quarter.
- Debt uses $5,102 million of short-term borrowings, $370 million of long-term debt due within one year and $16,994 million of long-term debt.
- Cash uses $800 million of cash and cash equivalents; restricted cash, nuclear decommissioning trust funds and derivative assets are not treated as cash equivalents or securities in this screen.
- Receivables use $4,414 million of net accounts receivable. Derivative assets and inventories are not added.
- The filing reports net interest expense rather than standalone interest income; no non-compliant-income numerator or fixed purification rate is inferred.
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.
Current quantitative screen
The calculations use Constellation's official filing at the SEC (first-quarter 2026 Form 10-Q). Amounts are in USD millions and revenue is for the quarter.
- Interest-bearing debt / assets: 23.19%, using $5,102 million of short-term borrowings, $370 million of debt due within one year and $16,994 million of long-term debt.
- Cash / assets: 0.83%, using $800 million of cash and cash equivalents.
- Receivables plus cash / assets: 5.38%, using $4,414 million of net receivables plus cash.
- Standalone interest income: not disclosed; the filing reports net interest expense, so no interest-income ratio or fixed purification rate is inferred.
The examined debt, liquidity and receivables ratios are below the named asset-based limits. Market-cap denominator methods are not calculated because ZakatInvest does not store a licensed, reproducible historical market-cap series.
Constellation's business activity
Constellation generates and supplies electricity through nuclear, natural-gas, renewable and other energy assets, with power, capacity, gas and energy-related product revenues. Electricity generation is generally permissible at the activity level. The filing does not provide a universal prohibited-revenue numerator by generation technology, customer, trading activity or government program, so the business-activity field remains incomplete.
Qualitative considerations
- Calpine acquisition: the acquisition expanded natural-gas and geothermal generation alongside the nuclear fleet; investors may apply additional environmental-stewardship scrutiny.
- Trading and hedging: power, capacity and commodity activities involve derivatives and hedging contracts that some scholars assess differently.
- Nuclear stewardship: safety, decommissioning, spent fuel and regulatory obligations require ongoing diligence.
- Government programs: nuclear production-tax-credit and state-sponsored-program benefits require methodology-specific review.
Purification and the verdict
Constellation's filing reports net interest expense rather than standalone interest income and does not prescribe a scholar-approved purification percentage. Follow the qualified scholar or methodology you use rather than applying an invented fixed rate.
CEG is HALAL in ZakatInvest's qualitative classification, with an INCOMPLETE overall screen because prohibited-revenue and standalone interest-income inputs are not disclosed.
Use the quantitative screen alongside your school's principles and consult a qualified scholar before investing.
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