The Short Answer
Ingersoll Rand stock (IR) is currently classified as HALAL in the qualitative catalog, while the current filing-based quantitative result is incomplete. Manufacturing compressors, pumps, and fluid-handling equipment is generally permissible, and the known asset ratios pass.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
4,843.6 / 18,218.2
1,274.4 / 18,218.2
2,729.6 / 18,218.2
4 / 1,847.2
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 26.59%, liquidity/assets is 7.00%, receivables-plus-cash/assets is 14.98% and disclosed interest income is 0.22%; activity allocation remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets, liquidity/assets and receivables-plus-cash/assets are below the examined MSCI limits; activity allocation remains incomplete.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 26.59% and liquidity/assets is 7.00%, below the examined Malaysia limits; activity allocation remains incomplete.
- Financial
- Not calculated
- Overall
- Incomplete
A properly licensed and reproducible historical market-cap series is not stored; filing-based asset ratios remain documented.
Business-activity disclosure
Ingersoll Rand manufactures compressors, vacuum systems, blowers, pumps and fluid-management equipment. The core industrial activity is generally permissible, while customer end-use allocation remains qualitative.
Limitation: The filing does not provide a universal prohibited-revenue numerator across customer end uses.
Purification
The filing discloses $4.0 million of interest income, but no scholar-specific purification instruction or universal prohibited-revenue numerator is provided.
Inputs, assumptions and primary sources
- Amounts are USD millions from Ingersoll Rand's March 31, 2026 Form 10-Q for the three months ended that date.
- Debt combines $4,778.8 million of reported long-term debt and capital-lease obligations with the $64.8 million current operating-lease liability disclosed in accrued liabilities; a separately tagged noncurrent operating-lease liability was not available in the structured facts.
- Cash is $1,274.4 million and net accounts receivable is $1,455.2 million at March 31, 2026.
- The filing discloses $4.0 million of interest income on cash and cash equivalents for the quarter, equal to approximately 0.22% of quarterly revenue.
- Industrial equipment is generally permissible, but no universal prohibited-revenue numerator is asserted.
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.
The March 31, 2026 filing shows debt/assets of 26.59%, liquidity/assets of 7.00%, and receivables plus cash/assets of 14.98%. It discloses $4.0 million of interest income, or approximately 0.22% of quarterly revenue, but does not provide a universal prohibited-revenue numerator.
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)
Ingersoll Rand's Business Activity
Ingersoll Rand Inc. designs and manufactures mission-critical flow-creation and industrial technologies. Its activity is:
- Compression systems: Air and gas compressors, vacuum systems, and blowers
- Fluid handling: Pumps and precision fluid-management equipment
- Industrial & life-science customers: Selling and servicing equipment globally
This is a classic permissible industrial-products business with no gambling, alcohol, conventional banking, or other prohibited line at its core.
Why IR Is Halal
1. Permissible Core Business
Manufacturing and servicing industrial equipment is a halal activity. There is no haram revenue stream at the heart of the business.
2. Debt Within the Threshold
The filing-based debt/assets ratio is 26.59%, below the examined asset-based limits. Ingersoll Rand is acquisitive, so the balance sheet should be rechecked after major transactions.
3. Incidental Interest Income
Interest income on cash is incidental rather than core; it should be checked against the 5% threshold and the corresponding small portion of dividends purified.
Filing-Based Ratios (March 31, 2026)
Based on Ingersoll Rand's latest Form 10-Q:
- Debt / Total Assets: 26.59% — below examined limits ✅
- Liquidity / Total Assets: 7.00% ✅
- Receivables + Cash / Total Assets: 14.98% ✅
- Disclosed Interest Income / Revenue: 0.22% ⚠️
- Prohibited-Product Revenue: No universal numerator disclosed — qualitative review required ⚠️
Methodology Interpretation
The current filing-based asset ratios pass the examined FTSE, MSCI and Malaysia-style limits. The industrial activity remains generally permissible, but customer end-use allocation and a universal prohibited-revenue numerator remain incomplete.
- Core activity: Compressors, pumps, blowers and fluid-management equipment
- Quantitative status: Known asset ratios pass; data remains incomplete
- Scholar review: Confirm income and customer end-use treatment
Bottom Line
Ingersoll Rand (IR) has a generally permissible core activity and passing known asset ratios, but the current filing-based result is incomplete because no universal prohibited-revenue numerator is disclosed.
For Muslim investors seeking industrial exposure, compare IR with peers like Parker Hannifin (PH) and Dover (DOV).
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