The Short Answer
Martin Marietta stock (MLM) is currently classified as HALAL in the qualitative catalog, while the current filing-based quantitative result is incomplete. Producing aggregates, cement, and construction materials 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.
5,294 / 20,497
273 / 20,497
1,053 / 20,497
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 25.83%, liquidity/assets is 1.33% and receivables-plus-cash/assets is 5.14%; gross interest income is unavailable.
- Financial
- Pass
- Overall
- Incomplete
Known asset ratios pass examined MSCI total-assets limits; income and project/end-use classification remain incomplete.
- Financial
- Pass
- Overall
- Incomplete
Known debt and liquidity ratios pass examined limits; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored and income/project disclosure remains incomplete.
Business-activity disclosure
Martin Marietta supplies aggregates, cement, ready-mix and specialty materials for construction and infrastructure. The materials business is generally permissible in principle, while project and end-use allocation remains qualitative.
Limitation: The filing does not provide a universal prohibited-activity revenue numerator by project or end use.
Purification
Gross interest income is not separately disclosed in the filing, so no income ratio or fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from Martin Marietta's March 31, 2026 Form 10-Q.
- Interest-bearing debt is $5,294 million noncurrent; operating leases are excluded.
- Cash and cash equivalents are $273 million and accounts receivable are $780 million.
- First-quarter revenue is $1,362 million.
- Gross interest income is not separately disclosed; no income numerator or purification percentage is inferred.
- Aggregates, cement and construction materials are generally permissible in principle, but prohibited end-use revenue is not allocated.
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 interest-bearing debt/assets of 25.83%, liquidity/assets of 1.33%, and receivables plus cash/assets of 5.14%. Gross interest income and a universal prohibited-revenue numerator are not separately disclosed.
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)
Martin Marietta's Business Activity
Martin Marietta Materials, Inc. supplies construction aggregates. Its activity is:
- Aggregates: Crushed stone, sand, and gravel for roads and infrastructure
- Cement and ready-mix: Building materials for construction projects
- Magnesia specialties: Industrial and environmental products
Producing and selling construction materials is a clearly permissible activity with no haram revenue line.
Why MLM Is Halal
1. Permissible Core Business
Producing aggregates and building materials is a halal industrial business that supplies infrastructure and construction. There is no gambling, alcohol, conventional banking, or other prohibited line at the heart of the business.
2. Debt Ratio Is the Item to Watch
The filing-based interest-bearing debt/assets ratio is 25.83%, below the examined asset-based limits. Acquisitions, quarry investments and construction cycles can change the balance sheet.
3. Interest on Cash to Purify
Gross interest income is not separately disclosed, so no income ratio or fixed purification percentage is asserted. Re-screen the ratios periodically, since the business is cyclical with construction and infrastructure spending.
Filing-Based Ratios (March 31, 2026)
Based on Martin Marietta's latest Form 10-Q:
- Debt / Total Assets: 25.83% — below examined limits ✅
- Liquidity / Total Assets: 1.33% ✅
- Receivables + Cash / Total Assets: 5.14% ✅
- Gross Interest Income: Not separately disclosed — purification remains incomplete ⚠️
- 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. Construction-materials activity remains generally permissible, but income and project end-use allocation remain incomplete.
- Core activity: Aggregates, cement and construction materials
- Quantitative status: Known asset ratios pass; data remains incomplete
- Scholar review: Confirm income and project end-use treatment
Bottom Line
Martin Marietta (MLM) has a generally permissible core activity and passing known asset ratios, but the current filing-based result is incomplete because gross interest income and a universal prohibited-revenue numerator are not separately disclosed.
For Muslim investors seeking building-materials exposure, compare MLM with peers like Vulcan Materials (VMC) and Eagle Materials (EXP).
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