The Short Answer
MasTec stock (MTZ) is currently doubtful on the stored quantitative screen. Building and maintaining infrastructure is a clearly permissible activity, and debt/assets passes, but the conservative contract-receivable proxy fails the examined MSCI-style receivables limit.
Current quantitative Sharia screen
Based on 10-Q figures for the period ended 2026-03-31; calculated 2026-07-15.
2,532.307 / 10,441.515
273.672 / 10,441.515
4,144.002 / 10,441.515
- Financial
- Incomplete
- Overall
- Incomplete
Debt/assets is 24.25%, liquidity/assets is 2.62% and receivables-plus-cash/assets is 39.69%; known ratios pass the examined FTSE asset limits but the income numerator remains unavailable.
- Financial
- Fails
- Overall
- Fails
Debt/assets and liquidity/assets are below the examined MSCI limits, but receivables-plus-cash/assets is 39.69%, above the examined 33.33% limit.
- Financial
- Pass
- Overall
- Incomplete
Debt/assets is 24.25% and liquidity/assets is 2.62%, below the examined Malaysia limits; this is not an official classification and business disclosure remains incomplete.
- Financial
- Not calculated
- Overall
- Fails
A properly licensed and reproducible historical market-cap series is not stored; the MSCI-style receivables screen already fails.
Business-activity disclosure
MasTec builds and maintains communications, power-delivery, clean-energy and pipeline infrastructure. Infrastructure construction is generally permissible, while downstream end use, customer concentration and project obligations require qualitative review.
Limitation: The filing does not allocate revenue by downstream end use or provide a universal prohibited-revenue or non-compliant-income numerator.
Purification
The filing reports net interest expense and only an immaterial amount of interest income, but no reproducible gross non-compliant-income numerator; no fixed purification percentage is asserted.
Inputs, assumptions and primary sources
- Amounts are USD millions from MasTec's March 31, 2026 Form 10-Q.
- Debt combines current long-term debt including finance leases of $156.007 million and long-term debt including finance leases of $2,376.307 million.
- Cash is $273.672 million; no separate interest-bearing securities balance is identified.
- The receivable proxy combines accounts receivable of $1,594.226 million and contract assets of $2,276.104 million because both represent amounts due under customer contracts.
- The filing reports net interest expense and only an immaterial amount of interest income; no reproducible gross non-compliant-income numerator is stored.
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 current filing-based screen changes the conclusion: the business is permissible, but the contract-asset receivable proxy is above the examined MSCI-style limit. Investors should treat the result as doubtful until the next filing clarifies the receivable mix.
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)
MasTec's Business Activity
MasTec, Inc. is an infrastructure construction company. Its activity is:
- Communications: Building and maintaining wireless and wireline/fiber networks
- Power delivery and clean energy: Transmission, distribution, and renewable-energy infrastructure
- Pipeline infrastructure: Oil, gas, and water pipeline construction and maintenance
Building and maintaining infrastructure is a clearly permissible activity with no haram revenue line of its own.
Why MTZ Is Halal
1. Permissible Core Business
Infrastructure construction is a halal engineering-and-construction business. There is no gambling, conventional banking, alcohol, or other prohibited line at the heart of the business.
2. Debt Ratio Is the Main Screen
MasTec carries acquisition-related debt, so total debt / market cap is the main screen. Confirm it sits under the 33% threshold on the latest filings before investing — the company has been working down acquisition debt.
3. Receivables and Interest to Check
As a contractor, MasTec's receivables ratio (total receivables / total assets) is worth checking against the relevant threshold, and incidental interest income on cash should be checked against the 5% threshold and the corresponding small portion of returns purified.
Current Filing-Based Quantitative Screen
MasTec's March 31, 2026 Form 10-Q reports the following transparent total-assets proxies:
- Debt / assets: 24.25% — below the examined 33.333% limits ✅
- Liquidity / assets: 2.62% — below the examined limits ✅
- Receivables + cash / assets: 39.69% — above the examined MSCI-style 33.33% limit ❌
- Business activity: Infrastructure construction is generally permissible; end use remains qualitative ⚠️
Methodology Interpretation
The stored record applies transparent total-assets proxies for FTSE Yasaar, MSCI Islamic and Malaysia SAC-style tests. FTSE is incomplete because no reproducible income numerator is disclosed; the MSCI-style receivables test fails, while the Malaysia-style known ratios pass. No third-party app classification is asserted.
- FTSE Yasaar-style asset tests: incomplete on income disclosure
- MSCI Islamic-style asset tests: fail on the receivables proxy
- Malaysia SAC-style ratios: known ratios pass; not an official classification
- Market-cap denominator: not calculated from a reproducible licensed series
Bottom Line
MasTec (MTZ) has a doubtful, methodology-dependent result in the current filing-based analysis. The infrastructure-construction business is permissible and debt/assets passes, but the conservative contract-receivable proxy fails the examined MSCI-style receivables limit. Re-check the next filing and consult a qualified scholar for the treatment of contract assets and claims.
For Muslim investors seeking infrastructure exposure, compare MTZ with peers like Dycom (DY), Construction Partners (ROAD), and Arcosa (ACA).
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