Halal Industrials stocks
US Industrials stocks screened against the AAOIFI standard: business activity, interest-bearing debt, cash and interest income. Below are the largest halal ones by market cap.
Halal
276
Not halal
365
Doubtful
41
Not enough data
19
39% of the sector is halal · 701 listed companies in total
Why companies in this sector pass or fail
Industrials is one of the sectors with the most halal stocks: manufacturing, logistics, construction and engineering are usually permissible businesses. Failures come mostly from debt: capital-heavy businesses such as airlines, railroads and equipment leasing are financed with borrowing. In smaller companies the cash ratio is also a reason.
This is a general observation, not a fatwa. Every company is screened individually — the result is on its own page, with the ratios. Methodology
Not halal — by reason
365 companies are currently not halal. One company can fail for several reasons; the interest-income test only applies once the debt and cash ratios pass.
- Prohibited business (banking, insurance, alcohol, gambling...)6 · 2%
- Interest-bearing debt ≥ 30% (of market cap)252 · 69%
- Cash & investments ≥ 30%174 · 48%
- Interest (non-compliant) income ≥ 5%10 · 3%
- Other (collapsed market cap, no revenue, etc.)5 · 1%
Largest halal stocks — Industrials
The 30 largest by market cap. Open any row for the full stock page — ratios, formula and date.
| # | Company | Industry | Market cap | Price | Debt | Cash | Interest income |
|---|---|---|---|---|---|---|---|
| 1 | Farm & Heavy Construction Machinery | $350.59B | 730.76 | 19.9 | 3.0 | 0.7 | |
| 2 | Specialty Industrial Machinery | $257.38B | 921.2 | 1.9 | 8.9 | 1.2 | |
| 3 | Railroads | $170.98B | 289.04 | 21.0 | 1.5 | 0.2 | |
| 4 | Specialty Industrial Machinery | $162.10B | 391.25 | 16.4 | 0.5 | — | |
| 5 | Specialty Industrial Machinery | $120.89B | 963.34 | 9.7 | 0.6 | 0.1 | |
| 6 | Building Products & Equipment | $105.19B | 458.89 | 5.5 | 1.6 | 0.0 | |
| 7 | Engineering & Construction | $102.22B | 631.86 | 11.1 | 0.9 | 0.1 | |
| 8 | Building Products & Equipment | $93.55B | 145.47 | 15.8 | 1.1 | 0.1 | |
| 9 | Specialty Industrial Machinery | $90.92B | 161.47 | 19.3 | 3.2 | 0.8 | |
| 10 | Railroads | $90.06B | 48.68 | 27.7 | 2.0 | 0.3 | |
| 11 | Electrical Equipment & Parts | $88.07B | 206.42 | 6.1 | 5.9 | — | |
| 12 | Waste Management | $85.56B | 226.86 | 27.0 | 0.6 | — | |
| 13 | Conglomerates | $83.90B | 164.75 | 17.1 | 4.5 | 0.9 | |
| 14 | Specialty Business Services | $82.31B | 213.69 | 3.2 | 0.4 | 0.1 | |
| 15 | Railroads | $76.02B | 87.36 | 24.5 | 0.4 | — | |
| 16 | Specialty Industrial Machinery | $75.94B | 272.28 | 12.9 | 1.1 | 0.3 | |
| 17 | Electrical Equipment & Parts | $74.07B | 221.31 | 15.6 | 15.1 | 1.7 | |
| 18 | Railroads | $72.77B | 121.79 | 23.0 | 0.3 | — | |
| 19 | Specialty Industrial Machinery | $72.64B | 531.33 | 15.3 | 7.3 | 0.6 | |
| 20 | Railroads | $71.82B | 326.92 | 28.3 | 1.8 | — | |
| 21 | Waste Management | $68.16B | 231.54 | 21.5 | 0.2 | 0.1 | |
| 22 | Specialty Business Services | $66.71B | 39.06 | 14.7 | 0.4 | 0.1 | |
| 23 | Industrial Distribution | $61.34B | 1,330.7 | 4.9 | 1.2 | — | |
| 24 | Industrial Distribution | $57.51B | 51.02 | 0.3 | 0.5 | 0.1 | |
| 25 | Specialty Industrial Machinery | $57.03B | 248.17 | 4.7 | 1.1 | — | |
| 26 | Farm & Heavy Construction Machinery | $56.72B | 110.82 | 26.5 | 15.9 | — | |
| 27 | Engineering & Construction | $56.33B | 1,439.07 | 0.2 | 7.6 | 0.2 | |
| 28 | Railroads | $48.18B | 286.82 | 19.7 | 2.0 | — | |
| 29 | Specialty Industrial Machinery | $47.51B | 426.23 | 8.8 | 1.3 | 0.2 | |
| 30 | Specialty Business Services | $46.75B | 109.01 | 6.8 | 1.6 | 0.5 |
Ratios in percent; limits: debt < 30%, cash < 30%, interest income < 5%.
The other 246 halal stocks — in the screener
The public page is a sample. The screener filters by sector and halal status: sort every Industrials stock by 40+ metrics (P/E, margins, growth, technicals).
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Industries in this sector
Industries with at least 5 halal stocks — each with its own list and failure reasons.
- Specialty Industrial Machinery52 / 79 halal
- Engineering & Construction26 / 53 halal
- Electrical Equipment & Parts25 / 54 halal
- Building Products & Equipment21 / 37 halal
- Specialty Business Services18 / 46 halal
- Consulting Services13 / 24 halal
- Industrial Distribution13 / 24 halal
- Integrated Freight & Logistics11 / 32 halal
- Metal Fabrication10 / 18 halal
- Trucking10 / 16 halal
- Waste Management10 / 21 halal
- Conglomerates9 / 27 halal
- Staffing & Employment Services9 / 18 halal
- Pollution & Treatment Controls8 / 17 halal
- Railroads8 / 12 halal
- Security & Protection Services8 / 21 halal
- Farm & Heavy Construction Machinery7 / 25 halal
- Tools & Accessories7 / 11 halal
Other sectors
Frequently asked questions
- Which Industrials stocks are halal?
- According to our AAOIFI-based screening, 276 of 701 listed Industrials companies are halal. The largest by market cap: Caterpillar, Inc. (CAT), GE Vernova Inc. (GEV), Union Pacific Corporation (UNP), Eaton Corporation, PLC (ETN), Parker-Hannifin Corporation (PH). The full list and each company's ratios are on the stock pages.
- Why are some Industrials companies not halal?
- Industrials is one of the sectors with the most halal stocks: manufacturing, logistics, construction and engineering are usually permissible businesses. Failures come mostly from debt: capital-heavy businesses such as airlines, railroads and equipment leasing are financed with borrowing. In smaller companies the cash ratio is also a reason.
- Is this a fatwa or investment advice?
- No. This is the result of automated screening based on public data. It is neither a fatwa nor an investment recommendation. Consult a scholar or adviser you trust before making decisions.
- How often are the results updated?
- Screening runs every day: when a new quarterly report comes out, the ratios are recalculated and the status may change. Each stock page shows the date it was checked.
Terms
Not a fatwa and not investment advice. Screening is automated from public financial reports and may be wrong or out of date.