Halal Utilities stocks
US Utilities 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
4
Not halal
96
Doubtful
2
Not enough data
2
4% of the sector is halal · 104 listed companies in total
Why companies in this sector pass or fail
Electric, gas and water utilities are regulated, stable businesses, but they build infrastructure almost entirely with debt. Most of them fail the debt ratio, so halal stocks are very rare in this sector.
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
96 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.
- Interest-bearing debt ≥ 30% (of market cap)86 · 90%
- Cash & investments ≥ 30%15 · 16%
- Interest (non-compliant) income ≥ 5%2 · 2%
- Other (collapsed market cap, no revenue, etc.)1 · 1%
Largest halal stocks — Utilities
The 4 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 | Utilities - Renewable | $5.02B | 23.96 | 1.7 | 7.3 | 0.3 | |
| 2 | Utilities - Renewable | $1.24B | 5.8 | 19.2 | 16.6 | — | |
| 3 | Utilities - Independent Power Producers | $605.8M | 11.71 | 8.4 | 5.2 | 0.1 | |
| 4 | Utilities - Regulated Water | $478.0M | 28.24 | 0.0 | 27.8 | 2.0 |
Ratios in percent; limits: debt < 30%, cash < 30%, interest income < 5%.
See the whole market in the screener
The public page is a sample. The screener filters by sector and halal status: sort every Utilities stock by 40+ metrics (P/E, margins, growth, technicals).
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Frequently asked questions
- Which Utilities stocks are halal?
- According to our AAOIFI-based screening, 4 of 104 listed Utilities companies are halal. The largest by market cap: SOLV Energy, Inc. (MWH), Fluence Energy, Inc. (FLNC), Hallador Energy Company (HNRG), Consolidated Water Co. Ltd. (CWCO). The full list and each company's ratios are on the stock pages.
- Why are some Utilities companies not halal?
- Electric, gas and water utilities are regulated, stable businesses, but they build infrastructure almost entirely with debt. Most of them fail the debt ratio, so halal stocks are very rare in this sector.
- 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.