Is ELMT halal?
The Elmet Group Co.
Doubtful
No clear verdict is possible for The Elmet Group Co. — data is insufficient or the case is contested in fiqh. As a precaution it is NOT included in the halal list.
Checked: 14 October 2026
Exchange
NASDAQ
Price
18.93
Day
-2.87%
Market cap
$611.0M
Industry
Aerospace & Defense
Sector
Industrials
What the company does
The Elmet Group (IPO 2026) makes precision components for aerospace, defense, chips and medical: tungsten and molybdenum parts (refractory materials) and RF/microwave components for radar and chip equipment. Its money comes from component sales (the defense share is checked by the screener).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
Activity needs clarification: Aerospace & Defense
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $10.48M ÷ current market cap $611.02M = 1.7%
1.7%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $71.05M ÷ current market cap $611.02M = 11.6%
11.6%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2026-06-30), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict.
For information (AAOIFI 3/1 note): cash + receivables are 38.8% of total assets (2026-06-30). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Held by funds
- Not held by any tracked fund
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Halal is the first question. The second: when to enter?
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This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.