Is ESLT halal?

What the company does

Elbit Systems (Israel) is Israel's largest defense company: drones, electronic warfare, artillery and munitions, avionics and military communications. Its money comes from Israeli and foreign defense-ministry contracts.

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 $852.24M ÷ 36-month average market cap $19.14B = 4.5%

  4.5%

  Pass

• Cash & investments / market cap

  limit 30%

  Cash + interest-bearing securities $1.11B ÷ 36-month average market cap $19.14B = 5.8%

  5.8%

  Pass

• Non-compliant income / total revenue

  limit 5%

  Interest income $6.30M ÷ annual revenue $7.94B (2025) = 0.1%

  0.1%

  Pass

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. Today's market cap: $32.83B.

For information (AAOIFI 3/1 note): cash + receivables are 40.6% 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