Is ICCC halal?
ImmuCell Corporation
Halal
ImmuCell Corporation passed every check under AAOIFI Shariah standard No. 21: no prohibited business activity, and all three financial ratios are within limits.
Checked: 14 October 2026
Exchange
NASDAQ
Price
10.75
Day
+1.80%
Market cap
$95.4M
Industry
Biotechnology
Sector
Healthcare
What the company does
ImmuCell makes immune products for newborn calves (First Defense — scours prevention) and a treatment for cow mastitis. Its money comes from sales to farmers and veterinarians.
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
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $8.30M ÷ 36-month average market cap $50.86M = 16.3%
16.3%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $8.86M ÷ 36-month average market cap $50.86M = 17.4%
17.4%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $159K ÷ annual revenue $27.64M (2025) = 0.6%
0.6%
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: $95.36M.
For information (AAOIFI 3/1 note): cash + receivables are 25.2% 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
- Among halal stocks
- 0.00% · #1196 of 1455
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Biotechnology — for comparison.
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Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
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.