Is JMKE halal?
Jersey Mike's Subs Inc.
Under review
Jersey Mike's Subs Inc. passed the financial ratios, but its industry is flagged as sensitive and awaits manual review. It stays out of the halal list until the review is done.
Checked: 04 November 2026
Exchange
NYSE
Price
19.34
Day
-0.46%
Market cap
$6.57B
Industry
Restaurants
Sector
Consumer Cyclical
What the company does
Jersey Mike's Subs is a submarine-sandwich restaurant chain, mostly franchised, in the US and Canada. Revenue comes from franchise royalties and company stores; IPO in 2026.
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 $1.80B ÷ current market cap $6.57B = 27.4%
27.4%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $295.00M ÷ current market cap $6.57B = 4.5%
4.5%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $8.00M ÷ revenue $808.00M (last 4 quarters to 2026-09-30) = 1.0%
1.0%
Pass
Figures from the company's filings (2026-09-30), 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 3.9% of total assets (2026-09-30). 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
Halal stocks in the same industry
The largest halal stocks in Restaurants — for comparison.
Related articles
- Halal investingBlogWhy does a stock's halal status change?A stock that was halal yesterday can leave the list today. The four main reasons — and why none of them is a bug.
- Halal investingBlogAAOIFI Shariah Standard No. 21 in plain languageThe most widely used standard for halal stock screening: the two-step test, the three ratios and how it differs from other methods.
- Halal investingBlogA halal portfolio for beginners: 5 stepsWe won't tell you which stocks to buy — that's your call. The process for building and keeping a halal portfolio: screening, diversification, purification and re-checks.
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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.