Is MRVI halal?
Maravai LifeSciences Holdings,
Not halal
Maravai LifeSciences Holdings, did not pass AAOIFI screening. The failed check is shown below.
Checked: 13 October 2026
Exchange
NASDAQ
Price
6.79
Day
-3.96%
Market cap
$2.61B
Industry
Biotechnology
Sector
Healthcare
What the company does
Maravai LifeSciences makes raw materials for mRNA vaccines and drugs (CleanCap cap analog, nucleotides) and purity-testing reagents for biologics. Revenue comes from pharma customers; it fell sharply after COVID-vaccine demand ended.
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 $176.70M ÷ 36-month average market cap (estimated) $1.97B = 9.0%
9.0%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $70.09M ÷ 36-month average market cap (estimated) $1.97B = 3.6%
3.6%
Pass
Non-compliant income / total revenue
limit 5%
Interest income $11.44M ÷ annual revenue $185.74M (2025) = 6.2%
6.2%
Fail
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: $2.61B.
For information (AAOIFI 3/1 note): cash + receivables are 16.8% 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
Superinvestors
SEC 13F, 2026 Q3. Up to 45 days delayed.Held by 2 superinvestors · Average reported price: $6.24
- First Pacific Advisors$5.5M0.1%
- First Eagle Investment Management$45.8M0.0%
Halal stocks in the same industry
The largest halal stocks in Biotechnology — for comparison.
Related articles
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- Halal investingBlogWhy a company's cash affects whether its stock is halalLots of cash sounds like a good sign — but halal screening checks it separately. What counts, what doesn't, and where we are stricter than AAOIFI.
- 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 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.