Is PAM halal?
Pampa Energia S.A.
Not halal
Pampa Energia S.A. did not pass AAOIFI screening. The failed check is shown below.
Checked: 16 October 2026
Exchange
NYSE
Price
81.1
Day
+0.77%
Market cap
$4.33B
Industry
Conglomerates
Sector
Industrials
What the company does
Pampa Energía is Argentina's largest private energy company: oil and gas production (Vaca Muerta), power plants (over 5 GW), petrochemicals (styrene, rubber) and gas/electricity transmission networks. Its money comes from selling electricity and gas.
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 $2.60B ÷ 36-month average market cap (estimated) $3.71B = 70.0%
70.0%
Fail
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $1.31B ÷ 36-month average market cap (estimated) $3.71B = 35.4%
35.4%
Fail
Non-compliant income / total revenue
limit 5%
Interest income $59.00M ÷ annual revenue $2.00B (2025) = 3.0%
3.0%
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: $4.33B.
For information (AAOIFI 3/1 note): cash + receivables are 28.8% 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
Manually reviewed — clean
The industry was flagged as sensitive, so the company's filings were checked by hand on 13 August 2026. Conclusion:
Argentina energetikasi: neft-gaz, elektr generatsiyasi (5472 MW), neftekimyo (stirol/kauchuk) va uzatish/transport ulushlari. Bank/sug'urta segmenti YO'Q — 'Conglomerates' yorlig'i chalg'ituvchi. NOT_HALAL verdikti moliyaviy
Halal stocks in the same industry
The largest halal stocks in Conglomerates — for comparison.
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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.