Is SPCX halal?

What the company does

SpaceX (IPO 2026) has three lines: rocket launches (Falcon, Starship — for NASA, military and commercial satellites), Starlink satellite internet (the main revenue) and AI (xAI — the Grok model and the X social network). Its money comes from Starlink subscriptions, launch contracts and advertising (military contracts are checked by the screener).

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 $39.36B ÷ current market cap $1934.98B = 2.0%

  2.0%

  Pass

• Cash & investments / market cap

  limit 30%

  Cash + interest-bearing securities $100.01B ÷ current market cap $1934.98B = 5.2%

  5.2%

  Pass

• Non-compliant income / total revenue

  limit 5%

  Interest income $492.00M ÷ annual revenue $18.67B (2025) = 2.6%

  2.6%

  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.

For information (AAOIFI 3/1 note): cash + receivables are 54.1% 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