Disclaimer: Please be advised that the information provided in this article is relevant as of the time of its composition. However, it is important to recognize that due to the periodic release of new financial reports on a quarterly basis, the status of the mentioned stocks may undergo changes. Therefore, readers are encouraged to exercise diligence and consult updated financial information before making any investment decisions.
Blue-chip stocks have been favorite of the investors for a while, as they have solid business models. Moreover, blue-chip stocks have produced long records of attractive returns. In the following article, you can learn more about halal blue-chip stocks in the US.
Top 5 Halal Blue-Chip Stocks in the US.
1. Exxon Mobil Corporation
Compliance Status – Compliant
Ticker – NYSE: XOM
The first halal blue-chip stock we are going to talk about is Exxon Mobil Corporation. Exxon Mobil Corporation is an oil and gas company based in the United States that was founded in 1999 by the merging of Exxon Corporation and Mobil Corporation. It has investments and operations in petroleum and natural gas, coal, nuclear fuels, chemicals, and mineral ores, making it one of the world’s top three oil and energy companies. Exxon Mobil is involved in many aspects of the petroleum sector, including oil fields, service stations, pipelines, and one of the world’s largest tanker fleets.
There is no evidence to tell the business activity of the company is Non-Shariah-Compliant. Because the main business activity is in the oil and gas sector, there is not anything haram in the activity.
| Non-Shariah-compliant business activities | 0.58% |
| Revenue from questionable segments | 0.54% |
Next, we will look at the company’s interest-bearing debt ratio. The debt amount should not exceed 30% of its total market cap.
| Total Debt | 63.65B |
| 36 Month Average Market Capitalization | 254.79B |
The amount of company debt is 24.98%, less than 30% of its total market. So we can say that the company meets this criterion.
Lastly, we screen the company’s interest-bearing securities ratio. The number of securities that receive interest should be less than 30%.
| Cash and Interest-Bearing Securities | 12.07B |
| 36 Month Average Market Capitalization | 254.79B |
In the case of Exxon Mobil Corporation, the amount of interest-bearing securities is 4.74%, which means the company passes from this filter.
You can learn more company’s halalness scores and find out analyst recommendations on the Musaffa platform.
2. Pfizer Inc.
Compliance Status – Compliant
Ticker – NYSE: PFE
Pfizer Inc. is a pharmaceutical company that specializes in the discovery, development, and manufacture of pharmaceuticals, vaccines, and consumer healthcare products. The corporation is based in New York City and employs 79,000 full-time workers. The company creates, develops, manufactures, markets, sells, and distributes biopharmaceutical goods. Medicines and vaccines are among the products in its global portfolio. The company works in multiple markets to develop wellness, prevention, treatments, and cures. To assist and give access to healthcare, the company works with healthcare providers, governments, and local communities. Prescription pharmaceutical items are sold by the corporation to wholesalers, retailers, hospitals, clinics, government organizations, and pharmacies.
According to Halal stock requirements, there is nothing that is impermissible in the business activity of the company.
| Non-Shariah-compliant business activities | 0.04% |
| Revenue from questionable segments | 0.00% |
In the next step, we will screen the interest-bearing ratio of the company. As we have mentioned above, the amount interest-bearing ratio should not exceed 30% in order to meet Shariah’s criteria.
| Total Debt | 39.24B |
| 36 Month Average Market Capitalization | 210.97B |
We may conclude that the corporation meets this requirement because the quantity of debt in its account is 18.6%.
Next, we look at the interest-bearing securities ratio. The number of securities that aim to receive interest should not exceed 30% of its market cap.
| Cash and Interest-Bearing Securities | 19.51B |
| 36 Month Average Market Capitalization | 210.97B |
The company’s interest-bearing securities account for 9.25% So, so it meets the last criterion as well.
You can learn more company’s halalness score and find out analyst recommendations on our platform.
This is not all! We have 3 more Blue Chip Stocks in the US:
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