Halal Stocks in the United States

US listings get the fullest data Mizaan can build. For companies on NASDAQ, the NYSE, NYSE American and the OTC markets, revenue segments come from SEC EDGAR filings, the 10-K business overview and segment notes are read directly, and interest income is cross-checked against the company’s XBRL data. The page reads “Business-activity data: SEC filings”.

The financial ratio screen follows AAOIFI Shari’ah Standard No. 21: interest-bearing debt below 30% of market capitalisation, interest-bearing securities below 30%, and non-permissible income below 5% of total revenue. Income ratios use the annual statement; the balance sheet uses the most recent quarter when one is available, so a large cash raise or buy-back can move a verdict between screenings.

Foreign companies that file a 20-F or 40-F with the SEC, such as Canadian and UK groups listed in New York, are screened on the same filing-backed path. ETFs and funds listed in the US are screened where holdings data allows, and leveraged and inverse products are flagged on their name alone.

OTC and pink-sheet listings are covered when statements exist, but they are often incomplete. Where a line needed for a ratio is missing, that ratio reads Data Not Available and the verdict is Questionable, neither a pass nor a fail, and the data confidence label on the page says so. Nothing is filled in with estimates.

Companies with mixed revenue, in advertising, entertainment, hospitality or defence, are not excluded automatically. Their segments and filings are examined for specific concerns, and a verdict can be escalated to Questionable when a substantive issue is found. Where a company has defence or weapons revenue, the page says so with the estimated share and its source, and leaves the verdict unchanged, since screening standards differ on that point.

Read the full methodology, including the standards comparison table and refresh cadences.