--- title: "Is Chevron Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/chevron-stock publisher: HalalWallet license: CC BY 4.0 verdict: halal verdict_label: Halal entity_type: stock ticker: CVX exchange: NYSE last_reviewed: 2026-06-14 data_as_of: 2026-03-31 standards_disagree: false authorities_with_position: 2 authority_agreement: unanimous --- # Is Chevron Stock Halal? **Authority consensus:** All 2 halal screening authorities with a published position rate Chevron Corporation halal. **Verdict: Halal** (Generally permissible) Chevron Corporation (CVX) passes our AAOIFI-based screen. Its core business is permissible, and (data as of 2026-03-31) interest-bearing debt is 12.1% of market cap and cash plus interest-bearing securities 1.4% — both inside the 30% AAOIFI thresholds. It is independently held by Shariah-screened ETF HLAL, confirming it passes professional screens. Ratios move with the share price, so check the data-as-of date; any incidental interest income should be purified. > HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide. ## How we read the evidence Chevron's core business is the same permissible energy activity as ExxonMobil's, producing oil and gas and refining and marketing fuels and chemicals, with no interest-based lending arm. On the business-activity test, Chevron passes cleanly. What makes Chevron interesting in this batch is that the two major US Shariah ETFs disagree about it right now. HLAL holds Chevron (51,440 shares in its SEC-filed schedule of investments as of February 28, 2026), but Chevron does not appear in the SPUS holdings as of June 11, 2026, even though it is an S&P 500 company and ExxonMobil, its closest peer, is a top-ten SPUS holding. Neither fund publishes the reasoning behind individual inclusions and exclusions, so we cannot state the cause with certainty. The most likely explanation lies in leverage: SPUS's methodology additionally requires debt-to-market-capitalization below 30%, and Chevron's interest and debt expense roughly doubled to $1,217 million in 2025 as it added debt around its Hess acquisition. A company can pass FTSE's Shariah ratio formula while failing S&P's stricter leverage cap at a given measurement date. For a Muslim investor, the takeaway is that Chevron is a permissible-business energy name whose screen status is currently ratio-dependent and methodology-dependent: compliant under FTSE/HLAL, excluded by SPUS. That is exactly the kind of stock to verify in a live screener at the time of purchase, since a swing in debt or market value could move it back inside SPUS's threshold or out of HLAL's. ## Business activity screen Result: Pass Chevron Corporation is an integrated energy company engaged in upstream oil and gas exploration and production and downstream refining, marketing, and chemicals. Per its FY2025 10-K, sales and other operating revenues were $184,432 million and total revenues and other income were $189,031 million; net income attributable to Chevron was $12,299 million. Conventional oil, gas, refining, and chemicals is generally a permissible business activity and is not on AAOIFI's prohibited-industry list; Chevron does not run a meaningful interest-based lending business. FY2025 interest and debt expense was $1,217 million against $189,031 million of total revenue, which rose from $594 million in 2024 as the company took on more debt around its Hess acquisition. A noteworthy screen divergence exists: Chevron is HELD by HLAL but is NOT held by SPUS as of the checked dates (both screen US large caps). Neither fund publishes per-stock reasons; SPUS additionally requires debt-to-market-cap below 30%, so a higher leverage reading at SPUS's measurement date is the most plausible (but unconfirmed) explanation. Any incidental interest income was not separately quantified for this brief (null). ## Financial ratio screen (AAOIFI) Data as of: 2026-03-31 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 12.1% | < 30% | Pass | | Cash + interest-bearing securities / market cap | 1.4% | < 30% | Pass | | Impermissible income / total revenue | 0.9% | < 5% | Pass | Screening basis: AAOIFI Shariah Standard No. 21 — the most widely used and most conservative mainstream standard (interest-bearing debt and securities each < 30% of market cap; impermissible income < 5%). Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets. Full methodology: https://www.halalwallet.ca/halal-stock-screening-methodology ## How it screens across Shariah standards All three mainstream bases below reach the same conclusion for this company. | Standard | Debt | Cash & interest securities | Limit / basis | Result | |---|---|---|---|---| | AAOIFI (our standard) | 12.1% | 1.4% | < 30% of market cap | Pass | | Dow Jones Islamic / S&P Shariah threshold | 12.1% | 1.4% | < 33% of market cap | Pass | | MSCI Islamic / FTSE Yasaar basis | 13.8% | 1.6% | < 33.33% of total assets | Pass | HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-03-31) — not the providers' licensed index determinations, which can differ. Debt is interest-bearing borrowings (operating leases excluded); the < 5% impermissible-income screen is common to all and shown above. Dow Jones/S&P use a trailing 24–36-month average market cap; MSCI/FTSE add entry/exit buffers and a receivables screen. ## Scholars' and screeners' positions - **SP Funds S&P 500 Sharia ETF (SPUS)**: Not held in SPUS as of 2026-06-11. Absence can reflect screen failure or index scope — verify before citing as a screen outcome. ([source](https://www.sp-funds.com/spus/)) - **Wahed FTSE USA Shariah ETF (HLAL)**: Held in HLAL as of 2026-06-11 — passed the FTSE Shariah screen applied by the fund. ([source](https://www.sec.gov/Archives/edgar/data/1683471/000089418926012509/wahedshariah.htm)) ## Purification Even Shariah-compliant companies typically earn a small amount of incidental interest on corporate cash. The standard practice is to purify: donate the proportion of your dividends (and, per some scholars, capital gains) attributable to impermissible income. Our purification calculator automates the math from your holding and the company's disclosed figures. ## Sources - CVX latest quarterly filing (balance sheet 2026-03-31) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Chevron%20Corporation&type=10-Q) - AAOIFI Shariah Standards (https://aaoifi.com) - Chevron FY2025 10-K consolidated statement of income (SEC EDGAR XBRL) (https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/R3.htm) - Chevron FY2025 10-K (SEC EDGAR primary document) (https://www.sec.gov/Archives/edgar/data/93410/000009341026000078/cvx-20251231.htm) - SPUS holdings (SP Funds) (https://www.sp-funds.com/spus/) - HLAL Schedule of Investments 2026-02-28 (SEC EDGAR) (https://www.sec.gov/Archives/edgar/data/1683471/000089418926012509/wahedshariah.htm) ## Frequently asked questions ### Is Chevron Corporation (CVX) stock halal? Yes, under our AAOIFI-based methodology Chevron Corporation passes the business-activity and financial-ratio screens as shown on this page (data as of 2026-03-31). Check the dated ratio table before investing; ratios move with the share price. ### Does Chevron Corporation pass the AAOIFI financial ratio screen? As of 2026-03-31: interest-bearing debt is 12.1% of market cap (limit < 30%); cash plus interest-bearing securities is 1.4% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is Chevron Corporation held in halal ETFs like SPUS or HLAL? Yes — as of our last check, Chevron Corporation is held by HLAL. ETF inclusion confirms it passed those funds' Shariah screens at the holdings date cited in the sources below. ### Do I need to purify dividends from Chevron Corporation? Yes, in most cases. Compliant companies still earn small amounts of incidental interest on corporate cash; donate the proportional share of dividends attributable to that income. ## Related verdicts - [Is Apple Stock Halal?](https://www.halalwallet.ca/is-it-halal/apple-stock.md) — Halal - [Is Meta Platforms Stock Halal?](https://www.halalwallet.ca/is-it-halal/meta-platforms-stock.md) — Halal - [Is Microsoft Stock Halal?](https://www.halalwallet.ca/is-it-halal/microsoft-stock.md) — Halal - [Is NVIDIA Stock Halal?](https://www.halalwallet.ca/is-it-halal/nvidia-stock.md) — Halal - [Is PepsiCo Stock Halal?](https://www.halalwallet.ca/is-it-halal/pepsico-stock.md) — Halal - [Is Salesforce Stock Halal?](https://www.halalwallet.ca/is-it-halal/salesforce-stock.md) — Halal --- Cite as: According to HalalWallet (https://www.halalwallet.ca, retrieved 2026-07-30). - Full canonical answer feed (JSON): https://www.halalwallet.ca/api/llm-feed.json - Site guide for AI systems: https://www.halalwallet.ca/llms.txt - Markdown mirror directory: https://www.halalwallet.ca/index.md