---
title: "Is Ford Motor Stock Halal?"
canonical: https://www.halalwallet.ca/is-it-halal/ford-motor-stock
publisher: HalalWallet
license: CC BY 4.0
verdict: not_halal
verdict_label: Not Halal
entity_type: stock
ticker: F
exchange: NYSE
last_reviewed: 2026-06-14
data_as_of: 2026-03-31
standards_disagree: false
---
# Is Ford Motor Stock Halal?

**Verdict: Not Halal** (Not permissible)

Ford Motor Company (F) does not pass Shariah screening: interest-bearing debt / market cap is 274.6% against the < 30% limit (data as of 2026-03-31), and cash + interest-bearing securities / market cap is 53.3% against the < 30% limit (data as of 2026-03-31). It is not held by Shariah-screened ETFs SPUS or HLAL. Screened alternatives exist in the same sector — see the halal stock screeners and ETF guides below.

> 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

Ford's core business, designing and building trucks, SUVs, vans, and cars, is a permissible activity, so the Shariah question turns almost entirely on its in-house bank. Ford Credit is a conventional captive finance company that lends to retail buyers and dealers and earns interest. In FY2025 it generated $13,271 million of revenue, about 7.1% of Ford's $187,267 million total. That alone is enough to push Ford past the roughly 5% impermissible-revenue tolerance that AAOIFI-style stock screens typically apply.

The deeper issue is the balance sheet. A captive lender funds its loan book with large amounts of interest-bearing debt, so Ford carries both interest income (on the asset side, through Ford Credit) and heavy interest-bearing borrowings. Most Shariah screens also cap interest-bearing debt relative to market value or assets, and an automaker with a finance arm tends to breach those debt thresholds as well as the revenue test. This is why Ford and General Motors are recurring 'fail' names in halal screening even though making vehicles is permissible.

Consistent with that, Ford is not held by SPUS (S&P 500 Shariah Industry Exclusions, checked June 11, 2026) or by HLAL (FTSE USA Shariah, SEC-filed holdings February 28, 2026). For a Muslim retail investor, the practical takeaway is that the financing segment, not the cars, is the obstacle, and verifying a live screener before any purchase is essential because the precise ratios move each reporting period.

## Business activity screen

Result: Pass

Ford Motor Company designs, manufactures, and sells trucks, SUVs, cars, and commercial vehicles, and operates a captive financing arm. Per its FY2025 10-K, total revenues were $187,267 million, of which the automotive and services businesses (reported as 'Company excluding Ford Credit') generated $173,996 million and Ford Credit generated $13,271 million. Ford reorganized its automotive operations into Ford Blue (gas/hybrid), Ford Model e (electric), and Ford Pro (commercial), alongside Ford Credit. Ford reported a net loss of $8,162 million for 2025.

Ford Credit is a conventional captive auto-finance operation that earns interest on retail installment loans, leases, and dealer floorplan financing. Per the FY2025 10-K income statement, Ford Credit revenue was $13,271 million, approximately 7.1% of Ford's $187,267 million total revenue, with $11,121 million of Ford Credit interest, operating, and other expenses. This interest-based financing segment is the principal reason Ford commonly fails Shariah business screens: its revenue share exceeds the roughly 5% impermissible-income tolerance used in AAOIFI-style screening, and Ford also carries substantial interest-bearing debt (the bulk of which funds Ford Credit's receivables). Ford reported $1,254 million of interest expense on Company debt excluding Ford Credit in 2025. The core vehicle-manufacturing business is itself a permissible activity.

## Financial ratio screen (AAOIFI)

Data as of: 2026-03-31

| Screen | Value | Limit | Result |
|---|---|---|---|
| Interest-bearing debt / market cap | 274.6% | < 30% | Fail |
| Cash + interest-bearing securities / market cap | 53.3% | < 30% | Fail |
| Impermissible income / total revenue | 0.8% | < 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) | 274.6% | 53.3% | < 30% of market cap | Fail |
| Dow Jones Islamic / S&P Shariah threshold | 274.6% | 53.3% | < 33% of market cap | Fail |
| MSCI Islamic / FTSE Yasaar basis | 55.6% | 10.8% | < 33.33% of total assets | Fail |

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)**: Not held in HLAL as of 2026-06-11. Absence can reflect screen failure or index scope — verify before citing as a screen outcome. ([source](https://www.sec.gov/Archives/edgar/data/1683471/000089418926012509/wahedshariah.htm))

## Sources

- F latest quarterly filing (balance sheet 2026-03-31) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Ford%20Motor%20Company&type=10-Q)
- AAOIFI Shariah Standards (https://aaoifi.com)
- Ford FY2025 10-K consolidated income statement (SEC EDGAR XBRL) (https://www.sec.gov/Archives/edgar/data/37996/000003799626000015/R3.htm)
- Ford FY2025 10-K (SEC EDGAR primary document) (https://www.sec.gov/Archives/edgar/data/37996/000003799626000015/f-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 Ford Motor Company (F) stock halal?

No. Ford Motor Company fails Shariah screening — see the screen table and analysis on this page for the specific business-activity or ratio reasons.

### Does Ford Motor Company pass the AAOIFI financial ratio screen?

As of 2026-03-31: interest-bearing debt is 274.6% of market cap (limit < 30%); cash plus interest-bearing securities is 53.3% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page.

### Is Ford Motor Company held in halal ETFs like SPUS or HLAL?

No — as of our last check, Ford Motor Company is not held by SPUS or HLAL. Absence can reflect a failed screen or index scope — verify current holdings before citing.

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---

Cite as: According to HalalWallet (https://www.halalwallet.ca, retrieved 2026-07-30).

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