--- title: "Is Suncor Energy Stock Halal?" canonical: https://www.halalwallet.ca/is-it-halal/suncor-energy-stock publisher: HalalWallet license: CC BY 4.0 verdict: halal verdict_label: Halal entity_type: stock ticker: SU.TO exchange: TSX last_reviewed: 2026-06-15 data_as_of: 2026-03-31 standards_disagree: false --- # Is Suncor Energy Stock Halal? **Verdict: Halal** (Generally permissible) Suncor Energy Inc. (SU.TO) passes our AAOIFI-based screen. Its core business is permissible, and (data as of 2026-03-31) interest-bearing debt is 9.9% of market cap and cash plus interest-bearing securities 3.2% — both inside the 30% AAOIFI thresholds. It is independently held by Shariah-screened ETF WSHR, 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 Suncor Energy currently sits on the compliant side of the ledger for most major screening services. Producing, upgrading, refining, and selling oil is a permissible business, and Suncor passes the quantitative screens as well: Zoya and Musaffa both publicly classify the stock as Shariah-compliant based on its latest financial reports, it appears in the Wealthsimple Shariah World Equity Index ETF (WSHR) holdings, and it is a constituent of the S&P/TSX 60 Shariah index. Two nuances are worth knowing. First, Suncor's Petro-Canada chain includes convenience stores that, like gas-station retail generally, sell items such as tobacco and lottery tickets alongside fuel; Suncor does not break out revenue at that level, and screening bodies have evidently treated this as incidental within a fuel-dominated retail business. Second, energy is a capital-intensive industry, so Suncor's debt ratios, while currently within screening thresholds according to the public screener verdicts, can shift with commodity cycles and the share price. For a Canadian Muslim investor wanting large-cap TSX energy exposure with a dividend, Suncor is one of the names that currently clears independent screening from multiple directions. The standard discipline still applies: verify the live compliance status on a screening app before buying, purify the small impermissible-income portion of dividends as your app calculates, and re-check quarterly. ## Business activity screen Result: Pass Suncor Energy is an integrated energy company headquartered in Calgary, with reporting segments for Oil Sands, Exploration and Production, and Refining and Marketing. Its operations span oil sands development, production and upgrading (including the wholly owned Fort Hills project), offshore oil production, petroleum refining in Canada and the U.S., and the Petro-Canada retail and wholesale fuel distribution network. Oil and gas production and refining are permissible business activities. Suncor's Petro-Canada retail network includes convenience stores at fuel stations, which, like convenience retail generally, can involve sales of tobacco and lottery products; Suncor does not disclose revenue at that category level, and fuel dominates the retail business. The principal quantitative consideration is interest-bearing debt typical of capital-intensive energy companies, which should be checked on a current screener; both Zoya and Musaffa currently classify the stock as compliant, and it is held in WSHR. ## Financial ratio screen (AAOIFI) Data as of: 2026-03-31 | Screen | Value | Limit | Result | |---|---|---|---| | Interest-bearing debt / market cap | 9.9% | < 30% | Pass | | Cash + interest-bearing securities / market cap | 3.2% | < 30% | Pass | | Impermissible income / total revenue | 0.4% | < 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) | 9.9% | 3.2% | < 30% of market cap | Pass | | Dow Jones Islamic / S&P Shariah threshold | 9.9% | 3.2% | < 33% of market cap | Pass | | MSCI Islamic / FTSE Yasaar basis | 10.9% | 3.5% | < 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 - **Wealthsimple Shariah World Equity Index ETF (WSHR)**: Held in WSHR as of 2026-06-11 — passed the Shariah screen applied by the index provider. ([source](https://help.wealthsimple.com/hc/en-ca/articles/1500011334461-Stocks-held-in-the-Wealthsimple-Shariah-World-Equity-Index-ETF-WSHR)) - **undefined**: undefined - **undefined**: undefined - **SP Funds S&P 500 Sharia ETF (SPUS)**: Verify current SPUS schedule before citing as held (reference SOI 2026-02-28). ([source](https://www.sec.gov/Archives/edgar/data/1742912/000200032426001717/spus-soi_022826.htm)) - **Wahed FTSE USA Shariah ETF (HLAL)**: Verify current HLAL holdings before citing as held (reference 2026-06-05). ([source](https://stockanalysis.com/etf/hlal/holdings/)) ## 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 - SU.TO latest filings on SEDAR+ (balance sheet 2026-03-31) (https://www.sedarplus.ca/csa-party/records/document.html) - AAOIFI Shariah Standards (https://aaoifi.com) - Suncor Investor Relations (https://www.suncor.com/en-ca/investors) - Zoya screener page for SU (https://zoya.finance/stocks/su) - Musaffa screener page for SU.TO (https://musaffa.com/stock/SU.TO/) - WSHR holdings list (Wealthsimple) (https://help.wealthsimple.com/hc/en-ca/articles/1500011334461-Stocks-held-in-the-Wealthsimple-Shariah-World-Equity-Index-ETF-WSHR) - S&P/TSX 60 Shariah index page (spglobal.com) (https://www.spglobal.com/spdji/en/indices/equity/sp-tsx-60-shariah-index/) ## Frequently asked questions ### Is Suncor Energy Inc. (SU.TO) stock halal? Yes, under our AAOIFI-based methodology Suncor Energy Inc. 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 Suncor Energy Inc. pass the AAOIFI financial ratio screen? As of 2026-03-31: interest-bearing debt is 9.9% of market cap (limit < 30%); cash plus interest-bearing securities is 3.2% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page. ### Is Suncor Energy Inc. held in halal ETFs like SPUS or HLAL? Yes — as of our last check, Suncor Energy Inc. is held by WSHR. 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 Suncor Energy Inc.? 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