HalalGauge
FCX · Basic Materials
Freeport-McMoRan Inc.

Is Freeport-McMoRan Inc. (FCX) halal?

Freeport-McMoRan Inc. is considered halal under 4 of 5 standards — the scholars disagree. Below is the verdict under each of the five mainstream scholarly standards, with the deciding numbers and the source behind every threshold.

Ratios computed from Freeport-McMoRan Inc.'s Q1 2026 filing (source). Verdicts are re-computed when new financials are filed.

FCX verdict by standard · 4 halal · 0 borderline · 1 not halal
  • AAOIFI Standard

    All ratio checks pass.

    Halal
  • Mufti Taqi Usmani (stricter Hanafi)

    All ratio checks pass.

    Halal
  • Dow Jones Islamic Market

    All ratio checks pass.

    Halal
  • Ja'fari (Sistani-aligned)

    All ratio checks pass.

    Halal
  • Strict / zero-tolerance

    Impermissible income / revenue 0.6% (limit 0%); Interest-bearing debt / market cap 12.6% (limit 0%); Cash + interest-bearing securities / market cap 4.5% (limit 0%)

    Not halal
Where the standards agree & differ
Halal under 4 of 5 standards
4/5 halal

The standards disagree — knowing why lets you decide which view you follow.

Why they differ
  • Debt cap

    Interest-bearing debt is 12.6% of market cap — over the 0% cap used by Strict, but within the 30%/33% cap of AAOIFI, Mufti Taqi, DJIM and Ja'fari.

  • Cash & securities cap

    Cash + interest-bearing securities are 4.5% of market cap — above the limit Strict apply, but within AAOIFI, Mufti Taqi, DJIM and Ja'fari's.

  • Impermissible income

    Impermissible (mostly interest) income is 0.6% of revenue — Strict allow 0% here, the others up to 5%.

Each difference is computed from the exact threshold each standard publishes — not an opinion. Pick the standard your scholar follows; HalalGauge shows the receipts either way.

The numbers behind the verdict

Interest-bearing debt / market cap
12.6%
Cash + securities / market cap
4.5%
Receivables / market cap
1.8%
Impermissible income / revenue
0.6%
Illiquid (tangible) assets / total
83.0%

Thresholds and methodology differ by scholar — e.g. AAOIFI caps interest-bearing debt at 30% of market cap, DJIM at 33%, and Mufti Taqi additionally requires tangible assets to be at least 20% of total assets. That's why two screeners can disagree on the same stock.

Screen FCX interactively See the full balance sheet How the methodologies work
Sources

Other Basic Materials tickers

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HalalGauge surfaces published scholarly methodologies with full sourcing; it does not issue fatwa or certify any security as halal. Verify with a qualified scholar before investing.