Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Ball Corporation (BALL) Halal?

FAIL

Ball Corporation · NYSE: BALL · Materials

The short answer

Ball Corporation fails this screener on the debt gate: $7.22 billion of interest-bearing debt is 47.8% of its ~$15.1 billion market cap, over the 33% ceiling. Its aluminum-packaging business is permissible and interest income is only 0.23% of revenue, but the debt load rules it out.

Gate 1 — Business activity: PASS

Gate 1 — business activity: PASS. Ball Corporation is an aluminum-packaging manufacturer headquartered in Colorado. Per its FY2025 Form 10-K (fiscal year ended December 31, 2025, filed February 19, 2026), it supplies aluminum beverage containers, extruded aluminum aerosol cans, recloseable aluminum bottles, and aluminum slugs to beverage, personal care, and household-products companies. It divested its aerospace business to BAE Systems for $5.6 billion in February 2024, leaving a pure packaging business.

The company's revenue comes from packaging manufacturing — not alcohol production, tobacco, gambling, pork, or interest-based lending. Some packaging customers are beer brands, but that is the customer's business, not Ball's revenue line; the business passes gate 1.

Gate 2 — Debt and cash: FAIL

Gate 2 — interest-bearing debt: FAIL (47.8%, ceiling 33%). Per the unaudited condensed consolidated balance sheet in Ball's Q2 2026 earnings release (period ended June 30, 2026), interest-bearing debt totaled $7,220 million: long-term debt of $6,528 million plus short-term debt and current portion of long-term debt of $692 million. The FY2025 10-K (Note 15) reports no commercial paper outstanding. Operating lease liabilities are excluded — they are not interest-bearing debt.

$7.22 billion against a market capitalization of about $15.1 billion (companiesmarketcap.com, September 28, 2026) is 47.8%, over the 33% ceiling. Cash and cash equivalents of $491 million at June 30, 2026 represent about 3.2% of market cap.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS (0.23%, ceiling 5%). Ball's FY2025 Form 10-K separately discloses interest income in the MD&A: "Interest income was $30 million in 2025 compared to $68 million in 2024. These amounts represented less than 1 percent of consolidated net sales for the years ended 2025 and 2024." It also appears as a separate line on the Consolidated Statements of Earnings ($30 million, $68 million and $36 million for 2025, 2024 and 2023).

$30 million of interest income against FY2025 net sales of $13,161 million is about 0.23%, far under the 5% ceiling. The Q2 2026 release reports $20 million of interest income for the six months ended June 30, 2026.

Key figures used

Frequently asked questions

What does Ball Corporation do?

Ball Corporation (NYSE: BALL), headquartered in Colorado and founded in 1880, is one of the world's largest manufacturers of aluminum packaging. Per its FY2025 Form 10-K (fiscal year ended December 31, 2025, filed February 19, 2026), it supplies aluminum beverage containers, extruded aluminum aerosol cans, recloseable aluminum bottles, and aluminum slugs to beverage, personal care, and household-products companies. It sold its aerospace business to BAE Systems for $5.6 billion in February 2024 and is now a pure packaging company.

Is Ball Corporation's business Shariah compliant?

Ball's revenue comes from manufacturing aluminum packaging - not from alcohol production, tobacco, gambling, pork, or interest-based lending. Some of its packaging customers are beer brands, but Ball's revenue is from cans, not alcohol sales - the company's revenue comes overwhelmingly from packaging ($13,161 million of net sales in FY2025), so the business passes this screener's first gate.

How much interest-bearing debt does Ball Corporation have?

Ball's interest-bearing debt was $7,220 million at June 30, 2026 - long-term debt of $6,528 million plus short-term debt and current portion of long-term debt of $692 million, per the condensed consolidated balance sheet in its Q2 2026 earnings release (period ended June 30, 2026). Operating lease liabilities are excluded as they are not interest-bearing debt. $7.22 billion against a market capitalization of about $15.1 billion (companiesmarketcap.com, September 28, 2026) is 47.8%, over the 33% ceiling - the stock fails this gate.

How much interest income does Ball Corporation earn?

Ball's FY2025 Form 10-K separately discloses interest income in the MD&A: 'Interest income was $30 million in 2025 compared to $68 million in 2024. These amounts represented less than 1 percent of consolidated net sales for the years ended 2025 and 2024.' It also appears as a separate line on the Consolidated Statements of Earnings ($30 million, $68 million and $36 million for 2025, 2024 and 2023). $30 million of interest income against FY2025 net sales of $13,161 million is about 0.23% - far under the 5% non-compliant income ceiling. (The Q2 2026 release reports $20 million of interest income for the six months ended June 30, 2026.)

What do third-party Shariah screeners say about Ball Corporation?

Musaffa publishes a Ball (BALL) page and currently rates it NOT HALAL under its AAOIFI methodology (October 2026). Zoya also publishes a BALL page, but its page text is internally contradictory about the rating, so a clean Zoya rating could not be verified. I could not find a ShariaPortfolio per-stock rating page for BALL. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).