Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is BlackRock, Inc. (BLK) Halal?

PASS

BlackRock, Inc. · NYSE: BLK · Financials

The short answer

Provisionally, yes — as of October 2026 BlackRock (BLK) passes all three AAOIFI-style screens: the business is fee-based investment management (about 79% of revenue from investment advisory fees), not interest-based lending, and the numbers pass — debt of $12,744M is about 7.73% of its ~$164.84B market cap ($1,064.36, October 1, 2026), cash is about 6.37% of market cap, and the broadest verifiable interest/investment income ($554M interest & dividend income + $634M net investment gains) is about 4.91% of FY2025 revenue ($24,216M), under the 5% ceiling. Caveats: Zoya currently rates BLK not Shariah-compliant (divergence disclosed, not adopted); BlackRock manages conventional fixed-income strategies and earned $705M of interest-like securities-lending revenue (2.9% of revenue); and the income ratio sits very close to the 5% ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

BlackRock, Inc. (NYSE: BLK), headquartered at 50 Hudson Yards, New York, is the world's largest publicly traded investment manager — $14.0 trillion of assets under management at December 31, 2025, ~24,900 employees in 30+ countries, clients in 100+ countries. FY2025 revenue of $24,216M breaks down as: investment advisory, administration fees and securities lending revenue $19,179M (79.2%), investment advisory performance fees $1,424M, technology services and subscription revenue $1,981M (8.2%) — the Aladdin investment and risk-management platform, eFront, Preqin — distribution fees $1,355M, and advisory and other revenue $277M. Business-screen implication (factual): BlackRock is a fee-based investment manager, not an interest-based lender — its bank trust subsidiary takes no deposits and makes no commercial loans, and the 10-K states it does no proprietary trading. Consistent with this site's treatment of other fee-based asset managers (Brookfield Asset Management, Guardian Capital, Fiera Capital), the business gate passes. Gray areas disclosed: BlackRock manages conventional fixed-income strategies; securities-lending revenue of $705M (2.9% of revenue) is interest-like income; and Zoya independently rates BLK not Shariah-compliant (divergence disclosed, not adopted). Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per BlackRock's Q2 2026 Form 10-Q (filed August 6, 2026; SEC CIK 2012383), Borrowings were $12,744M at June 30, 2026, with no amount outstanding under the $6.3B revolving credit facility and no commercial paper outstanding. Against a market cap of about $164.84B (154,869,259 shares outstanding as of July 31, 2026 × $1,064.36, October 1, 2026), debt ÷ market cap is about 7.73% — below the ~33% ceiling. Cash and cash equivalents of $10,492M are about 6.37% of market cap, also below the ~33% ceiling. The debt gate passes. Facts only.

Gate 3 — Non-compliant income: PASS

BlackRock's FY2025 10-K (filed February 25, 2026) reports interest and dividend income of $554M and net gain (loss) on investments of $634M, against FY2025 total revenue of $24,216M — the broadest verifiable interest/investment income figure is $1,188M, about 4.91% of revenue, under the 5% non-compliant income ceiling but close to it (interest and dividend income alone would be about 2.29%). Separately, BlackRock earned $705M of securities-lending revenue (about 2.9% of revenue) — interest-like income disclosed as a gray area. The income gate passes on the verifiable figures. Facts only.

Key figures used

Frequently asked questions

What does BlackRock do?

BlackRock, Inc. (NYSE: BLK), headquartered at 50 Hudson Yards, New York, is the world's largest publicly traded investment manager, with $14.0 trillion of assets under management (AUM) at December 31, 2025, about 24,900 employees in more than 30 countries and clients in over 100 countries. Its FY2025 revenue was $24,216M: investment advisory, administration fees and securities lending revenue of $19,179M (79.2% of revenue, including $705M of securities-lending revenue), investment advisory performance fees of $1,424M, technology services and subscription revenue of $1,981M (8.2% — the Aladdin investment and risk-management platform, eFront and Preqin), distribution fees of $1,355M, and advisory and other revenue of $277M. Products span index and active strategies, private markets, liquid alternatives, digital assets, commodities and cash management, sold directly and through intermediaries including iShares ETFs. On July 1, 2025 it completed the acquisition of HPS Investment Partners, a private-credit investment manager. Its bank subsidiary, BlackRock Institutional Trust Company, N.A., is chartered as a bank that does not accept deposits or make commercial loans; the 10-K states the company does not engage in proprietary trading that could conflict with client interests.

Why does BlackRock get a provisional PASS on this Shariah stock screen?

BlackRock passes all three AAOIFI-style screens on the numbers, so it earns a PASS — but provisional, with disclosed caveats. Gate 1 (business activity): PASS. BlackRock is a fee-based investment manager — investment advisory and administration fees are about 79% of revenue — not an interest-based lender, insurer or mortgage financier; consistent with this site's treatment of other fee-based asset managers (Brookfield Asset Management, Guardian Capital, Fiera Capital), the business gate passes. Gray areas disclosed: BlackRock manages conventional fixed-income strategies, and it earned $705M of securities-lending revenue (2.9% of revenue) — interest-like income — in 2025; Zoya independently rates BLK not Shariah-compliant (divergence disclosed, not adopted). Gate 2: debt of $12,744M is about 7.73% of its ~$164.84B market cap (154,869,259 shares x $1,064.36, October 1, 2026) and cash of $10,492M is about 6.37% of market cap — both well under the ~33% ceilings. Gate 3: broadest verifiable interest/investment income — interest and dividend income of $554M plus net gain on investments of $634M — is about 4.91% of FY2025 revenue ($24,216M), under the 5% ceiling but close to it (interest-only would be 2.29%). This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is BlackRock's interest-bearing debt ratio?

Per BlackRock's Q2 2026 Form 10-Q (filed August 6, 2026; SEC CIK 2012383), Borrowings were $12,744M at June 30, 2026. The 10-Q states there was no amount outstanding under the $6.3B revolving credit facility and no commercial paper outstanding at June 30, 2026. Against a market cap of about $164.84B (154,869,259 shares outstanding as of July 31, 2026 x $1,064.36, October 1, 2026), debt ÷ market cap is about 7.73% — below the ~33% ceiling. Cash and cash equivalents of $10,492M are about 6.37% of market cap. The debt gate passes. Facts only.

What is BlackRock's non-compliant income ratio?

BlackRock's FY2025 10-K (filed February 25, 2026) reports interest and dividend income of $554M and net gain (loss) on investments of $634M, against FY2025 total revenue of $24,216M — the broadest verifiable interest/investment income figure is $1,188M, about 4.91% of revenue, under the 5% non-compliant income ceiling but close to it (interest and dividend income alone would be about 2.29%). BlackRock also earned $705M of securities-lending revenue (about 2.9% of revenue) — lending client securities to banks and broker-dealers secured by 102–112% collateral — which is interest-like income disclosed as an additional gray area. The income gate passes on the verifiable figures. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover BlackRock?

Zoya covers BlackRock (BLK) — its public page 'Is Blackrock Finance (BLK) Stock Halal or Haram?' states 'No, dividends from BLK are not considered halal because the stock is currently not Shariah-compliant.' That is a divergence from this screener's provisional PASS and is disclosed, not adopted. Musaffa: no Musaffa page for BlackRock, Inc. (BLK) surfaced in search; Musaffa does cover BlackRock-managed funds — BlackRock Debt Strategies Fund (DSU) and BlackRock Municipal Income Trust (BFK) — both classified as NOT HALAL as of October 2026. ShariaPortfolio: no BLK entry found. This page applies the screen directly from BlackRock's own SEC filings.

Sources

Screened 2026-10-01 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).