Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Carlisle Companies Incorporated (CSL) Halal?

PASS

Carlisle Companies Incorporated · NYSE: CSL · Industrials

The short answer

Carlisle Companies passes all three Shariah gates: it is a pure-play building-envelope manufacturer (roofing, waterproofing, insulation) with no prohibited lines, carries about $2.9 billion of interest-bearing debt (22.4% of its ~$12.9 billion market cap), and interest income of about 0.5% of FY2025 revenue is under the 5% ceiling.

Gate 1 — Business activity: PASS

Gate 1 — business activity: PASS. Carlisle Companies Incorporated, per its FY2025 Form 10-K (filed February 13, 2026), describes itself as 'a leading supplier of innovative building envelope products and solutions for more energy-efficient buildings.' It reports two segments, both building envelope: Carlisle Construction Materials (CCM) — single-ply roofing (EPDM, TPO, PVC), polyisocyanurate insulation, architectural metal and roof garden systems, sold under the Carlisle SynTec, Versico, WeatherBond, Hunter Panels, Resitrix, and Hertalan brands; and Carlisle Weatherproofing Technologies (CWT) — waterproofing and moisture protection, protective roofing underlayments, air and vapor barriers, spray polyurethane foam and coatings, and block-molded EPS insulation.

The former Carlisle Fluid Technologies and Carlisle Interconnect Technologies businesses were divested and are classified as discontinued operations for all periods. The 10-K discloses no interest-based lending, tobacco, gambling, pork, alcohol, conventional banking or insurance, or weapons activity. The multi-year roofing warranties sold (5 to 40 years, $342.5 million of contract liability at December 31, 2025) are product warranties, not insurance underwriting. The business passes gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (22.4%, ceiling 33%). Per Carlisle Companies' Q2 2026 10-Q (filed July 30, 2026), long-term debt was $2,884.9 million at June 30, 2026, with the $1.0 billion revolving credit facility undrawn. The FY2025 Form 10-K (Note 13) reports total debt of $2,886.4 million — five unsecured senior-note series (5.55% 2040 $500M, 5.25% 2035 $500M, 2.20% 2032 $550M, 2.75% 2030 $750M, 3.75% 2027 $600M) — less $4.8 million of current portion. Operating lease liabilities ($30.2 million current plus $105.4 million long-term at December 31, 2025, per Note 15) are excluded — they are not interest-bearing debt.

$2,884.9 million against a market capitalization of about $12.9 billion (Finnhub: live price $325.21 on October 2, 2026; about 39.7 million shares outstanding, so 325.21 x 39.714M = about $12.92B — matching the $12.9B reference) is about 22.4% — under the 33% ceiling. Cash and cash equivalents of $665.3 million at June 30, 2026 ($1,112.1 million at December 31, 2025) represent about 5.2% of market cap.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS (0.52%, ceiling 5%). Carlisle Companies' FY2025 Form 10-K separately discloses interest income on its Consolidated Statements of Income: $25.9 million of interest income against revenues of $5,019.9 million is about 0.52% — well under the 5% ceiling (interest expense was $78.5 million).

For the first half of 2026, interest income of $15.5 million against revenues of $2,622.4 million was about 0.59% — also under the ceiling. The most recent annual figure (0.52%) is used for this gate.

Key figures used

Frequently asked questions

What does Carlisle Companies do?

Carlisle Companies Incorporated (NYSE: CSL) is a pure-play building-envelope manufacturer, per its FY2025 Form 10-K (filed February 13, 2026). It reports two segments: Carlisle Construction Materials (CCM) — single-ply roofing (EPDM, TPO, PVC), polyisocyanurate insulation, architectural metal and roof garden systems, sold under the Carlisle SynTec, Versico, WeatherBond, Hunter Panels, Resitrix, and Hertalan brands — and Carlisle Weatherproofing Technologies (CWT) — waterproofing and moisture protection, roofing underlayments, air and vapor barriers, spray polyurethane foam and coatings, and block-molded EPS insulation. Its former Carlisle Fluid Technologies and Carlisle Interconnect Technologies businesses were divested and are reported as discontinued operations.

Is Carlisle Companies' business Shariah compliant?

Carlisle Companies' business passes this screener's first gate. It manufactures building-envelope products — roofing, waterproofing, and insulation — and is not an interest-based lender. The 10-K discloses no tobacco, gambling, pork, alcohol, conventional banking or insurance, or weapons activity. The multi-year roofing warranties it sells (5 to 40 years; $342.5 million of contract liability at year-end 2025) are product warranties, not insurance underwriting.

How much interest-bearing debt does Carlisle Companies have?

Carlisle Companies' Q2 2026 10-Q reports long-term debt of $2,884.9 million at June 30, 2026, with its $1.0 billion revolving credit facility undrawn. Its FY2025 10-K reports total debt of $2,886.4 million — five unsecured senior-note series (5.55% 2040 $500M, 5.25% 2035 $500M, 2.20% 2032 $550M, 2.75% 2030 $750M, 3.75% 2027 $600M), less $4.8 million of current portion. Operating lease liabilities ($30.2 million current plus $105.4 million long-term at December 31, 2025) are excluded because they are not interest-bearing debt. Against a market capitalization of about $12.9 billion — Finnhub live price $325.21 on October 2, 2026 with about 39.7 million shares outstanding — $2,884.9 million is about 22.4%, under the 33% ceiling.

How much interest income does Carlisle Companies earn?

Carlisle Companies' FY2025 10-K separately discloses interest income of $25.9 million against revenues of $5,019.9 million, which is about 0.52% — under the 5% non-compliant income ceiling. Interest expense was $78.5 million. For the first half of 2026, interest income of $15.5 million against revenues of $2,622.4 million was about 0.59%.

What do third-party Shariah screeners say about Carlisle Companies?

Zoya publishes a CSL page that cites the same FY2025 figures ($25.9 million of interest income against $5,019.9 million of revenue, about 0.52%), but its current compliance rating did not render in a text fetch, so no rating can be reported from it — and its segment blurb is stale, still listing the divested Interconnect Technologies and Fluid Technologies businesses. No Musaffa stock page for Carlisle Companies and no ShariaPortfolio rating could be found through public web searches, so both are treated as not covering it. Third-party screeners apply different assumptions and update on different schedules — 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).