NYSE Shariah screener · October 2026

Is Chevron Corporation (CVX) Halal?

PASS

Chevron Corporation · NYSE: CVX · Energy

The short answer

Yes — Chevron Corporation (CVX) passes this Shariah stock screen. The integrated energy company (upstream oil & gas plus downstream refining, petrochemicals and renewables; San Ramon, California) has no disclosed prohibited business lines — its captive insurance operations are internal corporate insurance, not a conventional insurance business. Its total debt of $37,075M is about 9.13% of its ~$406.3B market cap ($207.10, October 1, 2026), below the ~33% ceiling. Chevron discloses no separate interest-income line — Zoya's parse of the FY2025 annual report shows $0, and 10-Q footnotes show only small incidental amounts — about 0.0% of trailing-twelve-month revenue ($215,261M), below the 5% ceiling. Zoya independently rates Chevron Shariah-compliant; no Musaffa or ShariaPortfolio rating was found — honestly reported as absent, not invented.

Gate 1 — Business activity: PASS

Chevron Corporation (NYSE: CVX), headquartered in San Ramon, California, is an integrated energy company with two reportable segments per its SEC filings. Upstream: exploring for, developing, producing and transporting crude oil and natural gas; LNG liquefaction, transportation and regasification; natural gas processing, storage and marketing; carbon capture and storage. Downstream: refining crude oil into petroleum products; marketing crude oil, refined products and lubricants; manufacturing and marketing renewable fuels, commodity petrochemicals, plastics and fuel/lubricant additives; transport by pipeline, marine vessel, motor equipment and rail. "All Other" covers corporate treasury, admin, real estate, technology and captive insurance operations — internal corporate insurance, not a conventional insurance business offered to the public. No prohibited lines are disclosed — no alcohol, gambling, pork, tobacco, adult entertainment, weapons or conventional banking/insurance. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Chevron's Q2 2026 earnings release financial review (unaudited, July 31, 2026), total debt was $37,075M at June 30, 2026. Against a market cap of about $406.3B ($207.10 close on October 1, 2026), debt ÷ market cap is about 9.13%, below the ~33% ceiling. Cash and cash equivalents ($8,527M) plus time deposits ($3M) total $8,530M, about 2.10% of market cap (marketable securities $0, derived from the disclosed net-debt reconciliation: net debt $28,545M). Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Chevron's income statement carries no separate interest-income line. Zoya's parse of Chevron's FY2025 annual report shows interest income of $0; the 10-Q segment footnotes disclose only small incidental interest income in "All Other" (e.g. $63M in Q2 2025) — about 0.0% of trailing-twelve-month revenue ($215,261M), below the 5% non-compliant income ceiling. Even annualizing the $63M quarterly figure (~0.12%) stays far under the ceiling. Gate 3 passes. Facts only.

Key figures used

Business: integrated energy — Upstream (crude oil & natural gas exploration/production/transport; LNG; gas processing/storage/marketing; carbon capture) and Downstream (refining; refined products/lubricants marketing; renewable fuels; petrochemicals/plastics/additives); San Ramon, CA
Total debt: $37,075M at Jun 30, 2026 — debt ÷ market cap ≈ 9.13% of ~$406.3B ($207.10, Oct 1, 2026), under the ~33% ceiling
Cash: $8,530M (cash & equivalents $8,527M + time deposits $3M; marketable securities $0) ≈ 2.10% of market cap
Interest income: ≈$0 — no separate interest-income line on the income statement (Zoya FY2025 parse: $0); incidental 10-Q amounts (e.g. $63M Q2 2025) ≈ 0.0% of TTM revenue $215,261M, under the 5% ceiling
Captive insurance operations are internal corporate insurance, not a conventional insurance business offered to the public
Zoya: Shariah-compliant (halal, Sep 2026); Musaffa: no public page found; ShariaPortfolio: no rating found

Frequently asked questions

What does Chevron do?

Chevron Corporation (NYSE: CVX), headquartered in San Ramon, California, is an integrated energy company with two reportable segments. Upstream: exploring for, developing, producing and transporting crude oil and natural gas; LNG liquefaction, transportation and regasification; natural gas processing, storage and marketing; carbon capture and storage. Downstream: refining crude oil into petroleum products; marketing crude oil, refined products and lubricants; manufacturing and marketing renewable fuels, commodity petrochemicals, plastics and fuel/lubricant additives; transport by pipeline, marine vessel, motor equipment and rail.

Why does Chevron pass this Shariah stock screen?

Chevron passes all three gates of this screen. Its business is integrated oil and gas (upstream + downstream/chemicals) with no disclosed prohibited lines — no alcohol, gambling, pork, tobacco, adult entertainment, weapons, or conventional banking/insurance (its captive insurance operations are internal corporate insurance, not an insurance business offered to the public). Total debt of $37,075M is about 9.13% of its ~$406.3B market cap, below the ~33% ceiling. Chevron discloses no separate interest-income line on its income statement — Zoya's parse of the FY2025 annual report shows $0 interest income, and 10-Q footnotes show only small incidental amounts (e.g. $63M in Q2 2025), i.e. about 0.0% of revenue, below the 5% ceiling. Zoya independently rates Chevron Shariah-compliant. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is Chevron's interest-bearing debt ratio?

Per Chevron's Q2 2026 earnings release financial review (unaudited, July 31, 2026), total debt was $37,075M at June 30, 2026. Against a market cap of about $406.3B ($207.10 close, October 1, 2026), debt ÷ market cap is about 9.13% — below the ~33% ceiling. Cash and cash equivalents ($8,527M) plus time deposits ($3M) total $8,530M, about 2.10% of market cap (marketable securities $0, derived from the disclosed net-debt reconciliation).

What is Chevron's non-compliant income ratio?

Chevron's income statement carries no separate interest-income line. Zoya's parse of Chevron's FY2025 annual report shows interest income of $0; the 10-Q segment footnotes disclose only small incidental interest income in "All Other" (e.g. $63M in Q2 2025) — about 0.0% of trailing-twelve-month revenue ($215,261M), below the 5% non-compliant income ceiling. Even annualizing the $63M quarterly figure (~0.12%) stays far under the ceiling.

Do Zoya, Musaffa, or ShariaPortfolio cover Chevron?

Zoya covers CVX and rates it Shariah-compliant (halal), last updated September 2026 (zoya.finance/stocks/cvx), citing the FY2025 annual report. No public Musaffa screening page for CVX was found — their per-stock ratings live behind their site/app — and no public ShariaPortfolio rating for CVX was found; both are honestly reported as absent, not invented. This page applies the screen directly from Chevron's own 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).