Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is The Coca-Cola Company (KO) Halal?

PASS

The Coca-Cola Company · NYSE: KO · Consumer Staples

The short answer

Yes — The Coca-Cola Company (KO) passes this Shariah stock screen. The world's largest nonalcoholic beverage company (concentrates, finished drinks, bottling; ~200 brands; Atlanta) has no pork, gambling, adult entertainment, conventional insurance, tobacco or weapons involvement. Its total debt of $43,890M is about 11.85% of its ~$370.4B market cap ($86.10, October 1, 2026), below the ~33% ceiling. Interest income of $222M is about 1.78% of Q1 2026 revenue ($12,472M), below the 5% ceiling (FY2025: 1.64%, matching Zoya's figures). Required disclosure: the 10-K confirms Coca-Cola sells alcohol beverages (Jack Daniel's & Coca-Cola premixed cocktails, Lemon-Dou, Topo Chico Hard Seltzer) via a firewalled subsidiary, with revenue not separately quantified — an ancillary line, stated plainly for readers applying a stricter standard. Musaffa rates KO HALAL and ShariaPortfolio rates it Shariah Compliant; Zoya covers KO but its page badge is ambiguous from the text.

Gate 1 — Business activity: PASS

The Coca-Cola Company (NYSE: KO), headquartered in Atlanta, Georgia, is the world's largest nonalcoholic beverage company (~200 brands: Coca-Cola, Sprite, Fanta, Dasani, Powerade, Minute Maid, Costa coffee; ~84% of 2024 unit case volume sold outside the US). Per its FY2025 10-K it operates concentrate operations (59% of 2024 revenue) and finished-product/bottling operations. Required factual disclosure — alcohol line: the 10-K explicitly states the company "has also directly entered the alcohol beverage category in numerous markets outside the United States" and that a wholly owned, indirect, firewalled subsidiary uses third-party manufacturers and distributors to produce, distribute and sell alcohol products in the United States — across three lines: premixed cocktails (e.g. Jack Daniel's & Coca-Cola), flavored alcohol beverages (e.g. Lemon-Dou) and hard seltzers (e.g. Topo Chico Hard Seltzer). Alcohol revenue is not separately quantified anywhere in the filings — disclosed only qualitatively. It is an ancillary line within a beverage giant, and both third-party screeners that give clean ratings (Musaffa: HALAL; ShariaPortfolio: Shariah Compliant) pass KO — but readers applying a stricter standard on alcohol should note this line. No pork, gambling, adult entertainment, conventional insurance, tobacco or weapons involvement was found. Gate 1 passes with the alcohol line disclosed. Facts only.

Gate 2 — Debt and cash: PASS

Per Coca-Cola's Q1 2026 10-Q (quarter ended April 3, 2026, filed April 30, 2026; SEC companyfacts XBRL feed), total debt was $43,890M — notes and loans payable $332M, current maturities $4,493M, and long-term debt and capital leases $39,065M. Against a market cap of about $370.4B (4,302,482,418 shares at April 28, 2026 × $86.10 on October 1, 2026), debt ÷ market cap is about 11.85%, below the ~33% ceiling. (FY2025 cross-check: debt $45,492M ≈ 12.28%.) Cash ($10,574M) plus short-term investments ($509M) and marketable securities ($2,737M) total $13,820M, about 3.73% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Coca-Cola's Q1 2026 10-Q reports interest income of $222M against revenue of $12,472M — about 1.78% of revenue, below the 5% non-compliant income ceiling. FY2025 10-K cross-check (filed February 20, 2026): interest income $786M on revenue $47,941M = 1.64% — matching Zoya's independently cited figures exactly. (The Q2 2026 10-Q exists, but its XBRL facts had not propagated into the SEC companyfacts feed at research time, so this page uses the latest fully-verifiable filing with the FY2025 cross-check.) Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does Coca-Cola do?

The Coca-Cola Company (NYSE: KO), headquartered in Atlanta, Georgia, is the world's largest nonalcoholic beverage company (~200 brands including Coca-Cola, Sprite, Fanta, Dasani, Powerade, Minute Maid and Costa coffee; ~84% of 2024 unit case volume sold outside the US). Per its FY2025 10-K it operates concentrate operations (59% of 2024 revenue) and finished-product/bottling operations.

Why does Coca-Cola pass this Shariah stock screen?

Coca-Cola passes all three gates of this screen. Its business is nonalcoholic beverages — concentrates, finished drinks and bottling — with no pork, gambling, adult entertainment, conventional banking/insurance, tobacco or weapons involvement. Total debt of $43,890M is about 11.85% of its ~$370.4B market cap, below the ~33% ceiling. Interest income of $222M is about 1.78% of Q1 2026 revenue ($12,472M), below the 5% ceiling (FY2025: $786M on $47,941M = 1.64%). Musaffa rates KO HALAL and ShariaPortfolio rates it Shariah Compliant. Required factual disclosure: the 10-K confirms Coca-Cola sells alcohol beverages (see below) — stated plainly so readers applying a stricter standard can decide for themselves. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is Coca-Cola's interest-bearing debt ratio?

Per Coca-Cola's Q1 2026 10-Q (quarter ended April 3, 2026, filed April 30, 2026; SEC companyfacts XBRL feed), total debt was $43,890M — notes and loans payable $332M, current maturities $4,493M, and long-term debt and capital leases $39,065M. Against a market cap of about $370.4B (4,302,482,418 shares at April 28, 2026 × $86.10, October 1, 2026), debt ÷ market cap is about 11.85% — below the ~33% ceiling. (FY2025 cross-check: debt $45,492M ≈ 12.28%.) Cash ($10,574M) plus short-term investments ($509M) and marketable securities ($2,737M) total $13,820M, about 3.73% of market cap.

What is Coca-Cola's non-compliant income ratio?

Coca-Cola's Q1 2026 10-Q reports interest income of $222M against revenue of $12,472M — about 1.78% of revenue, below the 5% non-compliant income ceiling. The FY2025 10-K cross-check (filed February 20, 2026): interest income $786M on revenue $47,941M = 1.64% — matching Zoya's independently cited figures exactly. The Q2 2026 10-Q exists but its XBRL facts had not propagated into the SEC companyfacts feed at research time, so the page uses the latest fully-verifiable filing (Q1 2026 10-Q) with the FY2025 10-K cross-check.

Do Zoya, Musaffa, or ShariaPortfolio cover Coca-Cola?

Musaffa covers KO and rates it HALAL as of September 2026 under AAOIFI methodology (musaffa.com/stock/KO/). ShariaPortfolio covers KO as "Shariah Compliant" ("passes 3/5 Shariah standards") (spscreener.mxcorporate.com/stock/ko-coca-cola-co/). Zoya covers KO (zoya.finance/stocks/ko, last updated October 2026) with figures matching the SEC filings exactly (FY2025 revenue $47,941M, interest income $786M = 1.64%), but its page renders conflicting template variants, so its definitive badge is not extractable from the page text and is reported as covered-but-ambiguous.

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).