NYSE Shariah screener · October 2026
Is Conagra Brands, Inc. (CAG) Halal?
Conagra Brands, Inc. · NYSE: CAG · Consumer Staples
The short answer
Conagra Brands' packaged-foods business shows no haram product lines, but it fails on leverage: total debt of $7,760.1 million is 116.0% of its ~$6.69 billion market cap (over the 33% ceiling). Interest income of $1.3 million is 0.05% of net sales.
Gate 1 — Business activity: PASS
Gate 1 — business activity: PASS. Conagra Brands, Inc., per its filings, is a North American consumer packaged foods company operating four segments - Grocery & Snacks, Refrigerated & Frozen, International and Foodservice - with brands including Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-wip, Slim Jim, Angie's BOOMCHICKAPOP and Hunt's.
No haram product lines were identified: no alcohol, tobacco, gambling, weapons or adult-entertainment lines are disclosed. The business passes gate 1; the FAIL comes from the debt ratio.
Gate 2 — Debt and cash: FAIL
Gate 2 — interest-bearing debt: FAIL (116.0%, ceiling 33%). Per Conagra's Q1 FY2027 Form 10-Q consolidated balance sheet (quarter ended August 30, 2026, filed September 30, 2026), current installments of long-term debt were $787.5 million, notes payable $32.5 million, and senior long-term debt $6,940.1 million - total debt of about $7,760.1 million.
$7,760.1 million against a market capitalization of about $6.69 billion (Finnhub, October 2, 2026; NYSE: CAG) is about 116.0%, far over the 33% ceiling. The debt gate fails and is decisive.
Gate 3 — Non-compliant income: PASS
Gate 3 — non-compliant income: PASS (0.05%, ceiling 5%). Conagra's Q1 FY2027 Form 10-Q reports interest income of $1.3 million (Note 4, disclosed as a credit within net interest expense) against net sales of $2,595.9 million - about 0.05%, well under the 5% ceiling.
The income gate passes, but the result is moot given the debt-gate failure.
Key figures used
- Business: North American consumer packaged foods — Grocery & Snacks, Refrigerated & Frozen, International, Foodservice (Birds Eye, Duncan Hines, Healthy Choice, Slim Jim, Hunt's)
- Haram assessment: no haram product lines identified (no alcohol/tobacco/gambling/weapons/adult lines) — business-activity gate passes
- Debt: $787.5M current installments + $32.5M notes payable + $6,940.1M senior long-term = $7,760.1M (Q1 FY27 10-Q, quarter ended Aug 30, 2026) ÷ ~$6.69B market cap (Finnhub, Oct 2, 2026) = 116.0% — over the 33% ceiling (decisive)
- Interest income: $1.3M (Note 4, credit within net interest expense) ÷ $2,595.9M net sales = 0.05% — under the 5% ceiling (moot)
- Market data: NYSE-listed (CAG); actively listed, confirmed October 2, 2026; reported Q1 FY27 earnings Sept 30, 2026
- Third-party: Zoya not Shariah-compliant (AAOIFI) — consistent with this FAIL; ShariaPortfolio not Shariah-compliant (older page); no verifiable Musaffa rating
Frequently asked questions
What does Conagra Brands do?
Conagra Brands, Inc. (NYSE: CAG) is a North American consumer packaged foods company. Per its filings, it operates four segments - Grocery & Snacks, Refrigerated & Frozen, International and Foodservice - with brands including Birds Eye, Duncan Hines, Healthy Choice, Marie Callender's, Reddi-wip, Slim Jim, Angie's BOOMCHICKAPOP and Hunt's. It reported fiscal Q1 2027 earnings on September 30, 2026.
Is Conagra Brands' business Shariah compliant?
Conagra's business shows no haram product lines: it makes packaged foods (grocery, frozen, snacks, foodservice) with no alcohol, tobacco, gambling, weapons or adult-entertainment lines disclosed. The business-activity gate passes; the FAIL comes from the debt ratio.
How much interest-bearing debt does Conagra Brands have?
Conagra's Q1 FY2027 Form 10-Q (quarter ended August 30, 2026) reports current installments of long-term debt of $787.5 million, notes payable of $32.5 million, and senior long-term debt of $6,940.1 million - total debt of about $7,760.1 million. Against a market capitalization of about $6.69 billion (Finnhub, October 2, 2026), that is about 116.0% - far over the 33% ceiling. The debt gate fails and is decisive.
How much interest income does Conagra Brands earn?
Conagra's Q1 FY2027 Form 10-Q reports interest income of $1.3 million (Note 4, disclosed as a credit within net interest expense) against net sales of $2,595.9 million - about 0.05%, well under the 5% non-compliant income ceiling. The income gate passes, but the result is moot given the debt-gate failure.
What do third-party Shariah screeners say about Conagra Brands?
Zoya flags CAG as not Shariah-compliant (AAOIFI) - consistent with this page's FAIL. ShariaPortfolio's older page (about 163 days old) also rates it not Shariah-compliant. I could not verify a Musaffa rating page for CAG from public sources. Third-party screeners apply different assumptions and update on different schedules - always check the latest screening before investing.
Sources
- Conagra Brands Q1 FY2027 Form 10-Q — SEC EDGAR (quarter ended Aug 30, 2026; filed Sept 30, 2026; CIK 0000023217)
- Finnhub — Conagra Brands financial market data (XNYS, market cap $6.69B, live quote Oct 2, 2026)
- Zoya — Conagra Brands (CAG) Shariah compliance page (not Shariah-compliant, AAOIFI)
- ShariaPortfolio — Conagra Brands (CAG) stock page (not Shariah-compliant)
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).