Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Crown Castle Inc. (CCI) Halal?

FAIL

Crown Castle Inc. · NYSE: CCI · Real Estate

The short answer

No - Crown Castle Inc. (CCI) fails this Shariah stock screen at the debt gate. The business is a pure-play US cell-tower operator owning, operating, and leasing ~40,000 towers to wireless carriers (the $8.5B fiber/small-cell sale to Zayo/EQT closed May 1, 2026, reported as discontinued operations), with no haram segments disclosed in its Q2 2026 10-Q. Interest-bearing debt of $18,239M is about 64.4% of its ~$28.3B market cap ($66.12 latest quote, October 2, 2026) - far above the ~33% ceiling. Interest income of $22M - separately disclosed - is about 1.1% of net revenues ($2,018M, six months ended June 30, 2026), below the 5% ceiling. Note: Zoya flags CCI as not Shariah-compliant and ShariaPortfolio states it is 'not Shariah Compliant because it fails the financial ratios'; no Musaffa rating was found.

Gate 1 — Business activity: PASS

Crown Castle Inc. (NYSE: CCI) owns, operates, and leases approximately 40,000 cell towers across the United States, leasing space to wireless carriers under long-term site-rental contracts - its stated strategy is now a 'pure-play US tower operator.' Its $8.5B sale of the Fiber Solutions business to Zayo Group and the Small Cells business to EQT's Arium Networks closed May 1, 2026; those businesses are reported as discontinued operations with zero assets or liabilities remaining on the June 30, 2026 balance sheet. Haram flags checked (factual, from the filings): the 10-Q discloses no alcohol, tobacco, gambling, weapons, pork, or interest-based lending businesses. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: FAIL

Per Crown Castle's 10-Q for the quarter ended June 30, 2026, interest-bearing debt was $18,239M - current maturities of debt and other obligations $2,260M plus debt and other long-term obligations $15,979M. Against a market cap of about $28.3B ($66.12 latest quote, October 2, 2026), debt / market cap is about 64.4% - nearly double the ~33% ceiling. Cash and cash equivalents of $1,042M are about 3.7% of market cap. Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: PASS

Crown Castle's Q2 2026 10-Q discloses interest income of $22M as a separate line in the statement of operations for the six months ended June 30, 2026, against net revenues of $2,018M ($1,928M site rental + $90M services and other) - about 1.1% of revenue, well below the 5% ceiling (Q2 alone: $18M vs $1,008M, about 1.8%). Gate 3 passes on a directly disclosed figure. Facts only.

Key figures used

Frequently asked questions

What does Crown Castle do?

Crown Castle Inc. (NYSE: CCI) owns, operates, and leases approximately 40,000 cell towers across the United States, leasing space to wireless carriers under long-term site-rental contracts - its stated strategy is now a 'pure-play US tower operator.' Its $8.5B sale of the Fiber Solutions business to Zayo Group and the Small Cells business to EQT's Arium Networks closed May 1, 2026; those businesses are reported as discontinued operations with zero assets or liabilities remaining on the June 30, 2026 balance sheet. The filings disclose no alcohol, tobacco, gambling, weapons, pork, or interest-based lending businesses.

Why does Crown Castle fail this Shariah stock screen?

Crown Castle fails this Shariah stock screen at the debt gate. Gate 1: the business is cell-tower leasing to wireless carriers (a pure-play tower operator since the May 2026 fiber/small-cell sale) - no haram segments are disclosed in the filings. Gate 2: interest-bearing debt of $18,239M (Q2 2026) is about 64.4% of its ~$28.3B market cap ($66.12 latest quote, October 2, 2026), far above the ~33% ceiling - FAIL. Gate 3: separately disclosed interest income of $22M is about 1.1% of net revenues ($2,018M, six months ended June 30, 2026), below the 5% ceiling. Result: FAIL. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is Crown Castle's interest-bearing debt ratio?

Per Crown Castle's 10-Q for the quarter ended June 30, 2026, interest-bearing debt was $18,239M - current maturities of debt and other obligations $2,260M plus debt and other long-term obligations $15,979M. Against a market cap of about $28.3B ($66.12 latest quote on October 2, 2026), debt / market cap is about 64.4% - nearly double the ~33% ceiling. Cash and cash equivalents of $1,042M are about 3.7% of market cap. Gate 2 fails decisively.

What is Crown Castle's non-compliant income ratio?

Crown Castle's Q2 2026 10-Q discloses interest income of $22M as a separate line in the statement of operations for the six months ended June 30, 2026, against net revenues of $2,018M ($1,928M site rental + $90M services and other) - about 1.1% of revenue, well below the 5% non-compliant income ceiling (Q2 alone: $18M vs $1,008M, about 1.8%). Gate 3 passes on a directly disclosed figure.

Do Zoya, Musaffa, or ShariaPortfolio cover Crown Castle?

Zoya covers CCI and flags it as not Shariah-compliant (AAOIFI methodology; zoya.finance/stocks/cci). ShariaPortfolio covers CCI and states 'Crown Castle Inc is not Shariah Compliant because it fails the financial ratios.' No Musaffa stock page or rating for CCI was found - reported as absent, not invented. This page applies the screen directly from Crown Castle's own SEC filings and reports these positions honestly.

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).