Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is CSX Corporation (CSX) Halal?

PASS

CSX Corporation · NASDAQ: CSX · Industrials

The short answer

Yes — CSX Corporation (NASDAQ: CSX) passes this Shariah stock screen. The freight railroad (~20,000 route-mile network, FY2025 revenue $14.1B across merchandise, intermodal, coal and trucking) has no prohibited business lines — hauling chemicals, petroleum products or coal as freight is transport, not production. Interest-bearing debt of $18.9B ($18,165M long-term debt + $708M current maturities at Dec 31, 2025) is about 21.75% of its ~$86.76B market cap (~$46.54/share, Oct 2, 2026), under the ~33% ceiling. Disclosed interest income of $45M (FY2025 10-K notes) is about 0.32% of $14,092M revenue, far under the 5% non-compliant income ceiling. Zoya covers CSX and rates it Shariah-compliant (halal) as of August 2026; Musaffa's Nasdaq-100 halal list classifies it Halal; no ShariaPortfolio rating was found — honestly reported as absent, not invented. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

Gate 1 — Business activity: PASS

CSX Corporation (NASDAQ: CSX), based in Jacksonville, Florida, is one of North America's leading freight railroad companies. Its principal operating subsidiary, CSX Transportation, runs an approximately 20,000 route-mile rail network serving major population centers in 26 states east of the Mississippi River plus Ontario and Quebec, with access to over 70 ocean, river and lake port terminals. In 2025 its services generated $14.1B of revenue across four lines: merchandise (62% — chemicals, agricultural and food products, automotive, minerals, forest products, metals and equipment, fertilizers), intermodal (15%), coal (13%) and trucking (6%, via Quality Carriers). CSX hauls chemicals, petroleum products and coal as freight — that is transport, not production: the company does not produce, refine or sell alcohol, tobacco, pork, gambling, adult entertainment, or conventional banking/insurance products. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

At December 31, 2025 CSX reported long-term debt of $18,165M plus current maturities of long-term debt of $708M, for total interest-bearing debt of $18,873M (FY2025 Form 10-K, consolidated balance sheets). Against a market capitalization of about $86.76B (Finnhub, ~$46.54 per share, October 2, 2026), debt ÷ market cap is about 21.75% — under the ~33% ceiling. (Including the $479M long-term lease liability would take it to about 22.3%, still under the ceiling.) Cash and cash equivalents ($670M) plus short-term investments ($5M) total $675M, about 0.78% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

The FY2025 10-K notes break out Other income – net as net periodic pension and postretirement benefit credits ($33M), interest income ($45M) and miscellaneous income ($14M), for total Other income – net of $92M. Against FY2025 revenue of $14,092M, the disclosed interest income is about 0.32% of revenue ($45M ÷ $14,092M) — far below the 5% non-compliant income ceiling. The MD&A attributes the decline from $85M in 2024 to lower average investment balances; the interest is earned on cash and investment balances, not from lending. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does CSX do?

CSX Corporation (NASDAQ: CSX), based in Jacksonville, Florida, is one of North America's leading freight railroad companies. Its principal operating subsidiary, CSX Transportation, runs an approximately 20,000 route-mile rail network serving major population centers in 26 states east of the Mississippi River plus Ontario and Quebec, with access to over 70 ocean, river and lake port terminals. In 2025 its services generated $14.1B of revenue across four lines of business: merchandise (62% — chemicals, agricultural and food products, automotive, minerals, forest products, metals and equipment, fertilizers), intermodal (15%), coal (13%) and trucking (6%, via Quality Carriers, the largest bulk liquid chemicals truck transporter in North America).

Why does CSX pass this Shariah stock screen?

CSX passes all three gates of this AAOIFI-style screen. Its freight-rail business has no prohibited lines — hauling chemicals, petroleum products or coal as freight is transport, not production (CSX does not produce or sell alcohol, tobacco, pork, gambling, adult entertainment, or conventional banking/insurance products). Its interest-bearing debt of $18.9B is about 21.75% of its ~$86.76B market cap, under the ~33% ceiling. And its disclosed interest income of $45M is about 0.32% of $14,092M revenue, far under the 5% non-compliant income ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.

What is CSX's interest-bearing debt ratio?

At December 31, 2025 CSX reported long-term debt of $18,165M plus current maturities of long-term debt of $708M, for total interest-bearing debt of $18,873M (FY2025 Form 10-K, consolidated balance sheets). Against a market capitalization of about $86.76B (Finnhub, ~$46.54 per share, October 2, 2026), debt ÷ market cap is about 21.75% — under the ~33% ceiling. (Including the $479M long-term lease liability would take it to about 22.3%, still under the ceiling.) Cash and cash equivalents of $670M plus short-term investments of $5M total $675M, about 0.78% of market cap. The financial-structure gate passes.

What is CSX's non-compliant income ratio?

The FY2025 10-K notes break out Other income – net as net periodic pension and postretirement benefit credits ($33M), interest income ($45M) and miscellaneous income ($14M), for total Other income – net of $92M. Against FY2025 revenue of $14,092M, the disclosed interest income is about 0.32% of revenue ($45M ÷ $14,092M) — far below the 5% non-compliant income ceiling. The MD&A attributes the decline from $85M in 2024 to lower average investment balances; the interest is earned on cash and investment balances, not from lending. The income gate passes.

Do Zoya, Musaffa, or ShariaPortfolio cover CSX?

Zoya covers CSX and rates it Shariah-compliant (halal) as of August 2026, using AAOIFI guidelines (zoya.finance/stocks/csx). Musaffa's Nasdaq-100 halal-stocks list (academy.musaffa.com) classifies CSX Corporation as Halal with rating 1; a dedicated per-stock page was not surfaced in search results. No ShariaPortfolio rating for CSX was found — honestly reported as absent, not invented. This page applies the screen directly from the company's SEC filings: the FY2025 Form 10-K (filed February 2026) and Q2 2026 10-Q.

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).