NYSE Shariah screener · October 2026
Is Dow Inc. (DOW) Halal?
Dow Inc. · NYSE: DOW · Materials
The short answer
Dow's materials-science business shows no haram segments, but it fails on leverage: total debt of about $19.26 billion is 97.2% of its ~$19.82 billion market cap (over the 33% ceiling). Interest income of $156 million is 0.39% of net sales.
Gate 1 — Business activity: PASS
Gate 1 — business activity: PASS. Dow Inc., per its FY2025 Form 10-K, is a global materials science company (the 2019 spin-off of DowDuPont) operating Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings segments.
No haram segments 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 (97.2%, ceiling 33%). Per Dow's FY2025 Form 10-K, total debt was about $19.26 billion (end of 2025).
$19.26 billion against a market capitalization of about $19.82 billion (Finnhub, October 2, 2026; NYSE: DOW) is about 97.2%, far over the 33% ceiling. The debt gate fails and is decisive.
Gate 3 — Non-compliant income: PASS
Gate 3 — non-compliant income: PASS (0.39%, ceiling 5%). Dow's FY2025 Form 10-K reports interest income of $156 million against net sales of $39,968 million - about 0.39%, well under the 5% ceiling (Zoya reports $152 million / 0.38% from the same filing - same conclusion).
The income gate passes, but the result is moot given the debt-gate failure.
Key figures used
- Business: global materials science company (2019 DowDuPont spin-off) — Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, Performance Materials & Coatings (FY2025 10-K)
- Haram assessment: no haram segments identified (no alcohol/tobacco/gambling/weapons/adult lines) — business-activity gate passes
- Debt: ~$19.26B total debt, end of 2025 (FY2025 10-K) ÷ ~$19.82B market cap (Finnhub, Oct 2, 2026) = 97.2% — over the 33% ceiling (decisive)
- Interest income: $156M ÷ $39,968M net sales = 0.39% — under the 5% ceiling (moot); Zoya: $152M / 0.38%
- Market data: NYSE-listed (DOW); actively listed, confirmed October 2, 2026; Finnhub XNYS live quote; no delisting
- Third-party: Zoya flags DOW not Shariah-compliant (AAOIFI) — consistent with this FAIL; no verifiable Musaffa or ShariaPortfolio rating
Frequently asked questions
What does Dow do?
Dow Inc. (NYSE: DOW) is a global materials science company (the 2019 spin-off of DowDuPont). Per its FY2025 Form 10-K, it operates Packaging & Specialty Plastics, Industrial Intermediates & Infrastructure, and Performance Materials & Coatings segments.
Is Dow's business Shariah compliant?
Dow's business shows no haram segments: it makes packaging plastics, industrial intermediates and performance coatings, 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 Dow have?
Dow's FY2025 Form 10-K reports total debt of about $19.26 billion (end of 2025). Against a market capitalization of about $19.82 billion (Finnhub, October 2, 2026), that is about 97.2% - far over the 33% ceiling. The debt gate fails and is decisive.
How much interest income does Dow earn?
Dow's FY2025 Form 10-K reports interest income of $156 million against net sales of $39,968 million - about 0.39%, well under the 5% non-compliant income ceiling (Zoya reports $152 million / 0.38% from the same filing - same conclusion). The income gate passes, but the result is moot given the debt-gate failure.
What do third-party Shariah screeners say about Dow?
Zoya flags DOW as not Shariah-compliant (AAOIFI) - consistent with this page's FAIL. I could not verify a Musaffa rating page for DOW or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules - always check the latest screening before investing.
Sources
- Dow FY2025 Form 10-K — full filing text
- Finnhub — Dow financial market data (XNYS, market cap $19.82B, live quote Oct 2, 2026)
- Zoya — Dow (DOW) Shariah compliance page (not Shariah-compliant, AAOIFI)
- MarketBeat — Dow (DOW) financials (total debt end of 2025)
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).