Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Duke Energy Corporation (DUK) Halal?

FAIL

Duke Energy Corporation · NYSE: DUK · Utilities

The short answer

No - Duke Energy Corporation (DUK) fails this Shariah stock screen on the debt gate alone. Duke Energy, the Charlotte-based regulated utility, earns its revenue from electric and natural gas utility operations (~8.7 million electric customers; FY2025 total operating revenues $32,237M) - none of which involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance as a core activity. The financial ratios are decisive: total interest-bearing debt of $89,836M is about 101.46% of its ~$88.54B market cap ($113.74/share, October 2026), far above the ~33% ceiling. Interest income is effectively ~0% (not separately disclosed in the filings; Zoya independently records $0), below the 5% ceiling. Musaffa and ShariaPortfolio independently rate Duke Energy not halal / not Shariah Compliant. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Duke Energy Corporation (NYSE: DUK), headquartered in Charlotte, North Carolina (founded 1904; CEO Harry Sideris since April 1, 2025, succeeding Lynn Good), is a Fortune 150 energy holding company. Per its filings (FY2025 Consolidated Statements of Operations from the Q4 2025 earnings release Ex 99.1; December 31, 2025 balance sheet from the Q1 2026 Form 10-Q filed May 5, 2026; figures cross-verified across twelvedata, alphaquery, stockanalysis.com, and Barchart), it operates through two segments: Electric Utilities and Infrastructure (EU&I) - generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest (generation sources: nuclear, coal, hydroelectric, natural gas, oil, solar, wind; ~8.7 million electric customers; 55,700 MW of energy capacity); and Gas Utilities and Infrastructure (GU&I) - distributes natural gas to residential, commercial, industrial, and power-generation customers (~1.6-1.8 million gas customers in the Carolinas, Tennessee, Ohio, and Kentucky). Business-screen implication (factual): regulated electric and gas utility - nuclear/coal/gas/hydro/solar generation and regulated utility distribution are not haram activities under standard Shariah screens; no alcohol, tobacco, gambling, weapons/defense, pork, adult entertainment, or conventional finance as a core activity. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: FAIL

Per Duke Energy's Q1 2026 Form 10-Q (filed May 5, 2026; December 31, 2025 balance sheet; $ millions; figures cross-verified across twelvedata, alphaquery, stockanalysis.com, and Barchart), total interest-bearing debt at December 31, 2025 was: notes payable and commercial paper $2,624M + current maturities of long-term debt $7,104M + long-term debt $80,108M = $89,836M (stocktitan's AI analysis cites 'consolidated indebtedness of $86.4 billion' - a slightly different definition; either figure is ~100% of market cap). Against a market cap of about $88.54B ($113.74 per share, Finnhub, October 2026; sanity check: 778M shares x $113.74 = about $88.49B - exact), debt / market cap is about 101.46% - far above the ~33% ceiling. Even excluding commercial paper ($87,212M), the ratio is ~98.5% - still fails. Cash and cash equivalents of $245M is about 0.28% of market cap (nuclear decommissioning trust funds $12,889M are restricted purpose-specific funds, not general cash). Total equity was $53,019M (debt-to-equity ~1.47-1.69). Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: PASS

Per Duke Energy's Q4 2025 earnings release Ex 99.1 (Consolidated Statements of Operations; $ millions), NO separate interest-income line is disclosed - interest appears only as an expense ('Interest Expense' $3,634M FY2025). Zoya independently records Duke Energy's FY2025 interest income as $0 on revenue of $32,237,000,000 (from its company data) - about 0% of revenue, below the 5% non-compliant income ceiling. One aggregator (twelvedata) reports 'non-operating interest income' of $51M for FY2025 (not a filed line item) - even that is 0.158% of revenue. So interest income is effectively ~0% on the evidence available. Gate 3 passes. Facts only - no interest-income figure is asserted beyond what the filings disclose.

Key figures used

Frequently asked questions

What does Duke Energy do?

Duke Energy Corporation (NYSE: DUK), headquartered in Charlotte, North Carolina (founded 1904; CEO Harry Sideris since April 1, 2025, succeeding Lynn Good), is a Fortune 150 energy holding company. Per its filings (FY2025 Consolidated Statements of Operations from the Q4 2025 earnings release Ex 99.1; December 31, 2025 balance sheet from the Q1 2026 Form 10-Q filed May 5, 2026; figures cross-verified across twelvedata, alphaquery, stockanalysis.com, and Barchart): two segments - Electric Utilities and Infrastructure (EU&I), which generates, transmits, distributes, and sells electricity in the Carolinas, Florida, and the Midwest (generation sources: nuclear, coal, hydroelectric, natural gas, oil, solar, wind; ~8.7 million electric customers; 55,700 MW of energy capacity); and Gas Utilities and Infrastructure (GU&I), which distributes natural gas to residential, commercial, industrial, and power-generation customers (~1.6-1.8 million gas customers in the Carolinas, Tennessee, Ohio, and Kentucky). Its common stock trades on the New York Stock Exchange (ticker DUK). FY2025 total operating revenues were $32,237M.

Why does Duke Energy fail this Shariah stock screen?

Duke Energy fails this Shariah stock screen on the debt gate alone. Gate 1 (business activity): regulated electric and gas utility (generation, transmission, distribution) - nuclear, coal, hydroelectric, natural gas, oil, solar, and wind generation and regulated utility distribution are not haram activities under standard Shariah screens; no alcohol, tobacco, gambling, weapons/defense, pork, adult entertainment, or conventional finance as a core activity - a clean business. Gate 2 (debt): total interest-bearing debt of $89,836M is about 101.46% of its ~$88.54B market cap (October 2026), far above the ~33% ceiling - fails. Gate 3 (non-compliant income): no separate interest-income line is filed (interest appears only as an expense of $3,634M); Zoya independently records FY2025 interest income as $0 on revenue of $32,237M - about 0%, below the 5% ceiling - passes. Result: FAIL on the debt gate alone. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is Duke Energy's interest-bearing debt ratio?

Per Duke Energy's Q1 2026 Form 10-Q (filed May 5, 2026; December 31, 2025 balance sheet; $ millions; figures cross-verified across twelvedata, alphaquery, stockanalysis.com, and Barchart), total interest-bearing debt at December 31, 2025 was: notes payable and commercial paper $2,624M + current maturities of long-term debt $7,104M + long-term debt $80,108M = $89,836M (stocktitan's AI analysis cites 'consolidated indebtedness of $86.4 billion' - a slightly different definition; either figure is ~100% of market cap). Against a market cap of about $88.54B ($113.74 per share, Finnhub, October 2026; sanity check: 778M shares x $113.74 = about $88.49B - exact), debt / market cap is about 101.46% - far above the ~33% ceiling. Even excluding commercial paper ($87,212M), the ratio is ~98.5% - still fails. Cash and cash equivalents of $245M is about 0.28% of market cap (nuclear decommissioning trust funds $12,889M are restricted purpose-specific funds, not general cash). Gate 2 fails. Facts only.

How much interest income does Duke Energy earn?

Per Duke Energy's Q4 2025 earnings release Ex 99.1 (Consolidated Statements of Operations; $ millions), NO separate interest-income line is disclosed - interest appears only as an expense ('Interest Expense' $3,634M FY2025). Zoya independently records Duke Energy's FY2025 interest income as $0 on revenue of $32,237,000,000 (from its company data) - about 0% of revenue, below the 5% non-compliant income ceiling. One aggregator (twelvedata) reports 'non-operating interest income' of $51M for FY2025 (not a filed line item) - even that is 0.158% of revenue. So interest income is effectively ~0% on the evidence available. Gate 3 passes. Facts only - no interest-income figure is asserted beyond what the filings disclose.

Do Zoya, Musaffa, or ShariaPortfolio cover Duke Energy?

Zoya covers Duke Energy at zoya.finance/stocks/duk, but its auto-generated FAQ text is garbled/contradictory (renders 'not Shariah-compliant and therefore considered halal to invest in' AND 'not Shariah-compliant and therefore not considered halal to invest in' fragments simultaneously) - no clean Zoya rating can be quoted, and none is quoted here. The consistent headline wording across fragments is 'not Shariah-compliant' / 'flagged as not Shariah-compliant' (likely driven by the debt ratio, since Zoya's own data fields report interest income $0). Musaffa covers DUK at musaffa.com/stock/DUK/: 'As of October 2026, Duke Energy Corp is classified as not halal. NOT HALAL' (AAOIFI methodology). ShariaPortfolio covers DUK at spscreener.mxcorporate.com/ticker/duk-duke-energy-corp/: 'Duke Energy Corp is not Shariah Compliant because it fails the financial ratios.'

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).