NYSE Shariah screener · October 2026

Is Ecolab Inc. (ECL) Halal?

PASS

Ecolab Inc. · NYSE: ECL · Materials

The short answer

Yes - Ecolab Inc. (ECL) passes this Shariah stock screen on all three gates. Its FY2025 10-K discloses four reportable segments (Global Water, Global Institutional & Specialty, Global Pest Elimination, Global Life Sciences) selling water treatment, cleaning, sanitizing, pest elimination and life-sciences solutions, with no alcohol, gambling, tobacco, conventional banking or insurance, pork or weapons activity disclosed. Financially, interest-bearing debt of $13,176.2M (June 30, 2026) is about 17.23% of its ~$76.5B market cap ($271.26, October 2, 2026), below the ~33% ceiling, and separately disclosed interest income of $65.1M is about 0.40% of FY2025 net sales ($16,081.2M), below the 5% ceiling. Musaffa classifies ECL halal (October 2026); no ShariaPortfolio rating was found.

Gate 1 — Business activity: PASS

Ecolab Inc. (NYSE: ECL), based in Saint Paul, Minnesota, is a global leader in water, hygiene and infection prevention solutions and services, with about $16 billion in annual sales, 48,000 associates and customers in more than 170 countries and 40 industries, per its FY2025 10-K (filed February 23, 2026). It reports four reportable segments (FY2025 fixed-currency sales): Global Water ($7,679.9M - water treatment and process applications, cleaning and sanitizing for food & beverage, paper, manufacturing, power and refining), Global Institutional & Specialty ($5,962.0M - institutional cleaning and sanitizing), Global Pest Elimination ($1,219.2M - pest detection, elimination and prevention services) and Global Life Sciences ($706.1M - pharmaceutical and personal care solutions, including Purolite resins). Haram check (factual, from the filing): the 10-K's Item 1 business description discloses no alcohol, gambling, tobacco, conventional banking or insurance, pork, weapons or adult-entertainment activity in any segment. No haram segment flag arises. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per the Q2 2026 earnings 8-K (consolidated balance sheet as of June 30, 2026 - the same balance sheet filed in the Q2 2026 10-Q), interest-bearing debt was $13,176.2M - short-term debt $1,271.1M plus long-term debt $11,905.1M (the balance-sheet long-term debt line includes current maturities and finance lease obligations, per the debt note). Against a market cap of about $76.5B ($271.26 close on October 2, 2026; 281,969,448 shares outstanding per the FY2025 10-K cover), debt divided by market cap is about 17.23%, comfortably below the ~33% ceiling. Cash and cash equivalents of $5,135.3M are about 6.71% of market cap. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

Ecolab's FY2025 10-K separately discloses interest income of $65.1M for 2025 (net interest expense note: interest expense $306.2M, interest income $65.1M, interest expense net $241.1M) against net sales of $16,081.2M - about 0.40% of revenue, far below the 5% non-compliant income ceiling. All three gates pass, so this screen's result is PASS. Gate 3 passes. Facts only.

Key figures used

Business: water, hygiene and infection prevention solutions; Global Water ($7,679.9M FY2025), Global Institutional & Specialty ($5,962.0M), Global Pest Elimination ($1,219.2M), Global Life Sciences ($706.1M); ~$16B annual sales, 48,000 associates, 170+ countries; no alcohol, gambling, tobacco, conventional finance, pork or weapons activity disclosed
Debt: $13,176.2M (short-term debt $1,271.1M + long-term debt $11,905.1M, incl. current maturities and finance leases, June 30, 2026) - debt divided by market cap about 17.23% of ~$76.5B ($271.26, Oct 2, 2026; 281,969,448 shares), under the ~33% ceiling
Cash: $5,135.3M cash and equivalents about 6.71% of market cap
Interest income: $65.1M (2025, separately disclosed in 10-K note) vs net sales $16,081.2M - about 0.40% of revenue, under the 5% non-compliant income ceiling
Musaffa: HALAL (Oct 2026); Zoya: covers ECL but page status badge not readable in fetched text - reported unclear, not invented; ShariaPortfolio: no rating found
Result: PASS - all three gates pass

Frequently asked questions

What does Ecolab do?

Ecolab Inc. (NYSE: ECL), based in Saint Paul, Minnesota, is a global leader in water, hygiene and infection prevention solutions and services, with about $16 billion in annual sales, 48,000 associates and customers in more than 170 countries and 40 industries, per its FY2025 10-K. It reports four reportable segments: Global Water ($7,679.9M FY2025 fixed-currency sales - water treatment and process applications, food & beverage and paper cleaning/sanitizing), Global Institutional & Specialty ($5,962.0M - institutional cleaning and sanitizing), Global Pest Elimination ($1,219.2M - pest detection and elimination services) and Global Life Sciences ($706.1M - pharmaceutical and personal care solutions, including Purolite resins). Its common stock trades on the New York Stock Exchange under ECL.

Why does Ecolab pass this Shariah stock screen?

Ecolab passes all three gates of this screen. Gate 1 (business activity): the FY2025 10-K discloses four reportable segments - Global Water, Global Institutional & Specialty, Global Pest Elimination and Global Life Sciences - all selling water treatment, cleaning, sanitizing, pest elimination and life-sciences solutions; the filing discloses no alcohol, gambling, tobacco, conventional banking or insurance, pork, weapons or adult-entertainment activity, so no haram segment flag arises. Gate 2 (debt): interest-bearing debt of $13,176.2M (short-term debt $1,271.1M plus long-term debt $11,905.1M, June 30, 2026) is about 17.23% of its ~$76.5B market cap ($271.26, October 2, 2026; 281,969,448 shares), below the ~33% ceiling. Gate 3 (non-compliant income): separately disclosed interest income of $65.1M is about 0.40% of FY2025 net sales ($16,081.2M), below the 5% ceiling. Musaffa classifies ECL halal (October 2026). This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is Ecolab's interest-bearing debt ratio?

Per the Q2 2026 earnings 8-K (consolidated balance sheet, June 30, 2026 - the same balance sheet filed in the Q2 2026 10-Q), interest-bearing debt was $13,176.2M - short-term debt $1,271.1M plus long-term debt $11,905.1M (the long-term debt line includes current maturities and finance lease obligations per the debt note). Against a market cap of about $76.5B ($271.26 close on October 2, 2026; 281,969,448 shares outstanding per the FY2025 10-K cover), debt divided by market cap is about 17.23% - comfortably below the ~33% ceiling. Cash and cash equivalents of $5,135.3M are about 6.71% of market cap.

What is Ecolab's non-compliant income ratio?

Ecolab's FY2025 10-K discloses interest income of $65.1M for 2025 (separately disclosed in the net interest expense note: interest expense $306.2M, interest income $65.1M, interest expense net $241.1M) against net sales of $16,081.2M - about 0.40% of revenue, far below the 5% non-compliant income ceiling. All three gates pass, so the screen result is PASS.

Do Zoya, Musaffa, or ShariaPortfolio cover Ecolab?

Musaffa covers ECL and classifies it HALAL as of October 2026 (musaffa.com/stock/ECL/). Zoya covers ECL with a dedicated stock page (zoya.finance/stocks/ecl), but the page's compliance-status badge did not render unambiguously in the fetched text (contradictory template variants with blank dates) - reported as unclear, not invented. No ShariaPortfolio screening page or rating for ECL was found - reported as absent, not invented. Separately, ECL is held by the Wahed FTSE USA Shariah ETF (HLAL), per fund holding disclosures. This page applies the screen directly from Ecolab's own 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).