Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Generac Holdings Inc. (GNRC) Halal?

PASS

Generac Holdings Inc. · NYSE: GNRC · Industrials

The short answer

Generac passes all three Shariah gates: it designs and manufactures power generation equipment and energy storage systems (no interest-based business), carries about $1,329.3M of interest-bearing debt (10.80% of its ~$12.31 billion market cap), and investment income of about 0.18% of revenue is under the 5% ceiling.

Gate 1 — Business activity: PASS

Gate 1 — business activity: PASS. Generac Holdings Inc., per its FY2025 Form 10-K (fiscal year ended December 31, 2025, filed February 18, 2026), is an energy technology company that 'designs and manufactures power generation equipment, energy storage systems and other power products.' Its portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines and related transfer switches and controls, plus solar-plus-storage systems, battery energy storage, electric vehicle charging equipment, energy management devices and software-enabled monitoring and services.

It serves residential, commercial, industrial, data center and telecom customers, selling through independent dealers, distributors, retailers and direct channels; no single customer exceeded 4% of 2025 net sales. It is not an interest-based lender and is not involved in conventional banking or insurance, alcohol, tobacco, gambling, pork, weapons, or adult entertainment — a clean industrial business. The business passes gate 1.

Gate 2 — Debt and cash: PASS

Gate 2 — interest-bearing debt: PASS (10.80%, ceiling 33%). Per Generac's Q2 2026 condensed consolidated balance sheet (June 30, 2026): short-term borrowings of $48,318 thousand, current portion of long-term borrowings and finance lease obligations of $32,052 thousand, and long-term borrowings and finance lease obligations of $1,248,958 thousand — total interest-bearing debt of about $1,329.3 million. Debt has trended lower since 2023 (about $1.33 billion at June 30, 2026 vs roughly $1.45 billion at year-end 2024).

$1,329.3 million of interest-bearing debt against a market capitalization of about $12.31 billion (Finnhub, October 2, 2026; $207.91 per share) is about 10.80% — far under the 33% ceiling. Cash and cash equivalents of $264,921 thousand at June 30, 2026 represent about 2.2% of market cap.

Gate 3 — Non-compliant income: PASS

Gate 3 — non-compliant income: PASS (0.18%, ceiling 5%). Generac's FY2025 Form 10-K reports investment income of $7,673 thousand under 'Other (expense) income' against net sales of $4,209,147 thousand — about 0.18%, far under the 5% ceiling (interest expense was $70,697 thousand).

Zoya's GNRC page cites the same FY2025 figures ($7,673,000 investment income against $4,209,147,000 revenue, about 0.18%) under its AAOIFI methodology. The most recent annual figure (0.18%) is used for this gate.

Key figures used

Frequently asked questions

What does Generac do?

Generac Holdings Inc. (NYSE: GNRC), founded in 1959 and headquartered in Waukesha, Wisconsin, is an energy technology company that designs and manufactures power generation equipment, energy storage systems and other power products. Per its FY2025 Form 10-K (fiscal year ended December 31, 2025, filed February 18, 2026), its portfolio includes home standby generators, portable generators, commercial and industrial generators, mobile power equipment, engines, solar-plus-storage systems, battery energy storage, electric vehicle charging equipment, energy management devices and software-enabled monitoring. It sells through independent dealers, distributors, retailers and direct channels, serving residential, commercial, industrial, data center and telecom markets.

Is Generac's business Shariah compliant?

Generac is not an interest-based lender and is not involved in conventional banking or insurance, alcohol, tobacco, gambling, pork, weapons, or adult entertainment. It designs and manufactures power generation equipment and energy storage systems for residential, commercial, industrial, data center and telecom customers - a clean industrial business. Assessed on the filed business description, the business passes this screener's first gate.

How much interest-bearing debt does Generac have?

Generac's Q2 2026 condensed consolidated balance sheet (June 30, 2026) shows short-term borrowings of $48,318 thousand, current portion of long-term borrowings and finance lease obligations of $32,052 thousand, and long-term borrowings and finance lease obligations of $1,248,958 thousand - total interest-bearing debt of about $1,329.3 million. Against a market capitalization of about $12.31 billion (Finnhub, October 2, 2026), that is about 10.80% - far under the 33% ceiling.

How much interest income does Generac earn?

Generac's FY2025 Form 10-K reports investment income of $7,673 thousand against net sales of $4,209,147 thousand - about 0.18%, under the 5% non-compliant income ceiling. Interest expense was $70,697 thousand. The most recent annual figure (0.18%) is used for this gate.

What do third-party Shariah screeners say about Generac?

Zoya publishes a GNRC page citing FY2025 figures ($7,673,000 investment income against $4,209,147,000 revenue, about 0.18%) under its AAOIFI methodology, but the compliance rating on the page did not render in a text fetch, so its current rating could not be verified from public sources. I could not verify a Musaffa rating page for GNRC or a ShariaPortfolio rating from public sources. Third-party screeners apply different assumptions and update on different schedules, and their results can change when new financial statements are published - always check the latest screening before investing.

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).