NYSE Shariah screener · October 2026
Is Hormel Foods Corporation (HRL) Halal?
Hormel Foods Corporation · NYSE: HRL · Consumer Staples
The short answer
Hormel Foods passes all three Shariah gates: it is a branded food manufacturer (not an interest-based lender), carries about $2.9B of interest-bearing debt (26.6% of its ~$10.89 billion market cap), and interest income of about 0.20% of revenue is under the 5% ceiling.
Gate 1 — Business activity: PASS
Gate 1 — business activity: PASS. Hormel Foods Corporation, per its FY2025 Form 10-K (fiscal year ended October 26, 2025, filed December 5, 2025), is a branded packaged-foods company founded in 1891 and headquartered in Austin, Minnesota. It manufactures and markets shelf-stable, refrigerated and fresh food products under brands including SPAM, Planters, Skippy, Jennie-O, Hormel Black Label, Applegate, Herdez, Wholly, Columbus and Justin's, sold through Retail, Foodservice and International segments. Recent portfolio moves include the sale of the whole-bird turkey business (completed in the second quarter of fiscal 2026) and the sale of Brazil operations under the Ceratti brand (closed early in the fourth quarter of fiscal 2026).
It is not an interest-based lender and is not involved in tobacco, gambling, conventional banking or insurance. For transparency: its products include pork-based items (SPAM, bacon, Hormel chili) — food products that do not change the business-line assessment. The business passes gate 1.
Gate 2 — Debt and cash: PASS
Gate 2 — interest-bearing debt: PASS (26.6%, ceiling 33%). Hormel Foods' Q4 fiscal 2025 results release (December 4, 2025) reports total long-term debt, including current maturities, of $2.9 billion at fiscal year-end (October 26, 2025).
$2.9 billion against a market capitalization of about $10.89 billion (Finnhub, October 2, 2026; NYSE: HRL) is about 26.6%, under the 33% ceiling. Cash on hand was $671 million at fiscal year-end (about 6.2% of market cap). The company describes its financial position as strong with a conservative level of debt.
Gate 3 — Non-compliant income: PASS
Gate 3 — non-compliant income: PASS (0.20%, ceiling 5%). Hormel Foods' FY2025 Form 10-K consolidated statements of operations separately disclose interest income of $24,227 thousand on its own income-statement line against net sales of $12,106,160 thousand — about 0.20%, under the 5% ceiling (fiscal 2024: $40,172 thousand; fiscal 2023: $23,501 thousand).
The most recent annual figure (0.20%) is used for this gate. For transparency: Zoya's page flags Hormel Foods as not Shariah-compliant as of September 2026 while citing these identical FY2025 figures — a divergence reported honestly in the third-party FAQ below.
Key figures used
- Business: branded packaged foods — SPAM, Planters, Skippy, Jennie-O, Hormel Black Label, Applegate, Herdez, Wholly, Columbus, Justin's; segments Retail, Foodservice, International; founded 1891, HQ Austin MN; sold whole-bird turkey business (Q2 FY2026) and Brazil/Ceratti operations (early Q4 FY2026)
- Haram assessment: food manufacturer/marketer; not an interest-based lender; no tobacco/gambling/banking/insurance; pork-based food products (SPAM, bacon) are food products, not a business-line issue
- Debt: $2.9B total long-term debt incl. current maturities at Oct 26, 2025 (Q4 FY2025 release) = 26.6% of ~$10.89B market cap (Finnhub, Oct 2, 2026) — under the 33% ceiling
- Cash: $671M cash on hand at fiscal year-end (~6.2% of market cap)
- Interest income: $24,227K in FY2025 vs $12,106,160K net sales = 0.20% — under the 5% ceiling (FY2024: $40,172K; FY2023: $23,501K; separately disclosed on its own income-statement line)
- Market data: NYSE-listed (HRL); still listed on NYSE (confirmed October 2, 2026; Finnhub XNYS live quote, no delisting)
- Third-party: Zoya flags HRL not Shariah-compliant (Sep 2026) while citing identical FY2025 figures (0.2%) — divergence reported honestly; no verifiable Musaffa or ShariaPortfolio rating found
Frequently asked questions
What does Hormel Foods do?
Hormel Foods Corporation (NYSE: HRL) is a branded packaged-foods company founded in 1891 and headquartered in Austin, Minnesota. Per its FY2025 Form 10-K (fiscal year ended October 26, 2025, filed December 5, 2025), it sells shelf-stable, refrigerated, and fresh food products under brands including SPAM, Planters, Skippy, Jennie-O, Hormel Black Label, Applegate, Herdez, Wholly, Columbus and Justin's through three segments: Retail, Foodservice, and International. Recent portfolio moves include the sale of the whole-bird turkey business (completed Q2 FY2026) and the sale of Brazil operations under the Ceratti brand (closed early Q4 FY2026).
Is Hormel Foods' business Shariah compliant?
Hormel Foods is a branded food manufacturer and marketer - meats, snacks, peanut butter, turkey and foodservice products. It is not an interest-based lender and is not involved in tobacco, gambling, conventional banking or insurance. For transparency: its products include pork-based items (SPAM, bacon, Hormel chili), which are food products and do not change the business-line assessment. Assessed on the filed numbers, the business passes this screener's first gate.
How much interest-bearing debt does Hormel Foods have?
Hormel Foods' Q4 fiscal 2025 results release reports total long-term debt, including current maturities, of $2.9 billion at fiscal year-end (October 26, 2025). Against a market capitalization of about $10.89 billion (Finnhub, October 2, 2026), that is about 26.6% - under the 33% ceiling. Cash on hand was $671 million at fiscal year-end (about 6.2% of market cap).
How much interest income does Hormel Foods earn?
Hormel Foods' FY2025 Form 10-K separately discloses interest income of $24,227 thousand on its own income-statement line against net sales of $12,106,160 thousand - about 0.20%, under the 5% non-compliant income ceiling (fiscal 2024: $40,172 thousand; fiscal 2023: $23,501 thousand). The most recent annual figure (0.20%) is used for this gate.
What do third-party Shariah screeners say about Hormel Foods?
Zoya's page flags Hormel Foods as not Shariah-compliant as of September 2026, while citing the identical FY2025 figures (interest income $24,227,000 against revenue $12,106,160,000, about 0.2%) - a divergence from this page's business-activity assessment, reported honestly here. I could not verify a Musaffa rating page for HRL 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
- Hormel Foods FY2025 Form 10-K (fiscal year ended Oct 26, 2025, filed Dec 5, 2025; SEC-filing PDF mirror, statements of operations)
- Hormel Foods Q4 fiscal 2025 results press release (Dec 4, 2025; balance sheet: $2.9B debt, $671M cash)
- Finnhub - Hormel Foods financial market data (XNYS, market cap $10.89B, live quote Oct 2, 2026)
- Zoya - Hormel Foods (HRL) Shariah compliance page (not Shariah-compliant, Sep 2026)
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).