NYSE Shariah screener · October 2026

Is Phillips 66 (PSX) Halal?

PASS

Phillips 66 · NYSE: PSX · Energy

The short answer

Phillips 66 (NYSE: PSX) passes this three-gate Shariah screener. Gate 1 passes - the business is downstream energy across five segments (Midstream, Chemicals, Refining, Marketing and Specialties, Renewable Fuels) with no alcohol, gambling, tobacco, pork, weapons, or interest-based lending segments disclosed in its filings. Gate 2 passes - interest-bearing debt of $20,565M (short-term $1,797M plus long-term $18,768M at June 30, 2026, per the Q2 2026 10-Q) is about 20.3% of the ~$101.2B market cap, below the ~33% ceiling. Gate 3 passes - interest income is separately disclosed at $81M in Q2 2026, about 0.16% of the quarter's $51,004M in sales revenue, below the 5% ceiling. Note: Zoya rates PSX not Shariah-compliant (September 2026) and Musaffa classifies it NOT HALAL (October 2026); no ShariaPortfolio rating was found. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Phillips 66 is a leading integrated downstream energy provider operating with five segments, per its Q2 2026 10-Q: Midstream (transportation, storage, and processing of crude oil, natural gas, and natural gas liquids), Chemicals (primarily its 50% equity interest in Chevron Phillips Chemical Company), Refining (processing crude into gasoline, distillates, and other petroleum products), Marketing and Specialties (purchase and resale of refined products, mainly in the US and Europe), and Renewable Fuels. Headquartered in Houston, Texas, its common stock trades on the New York Stock Exchange under the symbol PSX. Haram flags checked (factual, from the filings): no alcohol, gambling, tobacco, pork, weapons, or interest-based lending businesses are disclosed. Gate 1 PASSES on business activities. Facts only.

Gate 2 — Debt and cash: PASS

Per the Q2 2026 10-Q balance sheet (quarter ended June 30, 2026, filed August 5, 2026): short-term debt $1,797M plus long-term debt $18,768M = $20,565M total interest-bearing debt - operating lease liabilities are reported separately and excluded. Against a market cap of about $101.2B (Finnhub, October 2, 2026; ~$264.23 per share), debt / market cap is ~20.3%, below the ~33% ceiling. Cash and cash equivalents of $4,099M are about 4.1% of market cap. The CFO also stated total debt of $20.6B and net debt of $16.5B on the Q2 call. Gate 2 PASSES. Facts only.

Gate 3 — Non-compliant income: PASS

Interest income is separately disclosed: the Q2 2026 10-Q segment disclosures show interest income of $81M for the quarter ended June 30, 2026, against sales and other operating revenues of $51,004M in the same quarter - ~0.16%, far below the 5% ceiling. For the six months ended June 30, 2026, interest income was $112M against revenue of $83,544M (~0.13%). Cash and cash equivalents of $4,099M are about 4.1% of market cap. Gate 3 PASSES. Facts only. Disagreement noted: Zoya rates PSX not Shariah-compliant (September 2026, AAOIFI) and Musaffa classifies it NOT HALAL (October 2026, AAOIFI) - their positions are reported alongside, not hidden.

Key figures used

Business: leading integrated downstream energy provider - five segments: Midstream, Chemicals (50% JV in Chevron Phillips Chemical Company), Refining, Marketing and Specialties (M&S), Renewable Fuels; HQ Houston, Texas; NYSE-listed under PSX; no haram segments disclosed
Debt: $20,565M interest-bearing debt (short-term $1,797M + long-term $18,768M at Jun 30, 2026; operating leases excluded) - debt / market cap ~20.3% of ~$101.2B, below the ~33% ceiling; CFO also stated total debt $20.6B, net debt $16.5B on the Q2 call
Cash: $4,099M cash and cash equivalents at Jun 30, 2026 - about 4.1% of market cap; total assets $81.81B
Interest income: separately disclosed - $81M in Q2 2026 against sales revenue $51,004M = ~0.16% (below 5%); H1 2026: $112M against $83,544M = ~0.13%
Q2 2026 results: net income attributable to PSX $3,847M ($9.55 diluted EPS); refineries at 96% crude capacity utilization
Market cap: ~$101.2B (~$264.23 per share, October 2, 2026, Finnhub); NYSE-listed (XNYS), no delisting - confirmed trading
Zoya: not Shariah-compliant (September 2026, AAOIFI; FY2025 revenue $132,189M, interest income $141M = 0.11%); Musaffa: NOT HALAL (October 2026, AAOIFI); ShariaPortfolio: no coverage found
Result: PASS (provisional: false) - all three gates pass on verified SEC filing figures; third-party disagreement disclosed, not a religious ruling

Frequently asked questions

What does Phillips 66 do?

Phillips 66 (NYSE: PSX) is an integrated downstream energy company headquartered in Houston, Texas. Per its Q2 2026 10-Q, it operates five segments: Midstream, Chemicals, Refining, Marketing and Specialties (M&S), and Renewable Fuels. Refining processes crude oil into gasoline, diesel, and other petroleum products; Midstream transports and processes crude, natural gas, and natural gas liquids; Chemicals is mainly its 50% equity interest in Chevron Phillips Chemical Company; M&S markets refined products and specialties; Renewable Fuels produces renewable fuels. The filings disclose no alcohol, gambling, tobacco, pork, weapons, or interest-based lending businesses - gate 1 passes on business activities.

What is Phillips 66's debt-to-market-cap ratio?

Per the Q2 2026 10-Q balance sheet (quarter ended June 30, 2026, filed August 5, 2026): short-term debt $1,797M plus long-term debt $18,768M gives $20,565M of total interest-bearing debt. Operating lease liabilities are reported separately and excluded. Against a market cap of about $101.2B (Finnhub, October 2, 2026; ~$264.23 per share), debt / market cap is about 20.3% - below the ~33% ceiling. Cash and cash equivalents of $4,099M are about 4.1% of market cap. Gate 2 passes. The company's CFO also stated total debt of $20.6B and net debt of $16.5B on the Q2 2026 earnings call.

Does Phillips 66 earn interest income, and how much?

Yes, and it is separately disclosed. The Q2 2026 10-Q segment disclosures show interest income of $81M for the quarter ended June 30, 2026 (Corporate column), against sales and other operating revenues of $51,004M in the same quarter - about 0.16%, far below the 5% ceiling. For the six months ended June 30, 2026, interest income was $112M against $83,544M of revenue (about 0.13%). Gate 3 passes.

Is Phillips 66 (PSX) stock halal?

Under this screener's three gates, yes: the business segments are all energy downstream activities with no haram segments disclosed (gate 1 passes); interest-bearing debt of $20,565M is about 20.3% of the ~$101.2B market cap, below the ~33% ceiling (gate 2 passes); and separately disclosed interest income of $81M in Q2 2026 is about 0.16% of revenue, below the 5% ceiling (gate 3 passes). Result: PASS. Two third-party screeners disagree with this assessment, so this result is reported alongside their positions, not as a religious ruling - consult a qualified scholar for personal rulings.

Do Zoya, Musaffa, or ShariaPortfolio cover Phillips 66?

Zoya covers PSX and flags it not Shariah-compliant as of September 2026 (AAOIFI guidelines; zoya.finance/stocks/psx), citing its FY2025 figures (revenue $132,189M, interest income $141M, or 0.11%). Musaffa covers PSX and classifies it as NOT HALAL as of October 2026 (AAOIFI methodology; musaffa.com/stock/PSX/), without detailing which threshold failed on the visible page. No ShariaPortfolio screening page or rating for PSX was found - reported as absent, not invented. This screener's own PASS is based on the ratios computed from Phillips 66's SEC filings as above, and the disagreement is disclosed so readers can weigh both positions.

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).