NASDAQ Shariah screener · October 2026
Is Sanofi (SNY) Halal?
Sanofi · NASDAQ: SNY · Healthcare
The short answer
Yes - Sanofi (SNY) passes this Shariah stock screen on all three gates. The company is a French biopharmaceutical group whose business is prescription medicines and vaccines - immunology (Dupixent), specialty care, general medicines, and vaccines - with no haram segments disclosed in its FY2025 Form 20-F (fiscal year ended December 31, 2025, filed February 18, 2026); its Consumer Healthcare unit Opella was deconsolidated after the sale of a controlling stake to CD&R closed April 30, 2025. Interest-bearing debt of €18,590M (long-term €14,248M + short-term €4,342M, lease liabilities excluded) is about 24.2% of the ~$86.37B market cap ($40.67 latest quote, October 2, 2026), below the ~33% ceiling. Separately disclosed interest income of €320M is about 0.68% of total revenues (€46,716M), below the 5% ceiling. Note: Zoya lists SNY as Shariah-compliant and Musaffa classifies it halal (October 2026); no ShariaPortfolio screening rating was found.
Gate 1 — Business activity: PASS
Sanofi is a French biopharmaceutical group, headquartered in Paris, listed on the NASDAQ Global Select Market as ADS (ticker SNY) with ordinary shares on Euronext Paris. Per its FY2025 Form 20-F (year ended December 31, 2025, filed February 18, 2026), it reports a single operating segment, Biopharma, covering immunology (led by Dupixent at €15,714M net sales), specialty care and rare diseases, general medicines (Lantus, Toujeo, Plavix, Lovenox), and vaccines (RSV/Beyfortus, influenza, polio/pertussis/Hib, meningitis/travel). Opella (Consumer Healthcare) was deconsolidated after the sale of a controlling stake of about 50% to CD&R closed on April 30, 2025. Haram flags checked (factual, from the filings): the 20-F's business overview discloses no alcohol, tobacco, gambling, weapons, pork, or interest-based lending businesses - the company develops, manufactures and markets medicines and vaccines. Gate 1 passes. Facts only.
Gate 2 — Debt and cash: PASS
Per Sanofi's FY2025 Form 20-F, the balance sheet shows long-term debt of €14,248M and short-term debt plus current portion of long-term debt of €4,342M, for €18,590M of interest-bearing debt. Lease liabilities of €1,739M are reported separately and excluded (the 20-F states net debt does not include lease liabilities). Against a market cap of about $86.37B ($40.67 latest quote, October 2, 2026, per Finnhub), €18,590M of debt is about $20.9B at the October 2, 2026 EUR/USD rate of ~1.125 (Finnhub) - debt / market cap is about 24.2%, below the ~33% ceiling. Cash and cash equivalents of €7,657M (~$8.6B) are about 10.0% of market cap; there is no separate marketable-securities line. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: PASS
Sanofi's FY2025 Form 20-F discloses 'Interest income' of €320M as a separate line in Note D.29 (Financial expenses and income; it includes a €(11)M net loss on derivatives used to manage cash). Against total revenues of €46,716M (net sales €43,626M + other revenues €3,090M), that is about 0.68% of revenue, well below the 5% non-compliant income ceiling. The income-statement line 'Financial income' of €394M is about 0.84% of revenue, also under 5%. Gate 3 passes on the filing's disclosed line. Facts only.
Key figures used
- Business: French biopharmaceutical group - single Biopharma operating segment (immunology led by Dupixent €15,714M, specialty care/rare diseases, general medicines, vaccines incl. RSV/Beyfortus €1,781M); no haram segments (alcohol, tobacco, gambling, weapons, pork, interest-lending) disclosed in the FY2025 20-F; Opella consumer healthcare deconsolidated after sale of ~50% controlling stake to CD&R closed April 30, 2025
- Debt: €18,590M interest-bearing debt (long-term €14,248M + short-term €4,342M; lease liabilities €1,739M excluded) - about 24.2% of the ~$86.37B market cap, under the ~33% ceiling (ratios computed currency-neutral per the screener convention)
- Cash: €7,657M cash and cash equivalents at December 31, 2025 (no separate marketable-securities line), about 10.0% of market cap
- Interest income: €320M ('Interest income', Note D.29, FY2025) vs total revenues €46,716M (net sales €43,626M + other revenues €3,090M) - about 0.68% of revenue, under the 5% ceiling ('Financial income' €394M, 0.84%, also under 5%)
- Market cap: ~$86.37B ($40.67 latest quote, October 2, 2026, Finnhub); FY2025 Form 20-F (year ended Dec 31, 2025) filed February 18, 2026; ADS on NASDAQ Global Select Market, ordinary shares on Euronext Paris
- Zoya: covers SNY, lists it as Shariah-compliant (zoya.finance/stocks/sny); Musaffa: classifies SNY as halal (October 2026, AAOIFI methodology); ShariaPortfolio: no screening page or rating for SNY found
- Result: PASS on all three gates
Frequently asked questions
What does Sanofi do?
Sanofi is a French biopharmaceutical group headquartered in Paris, listed on the NASDAQ Global Select Market as ADS (ticker SNY) with ordinary shares on Euronext Paris. Per its FY2025 Form 20-F (year ended December 31, 2025, filed February 18, 2026), it now reports a single operating segment, Biopharma, comprising immunology (led by Dupixent, €15,714M net sales in 2025), specialty care and rare diseases, general medicines (Lantus, Toujeo, Plavix, Lovenox), and vaccines (RSV/Beyfortus, influenza, polio/pertussis/Hib, meningitis/travel). Its Consumer Healthcare unit Opella was deconsolidated after Sanofi sold a controlling stake of about 50% to CD&R, closing April 30, 2025. The 20-F discloses no alcohol, tobacco, gambling, weapons, pork, or interest-based lending businesses.
Why does Sanofi pass this Shariah stock screen?
Sanofi passes all three gates from its own filings. Gate 1: the business is prescription medicines and vaccines - immunology, specialty care, general medicines, and vaccines - with no haram segments disclosed in the FY2025 20-F; the Opella consumer-healthcare spin-off completed in 2025 leaves a pure biopharma business. Gate 2: interest-bearing debt of €18,590M (long-term €14,248M + short-term €4,342M, lease liabilities €1,739M excluded) is about 21.5% of the ~$86.37B market cap ($40.67 latest quote, October 2, 2026), below the ~33% ceiling. Gate 3: separately disclosed 'Interest income' of €320M (Note D.29) is about 0.68% of total revenues (€46,716M, FY2025), below the 5% ceiling. Note: Zoya lists SNY as Shariah-compliant and Musaffa classifies it halal (October 2026); no ShariaPortfolio screening rating was found. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.
What is Sanofi's interest-bearing debt ratio?
Per Sanofi's FY2025 Form 20-F (filed February 18, 2026), the balance sheet shows long-term debt of €14,248M and short-term debt plus current portion of long-term debt of €4,342M, for €18,590M of interest-bearing debt. Lease liabilities of €1,739M are reported separately and are excluded (the 20-F states net debt does not include lease liabilities). Against a market cap of about $86.37B ($40.67 latest quote on October 2, 2026, per Finnhub), debt / market cap is about 21.5% (computed currency-neutral per the screener convention) - below the ~33% ceiling. The 20-F's total debt of €18,702M (which adds €112M of derivatives used to manage debt) is about 21.7% and is also under the ceiling. Cash and cash equivalents of €7,657M are about 8.9% of market cap; there is no separate marketable-securities line. Gate 2 passes.
What is Sanofi's non-compliant income ratio?
Sanofi's FY2025 Form 20-F discloses 'Interest income' of €320M as a separate line in Note D.29 (Financial expenses and income); it includes a €(11)M net loss on derivatives used to manage cash and cash equivalents. Against total revenues of €46,716M (net sales €43,626M + other revenues €3,090M), that is about 0.68% of revenue, well below the 5% non-compliant income ceiling. The income-statement line 'Financial income' of €394M is about 0.84% of revenue, also under 5%. Gate 3 passes on the filing's disclosed line.
Do Zoya, Musaffa, or ShariaPortfolio cover Sanofi?
Zoya covers SNY and lists it as Shariah-compliant (zoya.finance/stocks/sny), citing the same FY2025 figures (revenue €46,716M; its interest-income computation of €331M, 0.71%, is also under 5%). Musaffa covers SNY and classifies it as halal as of October 2026 (AAOIFI methodology; musaffa.com/stock/SNY/). No ShariaPortfolio screening page or rating for SNY was found - reported as absent, not invented. This page applies the screen directly from Sanofi's own SEC filings and reports these positions honestly.
Sources
- Sanofi - FY2025 Form 20-F, year ended Dec 31, 2025, filed Feb 18, 2026 (NASDAQ ADS registration on cover; Item 4 business overview; Note D.35 single Biopharma segment; net sales €43,626M; other revenues €3,090M; balance sheet: long-term debt €14,248M, short-term debt €4,342M, lease liabilities €1,739M excluded from debt; cash €7,657M; income statement: 'Financial income' €394M; Note D.29: 'Interest income' €320M; Opella deconsolidation closed April 30, 2025)
- Finnhub - SNY market data (XNAS; $86.37B market cap, $40.67 current price, October 2, 2026)
- Zoya - Sanofi (SNY) stock page (status: Shariah-compliant; cites FY2025 revenue €46,716M and interest income €331M = 0.71%)
- Musaffa - Sanofi SA (SNY) stock page (status: halal, October 2026, AAOIFI methodology)
- Finnhub - EUR/USD forex (1.12495, October 2, 2026) used to convert Sanofi's EUR debt and cash to USD
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).