NYSE Shariah screener · October 2026
Is The Sherwin-Williams Company (SHW) Halal?
The Sherwin-Williams Company · NYSE: SHW · Materials
The short answer
Yes - The Sherwin-Williams Company (SHW) passes this Shariah stock screen on all three gates. Sherwin-Williams, headquartered in Cleveland, Ohio, is the world's largest manufacturer of paint, coatings, and related products - 4,841 Paint Stores Group stores, 308 Consumer Brands Group stores, and 317 Performance Coatings Group branches as of June 30, 2026 - and its business (paint, coatings, and related products) involves no alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance, so Gate 1 passes. Total interest-bearing debt of $12,072.1M is about 15.55% of its ~$77.62B market cap (~$319.73/share, October 2026), below the ~33% ceiling, so Gate 2 passes. Interest income of $11.2M is about 0.05% of FY2025 net sales ($23,574.3M), below the 5% ceiling, so Gate 3 passes. Overall result: PASS. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.
Gate 1 — Business activity: PASS
The Sherwin-Williams Company (NYSE: SHW), founded in 1866 and incorporated in Ohio in 1884, is headquartered in Cleveland, Ohio, and is the world's largest manufacturer of paint, coatings, and related products. Per its 10-K, it develops, manufactures, distributes, and sells paint and coatings to professional, industrial, commercial, and retail customers primarily in North and South America, with additional operations in the Caribbean region, Europe, Asia, and Australia. It reports three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group - as of June 30, 2026, it operated 4,841 Paint Stores Group stores, 308 Consumer Brands Group stores, and 317 Performance Coatings Group branches. Business-screen implication (factual): the entire reported business is paint, coatings, and related products - none involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance. Gate 1 passes. Facts only.
Gate 2 — Debt and cash: PASS
Per Sherwin-Williams' Q2 2026 Form 10-Q (period ended June 30, 2026; Commission File No. 1-04851), total interest-bearing debt was $12,072.1M - short-term borrowings $2,246.4M + current portion of long-term debt $1,498.4M + long-term debt $8,327.3M (the 10-Q MD&A discloses 'Total debt outstanding' of $12,072.1M). Against a market cap of about $77.62B (~$319.73/share, October 2026, per Finnhub), debt / market cap is about 15.55% - below the ~33% ceiling. Cash and cash equivalents of $293.5M are about 0.38% of market cap. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: PASS
Sherwin-Williams' FY2025 Form 10-K (fiscal year ended December 31, 2025; Commission File No. 1-04851; filed February 19, 2026) discloses interest income of $11.2M on the Statements of Consolidated Income, against FY2025 net sales of $23,574.3M - about 0.05% of revenue, below the 5% non-compliant income ceiling. Interest expense for FY2025 was $465.0M. Gate 3 passes. Facts only.
Key figures used
- Business: founded 1866, incorporated in Ohio 1884, HQ Cleveland, OH - the world's largest manufacturer of paint, coatings, and related products, serving professional, industrial, commercial, and retail customers
- Three reportable segments: Paint Stores Group (4,841 stores), Consumer Brands Group (308 stores), Performance Coatings Group (317 branches) as of June 30, 2026; operations primarily in North and South America plus the Caribbean, Europe, Asia, and Australia
- No haram segments: all reported revenue from paint, coatings, and related products - no alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance
- Debt: $12,072.1M (short-term borrowings $2,246.4M + current portion LT debt $1,498.4M + LT debt $8,327.3M, Q2 2026 10-Q) - debt / market cap is about 15.55% of ~$77.62B (~$319.73/share, Oct 2026) - UNDER the ~33% ceiling, so Gate 2 PASSES
- Cash and cash equivalents $293.5M (about 0.38% of market cap); FY2025 interest expense $465.0M; no delisting anywhere - live NYSE quote, Finnhub XNYS, current price ~$320.78 (Oct 2026)
- Interest income: $11.2M (FY2025 10-K Statements of Consolidated Income) vs net sales $23,574.3M - about 0.05% of revenue, under the 5% ceiling (Gate 3 PASSES); Zoya: SHW page exists, states Shariah-compliant Oct 2026 but page text self-contradictory (reported inconclusive); Zoya's $11.2M interest-income figure matches the 10-K; Musaffa: no SHW page; ShariaPortfolio: no SHW entry
Frequently asked questions
What does Sherwin-Williams do?
The Sherwin-Williams Company (NYSE: SHW), founded in 1866 and incorporated in Ohio in 1884, is headquartered in Cleveland, Ohio, and is the world's largest manufacturer of paint, coatings, and related products. Per its filings, it develops, manufactures, distributes, and sells paint and coatings to professional, industrial, commercial, and retail customers primarily in North and South America, with additional operations in the Caribbean region, Europe, Asia, and Australia. It reports three segments: Paint Stores Group, Consumer Brands Group, and Performance Coatings Group. As of June 30, 2026, it operated 4,841 Paint Stores Group stores, 308 Consumer Brands Group stores, and 317 Performance Coatings Group branches.
Why does Sherwin-Williams pass this Shariah stock screen?
Sherwin-Williams passes all three gates of this Shariah stock screen. Gate 1 (business activity): the business is paint, coatings, and related products - none involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance; Gate 1 passes. Gate 2 (debt): total interest-bearing debt of $12,072.1M (short-term borrowings $2,246.4M + current portion of long-term debt $1,498.4M + long-term debt $8,327.3M, Q2 2026 10-Q) is about 15.55% of its ~$77.62B market cap (~$319.73/share, October 2026, per Finnhub) - below the ~33% ceiling; Gate 2 passes. Gate 3 (non-compliant income): interest income of $11.2M (FY2025 10-K) is about 0.05% of FY2025 net sales ($23,574.3M) - below the 5% ceiling; Gate 3 passes. Result: PASS. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.
What is Sherwin-Williams' interest-bearing debt ratio?
Per Sherwin-Williams' Q2 2026 Form 10-Q (period ended June 30, 2026; Commission File No. 1-04851), total interest-bearing debt was $12,072.1M - short-term borrowings $2,246.4M + current portion of long-term debt $1,498.4M + long-term debt $8,327.3M (the 10-Q MD&A discloses 'Total debt outstanding' of $12,072.1M). Against a market cap of about $77.62B (~$319.73/share, October 2026, per Finnhub; Finnhub's live quote was $320.78), debt / market cap is about 15.55% - below the ~33% ceiling, so Gate 2 passes. Cash and cash equivalents of $293.5M are about 0.38% of market cap. Facts only.
What is Sherwin-Williams' non-compliant income ratio?
Sherwin-Williams' FY2025 Form 10-K (fiscal year ended December 31, 2025; Commission File No. 1-04851; filed February 19, 2026) discloses interest income of $11.2M on the Statements of Consolidated Income, against FY2025 net sales of $23,574.3M - about 0.05% of revenue, below the 5% non-compliant income ceiling, so Gate 3 passes. Interest expense for FY2025 was $465.0M. Facts only.
Do Zoya, Musaffa, or ShariaPortfolio cover Sherwin-Williams?
Zoya covers Sherwin-Williams at zoya.finance/stocks/shw and its page states 'As of October 2026, SHW is Shariah-compliant,' but the public page renders contradictory auto-generated template text (simultaneously calling SHW 'considered halal to invest in' and 'not considered halal to invest in,' and simultaneously citing $11,200,000 of interest income and no disclosed interest income), so the text is honestly reported as inconclusive even though the stated rating direction is positive; Zoya's $11.2M interest-income figure matches the FY2025 10-K. Musaffa: no SHW page surfaced in search. ShariaPortfolio: no SHW entry found. All honestly reported as absent/inconclusive, not invented. This page applies the screen directly from Sherwin-Williams' own SEC filings.
Sources
- Sherwin-Williams - Q2 2026 Form 10-Q (period ended Jun 30, 2026; File No. 1-04851): short-term borrowings $2,246.4M; current portion of LT debt $1,498.4M; LT debt $8,327.3M; total debt outstanding $12,072.1M; cash $293.5M; store counts (4,841 / 308 / 317)
- Sherwin-Williams - Q3 2025 Form 10-Q cover (period ended Sep 30, 2025; File No. 1-04851): Common Stock, par value $0.33-1/3 per share | SHW | New York Stock Exchange
- Sherwin-Williams - FY2025 Form 10-K (year ended Dec 31, 2025; File No. 1-04851; filed Feb 19, 2026): net sales $23,574.3M; interest income $11.2M; interest expense $465.0M; founded 1866, incorporated Ohio 1884
- Finnhub - SHW live quote data (XNYS, price ~$320.78, October 2026)
- Zoya - Sherwin-Williams (SHW) stock page (public text contradictory; stated rating direction compliant, text inconclusive)
Screened 2026-10-01 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).