Canadian Halal Investor.

NASDAQ Shariah screener · October 2026

Is SK hynix Inc. (SKHY) Halal?

PASS

SK hynix Inc. · NASDAQ: SKHY · Technology

The short answer

Yes - SK hynix Inc. (SKHY) passes this Shariah stock screen at all three gates. SK Hynix, the Korean memory-chip maker based in Icheon, manufactures DRAM, NAND flash, and high-bandwidth memory (it is the dominant HBM supplier to Nvidia AI accelerators) - none of which involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance. The financial ratios pass: total debt of KRW 18.6 trillion is about 1.44% of its ~KRW 1,288.63 trillion market cap ($193.50/ADS, October 1, 2026), below the ~33% ceiling, and interest income of KRW 494,327 million is about 0.51% of FY2025 revenue (KRW 97.1467 trillion), below the 5% ceiling. One honest caveat: total finance income was 16.86% of revenue, dominated by a one-time revaluation gain on the company's Kioxia stake (shares of a memory-chip maker, not interest income), and Musaffa independently rates SKHY 'doubtful' under AAOIFI methodology - reported here as a competing view. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

SK hynix Inc. (NASDAQ: SKHY), headquartered in Icheon, Korea, is a semiconductor memory manufacturer. Per its SEC Form F-1 (filed June 24, 2026; CIK 2120882) and company disclosures, its main products are DRAM (about 60-70% of revenue) and NAND flash memory (about 30-35%) - the world's number-two supplier in both, with 33% DRAM and 21% NAND market share in 2024. It is the dominant supplier of high-bandwidth memory (HBM) used in Nvidia AI accelerators, sells enterprise SSDs through Solidigm (the former Intel NAND business, acquired 2021), and runs a small foundry business for non-memory chips. Business-screen implication (factual): every disclosed segment makes memory chips - none involve alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance. No haram segment is disclosed. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per SK Hynix's official Q2 2026 results release (July 28, 2026), total debt was KRW 18.6 trillion at end-Q2 2026 (down KRW 0.7 trillion in the quarter; the SEC F-1 cap table showed KRW 16.796T at March 31, 2026). Against a market cap of about KRW 1,288.63 trillion (Finnhub KRW-denominated figure - the ADS close was $193.50 on October 1, 2026 times about 7.305 billion ADSs outstanding, about $1.41T), debt / market cap is about 1.44% - far below the ~33% ceiling. Cash and cash equivalents were KRW 88 trillion (about 6.8% of market cap), and the company reports a net cash position of KRW 69.4 trillion. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

SK Hynix's SEC Form F-1 (filed June 24, 2026; CIK 2120882), Note 27 'Finance Income and Expenses', discloses FY2025 interest income of KRW 494,327 million. Against FY2025 revenue of KRW 97.1467 trillion (official results release, January 28, 2026), that is about 0.51% of revenue - below the 5% non-compliant income ceiling. For transparency: total finance income was KRW 16,373,480 million (about 16.86% of revenue), dominated by a KRW 12,012,137 million gain on valuation of financial instruments - a one-time revaluation of the company's Kioxia stake, i.e. a gain on shares of a memory-chip maker rather than interest or income from a non-compliant activity. Under this site's methodology (interest income plus income from non-compliant activities, divided by total revenue), the gate-3 figure is 0.51%. Competing view, reported honestly: Musaffa independently rates SKHY 'doubtful' under AAOIFI methodology. Gate 3 passes. Facts only.

Key figures used

Frequently asked questions

What does SK Hynix do?

SK hynix Inc. (NASDAQ: SKHY), based in Icheon, Korea, is a semiconductor memory manufacturer. Its main products are DRAM (about 60-70% of revenue) and NAND flash memory (about 30-35%) - it is the world's number-two supplier in both, with 33% DRAM and 21% NAND market share in 2024. It is the dominant supplier of high-bandwidth memory (HBM) used in Nvidia AI accelerators, sells enterprise SSDs through Solidigm (the former Intel NAND business, acquired 2021), and runs a small foundry business for non-memory chips. Its American Depositary Shares began regular-way trading on the Nasdaq Global Select Market on July 10, 2026.

Why does SK Hynix pass this Shariah stock screen?

SK Hynix passes all three gates of this Shariah stock screen. Gate 1 (business activity): DRAM, NAND, HBM, and enterprise SSD manufacturing involve no alcohol, tobacco, gambling, weapons, adult entertainment, pork, or conventional finance - a clean business. Gate 2 (debt): total debt of KRW 18.6 trillion is about 1.44% of its ~KRW 1,288.63 trillion market cap, far below the ~33% ceiling. Gate 3 (non-compliant income): interest income of KRW 494,327 million is about 0.51% of FY2025 revenue (KRW 97.1467 trillion), below the 5% ceiling. Result: PASS. One honest caveat: Musaffa independently rates SKHY 'doubtful' under AAOIFI methodology, and total finance income (16.86% of revenue) is dominated by a one-time Kioxia-stake revaluation gain - see gate 3. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is SK Hynix's interest-bearing debt ratio?

Per SK Hynix's official Q2 2026 results release (July 28, 2026), total debt was KRW 18.6 trillion at end-Q2 2026 (down KRW 0.7 trillion; the SEC F-1 cap table showed KRW 16.796T at March 31, 2026). Against a market cap of about KRW 1,288.63 trillion (Finnhub KRW-denominated figure; the ADS close was $193.50 on October 1, 2026 times about 7.305 billion ADSs outstanding, about $1.41T), debt / market cap is about 1.44% - far below the ~33% ceiling. Cash and cash equivalents were KRW 88 trillion (about 6.8% of market cap), and the company reports a net cash position of KRW 69.4 trillion. Gate 2 passes. Facts only.

How much interest income does SK Hynix earn?

SK Hynix's SEC Form F-1 (filed June 24, 2026; CIK 2120882), Note 27 'Finance Income and Expenses', discloses FY2025 interest income of KRW 494,327 million. Against FY2025 revenue of KRW 97.1467 trillion (official results release, January 28, 2026), that is about 0.51% of revenue - below the 5% non-compliant income ceiling. For transparency: total finance income was KRW 16,373,480 million (about 16.86% of revenue), dominated by a KRW 12,012,137 million gain on valuation of financial instruments - a one-time revaluation of the company's Kioxia stake, which is a gain on shares of a memory-chip maker rather than interest or income from a non-compliant activity. Under this site's methodology (interest income plus income from non-compliant activities), the gate-3 figure is 0.51%. Musaffa independently rates SKHY 'doubtful' - reported honestly as a competing view. Gate 3 passes. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover SK Hynix?

Zoya: no coverage found - no zoya.finance stock page for SKHY was located in targeted searches, so no Zoya rating can be confirmed or reported. Musaffa: COVERS SKHY at musaffa.com/stock/SKHY/ and classifies it as 'DOUBTFUL' under AAOIFI methodology as of October 2026 - reported honestly as a competing view to this screen's PASS. ShariaPortfolio: no SKHY coverage was found in targeted searches - honestly reported as no coverage found, not invented.

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).