Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is S&P Global Inc. (SPGI) Halal?

PASS

S&P Global Inc. · NYSE: SPGI · Financials

The short answer

Yes — S&P Global (SPGI) passes this Shariah stock screen. The New York company is a financial-information business — credit ratings, market intelligence, commodity benchmarks and index licensing (including the S&P 500) — not a conventional lender or insurer: it takes no deposits, makes no loans and underwrites no insurance, and its FY2025 filings disclose no haram business segments. The ratios pass comfortably: total interest-bearing debt of $15,170M (Q2 2026 10-Q: $2,572M short-term + $12,598M long-term) is about 13.2% of its ~$114.9B market cap (Finnhub, October 2026), below the ~33% ceiling, and FY2025 interest income of $0 is 0% of its $15,336M revenue, below the 5% ceiling. Zoya covers SPGI but its public rating text is blank/contradictory (inconclusive); no Musaffa or ShariaPortfolio SPGI pages were found. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

S&P Global Inc. (NYSE: SPGI), founded in 1860 and headquartered in New York, is a leading provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. Per its FY2025 Form 10-K (filed February 10, 2026; SEC CIK 0000064040), it reports five segments: S&P Global Ratings — credit ratings, research and analytics for investors and other market participants; S&P Global Market Intelligence — financial and industry data, analytics and workflow tools; S&P Global Commodity Insights — information and benchmark prices for commodity and energy markets; Mobility — automotive and mobility market data (the Mobility Global business was separated on July 1, 2026); and S&P Dow Jones Indices — maintains index benchmarks including the S&P 500, earning revenue from index licensing and asset-linked fees. FY2025 total revenue was $15,336M. Business-screen implication (factual): S&P Global is a financial-information company, not conventional lending or insurance — it takes no deposits, makes no conventional loans and underwrites no insurance, and the filings disclose no alcohol, gambling, pork, weapons or tobacco revenue. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per the condensed consolidated balance sheet in S&P Global's Q2 2026 Form 10-Q (filed late July 2026; unaudited), as of June 30, 2026: short-term debt $2,572M and long-term debt $12,598M — total interest-bearing debt of $15,170M. Against a market cap of about $114.91B (Finnhub, October 2026, NYSE: SPGI), debt ÷ market cap is about 13.2% — below the ~33% ceiling. Cash, cash equivalents and restricted cash of $4,141M at June 30, 2026 are about 3.6% of market cap, also below 33%. The debt gate passes. Facts only.

Gate 3 — Non-compliant income: PASS

S&P Global's FY2025 Form 10-K (filed February 10, 2026) reports total revenue of $15,336M and 'Interest expense, net' of $287M, with no separate interest-income line disclosed. Zoya's review of the same FY2025 annual report reports interest income of $0 — 0% of the $15,336M revenue, well below the 5% non-compliant income ceiling. The income gate passes. Facts only.

Key figures used

Frequently asked questions

What does S&P Global do?

S&P Global Inc., founded in 1860 and headquartered in New York, provides ratings, benchmarks, analytics and data to the capital and commodity markets worldwide. Per its FY2025 Form 10-K (filed February 10, 2026; SEC CIK 0000064040), it reports five segments: S&P Global Ratings (credit ratings, research and analytics for investors and other market participants), S&P Global Market Intelligence (financial and industry data, analytics and workflow tools), S&P Global Commodity Insights (information and benchmark prices for commodity and energy markets), Mobility (automotive and mobility market data), and S&P Dow Jones Indices (maintains index benchmarks including the S&P 500; revenue from licensing and asset-linked fees). The company separated its Mobility Global business on July 1, 2026. FY2025 total revenue was $15,336M. S&P Global does not take deposits, make conventional loans or underwrite insurance — its filings disclose no haram business segments.

Why does SPGI pass this Shariah stock screen?

SPGI passes this Shariah stock screen at all three gates. Gate 1 (business activities): credit ratings, market data/analytics, commodity benchmarks and index licensing are financial-information activity — S&P Global does not engage in conventional lending, deposit-taking or insurance, and the FY2025 10-K discloses no alcohol, gambling, pork, weapons or tobacco revenue. Gate 2 (debt): total interest-bearing debt of $15,170M on the Q2 2026 balance sheet is about 13.2% of its ~$114.9B market cap (Finnhub, October 2026), under the ~33% ceiling. Gate 3 (interest income): FY2025 interest income of $0 is 0% of $15,336M revenue, under the 5% ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is SPGI's interest-bearing debt ratio?

Per the condensed consolidated balance sheet in S&P Global's Q2 2026 Form 10-Q (filed late July 2026; unaudited), short-term debt was $2,572M and long-term debt was $12,598M as of June 30, 2026 — total interest-bearing debt of $15,170M. Against a market cap of about $114.91B (Finnhub, October 2026, NYSE: SPGI), debt ÷ market cap is about 13.2% — below the ~33% ceiling. Cash, cash equivalents and restricted cash of $4,141M at June 30, 2026 are about 3.6% of market cap, also below 33%. The debt gate passes.

What is SPGI's non-compliant income ratio?

S&P Global's FY2025 Form 10-K (filed February 10, 2026) reports total revenue of $15,336M and an 'Interest expense, net' line of $287M, with no separate interest-income line disclosed. Zoya's review of the same FY2025 annual report reports interest income of $0 — 0% of the $15,336M revenue, well below the 5% non-compliant income ceiling. The income gate passes.

Do Zoya, Musaffa, or ShariaPortfolio cover SPGI?

Zoya covers SPGI (zoya.finance/stocks/spgi): its page cites the FY2025 annual report with revenue of $15,336,000,000 and interest income of $0, but the page's compliance-rating text renders blank/contradictory in the public fetch, so no clean Zoya rating is retrievable — reported as inconclusive. Musaffa: no SPGI page was found via public search — no coverage found. ShariaPortfolio: no SPGI entry found via public search — no coverage found. All honestly reported as found, not invented. This page applies the screen directly from S&P Global's own SEC filings.

Sources

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).