Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is U.S. Bancorp (USB) Halal?

FAIL

U.S. Bancorp · NYSE: USB · Financials

The short answer

No - U.S. Bancorp (USB) fails this Shariah stock screen at all three gates. U.S. Bancorp, the Minneapolis-based regional bank, earns its revenue from conventional banking and financial services - retail and commercial banking, credit cards, mortgages, payment services, wealth management, and capital markets (FY2025 total net revenue $28,656M) - a core non-compliant business segment. The financial ratios also fail: total liabilities of about $626,690M are about 682.9% of its ~$91.77B market cap ($57.36/share, October 2026), far above the ~33% ceiling, and net interest income of $16,649M is about 58.10% of revenue - gross interest income is 72.26% per Zoya's parse - far above the 5% ceiling. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

Gate 1 — Business activity: FAIL

U.S. Bancorp (NYSE: USB), headquartered in Minneapolis, Minnesota, is a financial services holding company and one of the largest regional banks in the United States. Per its Form 10-K for the fiscal year ended December 31, 2025 (FY2025 figures from the 2025 Annual Report financials, part of the 10-K filing; CIK 36104), business lines include retail and commercial banking, credit cards, mortgages, payment services, trust, wealth management, and capital markets services. Segments: Consumer and Business Banking, Payment Services, Corporate and Commercial Banking, Wealth Management and Investment Services. Branch footprint in 26 states (mostly Midwestern and Western markets); ~68,520 employees; total assets of $692,345M at Dec 31, 2025. Business-screen implication (factual): conventional banking (lending, deposit-taking, payments, wealth management) is the core business - conventional finance is a core non-compliant segment under AAOIFI-based screens, the same treatment as the banks screened earlier in this pipeline (Banco Santander, SMFG, BBVA, Mizuho, BNY). Gate 1 fails. Facts only.

Gate 2 — Debt and cash: FAIL

Per U.S. Bancorp's Form 10-K for the fiscal year ended December 31, 2025 (FY2025 figures from the 2025 Annual Report financials, part of the 10-K filing; CIK 36104; $ millions), total liabilities at December 31, 2025 were about $626,690M (TipRanks independently reports $626,690M; cross-check: total assets $692,345M - shareholders' equity $65,193M = $627,152M - consistent). Against a market cap of about $91.77B ($57.36 per share, Finnhub, October 2026; sanity check: 1,558M average diluted common shares x $57.36 = about $89.38B - within ~3%), liabilities / market cap is about 682.9% - far above the ~33% ceiling. Long-term debt alone (~$77.9B per TipRanks) would be ~85% of market cap - fails on its own. Cash and short-term investments of about $137,730M (TipRanks Q4 2025) is about 150.1% of market cap - above the 33% ceiling (treat the cash figure as indicative, not filed). Gate 2 fails. Facts only.

Gate 3 — Non-compliant income: FAIL

Per U.S. Bancorp's Form 10-K for the fiscal year ended December 31, 2025 (FY2025 figures from the 2025 Annual Report financials, part of the 10-K filing; $ millions), net interest income was $16,649M (taxable-equivalent basis $16,765M; net interest margin 2.72%) against total net revenue of $28,656M (net interest income $16,649M + noninterest income $11,891M) = about 58.10% of revenue - far above the 5% non-compliant income ceiling. On a gross basis, Zoya's parse of U.S. Bancorp's FY2025 annual report records interest income of $30,970,000,000 on gross revenue of $42,861,000,000 = 72.26% - the failure is even harder. Either measure fails. Gate 3 fails. Facts only.

Key figures used

Frequently asked questions

What does U.S. Bancorp do?

U.S. Bancorp (NYSE: USB), headquartered in Minneapolis, Minnesota, is a financial services holding company and one of the largest regional banks in the United States. Per its Form 10-K for the fiscal year ended December 31, 2025 (FY2025 figures from U.S. Bank's 2025 Annual Report financials section, part of the 10-K filing; CIK 36104): business lines include retail and commercial banking, credit cards, mortgages, payment services, trust, wealth management, and capital markets services. Segments: Consumer and Business Banking, Payment Services, Corporate and Commercial Banking, Wealth Management and Investment Services. Branch footprint in 26 states (mostly Midwestern and Western markets); ~68,520 employees; total assets of $692,345M at Dec 31, 2025. Its common stock trades on the New York Stock Exchange (ticker USB). FY2025 total net revenue was $28,656M.

Why does U.S. Bancorp fail this Shariah stock screen?

U.S. Bancorp fails all three gates of this Shariah stock screen. Gate 1 (business activity): conventional banking (retail and commercial lending, deposit-taking, payments, wealth management, capital markets) is the core business - conventional finance is a core non-compliant segment under AAOIFI-based screens, the same treatment as the banks screened earlier in this pipeline (Banco Santander, SMFG, BBVA, Mizuho, BNY). Gate 2 (debt): total liabilities of about $626,690M are about 682.9% of its ~$91.77B market cap (October 2026), far above the ~33% ceiling. Gate 3 (non-compliant income): net interest income of $16,649M is about 58.10% of FY2025 total net revenue ($28,656M) - gross interest income is $30,970M (72.26% per Zoya's parse of the annual report) - far above the 5% ceiling. Result: FAIL. This is a factual screen, not a religious ruling - consult a qualified scholar for personal rulings.

What is U.S. Bancorp's interest-bearing debt ratio?

Per U.S. Bancorp's Form 10-K for the fiscal year ended December 31, 2025 (FY2025 figures from the 2025 Annual Report financials, part of the 10-K filing; CIK 36104; $ millions), total liabilities at December 31, 2025 were about $626,690M (TipRanks independently reports $626,690M; cross-check: total assets $692,345M - shareholders' equity $65,193M = $627,152M - consistent). Against a market cap of about $91.77B ($57.36 per share, Finnhub, October 2026; sanity check: 1,558M average diluted common shares x $57.36 = about $89.38B - within ~3%), liabilities / market cap is about 682.9% - far above the ~33% ceiling. Long-term debt alone (~$77.9B per TipRanks) would be ~85% of market cap - fails on its own. Cash and short-term investments of about $137,730M (TipRanks Q4 2025) is about 150.1% of market cap - above the 33% ceiling (treat the cash figure as indicative, not filed). Gate 2 fails. Facts only.

How much interest income does U.S. Bancorp earn?

Per U.S. Bancorp's Form 10-K for the fiscal year ended December 31, 2025 (FY2025 figures from the 2025 Annual Report financials, part of the 10-K filing; $ millions), net interest income was $16,649M (taxable-equivalent basis $16,765M; net interest margin 2.72%) against total net revenue of $28,656M (net interest income $16,649M + noninterest income $11,891M) = about 58.10% of revenue - far above the 5% non-compliant income ceiling. On a gross basis, Zoya's parse of U.S. Bancorp's FY2025 annual report records interest income of $30,970,000,000 on gross revenue of $42,861,000,000 = 72.26% - the failure is even harder. Either measure fails. Gate 3 fails. Facts only.

Do Zoya, Musaffa, or ShariaPortfolio cover U.S. Bancorp?

Zoya covers U.S. Bancorp at zoya.finance/stocks/usb, but its auto-generated FAQ text is garbled/contradictory (renders 'USB is not Shariah-compliant and therefore considered halal to invest in' AND 'not Shariah-compliant and therefore not considered halal to invest in' fragments simultaneously) - no clean Zoya rating can be quoted, and none is quoted here. The consistent headline wording across fragments is 'not Shariah-compliant.' Useful fact: Zoya's data fields report FY2025 revenue $42,861,000,000 and interest income $30,970,000,000 (72.26% of combined total). Musaffa: no USB stock page found in web searches (only a different company, MSVB) - honestly reported as no coverage found, not invented. ShariaPortfolio: no USB stock page found in web searches (only BY/Byline Bancorp) - 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).