Is CF (CF Industries Holdings, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, CF is Halal and considered permissible for Muslim investors. It passed all 4 of 4 compliance screens including business activity review, debt-to-market-cap ratio (20.83% vs ≤33% threshold), interest income ratio (1.14% vs ≤5% threshold), and cash & securities ratio (10.46% vs ≤33% threshold).

CF Industries Holdings, Inc. is a leading global manufacturer of hydrogen and nitrogen products primarily used in agricultural fertilizers and emissions abatement. Its core products include anhydrous ammonia, granular urea, and diesel exhaust fluid, serving agricultural cooperatives, independent distributors, and industrial users worldwide. For Muslim investors, CF represents a solid Shariah-compliant option in the basic materials sector. The stock successfully passes all four AAOIFI screening criteria, meaning both its core agricultural business activities and its capital structures align with Islamic finance principles. From an Islamic finance perspective, CF demonstrates strong financial discipline with a debt-to-market cap ratio of just 20.8%, minimizing reliance on interest-bearing leverage. Additionally, its interest income is negligible at 1.14% of total revenue, ensuring that impermissible earnings remain well below the strict 5% threshold. While the core business of agricultural inputs is universally accepted as halal, Muslim investors should continue to monitor the company's debt levels and interest-bearing cash reserves in future quarterly reports to ensure ongoing compliance. CF Industries Holdings, Inc. operates in the Basic Materials sector under the Agricultural Inputs industry and is headquartered in Northbrook, IL, US. The company is led by CEO Christopher D. Bohn and employs approximately 2,800 people.

CF was screened using AAOIFI-based shariah compliance criteria. Four tests are applied: (1) Business Activity — the company's core business must not derive primary income from haram (prohibited) activities such as alcohol, gambling, tobacco, or interest-based finance. (2) Debt-to-Market-Cap — total debt must not exceed 33% of market capitalization. (3) Interest Income — interest income must not exceed 5% of total revenue. (4) Cash & Securities — cash and interest-bearing securities must not exceed 33% of market cap. CF passed 4 of these 4 screens.

Although CF passes all shariah screens, it does earn $81.0M in interest income (1.14% of revenue). Many scholars recommend purifying this portion by donating the equivalent percentage of any dividends received to charity. For example, if you receive $100 in dividends, you would donate approximately $1.14 to purify the income.

CF was last screened on 2026-04-29. Shariah compliance status can change as companies report new financial data, acquire new businesses, or shift revenue streams. We recommend checking back periodically for the most up-to-date screening results.