Is ENR (Energizer Holdings, Inc.) Halal or Haram?

Based on our AAOIFI-standard shariah screening, ENR is classified as Doubtful. It passed 3 of 4 compliance screens. Some scholars may permit investing with income purification, while others advise avoiding it. We recommend consulting a qualified Islamic scholar before investing in ENR.

Energizer Holdings is a global leader in household power and portable lighting, best known for its iconic Energizer and Eveready battery brands. The company manufactures a wide array of power solutions, including alkaline, lithium, and rechargeable batteries, alongside specialty hearing aid batteries and lighting products like headlights and lanterns. With a portfolio that includes Rayovac and Varta, Energizer remains a dominant force in the consumer electronics consumables market. For Muslim investors, Energizer presents a classic case of a permissible business model burdened by imper missible financing. Although the company passes the business activity screen because selling batteries is Halal, the stock is currently flagged as ' Doubtful' or non-compliant due to its financial ratios. Specifically, it fails the debt screening significantly, meaning the company relies heavily on interest-bearing loans to fund its operations. From a financial perspective, the primary red flag is the Debt-to-Market Cap ratio, which sits at an alarming 227.9%, well above the AA OIFI threshold of 33%. While the company's interest income is negligible at just 0.11% of revenue—showing they aren't earning money from haram sources—their heavy borrowing makes the stock unsuitable for strict Shariah portfolios at this time. Investors looking for exposure to consumer staples should look for competitors with cleaner balance sheets. Investors holding this stock should be aware that unless Energizer significantly deleverages or its market capitalization expands drastically to dilute the debt ratio, it will likely remain outside the investable universe for Shariah-conscious funds. Monitoring the company's quarterly debt reduction efforts is essential for anyone hoping to see this status change in the future. Energizer Holdings, Inc. operates in the Industrials sector under the Electrical Equipment & Parts industry and is headquartered in Saint Louis, MO, US. The company is led by CEO Mark S. LaVigne and employs approximately 5,600 people.

ENR 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. ENR passed 3 of these 4 screens.

ENR was last screened on 2026-02-24. 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.