Is Pfizer Inc. (PFE) stock halal?

Pfizer Inc. is conditional under our screen — one or more lines need filing-level verification before treating it as clearly halal or not halal.

Does Pfizer Inc. pass the AAOIFI financial ratio screen?

As of 2026-03-29: interest-bearing debt is 43.0% of market cap (limit < 30%); cash plus interest-bearing securities is 8.7% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page.

Is Pfizer Inc. held in halal ETFs like SPUS or HLAL?

Yes — as of our last check, Pfizer Inc. is held by HLAL. ETF inclusion confirms it passed those funds' Shariah screens at the holdings date cited in the sources below.

Is Pfizer Stock Halal? Pfizer Inc. (PFE) passes the screens we can compute (data as of 2026-03-29) — cash + interest-bearing securities / market cap 8.7%, impermissible income / total revenue 1.0% — but one screen requires case-by-case judgment. It is independently held by Shariah-screened ETF HLAL, confirming it passes professional screens. Reviewed 2026-06-14. Published by HalalWallet.

Is Pfizer Stock Halal?

Q: Is Pfizer Stock Halal?

Halal screening authorities disagree on Pfizer Inc.: doubtful (HalalWallet (AAOIFI)); halal (Wahed (HLAL ETF)). Conditional: Pfizer Inc. (PFE) passes the screens we can compute (data as of 2026-03-29) — cash + interest-bearing securities / market cap 8.7%, impermissible income / total revenue 1.0% — but one screen requires case-by-case judgment. It is independently held by Shariah-screened ETF HLAL, confirming it passes professional screens. (Financial data as of 2026-03-29; basis: AAOIFI Shariah standards.)

Q: Is Pfizer Inc. held in halal ETFs like SPUS or HLAL?

Yes — as of our last check, Pfizer Inc. is held by HLAL. ETF inclusion confirms it passed those funds' Shariah screens at the holdings date cited in the sources below.

Pfizer Inc. · PFE · NYSE

ConditionalPermissible with conditions2 authorities — split

Halal screening authorities disagree on Pfizer Inc.: doubtful (HalalWallet (AAOIFI)); halal (Wahed (HLAL ETF)).

Pfizer Inc. (PFE) passes the screens we can compute (data as of 2026-03-29) — cash + interest-bearing securities / market cap 8.7%, impermissible income / total revenue 1.0% — but one screen requires case-by-case judgment. It is independently held by Shariah-screened ETF HLAL, confirming it passes professional screens.

Financial data as of 2026-03-29 · Screening basis: AAOIFI · Last reviewed 2026-06-14

HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide.

Do the halal screening authorities agree?

Authorities disagree2 of 5 authorities with a published position

HalalWallet (AAOIFI)· Doubtful
Wahed (HLAL ETF)· Halal

Halal screening authorities disagree on Pfizer Inc.: doubtful (HalalWallet (AAOIFI)); halal (Wahed (HLAL ETF)).

Stances are normalized from each authority's own dated public position. Disagreement usually reflects a methodology or standard difference (ratio timing, market-cap vs total-assets denominator), not an error. For the fund screens (Wahed/HLAL, SP Funds/SPUS), only a confirmed holding that passed the fund's screen counts as a pass — a non-holding is left blank because absence can reflect index scope.

Is Pfizer Stock Halal?

Halal screening authorities disagree on Pfizer Inc.: doubtful (HalalWallet (AAOIFI)); halal (Wahed (HLAL ETF)). Pfizer Inc. (PFE) passes the screens we can compute (data as of 2026-03-29) — cash + interest-bearing securities / market cap 8.7%, impermissible income / total revenue 1.0% — but one screen requires case-by-case judgment. It is independently held by Shariah-screened ETF HLAL, confirming it passes professional screens.

Interest-bearing debt / market cap: 43.0% (< 30%) — Fail
Cash + interest-bearing securities / market cap: 8.7% (< 30%) — Pass
Impermissible income / total revenue: 1.0% (< 5%) — Pass
Mainstream Shariah standards disagree on this company — see the cross-standard table below.
Financial ratios sourced from filings as of 2026-03-29.

How we read the evidence

HalalWallet's editorial synthesis of the screens, scholar positions, and sources documented on this page — not a religious ruling.

Pfizer's underlying business, discovering and selling medicines and vaccines, is permissible, and it does not earn interest from lending. Its FY2025 revenue of $62,579 million is almost entirely product sales ($51,663 million) plus alliance and royalty income from its drug portfolio. On the activity screen, pharma is clean. The screening question for Pfizer is leverage.

After buying cancer-drug maker Seagen for roughly $43 billion in 2023, Pfizer took on a large amount of debt, and it is still working that down. At year-end 2025 it carried about $64.8 billion of total debt ($3,154 million short-term plus $61,641 million long-term) against total equity of $86,775 million. That elevated debt is precisely the kind of figure that Shariah financial-ratio screens scrutinize, and different methodologies measure it differently, some against total assets, others against market capitalization.

That difference appears to be why the two major US Shariah ETFs split on Pfizer: HLAL holds it (156,080 shares as of February 28, 2026), while SPUS does not include it as of June 11, 2026, even though Pfizer is in the S&P 500. SPUS's methodology adds a debt-to-market-cap cap of 30%, which a debt-heavy pharma can fail while still passing FTSE's formula. Neither fund publishes its reasoning, so this is the most likely explanation rather than a confirmed one. A Muslim investor should treat Pfizer as a permissible-business name whose compliance currently hinges on the debt ratio, and verify the live status in a screener, since deleveraging could change the answer.

Business Activity Screen

Pass· impermissible revenue ≈ 1% (AAOIFI limit < 5%)

Pfizer Inc. is a research-based biopharmaceutical company that discovers, develops, manufactures, and sells medicines and vaccines through its Biopharma segment. Per its FY2025 10-K, total revenues were $62,579 million (product revenues $51,663 million, alliance revenues $9,266 million, and royalty revenues $1,650 million), and net income attributable to Pfizer was $7,771 million.

Pharmaceutical development and manufacturing is a permissible business activity and is not on AAOIFI's prohibited-industry list; Pfizer has no interest-based lending business. The Shariah-relevant concern is leverage: following its 2023 acquisition of Seagen, Pfizer carries heavy interest-bearing debt. Per the FY2025 balance sheet, short-term borrowings (including current portion of long-term debt) were $3,154 million and long-term debt was $61,641 million (about $64.8 billion total), against total equity of $86,775 million; it held $1,142 million cash plus $12,454 million short-term investments. This debt load is the most plausible reason Pfizer is held by HLAL but not by SPUS, whose methodology additionally requires debt-to-market-cap below 30% (the funds do not publish per-stock reasons, so this is inferred, not confirmed).

Financial Ratio Screen

Screen	Value	AAOIFI limit	Result
Interest-bearing debt / market cap	43.0%	< 30%	Fail
Cash + interest-bearing securities / market cap	8.7%	< 30%	Pass
Impermissible income / total revenueInterest income only — verify other impermissible revenue lines in the 10-K	1.0%	< 5%	Pass

Spot market cap at research date (consider trailing average for borderline names). Data as of 2026-03-29 · thresholds per AAOIFI Shariah standards.

This verdict uses the AAOIFI standard — the most widely used and, at a 30% debt limit, the most conservative mainstream Shariah standard. Interest-bearing debt and interest-bearing securities each stay under 30% of market cap, and impermissible income under 5% of revenue. Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets, so a borderline company can be rated differently by each. How we screen & why screeners disagree →

How Pfizer screens across Shariah standards

The standards disagree on this company. It passes some Shariah screens and fails others — which is exactly why you may see a different answer in different apps. Our headline verdict uses AAOIFI, the strictest and most widely cited mainstream standard.

Standard	Debt	Cash & interest securities	Limit / basis	Result
AAOIFI (our standard)	43.0%	8.7%	< 30% of market cap	Fail
Dow Jones Islamic / S&P Shariah thresholdDow Jones and S&P apply this limit against a trailing 24–36-month average market cap; shown here on the same point-in-time market cap for comparison.	43.0%	8.7%	< 33% of market cap	Fail
MSCI Islamic / FTSE Yasaar basisTotal-assets denominator. MSCI/FTSE also apply entry/exit buffers and a receivables screen we do not reproduce.	31.0%	6.3%	< 33.33% of total assets	Pass

HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-03-29) — not the providers' licensed index determinations, which can differ. Debt is interest-bearing borrowings (operating leases excluded). The impermissible-income screen (< 5% of revenue) is common to all of these standards and is shown in the ratio table above. Dow Jones and S&P apply their limit against a trailing 24–36-month average market cap; MSCI and FTSE add entry/exit buffers and a receivables screen. Full methodology →

These companies pass under some mainstream standards and fail under others — the same pattern as this verdict. That is why two apps can show different answers.

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