Is The Coca-Cola Company (KO) stock halal?

The Coca-Cola Company is conditional under our screen — one or more lines need filing-level verification before treating it as clearly halal or not halal.

Does The Coca-Cola Company pass the AAOIFI financial ratio screen?

As of 2026-04-03: interest-bearing debt is 12.2% of market cap (limit < 30%); cash plus interest-bearing securities is 3.1% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page.

Is The Coca-Cola Company held in halal ETFs like SPUS or HLAL?

No — as of our last check, The Coca-Cola Company is not held by SPUS or HLAL. Absence can reflect a failed screen or index scope — verify current holdings before citing.

Is The Coca-Cola Stock Halal? The Coca-Cola Company (KO) passes the screens we can compute (data as of 2026-04-03) — interest-bearing debt / market cap 12.2%, cash + interest-bearing securities / market cap 3.1%, impermissible income / total revenue 1.6% — but one screen requires case-by-case judgment. It is not held by Shariah-screened ETFs SPUS or HLAL. Reviewed 2026-06-14. Published by HalalWallet.

Is The Coca-Cola Stock Halal?

Q: Is The Coca-Cola Stock Halal?

Conditional: The Coca-Cola Company (KO) passes the screens we can compute (data as of 2026-04-03) — interest-bearing debt / market cap 12.2%, cash + interest-bearing securities / market cap 3.1%, impermissible income / total revenue 1.6% — but one screen requires case-by-case judgment. It is not held by Shariah-screened ETFs SPUS or HLAL. (Financial data as of 2026-04-03; basis: AAOIFI Shariah standards.)

Q: Is The Coca-Cola Company held in halal ETFs like SPUS or HLAL?

No — as of our last check, The Coca-Cola Company is not held by SPUS or HLAL. Absence can reflect a failed screen or index scope — verify current holdings before citing.

The Coca-Cola Company · KO · NYSE

ConditionalPermissible with conditions

The Coca-Cola Company (KO) passes the screens we can compute (data as of 2026-04-03) — interest-bearing debt / market cap 12.2%, cash + interest-bearing securities / market cap 3.1%, impermissible income / total revenue 1.6% — but one screen requires case-by-case judgment. It is not held by Shariah-screened ETFs SPUS or HLAL.

Financial data as of 2026-04-03 · 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?

Single published source1 of 5 authorities with a published position

HalalWallet (AAOIFI)· Doubtful

HalalWallet (AAOIFI) rates The Coca-Cola Company doubtful; no other recognized authority has a published position.

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 The Coca-Cola Stock Halal?

Interest-bearing debt / market cap: 12.2% (< 30%) — Pass
Cash + interest-bearing securities / market cap: 3.1% (< 30%) — Pass
Impermissible income / total revenue: 1.6% (< 5%) — Pass
Mainstream Shariah standards disagree on this company — see the cross-standard table below.
Financial ratios sourced from filings as of 2026-04-03.

How we read the evidence

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

Coca-Cola is a nonalcoholic-beverage business, and on the surface that is a clean profile for Shariah screening: its fiscal 2025 net operating revenues of $47.9 billion come from selling concentrates and finished soft drinks, juices, water, and coffee across five geographic operating segments. There is no large prohibited-industry revenue line in the core business, so for most screeners the question turns to financial ratios such as leverage and the share of interest-bearing investment income.

The nuance a careful Muslim investor should know is that Coca-Cola has pushed into alcohol ready-to-drink products through licensing and joint ventures, including Topo Chico Hard Seltzer, the Jack Daniel's & Coca-Cola canned cocktail with Brown-Forman, and Simply Spiked. The company does not break out the revenue from these alcoholic products, so their share cannot be measured from the filings; it appears small relative to the total, which is the range where some scholars permit holding the stock with purification of the corresponding portion of dividends.

An honest data point is that Coca-Cola is in the S&P 500 but is not held by SPUS as of June 11, 2026, even though its close peer PepsiCo is. SPUS does not disclose stock-level reasons, so it cannot be said whether the exclusion is driven by the alcohol RTD activity, a financial-ratio threshold, or index mechanics. Coca-Cola is also absent from HLAL, which tracks the FTSE USA Shariah index. Investors should treat the screen status as methodology-dependent and confirm it in a live screener before acting.

Business Activity Screen

Pass· impermissible revenue ≈ 1.6% (AAOIFI limit < 5%)

The Coca-Cola Company is the world's largest nonalcoholic beverage company, selling concentrates, syrups, and finished sparkling and still beverages. Per its fiscal 2025 results (year ended December 31, 2025; 10-K filed February 20, 2026), consolidated net operating revenues were $47,941 million, reported across operating segments: North America $19,586M, EMEA $11,513M, Latin America $6,334M, Asia Pacific $5,638M, and Bottling Investments $5,735M (Corporate $144M, eliminations $(1,009)M).

Coca-Cola's core business is nonalcoholic beverages, a permissible activity. The Shariah-relevant nuance is the company's expansion into alcohol ready-to-drink products through licensing and joint ventures (for example Topo Chico Hard Seltzer, Jack Daniel's & Coca-Cola in partnership with Brown-Forman, and Simply Spiked); the revenue from these alcoholic offerings is not separately disclosed in the company's segment reporting, so its size cannot be quantified from filings. Coca-Cola also earns interest and investment income on its cash and equity-method bottling investments, reported outside operating revenue and not separately verified here. Notably, although Coca-Cola is an S&P 500 constituent, it is absent from the SPUS holdings as of 2026-06-11 while peer PepsiCo is included; SPUS does not publish the reason, so it cannot be stated whether the exclusion reflects the alcohol RTD activity, a financial-ratio screen, or other criteria.

Financial Ratio Screen

Screen	Value	AAOIFI limit	Result
Interest-bearing debt / market cap	12.2%	< 30%	Pass
Cash + interest-bearing securities / market cap	3.1%	< 30%	Pass
Impermissible income / total revenueInterest income only — verify other impermissible revenue lines in the 10-K	1.6%	< 5%	Pass

Spot market cap at research date (consider trailing average for borderline names). Data as of 2026-04-03 · 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 The Coca-Cola 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)	12.2%	3.1%	< 30% of market cap	Pass
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.	12.2%	3.1%	< 33% of market cap	Pass
MSCI Islamic / FTSE Yasaar basisTotal-assets denominator. MSCI/FTSE also apply entry/exit buffers and a receivables screen we do not reproduce.	42.1%	10.6%	< 33.33% of total assets	Fail

HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-04-03) — 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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