Chevron Corporation, through its subsidiaries, engages in the integrated energy and chemicals operations in the United States and internationally. The stock trades as (US: CVX). The company carries a market capitalisation of roughly $373.2 billion and sits in the Energy sector. For Muslim investors asking “is Chevron halal?” or “is CVX halal?”, the answer comes from testing the company against established Shariah screening rules. Here are the workings.
What We Screen For
Our screen applies two layers. First, a business activity test: companies whose core operations are impermissible (conventional banking and insurance, alcohol, gambling, tobacco, weapons, adult entertainment) fail outright. Second, four financial ratio tests built on widely adopted AAOIFI-style thresholds:
- Debt screen: interest-bearing debt must stay below 33% of market capitalisation.
- Liquidity screen: cash plus interest-bearing securities must stay below 33% of market capitalisation.
- Receivables screen: accounts receivable must stay below 49% of total assets.
- Revenue screen: non-permissible revenue must stay below 5% of total revenue.
The Numbers
| Screening Test | CVX Figure | Limit | Status |
|---|---|---|---|
| Business activity | Core operations reviewed | No prohibited core activity | ✓ Pass |
| Interest-bearing debt to market capitalisation | 12.58% | Below 33% | ✓ Pass |
| Cash and interest-bearing securities | 13.54% | Below 33% | ✓ Pass |
| Accounts receivable to total assets | 7.52% | Below 49% | ✓ Pass |
| Non-permissible revenue share | 0.00% | Below 5% | ✓ Pass |
| Overall verdict | PASS | Ethical score 88.2/100 | ✓ Pass |
Detailed Assessment
Chevron clears the business activity test: no prohibited business activity identified.
Interest-bearing debt stands at 12.58% of market capitalisation, comfortably below the 33% limit. A clean reading on the most-watched screen.
Cash and interest-bearing securities sit at 13.54% against the 33% limit, and accounts receivable at 7.52% against the 49% limit. Together these confirm the asset base is productive rather than a wrapper around cash and paper claims.
Non-permissible revenue is measured at 0.00% of total revenue against the 5% ceiling.
Key Considerations
A quantitative PASS is not a blanket endorsement. Some scholars apply additional qualitative overlays, and ratios move with every reporting period; a company near a threshold can cross it on the next filing. Where a small share of revenue is non-permissible, most methodologies require purification of the corresponding portion of any dividend received.
On valuation, the shares trade at $187.38, above our conservative fair value estimate of $153.00. Compliance and valuation are separate questions; a compliant stock can still be expensive.
Screening data reflects filings available as of 2026-07-19.
Quick Answers
Is Chevron stock halal?
Under our screen, Chevron (CVX) receives a PASS verdict as of July 2026. It passes the business activity test and all four financial ratio screens.
What ratios does CVX need to pass?
Interest-bearing debt below 33% of market capitalisation, cash and interest-bearing securities below 33%, receivables below 49% of assets, and non-permissible revenue below 5% of total revenue, after a business activity test.
Is Chevron on a boycott list?
Yes. Chevron appears on: BDS Movement. This is disclosed separately from the financial screen.
Further Research
View the full Chevron profile, including quantitative scores and technical analysis, on our CVX ticker page.
Screen the full 13,700-name universe yourself on the Ethical Trading hub, or compare verdicts across the market with our screeners.