Is NOVONIX Ltd (NVX) stock halal?
Between 30% and one third of total assets: admitted at the one-third threshold, not at the 30% threshold.
This verdict follows the median view, that of AAOIFI Standard No. 21. It is based on the financial statements for the fiscal year ended 12/31/2025.
The ratios
| Criterion | Measure | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 33.2% of total assets | 30% | threshold exceeded |
| Interest-bearing investments | 28.2% of total assets | 30% | within threshold |
| Impermissible income | not published | 5% | to be verified |
Standard: Total assets, 30% threshold.
Margin to threshold and trend
| Item | Ratio (fiscal year end) | Threshold (Total assets, 30% threshold) | Margin | Change since year end | Estimated ratio |
|---|---|---|---|---|---|
| Interest-bearing debt | 33.2% | 30% | −3.2% | not read | — |
| Interest-bearing investments | 28.2% | 30% | 1.8% | not read | — |
No quarterly financial statements after fiscal year end, or inconsistent reading: the change is not shown. "On watch" flags a permitted company whose estimated ratio reaches the threshold, or is within 5 points of the threshold and rising. This is neither a forecast nor advice.
The three views
- Median view, our reference : the company is excluded.
- Strictest view : the company is excluded, because it borrows or invests at interest.
- Most lenient view : the company is admitted (Total assets, one-third threshold).
Business activity
Miscellaneous Electrical Machinery, Equipment & Supplies (SIC code 3690)
Financial statements read
Fiscal year ended 12/31/2025, in millions of dollars. Source: SEC EDGAR: annual reports of NOVONIX Ltd.
What could not be verified
- Valeur de marché : non déclarée dans ce type de rapport, donc ratio AAOIFI non calculé ; la tolérance est jugée sur le total des actifs.
- Interest received: amount not isolated in the filed financial statements.
- Activity classified from the SEC sector code, without reading the annual report.
- Figures read automatically and not reviewed by a human.
Status history
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General information: neither investment advice nor a fatwa. Verdict calculated by published rules, from financial statements read automatically and not reviewed by a human. Read the methodology