Annotated balance sheet · halal screening

Space Exploration Technologies Corp.

The full balance sheet for SPCX, with the line items that feed each halal check marked and explained inline. Read it like a financial report that grades itself.

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Annotated balance sheet · halal screening

Space Exploration Technologies Corp. — Q1 2026

Source: SEC Form 10-Q filed 2026-03-31 · via FMP · USD millions · Open filing

Assets

Current Assets

Cash & cash equivalents①

$15,852

Marketable securities①

$7,823

Accounts receivable

$1,833

Inventories

$2,588

Other current assets

$1,636

Total current assets

$29,732

Non-current Assets

Property, plant & equipment, net②tangible

$55,061

Operating lease right-of-use assets②tangible

Long-term marketable securities①

Goodwill

$11,681

Intangible assets, net

$1,432

Other non-current assets

$3,975

Total non-current assets

$72,149

TOTAL ASSETS

$102,094

CHECK ①

Cash + Securities Ratio

under AAOIFI

1.0%

✓ PASS

Threshold≤ 30%Buffer29.0 percentage points to spare

Breach risk

Comfortable

0%← Pass zone | Fail zone →45%

Caps how much of a company's value can be held in interest-bearing financial assets — too much suggests the business is more about earning interest than producing real goods/services.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.5.1

Liabilities

Current Liabilities

Accounts payable

$10,002

Other current liabilities

Deferred revenue

$7,207

Commercial paper③interest-bearing

Short-term debt③interest-bearing

$1,538

Total current liabilities

$18,747

Non-current Liabilities

Long-term debt③interest-bearing

$28,727

Other non-current liabilities

$1,320

Total non-current liabilities

$30,047

TOTAL LIABILITIES

$60,512

CHECK ③

Interest-bearing Debt Ratio

under AAOIFI

1.3%

✓ PASS

Threshold≤ 30%Buffer28.7 percentage points to spare

Breach risk

Comfortable

0%← Pass zone | Fail zone →45%

Caps how much of a company's value comes from interest-bearing loans. Companies that rely heavily on riba (interest-based debt) fail this check even if their business itself is permissible.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.4.2

Income Statement Excerpt (trailing 12 months)

Total revenue

$8,761

Of which:

Product & services revenue

$8,761

Interest income④non-permissible

$330

CHECK ④

Non-permissible Income Ratio

under AAOIFI

3.8%

✓ PASS

Threshold≤ 5%Buffer1.2 percentage points to spare

Breach risk

Stable

0%← Pass zone | Fail zone →8%

Caps what fraction of company revenue can come from non-permissible sources. If your stock passes but interest income is high, you'd 'purify' your share of that income through charity.

SourceAAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds), §3.6

Final verdict — under AAOIFI Standard

Not halal

Sector check passes: ✗ no

Want to verify against the primary document? Open full SEC filing

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