What is Clearwater Paper Corporation's Shariah compliance score?

Clearwater Paper Corporation (CLW) has a Shariah compliance score of 0/100 (Grade: F, Non-Compliant). AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%.

Does Clearwater Paper Corporation pass AAOIFI screening?

Clearwater Paper Corporation (CLW) does not pass AAOIFI Shariah screening. AAOIFI Standard No. 21 requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30%, (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. CLW's debt-to-market-cap is 254.1%.

How much purification is needed for Clearwater Paper Corporation?

Muslim investors purify the portion of dividends and realized gains that comes from non-permissible income by donating it to charity. HalalScreener's purification calculator at halalscreener.app/en/purification computes the percentage and amount for Clearwater Paper Corporation (CLW) using the latest financial data.

Where can I screen Clearwater Paper Corporation for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Clearwater Paper Corporation (CLW) and 8,200+ securities. US-listed stocks and ETFs are screened under AAOIFI Standard No. 21. Bursa Malaysia securities carry the Securities Commission Malaysia's official status. Coins are screened separately, under published scholarly opinion. The verdict is free, with no credit card or signup required for basic screening. The compliance grade, score, and debt ratio are free too; the full ratio breakdown is part of Pro.

CLWNot HalalF

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Is Clearwater Paper (CLW) Stock Halal?

Compliance Status

Not Halal

Screened on Nov 13, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is Clearwater Paper Corporation (CLW) halal? Not Halal. Based on AAOIFI screening, Clearwater Paper Corporation passes the business activity screen but fails financial ratio screens with a compliance score of 0/100 (Grade: F).

Quote this verdict

HalalScreener rates Clearwater Paper Corporation (CLW) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Nov 13, 2026. Source: https://halalscreener.app/en/stock/CLW

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Over the limit

How much the company borrows, compared to its total value. AAOIFI allows up to 30%.

254.1% of 30.0% limit

PRO DETAIL

The verdict above is final and free.

Pro members can verify every number behind it: interest-bearing deposits, prohibited income breakdown, and the full AAOIFI math.

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Screened according to AAOIFI Standard 21

What this means for you

Most scholars advise not holding CLW

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

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CLW

Clearwater Paper Corporation

NYSEBasic MaterialsUS

$13.97

+0.50%

Market Cap: 225.5M

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About Clearwater Paper Corporation

Clearwater Paper Corporation is an enterprise engaged in the manufacturing and supply of bleached paperboards, alongside various tissue products for consumers and parent roll applications, serving both the United States and international markets. Its operations are structured into two distinct divisions: Pulp and Paperboard, and Consumer Products. The Pulp and Paperboard segment delivers a diverse portfolio of items, including folding cartons, liquid packaging, cups, plates, materials for blister and carded packaging, top sheet and commercial printing papers, and softwood pulp. This division also provides tailored processing services such as custom sheeting, slitting, and cutting of paperboard. Its primary customers are packaging and folding carton converters, general merchants, and commercial printing firms. The Consumer Products division offers an extensive selection of household paper goods, encompassing bath tissues, paper towels, facial tissues, and napkins. Furthermore, it provides economical recycled fiber products and tissue solutions designed for commercial or institutional (away-from-home) use. This segment distributes its merchandise to a broad network of retailers and wholesale channels, including major grocery chains, club stores, mass market retailers, and discount outlets. Clearwater Paper Corporation was founded in 2005 and maintains its corporate headquarters in Spokane, Washington.

Sector: Basic Materials · Industry: Paper, Lumber & Forest Products

Why this does not pass

Interest-bearing debt is 254.1% of market cap, over the 30% AAOIFI limit.

Screened under AAOIFI Standard 21. The exact figure behind this is part of Pro; the failing check and its limit are always free.

Shariah Compliance Status

AAOIFI Standard 21Updated Nov 13, 2026

AI Compliance InsightProSee plans

Revenue BreakdownProSee plans

Compliance History

Not Halal, unchanged since Aug 2026.

No status changes recorded since we began tracking.

Tracked since Aug 2026. Updates automatically on each re-screen.

Fiscal: Q3 2026Data source: EDGAR

Halal Alternatives in Basic Materials

This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:

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+0.03%

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BMS

$0.14

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Johan Holdings Berhad

$0.03

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Frequently Asked Questions

Is Clearwater Paper Corporation (CLW) halal to invest in?

Clearwater Paper Corporation (CLW) is rated Not Halal under AAOIFI Standard 21 screening. It fails either the business activity screen (primary involvement in prohibited sectors such as conventional banking, alcohol, or gambling) or one of the quantitative financial ratio thresholds. Muslim investors should avoid or exit this position.

Why did Clearwater Paper Corporation get a F compliance rating?

Clearwater Paper Corporation (CLW) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 254.1% (limit 30%); interest-bearing deposits within the 30% limit; prohibited income well clear of the 5% limit. The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Clearwater Paper Corporation's Shariah verdict?

Clearwater Paper Corporation's verdict is recalculated at every re-screen, including the one that follows each new quarterly or annual report. Three events could change it: (1) the debt-to-market-cap ratio crossing 30%, typically from new debt issuance or a major drop in share price; (2) interest-bearing deposits exceeding 30% of market cap; or (3) prohibited revenue (alcohol, gambling, conventional finance, etc.) exceeding 5% of total revenue. Verdict flips are tracked in the compliance history section above.

How often is Clearwater Paper Corporation re-screened for Shariah compliance?

Clearwater Paper Corporation (CLW) is screened from the latest financial statements on record, currently those for fiscal Q3 2026. The 500 largest US-listed companies, and every stock on a HalalScreener watchlist or portfolio, are re-screened daily against the current market cap; every other stock at least once a week. When the company files a new quarterly or annual report with the SEC, it is re-screened from that filing: we check the SEC's filing feed every 15 minutes and the earnings calendar every day. Last screened: Nov 13, 2026.

Screened according to AAOIFI Standard No. 21 · For informational purposes only. Consult a qualified Islamic finance advisor before investing.

Disclaimer: This screening is for informational purposes only and does not constitute financial, legal, or religious advice. Compliance is evaluated using AAOIFI financial standards (debt, deposits, and prohibited income ratios) and publicly available data. Ethical, political, social, or environmental considerations are outside the scope of this screening. Individual scholars and methodologies may differ. Always consult a qualified Islamic finance advisor before making investment decisions.