Compliance Status
Not Halal
Screened on Oct 14, 2026 · AAOIFI Standard 21
Non-Compliant
Is CMS Energy Corporation (CMS) halal? Not Halal. Based on AAOIFI screening, CMS Energy 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 CMS Energy Corporation (CMS) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Oct 14, 2026. Source: https://halalscreener.app/en/stock/CMS
Business activity
What the company sells is permissible.
Company debt
Over the limitHow much the company borrows, compared to its total value. AAOIFI allows up to 30%.
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.
Screened according to AAOIFI Standard 21
What this means for you
Most scholars advise not holding CMS
It does not pass AAOIFI Shariah screening.
See halal alternatives from the same sector further down this page
CMS: Is CMS Energy Corporation Halal?
CMS Energy Corporation
$68.70
Market Cap: 21.5B
Get an email if CMS's halal status changes
We re-screen CMS Energy Corporation daily. If the verdict moves, you hear about it the same day.
Free. One click sets it up, and you can unsubscribe any time.
About CMS Energy Corporation
CMS Energy Corporation operates as an energy company primarily in Michigan. The company operates through three segments: Electric Utility; Gas Utility; and NorthStar Clean Energy. The Electric Utility segment is involved in the generation, purchase, distribution, and sale of electricity. This segment generates electricity through coal, wind, gas, renewable energy, oil, and nuclear sources. Its distribution system comprises 263 miles of high-voltage distribution overhead lines; 4 miles of high-voltage distribution underground lines; 4,619 miles of high-voltage distribution overhead lines; 18 miles of high-voltage distribution underground lines; 82,854 miles of electric distribution overhead lines; 10,027 miles of underground distribution lines; and 1,102 substations. The Gas Utility segment engages in the purchase, transmission, storage, distribution, and sale of natural gas, which includes 2,337 miles of transmission lines; 14 gas storage fields; 28,433 miles of distribution mains; and 8 compressor stations. The NorthStar Clean Energy segment is involved in the independent power production and marketing, including the development and operation of renewable generation. The company serves 1.9 million electric and 1.8 million gas customers, including residential, commercial, and diversified industrial customers. The company was incorporated in 1987 and is headquartered in Jackson, Michigan.
Sector: Utilities · Industry: Regulated Electric
Why this does not pass
- Interest-bearing debt is 90.8% 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
See which ratio caused the failure.
See the exact debt ratio, interest income %, and prohibited revenue that caused the failure. Know before you sell or hold.
AI Compliance Insight
PROInstitutional-grade Shariah analysis
See why CMS is rated Not Halal with institutional-grade analysis
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.
Screened according to AAOIFI Standard 21
Compliance History
Not Halal, unchanged since May 2026.
No status changes recorded since we began tracking.
Tracked since May 2026. Updates automatically on each re-screen.
Halal Alternatives in Utilities
This stock is not Shariah-compliant. Here are halal alternatives from the same sector, ranked by compliance score:
More Utilities Stocks
Know the day CMS's verdict changes
A free account keeps watch on 3 stocks and emails you when a verdict moves. You also get 3 questions for the AI Scholar. No card needed.
Frequently Asked Questions
Is CMS Energy Corporation (CMS) halal to invest in?
Why did CMS Energy Corporation get a F compliance rating?
What could change CMS Energy Corporation's Shariah verdict?
How often is CMS Energy Corporation re-screened for Shariah compliance?
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.