Cosan S.A.

CSAN: Is Cosan S.A. Halal?

Cosan S.A.

NYSEEnergyBR

$3.15

+4.30%

Market Cap: 3.1B

Compliance Status

Not Halal

Screened on Jul 18, 2026 · AAOIFI Standard 21

F

Non-Compliant

0Score

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

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%.

2288.9% of 30.0% limit

What this means for you

Most scholars advise not holding CSAN

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About Cosan S.A.

Cosan S.A. engages in the fuel distribution business. It operates through Raízen, Compass, Moove, Rumo, and Radar segments. The company's Raízen segment engages in the production, marketing, origination, and trading of sugar, as well as ethanol; production and marketing of bioenergy, and solar energy and biogas; trading and resale of electricity; and trading and marketing of fossil, renewable fuels, and lubricants under the Shell brand. Its Compass segment distributes piped natural gas to industrial, residential, commercial, automotive, and cogeneration customers; and marketing of natural gas. The company's Moove segment produces, formulates, and distributes lubricants, base oils, and specialties under the Mobil brand and various proprietary brands for industrial, commercial, and passenger vehicles. Its Rumo segment provides logistics services for rail transportation, storage, and port loading of commodities, including grains and sugar; locomotive and railcar leasing; and rail equipment and container operations. The company's Radar segment manages agricultural property. The company operates in Brazil, England, France, Spain, Portugal, Argentina, Bolivia, Uruguay, Paraguay, Singapore, United Arab Emirates, Oceania, the United States, Latin America, Europe, Asia, and internationally. Cosan S.A. was founded in 1936 and is headquartered in São Paulo, Brazil.

Sector: Energy · Industry: Oil & Gas Refining & Marketing

Shariah Compliance Status

AAOIFI Standard 21Updated Jul 18, 2026

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.

Fiscal: FY 2025Data source: FMP

Halal Alternatives in Energy

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

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Frequently Asked Questions

Is Cosan S.A. (CSAN) halal to invest in?
Cosan S.A. (CSAN) 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 Cosan S.A. get a F compliance rating?
Cosan S.A. (CSAN) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 2288.9% (limit 30%); interest-bearing deposits of 977.6% (limit 30%); prohibited income of 8.00% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.
What could change Cosan S.A.'s Shariah verdict?
Cosan S.A.'s verdict is re-evaluated at each annual re-screen. 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 Cosan S.A. re-screened for Shariah compliance?
Cosan S.A. (CSAN) is re-screened annually using the most recent full-year financial data from SEC filings. HalalScreener also triggers an on-demand re-screen whenever the stored data is more than 7 days old, ensuring the ratios reflect the latest available financial statements. Last screened: Jul 18, 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.