What is Fervo Energy Company's Shariah compliance score?

Fervo Energy Company (FRVO) 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 Fervo Energy Company pass AAOIFI screening?

Fervo Energy Company (FRVO) 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%. FRVO's debt-to-market-cap is 5.8%.

How much purification is needed for Fervo Energy Company?

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 Fervo Energy Company (FRVO) using the latest financial data.

Where can I screen Fervo Energy Company for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for Fervo Energy Company (FRVO) 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.

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FRVO: Is Fervo Energy Company Halal?

Fervo Energy Company

NASDAQUtilitiesUS

$14.45

Market Cap: 4.1B

Compliance Status

Not Halal

Screened on Sep 30, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

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

Quote this verdict

HalalScreener rates Fervo Energy Company (FRVO) Not Halal, 0/100, grade F under AAOIFI Standard 21, screened Sep 30, 2026. Source: https://halalscreener.app/en/stock/FRVO

AvoidBorderlineClean

Business activity

What the company sells is permissible.

Passed

Company debt

Well clear of the limit

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

5.8% of 30.0% limit

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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 FRVO

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

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About Fervo Energy Company

Fervo Energy Company, a geothermal energy developer, builds, owns, and operates geothermal power facilities. The company's product incorporates horizontal drilling and distributed fiber optic sensing that increase the productivity and lifetime of geothermal wells. The company employs precision directional drilling technology to drill horizontally in geothermal reservoirs and develops a data analytics algorithm that enables the identification of existing resources and optimizes flow distribution through the reservoir for heat mining efficiency. The company was incorporated in 2017 and is based in Houston, Texas, with an additional location in Berkeley, California.

Sector: Utilities · Industry: Renewable Utilities

Why this does not pass

Interest-bearing deposits are over the 30% 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 Sep 30, 2026

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Institutional-grade Shariah analysis

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See why FRVO is rated Not Halal with institutional-grade analysis

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: Q2 2026Data source: EDGAR

Halal Alternatives in Utilities

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

0011.KLA+

Brite-Tech Bhd

$0.29

+0.04%

3069.KLA+

Mega First Corporation Bhd

$3.00

-0.00%

5041.KLA+

PBA Holdings Bhd

$2.08

+0.00%

5209.KLA+

Gas Malaysia Bhd

$4.85

+0.01%

5264.KLA+

Malakoff Corporation Bhd

$0.78

+0.00%

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American Electric Power Company, Inc.

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Dominion Energy, Inc.

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Frequently Asked Questions

Is Fervo Energy Company (FRVO) halal to invest in?

Fervo Energy Company (FRVO) 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 Fervo Energy Company get a F compliance rating?

Fervo Energy Company (FRVO) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 5.8% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change Fervo Energy Company's Shariah verdict?

Fervo Energy Company'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 Fervo Energy Company re-screened for Shariah compliance?

Fervo Energy Company (FRVO) 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: Sep 30, 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.