What is INNOVATE Corp.'s Shariah compliance score?

INNOVATE Corp.'s (VATE) compliance score is being calculated. Check HalalScreener.app for the latest AAOIFI screening results.

Does INNOVATE Corp. pass AAOIFI screening?

INNOVATE Corp. (VATE) does not pass AAOIFI Shariah screening. AAOIFI requires: (1) no primary involvement in prohibited activities like alcohol, gambling, or conventional banking, (2) debt-to-market-cap below 30% (VATE: 75.5%), (3) interest-bearing deposits below 30%, and (4) prohibited income below 5%. HalalScreener provides free AAOIFI screening for 10,000+ stocks at halalscreener.app.

How much purification is needed for INNOVATE Corp. stock?

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 exact percentage and amount for INNOVATE Corp. (VATE) using the latest financial data.

Where can I screen INNOVATE Corp. for Shariah compliance for free?

HalalScreener (halalscreener.app) offers free Shariah compliance screening for INNOVATE Corp. (VATE) and 10,000+ other US-listed stocks, ETFs, and 100+ cryptocurrencies. The screening uses AAOIFI Standard No. 21 and shows the verdict, compliance grade, score, and debt ratio free. No credit card or signup required for basic screening; the full ratio breakdown is part of Pro. HalalScreener also includes an AI Islamic Scholar for follow-up questions about VATE's compliance across different madhabs (Hanafi, Shafi'i, Maliki, Hanbali, Ja'fari).

VATE: Is INNOVATE Corp. Halal?

INNOVATE Corp.

NYSEIndustrialsUS

$7.80

+4.14%

Market Cap: 106.4M

Compliance Status

Not Halal

Screened on Aug 12, 2026 · AAOIFI Standard 21

Non-Compliant

0Score

Is INNOVATE Corp. (VATE) halal? Not Halal. Based on AAOIFI screening, INNOVATE Corp. has involvement in prohibited business activities with a compliance score of 0/100 (Grade: F).

AvoidBorderlineClean

Business activity

Involved in prohibited business activities.

Failed

Company debt

Over the limit

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

75.5% of 30.0% limit

What this means for you

Most scholars advise not holding VATE

It does not pass AAOIFI Shariah screening.

See halal alternatives from the same sector further down this page

About INNOVATE Corp.

INNOVATE Corp. (VATE), a New York-based entity founded in 1994 and previously known as HC2 Holdings, Inc. until its name change in September 2021, manages a diverse range of subsidiaries operating within the infrastructure, life sciences, and spectrum sectors across the United States. Its extensive infrastructure division delivers services such as industrial construction, structural steel work, and facility maintenance. These capabilities are applied to a wide array of projects, including commercial structures like office complexes, hotels, casinos, convention centers, sports arenas, shopping malls, and hospitals, as well as significant industrial and civic infrastructure like dams, bridges, mines, metal processing plants, refineries, pulp and paper mills, and power generation facilities. INNOVATE also manufactures specialized components such as trusses, girders, water pipes, storage tanks, tunnel liners, pressure vessels, strainers, filters, separators, and other custom products. The company additionally offers integrated solutions encompassing digital engineering, modeling, detailing, construction, heavy equipment installation, and facility services, alongside expert steel and rebar detailing and BIM modeling and management. Furthermore, it supplies equipment critical to the oil, gas, petrochemical, and pipeline industries. Within the life sciences realm, INNOVATE focuses on the development of products designed to address early osteoarthritis of the knee, as well as aesthetic and medical technologies for skin care. Finally, its spectrum operations include the management of various over-the-air broadcasting stations and the operation of Azteca America, a Spanish-language broadcast network.

Sector: Industrials · Industry: Engineering & Construction

Shariah Compliance Status

AAOIFI Standard 21Updated Aug 12, 2026

Business Activity Screen

Failed

Checks if the business is involved in prohibited activities (alcohol, gambling, pork, conventional banking, etc.)

Prohibited activity detected: casino

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: FMP

Halal Alternatives in Industrials

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

ODFLA+

Old Dominion Freight Line, Inc.

$212.55

-0.85%

PHOEA+

Phoenix Asia Holdings Limited Ordinary Shares

$17.80

+1.37%

BUUUA+

BUUU Group Ltd

$30.08

+4.34%

FASTA+

Fastenal Company

$52.22

+3.33%

IESCA+

IES Holdings, Inc.

$642.77

+3.79%

More Industrials Stocks

GE Aerospace

A+

CAT

Caterpillar Inc.

A+

RTX

RTX Corporation

UNP

Union Pacific Corporation

HON

Honeywell International Inc.

UPS

United Parcel Service, Inc.

B+

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Frequently Asked Questions

Is INNOVATE Corp. (VATE) halal to invest in?

INNOVATE Corp. (VATE) 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 INNOVATE Corp. get a F compliance rating?

INNOVATE Corp. (VATE) received a grade of F (Non-Compliant) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 75.5% (limit 30%). The grade reflects the margin of safety across all three ratios relative to their thresholds.

What could change INNOVATE Corp.'s Shariah verdict?

INNOVATE Corp.'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 INNOVATE Corp. re-screened for Shariah compliance?

INNOVATE Corp. (VATE) 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: Aug 12, 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.