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).

Cosan S.A.

CSAN: Is Cosan S.A. Halal?

Not Halal

Cosan S.A.

NYSEEnergyBR

$3.07

+0.33%

About Cosan S.A.

Cosan S.A., through its subsidiaries, primarily engages in the fuel distribution business in Brazil, Europe, Latin America, North America, Asia, and internationally. The company's Ra铆zen segment distributes and markets fuels through a franchised network of service stations under the Shell brand; engages in the petroleum refining; operation of convenience stores; manufacture and sale of automotive and industrial lubricants; and production and sale of liquefied petroleum gas. This segment also markets various products derived from sugar cane, including raw sugar, and anhydrous and hydrated ethanol, as well as engages in activities related to energy cogeneration from sugarcane bagasse; sale of electricity; and holds interests in companies involved in research and development on new technology. The company's Gas and Power segment distributes piped natural gas to customers in the industrial, residential, commercial, automotive, and cogeneration sectors; and engages in purchase and sale of electricity to other traders. Its Moove segment produces and distributes lubricants under the Mobil and Comma brands. The company's Logistics segment provides logistics services for rail transportation, storage and port loading of commodities, including grains and sugar; and leases locomotives, wagons, and another railroad equipment. Its Cosan Investments segment manages agricultural, mining, and logistics projects; and invests in climate tech fund. Cosan S.A. was founded in 1936 and is headquartered in S茫o Paulo, Brazil.

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

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 17, 2026
F

Non-Compliant

Fails Shariah screening

0Score

Business Activity Screen

Passed

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

Financial Ratio Screen

Failed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap2552.2% / 30.0%

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.

Screened: Jun 17, 2026Fiscal: FY 2025Source: FMP

Financial Overview

Market Cap

3.0B

Price

$3.07

Sector

Energy

Industry

Oil & Gas Refining & Marketing

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 2552.2% (limit 30%); interest-bearing deposits of 1090.1% (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: Jun 17, 2026.

Screened according to AAOIFI Standard No. 21 路 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.