Is CapitaLand (C38U) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2025
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | 55.8% / 30% | 0.8% / 30% | 0.6% / 30% | 0.42% / 5% | ✗ NOT HALAL |
| DJIM | 55.8% / 33% | 0.8% / 33% | 0.6% / 33% | 0.42% / 5% | ✗ NOT HALAL |
| MSCI | 36.5% / 33% | 0.5% / 33% | 0.4% / 33% | 0.42% / 5% | ✗ NOT HALAL |
| S&P | 55.8% / 33% | 0.8% / 33% | 0.6% / 33% | 0.42% / 5% | ✗ NOT HALAL |
| FTSE | 36.5% / 33% | 0.5% / 33% | 0.4% / 50% | 0.42% / 5% | ✗ NOT HALAL |
Financial Highlights
Profitability
| Gross Margin | 69.1% | |
| Operating Margin | 66.3% | |
| Net Margin | 57.9% | |
| Return on Equity (ROE) | 5.9% | |
| Return on Assets (ROA) | 2.5% |
Cash Flow & Balance Sheet
| Operating Cash Flow | $1.1B |
| Free Cash Flow | $811M |
| Total Debt | $10.0B |
| Debt-to-Equity | 62.3 |
| Current Ratio | 0.6 |
| Total Assets | $27.4B |
Price & Trading
| Last Close | SGD 2.29 |
| 50-Day MA | SGD 2.40 |
| 200-Day MA | SGD 2.32 |
| Avg Volume | 25.8M |
| Beta | 0.5 |
|
52-Week Range
SGD 1.96
| |
About CapitaLand (C38U)
CapitaLand Integrated Commercial Trust (CICT or the Trust) is the first and largest real estate investment trust (REIT) listed on Singapore Exchange Securities Trading Limited (SGX-ST) with a market capitalization of US$14.2 billion or S$18.2 billion as at 31 December 2025. It debuted on SGX-ST as CapitaLand Mall Trust in July 2002 and was renamed CICT in November 2020 following the merger with CapitaLand Commercial Trust. As the largest proxy for Singapore commercial real estate, CICT owns and invests in quality income-producing assets primarily used for commercial (including retail and/or office) purposes, located predominantly in Singapore. CICT's portfolio comprises 20 properties in Singapore, two properties in Frankfurt, Germany, and three properties in Sydney, Australia with a total property value of S$27.0 billion or US$21.0 billion based on valuations of its proportionate interests in the portfolio as at 31 December 2025. CICT is managed by CapitaLand Integrated Commercial Trust Management Limited (CICTML or the Manager), a wholly owned subsidiary of CapitaLand Investment Limited, a leading global real asset manager with a strong Asia foothold. CapitaLand Integrated Commercial Trust was established in October 29, 2001.
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Frequently Asked Questions
Is CapitaLand (C38U) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), CapitaLand is Not Halal. The company fails one or more screening criteria. We screen against all 5 major standards: AAOIFI, DJIM, MSCI, S&P, and FTSE.
What is CapitaLand's debt ratio?
CapitaLand's debt ratio is 55.8% under the AAOIFI standard (which uses market capitalization as the denominator). The AAOIFI threshold is 30%. Under MSCI and FTSE (which use total assets as the denominator), the debt ratio is 36.5%.
What are CapitaLand's key financial metrics?
CapitaLand has a market capitalization of $17.4B, trailing P/E ratio of 17.7, and revenue of $1.6B. The company maintains a gross margin of 69.1% and a net margin of 57.9%. Return on equity stands at 5.9%.
How often is the screening data updated?
Our screening data is updated regularly using the latest available financial statements and market data. Stock prices and market caps are refreshed frequently, while financial statements are updated quarterly when companies report earnings.
Disclaimer: HalalStockGuide.com provides Shariah compliance screening for educational and informational purposes only. This is not a fatwa, financial advice, or a recommendation to buy or sell any security. Screening results are based on publicly available financial data and established methodologies. Always consult a qualified Islamic scholar and a licensed financial advisor before making investment decisions.