Is INNOVATE Corp. (VATE) Halal?
Shariah Screening — 5 Standards
Based on financial data from December 2024
| Standard | Debt Ratio | Cash Ratio | Receivables | Income | Status |
|---|---|---|---|---|---|
| AAOIFI | 1101.9% / 30% | 74.8% / 30% | 461.0% / 30% | 0.23% / 5% | ✗ NOT HALAL |
| DJIM | 1101.9% / 33% | 74.8% / 33% | 461.0% / 33% | 0.23% / 5% | ✗ NOT HALAL |
| MSCI | 80.7% / 33% | 5.5% / 33% | 33.8% / 33% | 0.23% / 5% | ✗ NOT HALAL |
| S&P | 1101.9% / 33% | 74.8% / 33% | 461.0% / 33% | 0.23% / 5% | ✗ NOT HALAL |
| FTSE | 80.7% / 33% | 5.5% / 33% | 33.8% / 50% | 0.23% / 5% | ✗ NOT HALAL |
Financial Highlights
Profitability
| Gross Margin | 17.0% | |
| Operating Margin | 1.8% | |
| Net Margin | -6.3% | |
| Return on Assets (ROA) | 1.2% |
Cash Flow & Balance Sheet
| Operating Cash Flow | $9M |
| Free Cash Flow | -$10M |
| Total Debt | $719M |
| Current Ratio | 0.4 |
| Total Assets | $891M |
Price & Trading
| Last Close | $4.03 |
| 50-Day MA | $5.03 |
| 200-Day MA | $5.09 |
| Avg Volume | 17K |
| Beta | 1.6 |
|
52-Week Range
$3.75
| |
About INNOVATE Corp. (VATE)
INNOVATE Corp., through its subsidiaries, operates in infrastructure, life sciences, and spectrum areas in the United States. The Infrastructure segment provides industrial construction, structural steel, and facility maintenance services, such as fabrication and erection of structural steel and heavy steel plate services, and large-diameter water pipes and water storage tanks; fabrication of trusses and girders; and 3-D building information modeling and detailing for commercial, industrial, and infrastructure construction projects, such as buildings and office complexes, hotels and casinos, convention centers, sports arenas and stadiums, shopping malls, hospitals, dams, bridges, mines, metal processing, refineries, pulp and paper mills, and power plants. This segment also offers solutions for digital engineering, modeling and detailing, construction, and heavy equipment installation and facility services, including maintenance, repair, and installation; and manufactures pollution control scrubbers, tunnel liners, pressure vessels, strainers, filters, separators, and various customized products. The Life Sciences segment develops products to treat early osteoarthritis of the knee; and aesthetic and medical technologies for the skin. The Spectrum segment operates over-the-air broadcasting stations across the United States. The company was formerly known as HC2 Holdings, Inc. and changed its name to INNOVATE Corp. in September 2021. The company was incorporated in 1994 and is headquartered in New York, New York.
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Frequently Asked Questions
Is INNOVATE Corp. (VATE) halal to invest in?
Based on our screening using AAOIFI Standard 21 (the strictest methodology), INNOVATE Corp. 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 INNOVATE Corp.'s debt ratio?
INNOVATE Corp.'s debt ratio is 1101.9% 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 80.7%.
What are INNOVATE Corp.'s key financial metrics?
INNOVATE Corp. has a market capitalization of $63M, and revenue of $1.1B. The company maintains a gross margin of 17.0% and a net margin of -6.3%.
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.