Is Art's-Way Manufacturing Co., Inc. ARTW stock Halal to invest in?

No, as of September 2026, Art's-Way Manufacturing Co., Inc. stock (ARTW) is not currently classified as a Shariah compliant stock. This verdict follows the screening methodology of AAOIFI (the Accounting and Auditing Organization for Islamic Financial Institutions), whose Shariah Standard No. 21 is the leading global benchmark for screening Halal stocks. To qualify as Halal under this standard, a company must keep non-permissible income below 5% of total revenue, keep both interest-bearing investments and interest-bearing debt below 30% of market capitalisation, and have no impermissible preference share structure. Art's-Way Manufacturing Co., Inc. currently does not meet the threshold for the interest-bearing debt screen. Because screenings are refreshed monthly as new financial reports are published, a non-compliant stock can regain compliant status if its financial structure changes. You can track the latest status of Art's-Way Manufacturing Co., Inc. and discover Shariah compliant alternatives among the Halal stocks in the Tabadulat app.

How often is Art's-Way Manufacturing Co., Inc. ARTW reviewed for Shariah compliance?

Tabadulat reviews Art's-Way Manufacturing Co., Inc. ARTW for Shariah compliance every month. Each review applies the AAOIFI Shariah Standard No. 21 methodology, screening the company's business activities, non-permissible income, interest-bearing investments, interest-bearing debt, and preference shares, against the company's latest available financial data. The process operates under the direct supervision of Tabadulat's dedicated Shariah Supervisory Board of Islamic finance scholars. Because compliance depends on financial ratios that move with market capitalisation and reported results, a stock's status can change from one review to the next. Monthly screening ensures the status shown for Art's-Way Manufacturing Co., Inc. reflects current financial data rather than an outdated assessment, and Tabadulat app users are notified if a holding in their portfolio becomes non-compliant.

Does Art's-Way Manufacturing Co., Inc. ARTW pass the AAOIFI Non Permissible Income criteria?

Yes, as of September 2026, Art's-Way Manufacturing Co., Inc. stock (ARTW) passes the AAOIFI non-permissible income screen. Each month Tabadulat measures Art's-Way Manufacturing Co., Inc.'s income from impermissible sources, covering Riba, conventional financial services, alcohol, gambling and tobacco, against AAOIFI's 5% revenue ceiling. The latest screening puts the company inside the limit. Even permissible levels of incidental impure income should still be purified: investors donate the corresponding share of dividends to charity, as reflected in the stock's purification factor. This screen is reassessed monthly using the company's latest financial disclosures.

Does Art's-Way Manufacturing Co., Inc. ARTW pass the AAOIFI Interest Bearing Investments criteria?

Yes, as of September 2026, Art's-Way Manufacturing Co., Inc. stock (ARTW) passes the AAOIFI interest-bearing investments screen. Under AAOIFI Shariah Standard No. 21, the cash a company places in interest-earning instruments (such as conventional deposits, bonds, treasury bills and money-market funds) must remain below 30% of its market capitalisation. This limit ensures shareholders are not materially profiting from Riba (interest). Art's-Way Manufacturing Co., Inc.'s interest-bearing investments are currently within the 30% threshold. Because the ratio is measured against market capitalisation, it can move with the share price as well as the balance sheet, which is why Tabadulat rescreens the stock every month.

Does Art's-Way Manufacturing Co., Inc. ARTW pass the AAOIFI Interest Bearing Debt criteria?

No, as of September 2026, Art's-Way Manufacturing Co., Inc. stock (ARTW) does not pass the AAOIFI interest-bearing debt screen. Under AAOIFI Shariah Standard No. 21, a company's borrowings that accrue interest (conventional bank loans, bonds and similar Riba-based financing) must remain below 30% of its market capitalisation. Art's-Way Manufacturing Co., Inc.'s interest-bearing debt currently exceeds this 30% limit, meaning the company relies on Riba-based financing beyond the level AAOIFI permits for a Halal investment. A company can return to compliance by reducing debt or through changes in market capitalisation, and the screen is reassessed monthly.

What is the dividend purification factor for Art's-Way Manufacturing Co., Inc. ARTW stock?

Art's-Way Manufacturing Co., Inc. (ARTW) is currently classified as not Shariah compliant, so no dividend purification factor applies, because purification factors are calculated only for stocks that pass the AAOIFI screens. Purification (Tazkiyah) is the practice of donating to charity the small portion of dividend income that stems from incidental non-permissible sources, such as interest earned on a compliant company's cash deposits. For non-compliant stocks the issue is not purification but eligibility: under AAOIFI Shariah Standard No. 21 the stock does not currently qualify as a Halal investment. If Art's-Way Manufacturing Co., Inc. returns to compliance in a future monthly screening, its purification factor will be published alongside its updated status in the Tabadulat app.

Does Art's-Way Manufacturing Co., Inc. ARTW pass the AAOIFI Preference Share screen?

Yes, as of September 2026, Art's-Way Manufacturing Co., Inc. stock (ARTW) passes the AAOIFI preference share screen. AAOIFI Shariah Standard No. 21 prohibits investing in preference shares because they grant holders guaranteed or priority rights to dividends and capital ahead of ordinary shareholders, a structure that conflicts with the Shariah principle that investors should share profit and loss in proportion to their ownership. Art's-Way Manufacturing Co., Inc. has no impermissible preference share structure affecting its ordinary shares, so the stock is compliant on this criterion. Like all AAOIFI screens, this is verified in each monthly review.

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العربية

Is Art's-Way Manufacturing (ARTW) stock Halal?

NASDAQ

Shariah-Compliant

Not Shariah

Under AAOIFI Shariah Standard No. 21, a Halal stock keeps non-permissible income below 5% of revenue and interest-bearing debt and investments each below 30% of market capitalisation. Art's-Way Manufacturing Co., Inc. (ARTW) does not meet the threshold for the interest-bearing debt screen as of September 2026, so it is not Shariah compliant.

Sector:

Industrials

Industry:

Farm & Heavy Construction Machinery

Employees:

Website:

https://artsway-mfg.com

Market cap:

$16M

P/E ratio:

9.8

Dividend yield:

52-week range:

$2.05 - $4.17

Data as of:

3 September 2026

Screening history:

September 2026: FAIL

Art's-Way Manufacturing is a diversified manufacturer primarily focused on the agricultural industry. The company is known for producing specialized farm machinery and equipment. Art's-Way Manufacturing's diverse product lines include portable grain auger solutions, grinder mixers, forage equipment, and sugar beet harvesting tools, all designed to improve agricultural efficiency and output. In addition to its agricultural machinery, the company plays a significant role in the fabrication and manufacturing of modular and steel buildings through its subsidiaries. For Muslim investors, though, the most pressing question is simpler: is Art's-Way Manufacturing a Halal investment?

Is Art's-Way Manufacturing Shariah compliant?

For industrial companies like Art's-Way Manufacturing, the product is rarely the problem; aircraft, vehicles and machinery are permissible. The exposure is leverage: fleets and factories are financed, and the 30% cap that AAOIFI Shariah Standard No. 21 places on interest bearing debt is the screen that decides most verdicts in this sector.

Does Art's-Way Manufacturing pass the business activity test?

The activity screen is only part of the picture this month: Art's-Way Manufacturing currently fails the interest-bearing debt screen, so the overall verdict is not compliant regardless of the business itself. The activity itself raises no Shariah objection; the scrutiny belongs to the financing.

Is Art's-Way Manufacturing's income Halal?

Yes, within AAOIFI's tolerance. Art's-Way Manufacturing's income from non-permissible sources stays below 5% of revenue in the September 2026 screening.

Does Art's-Way Manufacturing meet AAOIFI's debt and investment ratio requirements?

Not in full. Interest bearing debt currently exceeds the 30% cap, while the other ratio stays within it. One breach is enough to fail the screening; the ratios are reassessed monthly under our Shariah Supervisory Board.

Tabadulat is an ADGM regulated brokerage whose license covers Shari'a Compliant Regulated Activities, as the FSRA permission names them. New to the terminology? Gharar and Maysir, Sukuk, Zakat and purification are all explained in plain English.

New to the four screens? Read AAOIFI Standards Explained: What Makes a Stock Halal?

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