Is Aspen Aerogels, Inc. (ASPN) halal? Doubtful. Based on AAOIFI screening, Aspen Aerogels, Inc. passes the business activity screen but has financial ratios approaching AAOIFI limits with a compliance score of 65/100 (Grade: B).

Aspen Aerogels, Inc.

ASPN: Is Aspen Aerogels, Inc. Halal?

Doubtful

Aspen Aerogels, Inc.

NYSEIndustrialsUS

$6.22

+0.00%

About Aspen Aerogels, Inc.

Aspen Aerogels, Inc. designs, develops, manufactures, and sells aerogel insulation products primarily for use in the energy infrastructure and building materials markets in the United States, Asia, Canada, Europe, and Latin America. The company offers PyroThin thermal barriers for use in lithium-ion batteries in electric vehicles and energy storage industries; Pyrogel XTE that reduces the risk of corrosion under insulation in energy infrastructure operating systems; Pyrogel HPS for applications within the power generation market; Pyrogel XTF to provide protection against fire; Cryogel Z for sub-ambient and cryogenic applications in the energy infrastructure market; and Spaceloft Subsea for use in pipe-in-pipe applications in offshore oil production. It also offers Spaceloft Grey and Spaceloft A2 for use in the building materials market; and Cryogel X201, which is used in designing cold systems, such as refrigerated appliances, cold storage equipment, and aerospace systems. The company was founded in 2001 and is headquartered in Northborough, Massachusetts.

Sector: Industrials 路 Industry: Construction

Why This Stock Is Doubtful

  • Interest-bearing deposits are 29.9% of market cap, only 0.1 points below the 30% limit

Stocks are marked Doubtful when financial ratios pass but approach AAOIFI thresholds. Consider consulting a qualified scholar for a definitive ruling.

Shariah Compliance Status

AAOIFI Standard 21Updated Jun 18, 2026
B

Acceptable

Acceptable but room for improvement

65Score

Business Activity Screen

Passed

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

Financial Ratio Screen

Passed

Financial ratios must be below AAOIFI thresholds

Debt / Market Cap12.5% / 30.0%

Compliance History

  1. Doubtfulnow

    since Jun 2026

  2. Not Halal

    until the change above

Tracked since May 2026. Updates automatically on each re-screen.

Screened: Jun 18, 2026Fiscal: Q1 2026Source: EDGAR

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Financial Overview

Market Cap

515.5M

Price

$6.22

Sector

Industrials

Industry

Construction

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Frequently Asked Questions

Is Aspen Aerogels, Inc. (ASPN) halal to invest in?
Aspen Aerogels, Inc. (ASPN) is rated Doubtful under AAOIFI Standard 21. It passes the business activity screen but one or more financial ratios are approaching (though not yet exceeding) the AAOIFI thresholds (30% for debt and interest deposits, 5% for prohibited income). Consult a qualified Islamic finance scholar for a personal ruling.
Why did Aspen Aerogels, Inc. get a B compliance rating?
Aspen Aerogels, Inc. (ASPN) received a grade of B (Acceptable) based on three AAOIFI Standard 21 financial ratios: debt-to-market-cap of 12.5% (limit 30%); interest-bearing deposits of 29.9% (limit 30%); prohibited income of 0.00% (limit 5%). The grade reflects the margin of safety across all three ratios relative to their thresholds.
What could change Aspen Aerogels, Inc.'s Shariah verdict?
Aspen Aerogels, Inc.'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 Aspen Aerogels, Inc. re-screened for Shariah compliance?
Aspen Aerogels, Inc. (ASPN) 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 18, 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.