PHOE
Quality Rating
Phoenix Motor Inc. (PHOE) demonstrates strong financial compliance with all Shariah screening ratios well below thresholds, supported by a halal core business in electric vehicle manufacturing. However, due to its small market capitalization and liquidity, it is not included in major Shariah indices. The overall status is determined by index inclusion, resulting in NON_COMPLIANT classification despite passing individual screens. Purification is minimal at 0.01% due to negligible non-compliant income. Investors may consider it for direct screening but should monitor for growth toward index eligibility.
Purification Required
Minimal purification needed for dividend income
Index Inclusion
Not included in S&P Dow Jones Shariah Indices, MSCI Islamic Indices, FTSE Shariah Indices, or Dow Jones Islamic Market (DJIM)
Key Compliance Considerations
- Exclusion from all major Shariah indices due to small market cap and liquidity requirements
Debt Ratio
0.0%
Liquidity Ratio
0.0%
Interest Income Ratio
0.0%
Purification
0.01%