TSX Shariah screener · October 2026
Is ACT Energy Technologies Ltd. (ACX) Halal?
ACT Energy Technologies Ltd. · TSX: ACX · Energy
The short answer
No — ACT Energy Technologies (ACX) fails this Shariah stock screen on the debt gate. Its directional drilling services business is permissible, but loans, borrowings, and promissory notes of C$160.577M at June 30, 2026 are about 53.9% of its C$297.89M market cap — well over the ~33% ceiling. (Net debt of C$142.055M alone is 47.7%.) Renamed from Cathedral Energy Services (TSX:CET) effective July 3–5, 2024. No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented.
Gate 1 — Business activity: PASS
ACT Energy Technologies Ltd. (TSX:ACX) provides directional drilling services and downhole technology (Altitude Energy Partners, Discovery Downhole, Rime Downhole) in Canada and the US. It was renamed from Cathedral Energy Services Ltd. (TSX:CET) effective July 3–5, 2024 with a 1-for-7 share consolidation. No alcohol, pork, gambling, conventional interest-based lending, tobacco, cannabis, weapons, or adult-entertainment lines were disclosed. Gate 1 passes. Facts only.
Gate 2 — Debt and cash: FAIL
'Loans, borrowings and promissory notes' at June 30, 2026 were C$160.577M (up from C$61.534M at December 31, 2025, driven by the SB + Stryker acquisitions). Against a market cap of roughly C$297.89M (C$7.73, October 1, 2026), debt ÷ market cap is about 53.9% — well over the ~33% ceiling. Net debt of C$142.055M alone is 47.7%. Cash of about C$18.5M is about 6.2% of market cap. Gate 2 fails. Facts only.
Gate 3 — Non-compliant income: Not assessed — debt gate decisive
With the debt gate failed, the income ratio does not change the outcome. For reference, Q2 2026 revenue was C$178.474M (Canada C$55.262M + US C$123.212M); no income ratio is asserted here. Facts only.
Key figures used
- 'Loans, borrowings and promissory notes': C$160.577M at Jun 30, 2026 (vs C$61.534M Dec 31, 2025 — SB + Stryker acquisitions) ≈ 53.9% of market cap — FAIL vs ~33%
- Market cap: ~C$297.89M (C$7.73, Oct 1, 2026); net debt C$142.055M alone = 47.7%
- Cash: ~C$18.5M ≈ 6.2% of market cap
- Q2 2026 revenue: C$178.474M (Canada C$55.262M + US C$123.212M)
- Renamed from Cathedral Energy Services (TSX:CET) effective Jul 3–5, 2024 (1-for-7 consolidation) — no haram segments
Frequently asked questions
Is ACT Energy Technologies (ACX) halal?
No. ACT Energy Technologies fails this Shariah stock screen on the debt gate. Its directional drilling services business is permissible, but loans, borrowings, and promissory notes of C$160.577M at June 30, 2026 are about 53.9% of its C$297.89M market cap — well over the ~33% ceiling. (Net debt of C$142.055M alone is 47.7%.) Renamed from Cathedral Energy Services (TSX:CET) effective July 3–5, 2024. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
What is ACT Energy Technologies' debt-to-market-cap ratio?
About 53.9%. 'Loans, borrowings and promissory notes' at June 30, 2026 were C$160.577M (up from C$61.534M at December 31, 2025, driven by the SB + Stryker acquisitions), against a market cap of roughly C$297.89M (C$7.73, October 1, 2026) — well over the ~33% ceiling.
What does ACT Energy Technologies do?
ACT Energy Technologies Ltd. (TSX:ACX) provides directional drilling services and downhole technology (Altitude Energy Partners, Discovery Downhole, Rime Downhole) in Canada and the US. It was renamed from Cathedral Energy Services Ltd. (TSX:CET) effective July 3–5, 2024 with a 1-for-7 share consolidation.
How much interest income does ACT Energy Technologies earn relative to revenue?
No income ratio is asserted in this screen: with the debt gate failed, the income ratio does not change the outcome. For reference, Q2 2026 revenue was C$178.474M (Canada C$55.262M + US C$123.212M).
Where can I find more energy stock screeners?
See halal-stock-verdicts.html for the full list of stock screeners, including the other energy-sector entries.
Sources
- ACT Energy Technologies — Q2 2026 MD&A (filed Aug 7, 2026): C$160.577M loans/borrowings/promissory notes; C$142.055M net debt
- Finnhub — ACX quote (C$7.73, Oct 1, 2026)
Screened 2026-10-01 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.