TSX Shariah screener · October 2026
Is Aegis Brands Inc. (AEG) Halal?
Aegis Brands Inc. · TSX: AEG · Consumer Discretionary
The short answer
No — Aegis Brands (AEG) fails this Shariah stock screen. Its core business is the St. Louis Bar & Grill sports-bar brand, and alcohol is a material disclosed business line: the company's own franchise marketing cites 'consistently high beer revenue' as proven demand. Separately, total liabilities of C$32.460M at March 29, 2026 are about 150% of its ~C$21.58M market cap, breaching the ~33% debt ceiling. Interest income is not separately disclosed in the interim filings, so the income ratio is unverifiable — reported as such, not guessed. No Zoya, Musaffa, or ShariaPortfolio rating was found for this ticker — honestly reported as absent, not invented. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
Gate 1 — Business activity: FAIL
Aegis Brands Inc. (TSX:AEG) owns and operates the St. Louis Bar & Grill brand — a sports-bar chain (81 locations per the Annual Information Form) — and holds the master franchise for Sweet Jesus ice cream in Canada. Alcohol is a material disclosed business line: the company's official franchise site lists 'consistently high beer revenue' as a proven-demand selling point, and St. Louis locations are categorized as Sports Bar / Bar / Pub, with 'Serves beer' documented across location pages. Gate 1 fails on alcohol exposure. Facts only.
Gate 2 — Debt and cash: FAIL
Total liabilities at March 29, 2026 (Q1 2026 interim financial statements, SEDAR+) were C$32.460M — debt ÷ market cap is about 150% against a market cap of roughly C$21.58M (85.287M shares at ~C$0.25), far above the ~33% ceiling. Interest-bearing debt alone (long-term debt C$20.225M + current portion C$2.862M = C$23.087M) is about 107% of market cap. Cash of C$1.722M is about 8% of market cap. Gate 2 fails. Facts only.
Gate 3 — Non-compliant income: unverifiable
The Q1 2026 interim financial statements disclose revenue of C$3.756M and only an 'Interest and financing expense' line (C$430K) — interest income is not separately disclosed in the primary filings, and the Q2 2026 press release reconciliation shows only 'interest and financing charges' (C$416K in Q2 2026), so the non-compliant income ratio is unverifiable. Because the overall result is already a decisive FAIL on Gates 1 and 2, gate 3 is reported as unverifiable/informational rather than estimated. Gate 3 is not the driver of the fail. Facts only.
Key figures used
- Total liabilities: C$32.460M at Mar 29, 2026 (Q1 2026 interim FS); debt ÷ market cap ≈ 150% vs ~33% ceiling
- Interest-bearing debt: C$23.087M (long-term C$20.225M + current C$2.862M) ≈ 107% of market cap
- Market cap: ~C$21.58M (85.287M shares × ~C$0.245–0.25, Oct 1, 2026); cash C$1.722M ≈ 8%
- St. Louis Bar & Grill: sports-bar chain, 81 locations; company cites 'consistently high beer revenue' in franchise marketing
- Q2 2026: net income C$1.322M; system sales C$34.6M (−2.1%); interest and financing charges C$416K
Frequently asked questions
Is Aegis Brands (AEG) halal?
No. Aegis Brands fails this Shariah stock screen on two gates. Its core business is the St. Louis Bar & Grill sports-bar brand, and alcohol is a material disclosed business line — the company's own franchise site cites 'consistently high beer revenue' as proven demand. Separately, total liabilities of C$32.460M are about 150% of its ~C$21.58M market cap, far above the ~33% debt ceiling. See halal-stock-verdicts.html for the full list of stock screeners, including the other consumer-discretionary entries. This is a factual screen, not a religious ruling — consult a qualified scholar for personal guidance.
What is Aegis Brands' debt-to-market-cap ratio?
About 150.4%. Total liabilities at March 29, 2026 (Q1 2026 interim financial statements) were C$32.460M, against a market cap of roughly C$21.58M (85.287M shares at ~C$0.245–0.25, October 1, 2026) — far above the ~33% ceiling. Interest-bearing debt alone (C$23.087M) is about 107% of market cap.
What does Aegis Brands do?
Aegis Brands Inc. (TSX:AEG) owns and operates the St. Louis Bar & Grill brand — a sports-bar chain with about 81 locations across Canada (per the Annual Information Form) — and holds the master franchise for the Sweet Jesus ice cream brand in Canada. Revenue comes from franchise royalties and fees, supplier contributions, corporate restaurants, and advertising-fund revenue.
Why does alcohol exposure matter for Aegis Brands' screen?
St. Louis Bar & Grill is a sports-bar business, not a pure restaurant: the company's official franchise marketing lists 'consistently high beer revenue' as a proven-demand selling point, and locations are categorized as Sports Bar / Bar / Pub with beer service documented. Alcohol is therefore a material disclosed business line, and Gate 1 (business activity) fails.
What is Aegis Brands' interest income relative to revenue?
Unverifiable. The Q1 2026 interim financial statements disclose revenue of C$3.756M and only an 'Interest and financing expense' line (C$430K) — interest income is not separately disclosed in the primary filings, so no ratio is calculated. This gate is reported as unverifiable/informational; the overall FAIL is already decided by Gates 1 and 2.
Sources
- Aegis Brands — Q1 2026 interim financial statements (SEDAR+): C$32.460M total liabilities; C$20.225M long-term debt + C$2.862M current portion; C$3.756M revenue
- Aegis Brands — Q2 2026 press release (Jul 31, 2026): net income C$1.322M; interest and financing charges C$416K; system sales C$34.6M
- St. Louis Bar & Grill — official franchise page: 'consistently high beer revenue' listed as proven demand
- Finnhub — AEG.TO quote (C$0.245, C$21.58M market cap, Oct 1, 2026)
- Barchart — AEG.TO profile: 85,287K shares outstanding
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.
Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).