Is Cargojet / CJT Halal?
Cargojet Inc. (TSX: CJT) is Canada's time-sensitive overnight air-cargo carrier, operating a domestic co-load network plus dedicated-aircraft and scheduled international routes. The air-cargo business clears gate one, but ~70% debt-to-market-cap is more than double the ~33% ceiling — a FAIL, re-checked every quarter.
The two-gate Shariah screen
Every screener on this site runs the same two gates: first, the business must be halal (no conventional insurance, banking, alcohol, gambling, and the like); second, the financial ratios must clear (debt under roughly 33% of market cap, non-compliant income under roughly 5%).
Gate one: the business — PASS
Cargojet operates a domestic air-cargo co-load network between Canadian cities, dedicated aircraft services, and scheduled international routes between Canada, the US, the UK, Germany, Asia, Mexico and Bermuda. Air-cargo transport is a permissible business activity under AAOIFI-style screens, and no haram revenue segment is disclosed. Gate one: PASS.
Gate two: the ratios — FAIL
Debt-to-market-cap: ~70% (ceiling ~33%) — FAIL. Total long-term debt was roughly CA$875.8 million as of June 30, 2026. Against a market cap of roughly CA$1.25 billion (at ~CA$84.50 per share on 14.8 million shares outstanding), the debt-to-market-cap ratio is approximately 70% — more than double the ~33% ceiling.
Non-compliant income: not separately disclosed — FAIL stands regardless. Interest income is not broken out in the company's reporting. The FAIL is driven entirely by the debt ratio. Gate two: FAIL.
What other screeners say
No verified current third-party rating was found for Cargojet on Zoya, Musaffa, or ShariaPortfolio as of September 2026. The FAIL screener here rests on this site's own screening methodology, not on a third-party endorsement.
The bottom line
This screener gives Cargojet Inc. (TSX: CJT) a FAIL. The turnaround matters — Q2 2026 profit of CA$7 million versus a CA$3.2 million loss a year earlier — but the screen looks at the balance sheet, not earnings, and the balance sheet is too leveraged. The company also pays a CA$1.54 annualized dividend (~1.8% yield). Snapshot dated September 28, 2026; re-checked quarterly after earnings — the debt gate stays closed unless leverage falls or the share price recovers.
The purification angle: Cargojet pays a quarterly dividend (CA$1.54 annualized), so if you hold the shares and need to purify, the purification calculator is here.
Frequently asked questions
Is Cargojet stock halal?
This screener gives Cargojet Inc. (TSX: CJT) a FAIL. The Mississauga-based air-cargo carrier's overnight co-load network and dedicated-aircraft services clear the business-activity screen, but the debt math fails decisively: roughly CA$875.8 million of total long-term debt as of June 30, 2026 against a market cap of roughly CA$1.25 billion is approximately 70% — more than double the ~33% AAOIFI ceiling. Interest income is not broken out in its reporting, so the FAIL rests on the debt ratio.
What are Cargojet's debt and market-cap figures?
Cargojet reported total long-term debt of roughly CA$875.8 million as of June 30, 2026. Against a market cap of roughly CA$1.25 billion at ~CA$84.50 per share on 14.8 million shares outstanding, the debt-to-market-cap ratio is approximately 70% — more than double the ~33% AAOIFI ceiling, measured consistently with the other screeners on this site.
Does Cargojet pay a dividend?
Yes. Cargojet pays a quarterly dividend of CA$0.385 per share (CA$1.54 annualized), yielding about 1.8%. A dividend is not itself a Shariah screen, but holders may still need to consider purification if any income is non-compliant.
Do any third-party screeners agree with this screener?
No verified current third-party rating was found for Cargojet on Zoya, Musaffa, or ShariaPortfolio as of September 2026. The FAIL screener here rests on this site's own screening methodology, not on a third-party endorsement.
What could change Cargojet's halal screener?
The debt ratio sits at ~70% — more than double the ~33% ceiling — so the shares would need significant debt reduction, a higher share price, or both. Its Q2 2026 profit of CA$7 million was a turnaround from a CA$3.2 million loss a year earlier, but the screen looks at the balance sheet, not earnings. This screener is a snapshot dated September 28, 2026 and is re-checked quarterly after earnings.