Is Cogeco (CGO) halal?
Cogeco Inc. (TSX: CGO) is a telecom and media holding corporation whose debt and lease liabilities of about 973% of market cap — roughly thirty times the ~33% ceiling — mean it fails the debt gate: FAIL.
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, weapons manufacturing, 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 — no haram lines identified
'Cogeco Inc. is a holding corporation which operates in the telecommunications and media sectors. Its Cogeco Communications Inc. subsidiary is a telecommunications corporation which provides Internet, wireless, video and wireline phone services to residential and business customers in Canada and in the United States. Its Cogeco Media subsidiary operates 21 radio stations in Canada, primarily in the province of Québec, as well as a news agency.' No haram business segments are disclosed.
Gate two: the ratios — the debt gate fails decisively
At May 31, 2026 (Q3 2026 interim financial statements): notes and credit facilities of C$4,510.3 million plus lease liabilities of C$92.2 million — about C$4.60 billion in total. With 9,642,779 shares outstanding at C$49.05 (September 28, 2026), market cap is about C$473.0 million, so debt-to-market-cap is about 973% — roughly thirty times the ~33% ceiling. This is a structurally over-leveraged holding company, not a borderline call; the quarter also posted a C$1.76 billion loss driven by C$2.25 billion of non-cash impairment charges on the US telecommunications segment and radio operations. The income ratio is null — interest income is not separately disclosed (only a combined 'Interest and other income' line of C$6.1 million in Q3) — but it is moot because the debt failure alone is decisive. Cash was C$77.4 million (~16.4% of market cap).
What other screeners say
None of Zoya, Musaffa, or ShariaPortfolio cover CGO — searches of zoya.finance and musaffa.com found no coverage pages, and no ShariaPortfolio stock page for the ticker was located as of September 29, 2026. There is no third-party rating to cite; this screener rests on Cogeco's own Q3 2026 filings.
The bottom line
This screener gives Cogeco Inc. (TSX: CGO) a FAIL. Debt and lease liabilities of about 973% of market cap are decisively over the ~33% ceiling — on verified filing numbers, at any plausible recent share price. No haram business lines are disclosed; the failure is purely debt-driven. Snapshot dated September 29, 2026; re-checked quarterly after earnings.
Sources
Frequently asked questions
Is Cogeco stock halal?
No — Cogeco Inc. (TSX: CGO) fails the debt gate decisively. Interest-bearing notes and credit facilities plus lease liabilities of about C$4.60 billion are about 973% of its ~C$473 million market cap — roughly thirty times the ~33% ceiling. No haram business lines are disclosed. Interest income is not separately disclosed in the filings, but the debt failure alone is decisive. None of Zoya, Musaffa, or ShariaPortfolio cover CGO. Consult a qualified scholar.
What are Cogeco's debt and market-cap figures?
At May 31, 2026 (Q3 2026 interim financial statements): notes and credit facilities of C$4,510.3 million plus lease liabilities of C$92.2 million — about C$4.60 billion in total. Market cap is about C$473.0 million (9,642,779 shares at C$49.05, September 28, 2026). Debt-to-market-cap is about 973% — roughly thirty times the ~33% ceiling. Cash was C$77.4 million (~16.4% of market cap).
How much interest income does Cogeco earn?
Interest income is not separately disclosed — Note 9 to the interim financial statements reports only a combined 'Interest and other income' line (C$6.1 million in Q3 2026) netted within financial expense, so pure interest income cannot be isolated from the filings. The income ratio is therefore null; it is moot because the debt failure alone is decisive.
What does Cogeco Inc. do?
'Cogeco Inc. is a holding corporation which operates in the telecommunications and media sectors. Its Cogeco Communications Inc. subsidiary is a telecommunications corporation which provides Internet, wireless, video and wireline phone services to residential and business customers in Canada and in the United States. Its Cogeco Media subsidiary operates 21 radio stations in Canada, primarily in the province of Québec, as well as a news agency.' No haram business lines are disclosed.
What do Zoya, Musaffa, and ShariaPortfolio say about CGO?
None of the three cover CGO: searches of zoya.finance and musaffa.com found no coverage pages, and no ShariaPortfolio stock page for the ticker was located as of September 29, 2026. There is no third-party rating to cite for this stock — this screener rests on Cogeco's own Q3 2026 filings.