TSX Shariah screener · October 2026

Is DRI Healthcare Trust (DHT.UN) Halal?

FAIL

DRI Healthcare Trust · TSX: DHT.UN · Healthcare

The short answer

DRI Healthcare Trust (TSX: DHT.UN) is a FAIL in our October 2026 screen. The debt gate fails: long-term debt of US$372.3M at June 30, 2026 converts to ~C$528.7M at ~1.42 USD/CAD — about 60.2% of the ~C$879M market cap (54,963,322 units at C$15.99, the September 30, 2026 close), far above the ~33% ceiling. The business gate passes (pharmaceutical royalty investing). The income gate passes (H1 2026 interest income ~0.4% of total income).

Gate 1 — Business activity: PASS

DRI Healthcare Trust is an open-ended trust that purchases royalty entitlements on pharmaceutical products, managed by DRI Capital. At June 30, 2026 its portfolio held 28 royalty streams on 22 products addressing oncology, neurology, ophthalmology, endocrinology, hematology, dermatology, lysosomal storage disorders and immunology (Eylea, Orserdu, Omidria, Spinraza, Xolair, Zejula, Zytiga among them). Buying royalty rights to medicines is a permissible business; no alcohol, pork, gambling, conventional finance, tobacco, cannabis or weapons lines. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: FAIL

Long-term debt was US$372.3M at June 30, 2026 (per the Q2 2026 release: US$29.1M long-term credit facility + US$31.0M preferred securities + US$64.8M convertible debentures + US$247.4M senior notes). Converted at ~1.42 USD/CAD (September 30, 2026), that is ~C$528.7M — about 60.2% of the ~C$879M market cap (54,963,322 units at C$15.99, the September 30, 2026 close) — far above the ~33% ceiling. Gate 2 fails. Context: cash was US$55.2M (~C$78.4M, ~8.9% of market cap); post-quarter, the Ekterly put was exercised for ~US$178M net and a US$75M Lumvoa milestone was paid (US$50M drawn on the credit facility, adding debt). Facts only.

Gate 3 — Non-compliant income: PASS

Other interest income was US$411k in H1 2026 (US$188k in Q2), disclosed in the Q2 2026 release reconciliation. Against H1 2026 total income of US$98,721k that is about 0.4% — under the 5% ceiling. Gate 3 passes. Facts only.

Key figures used

Long-term debt US$372.3M at Jun 30, 2026 (credit facility US$29.1M + preferred securities US$31.0M + convertible debentures US$64.8M + senior notes US$247.4M) → ~C$528.7M at ~1.42 USD/CAD.
Market cap ~C$879M (54,963,322 units x C$15.99, September 30, 2026 close) → debt ≈ 60.2% of market cap.
Cash US$55.2M (~C$78.4M, ~8.9% of market cap); Q2 2026 total income US$50.1M, record quarter.
H1 2026 other interest income US$411k ≈ 0.4% of US$98,721k total income.
Post-quarter: Ekterly put exercised (~US$178M net); US$75M Lumvoa milestone paid Jul 10, 2026 (US$50M drawn on credit facility).
No Zoya, Musaffa or ShariaPortfolio rating found for DHT.UN.

Frequently asked questions

Is DRI Healthcare Trust (DHT.UN) halal?

Our October 2026 screen gives DRI Healthcare Trust (DHT.UN) a FAIL. The debt gate fails: US$372.3M of long-term debt at June 30, 2026 is ~60% of its ~C$879M market cap, far above the ~33% ceiling. The business gate passes (pharmaceutical royalties) and the income gate passes (interest income ~0.4% of income). No Musaffa/Zoya/ShariaPortfolio rating was found.

Why did DRI Healthcare fail the debt gate?

Long-term debt was US$372.3M at June 30, 2026 (credit facility US$29.1M, preferred securities US$31.0M, convertible debentures US$64.8M, senior notes US$247.4M), per the Q2 2026 release. At ~1.42 USD/CAD that is ~C$528.7M, about 60.2% of the ~C$879M market cap (54,963,322 units at C$15.99, the September 30, 2026 close) - far above the ~33% ceiling.

What does DRI Healthcare do?

DRI Healthcare Trust is an open-ended trust that buys pharmaceutical royalty entitlements, giving unitholders top-line exposure to a portfolio of therapeutics. At June 30, 2026 the portfolio held 28 royalty streams on 22 products across oncology, neurology, ophthalmology, endocrinology, hematology, dermatology, lysosomal storage disorders and immunology (products include Eylea, Orserdu, Omidria, Spinraza, Xolair, Zejula and Zytiga). Royalty investing in medicines is a permissible business segment.

Is DRI Healthcare's interest income compliant?

Other interest income was US$411k in H1 2026 (US$188k in Q2), disclosed in the Q2 2026 release reconciliation - earned on cash balances. Against H1 2026 total income of US$98,721k that is about 0.4% - under the 5% ceiling. The income gate passes.

Where can I find more healthcare stock screeners?

See our full list of stock screeners at halal-stock-verdicts.html, which covers every company screened so far.

Sources

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.