Is Enghouse Systems / ENGH Halal?
Enghouse Systems Limited (TSX: ENGH), headquartered in Markham, Ontario, is an enterprise-software vendor — contact-centre and video communications (Interactive Management Group) plus asset- and risk-management software for financial institutions (Asset Management Group). The business passes and both ratios clear comfortably: no external debt (~0.9% of market cap) and finance income ~1.5% of revenue. PASS.
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 — passes
Enghouse builds and sells enterprise software: contact-centre and video communications software (recent acquisitions include Lifesize and Qumu), and software that helps financial institutions manage risk and assets. Recurring SaaS and maintenance revenue was ~69.5% of Q3 revenue. One factual nuance: Asset Management Group customers include financial institutions — Enghouse is a software vendor to them, not a lender or financial institution itself. No verified involvement in weapons/defence, gambling, alcohol, tobacco, pork or adult entertainment was found. Gate one: passes.
Gate two: the ratios — both gates clear
The debt gate clears decisively. As at July 31, 2026 (Q3 fiscal 2026, in Canadian dollars): Enghouse has no external debt at all — no credit facility, term loan or debenture lines — only lease obligations of C$4.02 million current + C$4.01 million non-current = about C$8.0 million; it ended the quarter with C$267.8 million in cash, cash equivalents and short-term investments. Market cap is about C$902 million (C$16.74 TSX close on September 25, 2026 × about 53.9 million shares) — putting debt at ~0.9% of market cap, far under the ~33% ceiling. The income gate clears too: the income statement reports a standalone "Finance income" line — C$1.72 million in Q3, C$4.88 million for nine months — with foreign exchange reported separately, so FX is excluded; even treating the entire line as interest-like, it is ~1.46% of Q3 revenue (C$117.58 million) and ~1.39% of nine-month revenue — under the ~5% ceiling. (The filings do not label the line "interest income" or break it down.) Gate two: passes.
What other screeners say
No Musaffa, Zoya or ShariaPortfolio rating for ENGH could be verified as of September 2026. This screener is independent.
The bottom line
This screener gives Enghouse Systems Limited (TSX: ENGH) a PASS. The enterprise-software business is permissible, the company carries no external debt (~0.9% of market cap including leases), and finance income of ~1.5% of revenue clears the income gate even on the strictest reading. Snapshot dated September 29, 2026; re-checked quarterly after earnings.
The purification angle: run the purification calculator to estimate any non-compliant share of dividends or gains.
Frequently asked questions
Is Enghouse Systems stock halal?
This screener gives Enghouse Systems Limited (TSX: ENGH) a PASS. The Markham, Ontario enterprise-software vendor — contact-centre and video communications (Interactive Management Group) plus asset- and risk-management software for financial institutions (Asset Management Group) — has no weapons, gambling, alcohol, tobacco, pork or adult-entertainment exposure. Both ratio gates clear: lease obligations of ~C$8.0 million are ~0.9% of the ~C$902 million market cap, and finance income of C$1.72 million in Q3 fiscal 2026 is ~1.5% of revenue — both under their ceilings. Note: the primary filings label the income line 'Finance income', not 'interest income'.
What are Enghouse Systems' debt and market-cap figures?
As at July 31, 2026 (Q3 fiscal 2026, in Canadian dollars): Enghouse has no external debt at all — no credit facility, term loan or debenture lines — only lease obligations of C$4.02 million current + C$4.01 million non-current = about C$8.0 million; it held C$267.8 million in cash, cash equivalents and short-term investments. Market cap is about C$902 million (C$16.74 TSX close on September 25, 2026 × about 53.9 million shares). The ratio is about 0.9% — far under the ~33% ceiling.
Does Enghouse Systems earn interest income?
The Q3 fiscal 2026 income statement reports a standalone 'Finance income' line — C$1.72 million in Q3 and C$4.88 million for the nine months — with foreign exchange reported separately, so it excludes FX. The filings do not label the line 'interest income' or break it down. Even treating the entire line as interest-like, it is ~1.46% of Q3 revenue (C$117.58 million) and ~1.39% of nine-month revenue — under the ~5% ceiling.
Do any third-party screeners cover Enghouse Systems?
No Musaffa, Zoya or ShariaPortfolio rating for ENGH could be verified as of September 2026. This screener is independent.
What could change Enghouse Systems' halal screener?
New external debt taken on for acquisitions (Enghouse grows by acquisition — e.g. Lifesize, Qumu) would change the debt gate, and a breakdown showing finance income is mostly non-interest income would only help the income gate. This screener is a snapshot dated September 29, 2026 and is re-checked quarterly after earnings.