Is Interfor (IFP) halal?

Interfor (TSX: IFP) is a pure lumber and wood-products producer — the business gate passes. But interest-bearing debt of ~C$894.6 million is about 93.8% of the ~C$954 million market cap (over the ~33% ceiling) — a decisive ratio failure at any recent share price. Interest income of ~C$5.7 million is about 0.71% of Q2 2026 revenue of C$804.4 million (under the ~5% ceiling). This screener is a 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 — passes

Interfor Corporation, headquartered in Burnaby, BC, is one of the world's largest lumber producers. Its Q2 2026 interim report states it manages the business as a single operating segment — "solid wood products": harvesting and purchasing logs, then manufacturing lumber and other wood products at sawmills across BC, Ontario, New Brunswick, and the US Northwest and South. Q2 2026 sales were C$804.4 million (lumber and other wood products C$726.3 million; wood chips and byproducts C$58.3 million; logs C$15.3 million; timber management and other C$4.5 million), with about 84% of sales in the US. No haram business segments were found. The business gate passes.

Gate two: the ratios — debt fails decisively

At June 30, 2026: long-term debt was C$849.5 million and lease liabilities were C$45.1 million (current C$20.5 million + non-current C$24.6 million), for total interest-bearing debt of ~C$894.6 million; cash was C$32.8 million. With 65,766,951 shares outstanding at about C$14.51 per share (September 29, 2026), the market cap is about C$954 million — debt is about 93.8% of market cap, over the ~33% ceiling by a wide margin (about 89.0% even excluding leases, and still ~86.4% at the 52-week price high). Interest income (note 10: pension-asset interest C$0.6 million + other interest C$0.4 million + duty-deposit interest C$4.7 million) of ~C$5.7 million is about 0.71% of Q2 2026 revenue of C$804.4 million — under the ~5% ceiling. The debt gate fails decisively, so this screener is a FAIL.

What other screeners say

No coverage pages for IFP were found on Zoya, Musaffa, or ShariaPortfolio in targeted searches as of September 2026. This screener is based on Interfor's own filings.

The bottom line

This screener gives Interfor Corporation (TSX: IFP) a FAIL. A clean lumber business with no haram segment and low interest income, but debt at about 93.8% of market cap is far above the ~33% ceiling. Consult a qualified scholar. Snapshot dated September 29, 2026; re-checked quarterly after earnings.

Sources

Frequently asked questions

Is Interfor halal?

This screener gives it a FAIL. Interfor Corporation (TSX: IFP) is a pure lumber and wood-products producer with no haram business segment, so the business gate passes. But interest-bearing debt of ~C$894.6 million is about 93.8% of the ~C$954 million market cap (over the ~33% ceiling) — a decisive ratio failure at any recent share price. Interest income of ~C$5.7 million is about 0.71% of Q2 2026 revenue of C$804.4 million (under the ~5% ceiling), and no coverage was found from Zoya, Musaffa, or ShariaPortfolio. Consult a qualified scholar.

What does Interfor do?

Interfor Corporation, headquartered in Burnaby, BC, is one of the world's largest lumber producers. It manages its business as a single operating segment — solid wood products — harvesting and purchasing logs and manufacturing lumber and other wood products at sawmills across BC, Ontario, New Brunswick, and the US Northwest and South. In Q2 2026, sales were C$804.4 million: lumber and other wood products C$726.3 million, wood chips and other byproducts C$58.3 million, logs C$15.3 million, and timber management and other C$4.5 million. About 84% of sales were in the US. No alcohol, tobacco, gambling, pork, weapons, or conventional finance segments were found.

What are Interfor's debt and market-cap figures?

At June 30, 2026: long-term debt was C$849.5 million and lease liabilities were C$45.1 million (current C$20.5 million + non-current C$24.6 million), for total interest-bearing debt of ~C$894.6 million; cash was C$32.8 million. With 65,766,951 shares outstanding at about C$14.51 per share (September 29, 2026), market cap is about C$954 million — debt is about 93.8% of market cap (about 89.0% even excluding leases). The debt load includes a February 2026 refinancing: a C$30 million BDC-guaranteed term loan, an amended C$540 million revolving term line, and new US$75 million 8.00% senior secured notes.

What do Zoya, Musaffa, and ShariaPortfolio say about IFP?

No coverage pages for IFP were found on Zoya, Musaffa, or ShariaPortfolio in targeted searches as of September 2026. This screener is based on Interfor's own filings, not on a third-party rating.

What is the purification amount for Interfor's dividend?

Interfor does not currently pay a dividend, so there is no dividend to purify. Use the purification calculator only if a distribution is announced. Note that this stock fails the Shariah screen on the debt ratio, so purification arithmetic does not apply in the usual sense.