TSX Shariah screener · October 2026
Is McCoy Global Inc. (MCB) Halal?
McCoy Global Inc. · TSX: MCB · Energy
The short answer
McCoy Global Inc. (TSX: MCB) is a PASS in our October 2026 screen — all three gates pass. The business gate passes (equipment and technologies for tubular running operations and wellbore integrity in oil and gas drilling). The debt gate passes: at June 30, 2026 the company has zero borrowings (old facility repaid; new US$10M facility undrawn) and only C$2.247M of lease liabilities with $8.3M net cash, so debt is ~3.7% of its ~C$61.4M market cap — far under the ~33% ceiling. The income gate passes: FY2025 finance income of C$145k is ~0.17% of C$83.8M revenue, well under the ~5% ceiling.
Gate 1 — Business activity: PASS
McCoy Global designs and sells equipment and technologies for tubular running operations and wellbore integrity — hydraulic power tongs, bucking units, its smarTR™ automated tubular-running system, plus data-collection sensors for harsh environments — used mainly during well construction for land and offshore oil and gas wells, with repair, calibration, rental and aftermarket parts services (per Note 1 of the Q2 2026 interim statements). Oil and gas equipment manufacturing 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: PASS
At June 30, 2026 the balance sheet shows zero borrowings — the old revolving demand facility was fully repaid and terminated in Q2 2026, and the new US$10M asset-based facility had nothing drawn. The only interest-bearing debt is lease liabilities of C$2.247M (C$1.881M current + C$0.366M non-current), with $8.3M of net cash. Against a ~C$61.4M market cap (C$2.26 close on Sept 30, 2026 × 27,177,827 shares), the debt ratio is ~3.7% — far under the ~33% ceiling. Gate 2 passes. Facts only.
Gate 3 — Non-compliant income: PASS
The Q2 2026 interim statements do not break out interest income separately — the income-statement line is 'Finance charges, net' of C$264k (an expense) for H1 2026. The most recent filing that discloses it is the audited FY2025 statements (Note 18): finance income of C$145k. Against FY2025 revenue of C$83.8M, that is about 0.17% — well under the ~5% ceiling. Gate 3 passes. Facts only.
Key figures used
- Zero borrowings at Jun 30, 2026 (old facility repaid and terminated; new US$10M ABL facility undrawn); lease liabilities C$2.247M; net cash $8.3M.
- Debt ≈ 3.7% of ~C$61.4M market cap (C$2.26 close Sep 30, 2026 × 27,177,827 shares).
- FY2025 revenue C$83.8M; finance income C$145k ≈ 0.17%. Q2 2026 revenue C$17.2M; H1 2026 finance charges net C$264k (expense, not broken out).
- smartProduct revenue 61% of Q2 2026 revenue; booked backlog C$18.4M at Jun 30, 2026.
- TSX-approved normal course issuer bid Aug 20, 2026 (up to 2,668,120 shares).
- No Zoya, Musaffa or ShariaPortfolio rating found for MCB.
Frequently asked questions
Is McCoy Global (MCB) halal?
Our October 2026 screen gives McCoy Global (MCB) a PASS. All three gates pass: the business is wellbore-construction equipment for oil and gas drilling (permissible), interest-bearing debt of C$2.247M (lease liabilities only) is ~3.7% of its ~C$61.4M market cap - far under the ~33% ceiling, and FY2025 finance income of C$145k is only ~0.17% of C$83.8M revenue - well under the ~5% ceiling. No Musaffa/Zoya/ShariaPortfolio rating was found.
Why did McCoy Global pass the debt gate?
At June 30, 2026 the balance sheet shows <strong>zero borrowings</strong> - the old revolving demand facility was fully repaid and terminated in Q2 2026, and the new US$10M asset-based facility had nothing drawn. The only interest-bearing debt is <strong>lease liabilities of C$2.247M</strong> (C$1.881M current + C$0.366M non-current). Against a ~C$61.4M market cap (C$2.26 close on Sept 30, 2026 x 27,177,827 shares), that is <strong>~3.7%</strong> - far under the ~33% ceiling. The company also reports $8.3M of net cash. Gate 2 <strong>passes</strong>.
What does McCoy Global do?
McCoy designs and sells equipment and technologies for tubular running operations and wellbore integrity - hydraulic power tongs, bucking units, its smarTR automated tubular-running system, plus data-collection sensors for harsh environments. Its tools are used mainly during well construction for land and offshore oil and gas wells, with repair, calibration, rental and aftermarket parts services. Oil and gas equipment manufacturing is a permissible business; no alcohol, pork, gambling, conventional finance, tobacco, cannabis or weapons lines. Gate 1 <strong>passes</strong>.
Is McCoy Global's interest income compliant?
The Q2 2026 interim statements do not break out interest income separately - the income-statement line is 'Finance charges, net' of C$264k (an expense) for H1 2026. The most recent filing that discloses it is the audited FY2025 statements (Note 18): <strong>finance income of C$145k</strong>. Against FY2025 revenue of <strong>C$83.8M</strong>, that is about <strong>0.17%</strong> - well under the ~5% ceiling. Gate 3 <strong>passes</strong>.
Where can I find more energy stock screeners?
See our full list of stock screeners at halal-stock-verdicts.html, which covers every company screened so far.
Sources
- McCoy Q2 2026 interim financial statements (Quartr PDF, Aug 2026: zero borrowings, lease liabilities C$2,247k, H1 revenue C$26,601k, 27,177,827 shares, Note 1 business description)
- McCoy Q2 2026 results (newswire.ca, Aug 7, 2026: no debt, $8.3M net cash, revenue $17.2M)
- McCoy 2025 audited financial statements, Note 18 (atom-wealth/SEDAR+: finance income C$145k, FY2025 revenue C$83,779k)
- MCB.TO close C$2.26 on Sept 30, 2026 (Finnhub market data)
- Kernwood Limited early warning, Sep 22, 2026 (10.2642% holding confirms share count)
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.