Is Spin Master / TOY Halal?
Spin Master Corp. (TSX: TOY) makes Paw Patrol and Rubik's Cube toys plus kids' digital games like Toca Boca. Toys and children's entertainment are permissible businesses — and the debt left over from the Melissa & Doug acquisition is well under the screen.
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, 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 — PASS
Spin Master's three creative centres are toys (Paw Patrol, Rubik's Cube, Melissa & Doug, Bakugan), entertainment, and digital games (Toca Boca). Toys, children's entertainment, and kids' games are permissible businesses. Gate one: PASS.
Gate two: the ratios — PASS
Debt-to-market-cap: ~11.7% (ceiling ~33%) — PASS. At June 30, 2026, Spin Master reported US$167.9 million of loans and borrowings (down from US$264.1 million at year-end 2025) — roughly C$230 million at ~C$1.37 per US$, or about 11.7% of the ~C$1.96 billion market cap (TSX: TOY near C$19.64 in late September 2026).
Interest income: ~0.3% of revenue (ceiling ~5%) — PASS. Interest income of US$2.2 million for the six months ended June 30, 2026, against revenue of US$764.9 million, is roughly 0.3%. Gate two: PASS.
The bottom line
This screener gives Spin Master Corp. (TSX: TOY) a PASS. Q2 2026 (reported July 30, 2026) swung back to net income of US$29.7 million on revenue of US$436.4 million, with operating cash flow of US$160.7 million — and leverage is low. No public Shariah rating from Zoya, Musaffa, or ShariaPortfolio was located for this ticker; this is our independent screening, not a fatwa. Snapshot dated September 28, 2026; re-checked quarterly after earnings.
What could flip it: another large debt-financed acquisition, or a deep share-price slide — the 52-week low was C$17.13. See all the screeners on the screeners hub.
Frequently asked questions
Is Spin Master stock halal?
This screener gives Spin Master Corp. (TSX: TOY) a PASS. Toys, kids' entertainment, and digital games clear the business-activity screen; loans and borrowings of about US$168 million are roughly 11.7% of a ~C$1.96 billion market cap — under the ~33% AAOIFI ceiling; and interest income of US$2.2 million is roughly 0.3% of US$764.9 million in revenue for the six months ended June 30, 2026 — under the ~5% screen. This is an independent screening, not a fatwa.
What are Spin Master's debt and market-cap figures?
At June 30, 2026, Spin Master reported loans and borrowings of US$167.9 million (US$264.1 million at year-end 2025, before Q2 repayments) — roughly C$230 million at ~C$1.37 per US$, or about 11.7% of the ~C$1.96 billion market cap (TSX: TOY near C$19.64 in late September 2026) — under the ~33% AAOIFI ceiling.
Does Spin Master earn interest income?
Spin Master reports US$2.2 million of interest income for the six months ended June 30, 2026 — against revenue of US$764.9 million, that is roughly 0.3% — well under the ~5% screen.
What could change Spin Master's halal screener?
Spin Master financed its Melissa & Doug acquisition with debt in late 2023 and has been repaying it; another large debt-financed acquisition, or a deep share-price slide, could push the debt ratio toward the ~33% ceiling. This screener is a snapshot dated September 28, 2026 and is re-checked quarterly after earnings; Q3 2026 results are due around October 29, 2026.
What do Zoya, Musaffa, and ShariaPortfolio say?
No verified current third-party verdict on Spin Master was found in public sources during our September 2026 research — not on Zoya, Musaffa, or ShariaPortfolio. Our PASS result is an independent application of the AAOIFI-style screen; consult a scholar or screener of your choice before investing.