Is TFI International / TFII Halal?
TFI International Inc. (TSX/NYSE: TFII) is a Montreal-based transportation and logistics holding company — less-than-truckload, truckload, package and courier, and logistics services across North America. Freight clears gate one, and ~17.4% debt-to-market-cap with no interest income disclosed clears gate two.
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
TFI moves freight for other businesses — manufacturers, retailers, wholesalers, and e-commerce shippers — through a network of operating companies running company-owned equipment and third-party carriers. Transportation and logistics are permissible business activities under AAOIFI-style screens. Gate one: PASS.
Gate two: the ratios — PASS
Debt-to-market-cap: ~17.4% (ceiling ~33%) — PASS. The June 30, 2026 balance sheet shows C$2,259 million of long-term debt, C$192.53 million due within one year, and C$4.54 million of short-term debt — about C$2.46 billion of interest-bearing debt. Against a market cap of roughly C$14.16 billion on September 28, 2026, the ratio is about 17.4%. Funded debt to EBITDA ended the quarter at 2.4 times, down from 2.5 times at the start of the year.
Non-compliant income: ~0% (ceiling ~5%) — PASS. TFI's Q2 2026 filing reports net finance costs of US$40.2 million — a net cost, not income — with no separate interest income disclosed; all revenue comes from the three freight/logistics segments (US$1.9 billion before fuel surcharge). Gate two: PASS.
What other screeners say
No verified current third-party rating was found for TFI International on Zoya, Musaffa, or ShariaPortfolio as of September 2026. The PASS rating here rests on this site's own screening methodology, not on a third-party endorsement.
The bottom line
This screener gives TFI International Inc. (TSX: TFII) a PASS. Q2 2026 (reported July 27, 2026) delivered revenue of C$2.9 billion (+12.4%), operating profit of C$220.4 million (+29.5%), net income attributable to common shareholders of C$136.2 million (+38.7%), and diluted EPS of C$1.65 (+41%). The quarterly dividend was raised 4% to C$0.47, declared June 15, 2026 and paid July 15, 2026. The company generated over C$200 million of free cash flow in the quarter. Snapshot dated September 28, 2026; re-checked quarterly after earnings.
The purification angle: TFI's non-compliant income is effectively zero, so dividend purification math is negligible — but if you want to run the numbers on any dividend, the purification calculator is here.
Frequently asked questions
Is TFI International stock halal?
This screener gives TFI International Inc. (TSX: TFII) a PASS. Freight and logistics clears the business-activity screen, and the ratio math clears: about C$2.46 billion of interest-bearing debt against about C$14.16 billion of market cap gives roughly 17.4%, under the ~33% ceiling, with no interest income disclosed and net finance costs a net expense.
What are TFI International's debt and market-cap figures?
TFI's June 30, 2026 balance sheet shows C$2,259 million of long-term debt, C$192.53 million of long-term debt due within one year, and C$4.54 million of short-term debt — about C$2.46 billion of interest-bearing debt. Against a market cap of roughly C$14.16 billion on September 28, 2026, the debt-to-market-cap ratio is about 17.4%, under the ~33% AAOIFI ceiling.
Does TFI International earn interest income?
TFI's Q2 2026 filing reports net finance costs of US$40.2 million — a net cost, not income — with no separate interest income disclosed. All reported revenue comes from the three freight/logistics segments (US$1.9 billion before fuel surcharge). On the disclosed figures, non-compliant income is negligible, well under the ~5% screen.
Do any third-party screeners agree with this screener?
No verified current third-party rating was found for TFI International on Zoya, Musaffa, or ShariaPortfolio as of September 2026. The PASS rating here rests on this site's own screening methodology, not on a third-party endorsement.
What could change TFI International's halal screener?
TFI grows by acquisition — a large debt-funded deal that pushes the debt-to-market-cap ratio above ~33% would be the main risk. Funded debt to EBITDA ended June 2026 at 2.4 times, down from 2.5 times at the start of the year. Any move into non-compliant business lines would also flip gate one. This screener is a snapshot dated September 28, 2026 and is re-checked quarterly after earnings.