Is Toromont / TIH Halal?
Toromont Industries Ltd. (TSX: TIH) is the Caterpillar equipment dealer for much of Canada plus the CIMCO industrial refrigeration business. It is also one of the least leveraged companies in this screener database — net cash positive, with ~4% gross debt-to-market-cap.
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
Toromont's Equipment Group sells, rents, and services Caterpillar heavy machinery across Canada and internationally; CIMCO designs and installs industrial refrigeration systems. Heavy-equipment dealership and refrigeration engineering are permissible business activities under AAOIFI-style screens. Gate one: PASS.
Gate two: the ratios — PASS
Debt-to-market-cap: ~4% (ceiling ~33%) — PASS. Toromont reported long-term debt of C$796,924 thousand (about C$0.797 billion) at June 30, 2026 with no current portion — and with cash and cash equivalents of C$1.187 billion, net debt is negative C$390.6 million: the company holds more cash than debt. Against the company-reported market cap of about C$19.02 billion at June 30, 2026, the gross debt-to-market-cap ratio is about 4%.
Non-compliant income: ~0.7% (ceiling ~5%) — PASS. Q2 2026 (reported July 28, 2026) showed interest and investment income of C$10.464 million against revenue of C$1,597.7 million — about 0.7%. The interest comes from cash balances, not lending. Gate two: PASS.
What other screeners say
No verified current third-party rating was found for Toromont 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 Toromont Industries Ltd. (TSX: TIH) a PASS. Q2 2026 delivered net earnings of C$124.5 million and revenue of C$1.60 billion; the balance sheet is net cash positive with a 15.2% operating margin. One of the cleanest screens in the database. Snapshot dated September 28, 2026; re-checked quarterly after earnings.
The purification angle: Toromont's non-compliant income is about 0.7% of revenue, so dividend purification math is tiny — but if you want to run the numbers, the purification calculator is here.
Frequently asked questions
Is Toromont stock halal?
This screener gives Toromont Industries Ltd. (TSX: TIH) a PASS. The Caterpillar equipment dealership and CIMCO refrigeration business clear the business-activity screen, and the ratio math clears: about C$0.797 billion of long-term debt at June 30, 2026 against a market cap of about C$19.02 billion at June 30, 2026 — roughly 4%, under the ~33% ceiling, with interest and investment income at about 0.7% of revenue, under the ~5% screen.
What are Toromont's debt and market-cap figures?
Toromont reported long-term debt of C$796,924 thousand (about C$0.797 billion) at June 30, 2026 with no current portion — and with cash of C$1.187 billion, net debt is negative C$390.6 million (the company holds more cash than debt). Against the company-reported market cap of about C$19.02 billion at June 30, 2026, the debt-to-market-cap ratio is about 4%, under the ~33% AAOIFI ceiling.
Does Toromont earn interest income?
Toromont reported interest and investment income of C$10.464 million in Q2 2026 against revenue of C$1,597.7 million — about 0.7%, under the ~5% screen. The company earns interest on its large cash balances rather than from lending, and the amount is negligible.
Do any third-party screeners agree with this screener?
No verified current third-party rating was found for Toromont 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 Toromont's halal screener?
Very little — Toromont is net cash positive with one of the lowest leverage ratios in this database, so a debt-driven FAIL would require a dramatic borrowing binge. Watch for any material new debt or a business-model shift. This screener is a snapshot dated September 28, 2026 and is re-checked quarterly after earnings.