Is Wajax (WJX) halal?
Wajax Corporation (TSX: WJX) is a Canadian industrial distributor whose debt is about 23.9% of market cap (under the ~33% ceiling) with about 0.06% interest income — so it passes both gates: PASS.
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 — no haram lines identified
Wajax is a Canadian industrial distributor and service provider: it 'operates an integrated distribution system, providing sales, parts and services to a broad range of customers in diversified sectors of the Canadian economy, including: construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government and utilities, and oil and gas.' Segments: Heavy Equipment, Industrial Parts, and Engineered Repair Services (ERS). Q2 2026: product support revenue +6.9%, ERS +2.9%; equipment sales −22.3% (lumpy mining-shovel deliveries). The FS lists the registered head office at 10 Diesel Drive, Toronto, Ontario. No alcohol, gambling, pork, conventional-finance, entertainment, or weapons lines are disclosed.
Gate two: the ratios — both gates pass
At June 30, 2026 (Q2 2026 FS): long-term debt (bank credit facility borrowings) of C$179.749 million; cash of C$4.843 million. Lease liabilities are disclosed as a separate line: C$193.8 million (current C$45.5 million plus non-current C$148.3 million) — a branch-heavy distributor. With about 21.8 million shares at C$34.51 (September 28–29, 2026), market cap is about C$752.9 million, so debt-to-market-cap is about 23.9% — under the ~33% ceiling. Counted with lease liabilities as debt, the ratio would be about 49.6% — a methodology fork to be aware of; this screener follows the pipeline's current practice of counting leases separately (as for RUS, TXG, and CEU), with the lease figure disclosed. Interest income is disclosed in Note 18: 'interest income on lease receivables' of C$299 thousand in Q2 2026 and C$614 thousand in H1 2026 — about 0.06% of revenue (Q2 C$515.7 million; H1 C$1,017.7 million), well under ~5%. Note: this is interest earned on customer finance-lease receivables — the financing component of its equipment-selling business — not conventional bank-deposit interest; the cash-flow statement corroborates the figures as 'interest collected on lease receivables'.
What other screeners say
No Zoya, Musaffa, or ShariaPortfolio coverage of Wajax (WJX) was found in direct searches — Zoya and Musaffa have no coverage page for the name, and ShariaPortfolio does not cover Canadian TSX names. No third-party rating is claimed here.
The bottom line
This screener gives Wajax Corporation (TSX: WJX) a PASS. Interest-bearing debt of about 23.9% of market cap is under the ~33% ceiling, and interest income of about 0.06% of revenue is well under ~5%. Lease liabilities of C$193.8 million are disclosed separately (~49.6% if counted as debt) — watch this at quarterly re-screens. Snapshot dated September 29, 2026; re-checked quarterly after earnings.
Sources
Frequently asked questions
Is Wajax stock halal?
Yes, on current filings — Wajax Corporation (TSX: WJX) passes both gates. It is a Canadian industrial distributor and service provider with no haram business lines. Interest-bearing debt of C$179.7 million is about 23.9% of its ~C$752.9 million market cap (under the ~33% ceiling), and interest income is about 0.06% of revenue (under ~5%). Lease liabilities of C$193.8 million are disclosed separately — counted as debt, the ratio would be about 49.6%. No current Zoya, Musaffa, or ShariaPortfolio rating for Wajax could be verified. Consult a qualified scholar.
What are Wajax's debt and market-cap figures?
At June 30, 2026 (Q2 2026 FS): long-term debt (bank credit facility borrowings) of C$179.749 million; cash of C$4.843 million. Lease liabilities (separate line) are C$193.8 million — current C$45.5 million plus non-current C$148.3 million. Market cap is about C$752.9 million (~21.8 million shares at C$34.51, September 28–29, 2026). Debt-to-market-cap is about 23.9% excluding leases (under the ~33% ceiling); about 49.6% if lease liabilities are counted as debt — a methodology fork to be aware of. This screener follows the pipeline's current practice of counting leases separately, as for RUS, TXG, and CEU.
How much interest income does Wajax earn?
Interest income is disclosed in Note 18 of the Q2 2026 FS: 'interest income on lease receivables' of C$299 thousand in Q2 2026 and C$614 thousand in H1 2026 — about 0.06% of revenue (Q2 revenue C$515.7 million; H1 revenue C$1,017.7 million), well under ~5%. Note: this is interest earned on customer finance-lease receivables — the financing component of its equipment-selling business — not conventional bank-deposit interest. The cash-flow statement corroborates the C$299k/C$614k as 'interest collected on lease receivables'.
What does Wajax do?
Wajax is a Canadian industrial distributor and service provider: it 'operates an integrated distribution system, providing sales, parts and services to a broad range of customers in diversified sectors of the Canadian economy, including: construction, forestry, mining, industrial and commercial, oil sands, transportation, metal processing, government and utilities, and oil and gas.' Segments: Heavy Equipment, Industrial Parts, and Engineered Repair Services (ERS). Q2 2026: product support revenue +6.9%, ERS +2.9%; equipment sales −22.3% (lumpy mining-shovel deliveries). The FS lists the registered head office at 10 Diesel Drive, Toronto, Ontario. No haram business segments are disclosed.
What do Zoya, Musaffa, and ShariaPortfolio say about WJX?
No Zoya, Musaffa, or ShariaPortfolio coverage of Wajax (WJX) was found in direct searches — Zoya and Musaffa have no coverage page for the name, and ShariaPortfolio does not cover Canadian TSX names. No third-party rating is claimed here.