TMX Group Limited (X.TO) is currently considered not halal (non-compliant), per In-house ratio engine (last assessed 2026-08-27). See the full ratio breakdown and business-activity screen below for the reasoning.
⚠️ Financial ratios are only half the screen, and this verdict does not rest on them. Our business-activity screen classifies TMX Group Limited under conventional finance, which is an excluded sector — so the verdict is non-compliant even though some ratios below pass. Business activity is a hard gate that ratio math never captures.
Computed from published company financials, balance sheet as of 2025-12-31. X.TO files no SEC reports, so these ratios come from the issuer's own published statements rather than XBRL.
Business activity: conventional_finance
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 14.58% | 30.00% | Pass |
| Interest-bearing investments | 3.45% | 30.00% | Pass |
| Non-permissible income | 71.04% | 5.00% | Fail |
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 4.50% | 33.00% | Pass |
| Interest-bearing investments | 1.01% | 33.00% | Pass |
| Non-liquid assets | 98.59% | at least 20.00% | Pass |
| Non-permissible income | 71.04% | 5.00% | Fail |
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 4.28% | 33.33% | Pass |
| Cash + interest-bearing securities | 1.01% | 33.33% | Pass |
| Accounts receivable | 1.41% | 33.33% | Pass |
| Non-permissible income | 71.04% | 5.00% | Fail |
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 4.28% | 33.33% | Pass |
| Cash + interest-bearing securities | 1.01% | 33.33% | Pass |
| Accounts receivable | 1.41% | 50.00% | Pass |
| Non-permissible income | 71.04% | 5.00% | Fail |
Scored against a trailing-average market cap (24-month), share-weighted by the issuer's own reported share counts — not today's market cap.
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 15.44% | 33.00% | Pass |
| Cash + interest-bearing securities | 3.65% | 33.00% | Pass |
| Accounts receivable | 1.43% | 33.00% | Pass |
| Non-permissible income | 71.04% | 5.00% | Fail |
Scored against a trailing-average market cap (36-month), share-weighted by the issuer's own reported share counts — not today's market cap.
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 17.36% | 33.00% | Pass |
| Cash + interest-bearing securities | 4.11% | 49.00% | Pass |
| Accounts receivable | 1.60% | 49.00% | Pass |
| Non-permissible income | 71.04% | 5.00% | Fail |
Scored against a trailing-average market cap (36-month), share-weighted by the issuer's own reported share counts — not today's market cap.
| Ratio | Value | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 17.36% | 33.33% | Pass |
| Cash + interest-bearing securities | 4.11% | 33.33% | Pass |
| Accounts receivable | 5.71% | 49.00% | Pass |
| Non-permissible income | 71.04% | 5.00% | Fail |
Research only, not investment advice. Thresholds are each standard-setter's published limits; a ratio marked “at least” is a floor, not a ceiling.
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Classic floor-trader pivots from the last completed daily bar. Highlighted pills are the levels bracketing the current price.
The range is measured volatility (ATR over the horizon), not a target — a wider band means a more volatile asset, not a stronger view. The direction is the indicator tally above. Every forecast is recorded when made and scored against the real price when it comes due, including the wrong ones. Not a recommendation, and not a fatwa.
| Indicator | Value | Signal |
|---|---|---|
| RSI (14) | 46.00 | NEUTRAL |
| Stochastic %K (14) | 11.45 | BUY |
| CCI (20) | -104.30 | BUY |
| Williams %R (14) | -88.55 | BUY |
| MACD (12,26,9) | -0.29 | SELL |
| ROC (10) | -4.26 | SELL |
| Momentum (10) | -2.33 | SELL |
| EMA (10) | 53.25 | SELL |
| SMA (10) | 53.61 | SELL |
| EMA (20) | 53.12 | SELL |
| SMA (20) | 53.43 | SELL |
| EMA (30) | 52.74 | SELL |
| SMA (30) | 53.02 | SELL |
| EMA (50) | 52.10 | BUY |
| SMA (50) | 51.40 | BUY |
| EMA (100) | 51.31 | BUY |
| SMA (100) | 51.47 | BUY |
| EMA (200) | 50.72 | BUY |
| SMA (200) | 50.27 | BUY |
Standard indicator thresholds (RSI 30/70, Stochastic 20/80, CCI ±100, Williams %R −80/−20, MACD histogram sign, price vs. average) computed on daily bars. A summary of what common indicators say — not a recommendation, and not this site's own trading verdict.
Financial Services · Financial Data & Stock Exchanges
TMX Group Limited operates exchanges, markets, and clearinghouses primarily for capital markets in Canada, the United States, the United Kingdom, Germany, and internationally. It operates in four segments: Global Insights; Capital Formation; Derivatives Trading & Clearing; and Equities and Fixed Income Trading & Clearing. The company delivers equities and index data, as well as integrated data sets for the proprietary and third-party analytics to help clients in making trading and investment decisions; and provides solutions to European and global wholesale energy markets for price discovery, trade execution, post-trade transparency, and straight through processing. It also operates Toronto Stock Exchange, a national stock exchange for the senior equities market; TSX Venture Exchange, a national stock exchange for the public venture equity market; TSX Trust that provides corporate trust, registrar, transfer agency, and foreign exchange services; and Newsfile, a news dissemination and regulatory filing provider. In addition, the company operates Montreal Exchange, a national derivatives exchange; Canadian Derivatives Clearing Corporation, a clearinghouse for options and futures contracts; BOX, a US equity operations market; and various over-the-counter products and fixed income repurchase agreements. Further, it engages in the trading operations of Toronto Stock Exchange, TSX Venture Exchange, and Alpha Exchange; CDS Clearing, an automated facility for the clearing and settlement of equities and fixed income transactions, and custody of securities; and provision of fixed income inter-dealer brokerage services, as well as involved in trading operation of AlphaX U.S., a broker-dealer. The company was formerly known as Maple Group Acquisition Corporation and changed its name to TMX Group Limited in August 2012. TMX Group Limited was incorporated in 2011 and is headquartered in Toronto, Canada.
Background via Yahoo Finance — informational, not part of the verdict.
Peer movement computing — it will appear here on its own.
NO DATA 0 buys · 0 sells
NEUTRAL report date 2026-09-01 · Asset managers net 934180 (-19048)
Plain-language summary of the evidence already on this page — the Sharia screen, structure, momentum, and order flow above. It explains the read; it doesn't make the call. Generated on demand (a live AI call), never run automatically.