Is TPA Holding I A/S stock halal?
Prohibited
Thresholds exceeded under all standards, and the strict view excludes it.
This verdict follows the median view, that of AAOIFI Standard No. 21. It is based on the financial statements for the fiscal year ended 12/31/2025.
The ratios
| Criterion | Measure | Threshold | Result |
|---|---|---|---|
| Interest-bearing debt | 55.1% of total assets | 30% | threshold exceeded |
| Interest-bearing investments | 1.6% of total assets | 30% | within threshold |
| Impermissible income | not published | 5% | to be verified |
Standard: Total assets, 30% threshold.
The three views
- Median view, our reference : the company is excluded.
- Strictest view : the company is excluded, because it borrows or invests at interest.
- Most lenient view : the company is excluded.
Business activity
Activity not classified (no sector code in European filings)
Financial statements read
Fiscal year ended 12/31/2025, in millions of dollars. Source: Annual report of TPA Holding I A/S (ESEF format), fiscal year ended 2025-12-31.
What could not be verified
- Market capitalization: missing from the filed financial statements, so the AAOIFI ratio is not computed; tolerance is assessed on total assets.
- Interest received: amount not isolated in the filed financial statements.
- Activity not classified: European filings carry no sector code.
- Figures read automatically and not reviewed by a human.
General information: neither investment advice nor a fatwa. Verdict calculated by published rules, from financial statements read automatically and not reviewed by a human. Read the methodology