Forward Water Technologies Corp

FWTC.V

Compliant
Exchange
Sector
Headquarters
Group
TSX
Industrials
Canada
Micro cap

Forward Water Technologies Corp is Shariah Compliant. It passes 5/5 Shariah standards we screen against.

0.52%

Impure Income*

$0.000

Purification*

$0.001

Zakat*

Financials

Market cap Group
Analysts' Rating
Price Target (Mean)
Price Target (Low)
Price Target (High)
Total Analysts
Micro cap
0
$0.00
$0.00
$0.00
0
Revenue Growth
Operating Margin
Net Profit Margin
Quick Ratio
Current Ratio
EPS Growth
107.52%
-3081.74%
-3091.06%
0.00
0.16
0.00%

Shariah Compliance

  • Updated on April 14, 2025
Debt
17.1%
✓
Non-Compliant Assets
✓
Impure Income
0.52%
✓

AAOIFI Rulebook:

  • Non-compliant Liabilities (like Interest-based Debt) < 30% of Market cap
  • Non-compliant Assets (like Interest-based Investments) < 30% of Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: AAOIFI SS21

Debt
8.45%
✓
Impure Income
0.52%
✓

S&P Sharia Rulebook:

  • Interest-based Debt < 33% of 36-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: S&P Shariah Methodology

Debt
12.33%
✓
Impure Income
0.52%
✓

Dow Jones Islamic Market (DJIM) Rulebook:

  • Interest-based Debt < 33% of 24-mo avg. Market cap
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: DJIM Methodology

Debt
10.79%
✓
Cash
24.84%
✓
Cash & AR
24.97%
✓
Impure Income
0.52%
✓

FTSE Shariah Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 50% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: FTSE RUSSELL

Debt
10.79%
✓
Cash
24.84%
✓
Cash & AR
24.97%
✓
Impure Income
0.52%
✓

MSCI Islamic Rulebook:

  • Interest-based Debt < 33.33% of Total Assets
  • Cash and interest-bearing items < 33.33% of Total Assets
  • Accounts receivable and cash < 33.33% of Total Assets
  • Impure Revenues (incl. Interest Income) < 5% of Total Revenues

Source: MSCI Islamic Indexes

Impure Income Breakdown

-
-
Interest Income
0.52%

Note on Purification and Zakat:

  • Purification and Zakat (for long-term investing) calculations are in USD per share and based on AAOIFI methodology. AAOIFI requires purification every financial period (e.g. quarterly). 
  • If you follow S&P Shariah’s Dividend-only purification, then remove the impure income % from the dividends you receive. No purification required for non-dividend paying stocks, according to S&P Shariah.
  • For Zakat, if you did not invest in a company from a long term perspective, then consider the shares as trading goods and give 2.5% of the total value if a year has passed on them. 

Company Profile

Forward Water Technologies Corp. is a Canada-based company, which is engaged in the commercialization of its forward osmosis (FO) technology. The Company’s technology allows for the reduction of challenging waste streams and simultaneously returning fresh water for re-use or surface release. It is focused on the implementation of its technology in multiple sectors, including industrial wastewater, oil and gas, direct lithium extraction (DLE), mining, agriculture and municipal water supply and re-use market sectors. In addition, it has initiated early-stage research and development for the treatment of food and beverage process streams. The FO is a natural membrane process found in nature capable of extracting pure water from impure sources. Its services include lab & pilot plant services, operation services and mobile FO services. It serves various industries, including lithium, mining, brine management, oil and gas and zero-liquid discharge (ZLD)/minimal liquid discharge (MLD).

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