CVLT
Commvault Systems, Inc.
Is CVLT Halal?
Cloud data-protection and software services — generally permissible activity, but the current debt, liquidity and receivables screens fail.
What You Should Know
Commvault's March 31, 2026 Form 10-K reports assets of $1,886.305 million, convertible notes of $880.863 million, cash of $899.987 million, receivables of $330.483 million and fiscal-year revenue of $1,183.690 million. Debt/assets is 46.70%, liquidity/assets is 47.71%, receivables plus cash/assets is 65.23% and disclosed interest income is 1.84% of revenue; the examined asset-based financial screens fail. No universal prohibited-revenue numerator is disclosed.
⚠️ Concerns
- •Debt/assets is 46.70%, above examined one-third limits
- •Liquidity/assets is 47.71% and receivables-plus-cash/assets is 65.23%
- •Convertible-note leverage and large cash balance
- •Government, surveillance, cybersecurity and customer end uses require qualitative review
- •Disclosed interest income is 1.84% of fiscal-year revenue; no fixed purification percentage asserted
Current quantitative Sharia screen
Based on 10-K figures for the period ended 2026-03-31; calculated 2026-07-15.
880.863 / 1,886.305
899.987 / 1,886.305
1,230.47 / 1,886.305
21.81 / 1,183.69
- Financial
- Fails
- Overall
- Fails
Debt/assets is 46.70% and liquidity/assets is 47.71%, both above the examined FTSE limits; receivables-plus-cash/assets is 65.23%.
- Financial
- Fails
- Overall
- Fails
Debt/assets, liquidity/assets and receivables-plus-cash/assets are above the examined MSCI limits; this is not an index-membership claim.
- Financial
- Fails
- Overall
- Fails
Debt/assets and identifiable liquidity/assets are above the examined Malaysia limits; this is a calculation against SAC ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Incomplete
A licensed historical market-cap series is not stored; the filing-based asset-ratio failures are documented independently.
Business-activity disclosure
Commvault provides data-protection, backup, cyber-resilience, cloud and information-management software and services. The core software activity is generally permissible, but the filing does not provide a universal prohibited-revenue numerator for customer or end uses.
Limitation: No universal prohibited-activity revenue numerator or scholar-specific purification percentage is disclosed; government, surveillance, security and customer end-use allocation remains qualitative.
Purification
The filing discloses $21.810 million of interest income; ZakatInvest does not prescribe a fixed scholar-approved purification percentage.
Inputs, assumptions and primary sources
- Amounts are USD millions from Commvault's March 31, 2026 Form 10-K.
- Interest-bearing debt is $880.863 million of convertible notes, net of issuance costs; operating leases are excluded.
- Cash and cash equivalents are $899.987 million and trade accounts receivable are $330.483 million; no separate interest-bearing securities balance is identified.
- Fiscal-year revenue is $1,183.690 million and disclosed interest income is $21.810 million (1.84% of revenue).
- Cloud, data-protection and software activity is retained as qualitative analysis; no universal prohibited-revenue numerator is disclosed.
This is a reproducible financial screen, not a fatwa. A failed total-assets screen can coexist with a pass under a market-cap methodology. ZakatInvest keeps the qualitative assessment separate so numerical thresholds do not erase material context.
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