ESTC
Elastic NV
Is ESTC Halal?
Search and analytics software — permissible enterprise technology.
What You Should Know
Elastic's fiscal 2026 filing reports $3,152.676 million of assets, $570.895 million of debt, and $1,370.262 million of cash plus identifiable securities. Search, observability, security and AI software are generally permissible, but liquidity/assets is above the examined limits and customer end use remains qualitative.
⚠️ Concerns
- •Liquidity/assets is 43.46% under the asset screen
- •Interest income is 2.98% of revenue
- •General-purpose AI, security and customer-use review
Current quantitative Sharia screen
Based on 10-K figures for the period ended 2026-04-30; calculated 2026-07-14.
570.895 / 3,152.676
1,370.262 / 3,152.676
1,233.138 / 3,152.676
51.8 / 1,739.331
- Financial
- Fails
- Overall
- Fails
Debt/assets is 18.11% and receivables plus cash/assets is 39.11%, while liquidity/assets is 43.46%, above the 33.333% examined liquidity limit.
- Financial
- Fails
- Overall
- Fails
Cash plus identifiable interest-bearing securities is 43.46%, above the examined MSCI liquidity limit; the business screen remains incomplete.
- Financial
- Fails
- Overall
- Fails
Identifiable conventional liquidity/assets is 43.46%, above the examined Malaysia SAC financial limit; this is a calculation, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed average-market-cap series is not stored; the asset-based liquidity screen fails independently.
Business-activity disclosure
Elastic sells search, observability, security and data-analytics software. Enterprise software infrastructure is generally permissible, but customer end use, security/AI deployment and any prohibited-sector revenue are not separately quantified.
Limitation: The filing does not isolate a scholar-approved prohibited-revenue numerator across customer end uses.
Purification
Elastic discloses $51.800 million of interest income, but ZakatInvest does not prescribe a scholar-approved purification percentage or substitute a methodology's treatment for individual advice.
Inputs, assumptions and primary sources
- Amounts are USD millions from Elastic's fiscal year ended April 30, 2026 Form 10-K.
- Marketable securities of $601.537 million are treated as identifiable interest-bearing securities; the filing describes debt securities and time deposits.
- Long-term debt is $570.895 million. Accounts receivable is $464.413 million and revenue is $1,739.331 million.
- Interest income is $51.800 million, approximately 2.98% of revenue. Search, observability, security and AI end-use revenue is not allocated into a universal prohibited-activity numerator.
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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