NTAP
NetApp, Inc.
Is NTAP Halal?
Data storage and cloud infrastructure — enterprise technology is permissible.
What You Should Know
NetApp provides cloud-led data management and storage infrastructure for enterprises. Its April 24, 2026 Form 10-K reports $10,744 million of assets, $2,487 million of long-term senior-note debt, $2,070 million of cash, $1,514 million of short-term fixed-income investments, $1,286 million of receivables and $6,925 million of fiscal-year net revenue. Debt/assets is 23.15%, liquidity/assets is 33.36%, slightly above the examined FTSE, MSCI and Malaysia liquidity limits; receivables-plus-cash/assets is 31.24% and disclosed interest income is 1.63% of revenue. Core storage and cloud infrastructure remains generally permissible, but the current asset-based financial screens fail on liquidity.
⚠️ Concerns
- •Liquidity/assets is marginally above the examined FTSE, MSCI and Malaysia limits
- •Government/defense agency customers for storage (indirect)
- •Senior-note debt and fixed-income investments
- •Interest income on cash and investments
Current quantitative Sharia screen
Based on 10-K figures for the period ended 2026-04-24; calculated 2026-07-15.
2,487 / 10,744
3,584 / 10,744
3,356 / 10,744
113 / 6,925
- Financial
- Fails
- Overall
- Fails
Debt/assets is 23.15%, liquidity/assets is 33.36%, slightly above the examined FTSE 33.333% limit; receivables-plus-cash/assets is 31.24% and disclosed interest income is 1.63% of revenue.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 33.36%, above the examined MSCI 33.33% total-assets limit; debt/assets and receivables-plus-cash/assets remain below their limits.
- Financial
- Fails
- Overall
- Fails
Liquidity/assets is 33.36%, above the examined Malaysia 33% limit; debt/assets remains below its limit. This is a calculation against the named ratios, not an official classification.
- Financial
- Not calculated
- Overall
- Fails
A licensed historical market-cap series is not stored; the liquidity failure remains independently documented.
Business-activity disclosure
NetApp provides enterprise data-storage systems, cloud data services and data-management software. The core technology activity is generally permissible.
Limitation: The filing does not allocate every government, defense, financial-services or other customer use into a scholar-approved prohibited-revenue numerator.
Purification
NetApp discloses $113 million of interest income but does not provide a scholar-approved purification percentage or separate prohibited-activity numerator.
Inputs, assumptions and primary sources
- Amounts are USD millions from NetApp's April 24, 2026 Form 10-K.
- Interest-bearing debt is the $2,487 million long-term senior-notes balance; the current portion is zero at year end and operating leases are excluded.
- Cash is $2,070 million and short-term investments are $1,514 million, primarily fixed-income debt securities and certificates of deposit, used as the interest-bearing-securities proxy.
- Accounts receivable are $1,286 million; fiscal 2026 net revenue is $6,925 million.
- Disclosed fiscal-year interest income is $113 million; this is not a scholar-approved purification percentage.
- Data-storage hardware, cloud services and data-management software are generally permissible; public-sector and downstream customer-use questions remain qualitative.
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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