NASDAQ Shariah screener · October 2026

Is NetApp, Inc. (NTAP) Halal?

PASS

NetApp, Inc. · NASDAQ: NTAP · Technology

The short answer

Yes - NetApp (NTAP) passes this Shariah stock screen. Its business is enterprise data storage and management (ONTAP software, all-flash and hybrid-flash storage systems, cloud storage services, Instaclustr managed databases) with no prohibited lines. Interest-bearing debt of $2,487M is about 6.26% of its ~$39.75B market cap (October 2026), well under the ~33% ceiling, and FY2026 interest income of $113M is about 1.63% of $6,925M net revenues, under the 5% non-compliant income ceiling. Zoya covers NTAP with a dedicated AAOIFI-based page, though the current public status is not legible; no dedicated Musaffa or ShariaPortfolio rating page for NTAP was found - reported as absent, not invented.

Gate 1 — Business activity: PASS

NetApp, Inc. (NASDAQ: NTAP) is an enterprise data storage and management company founded in 1992 and headquartered in San Jose, California. Its flagship ONTAP data management software underpins all-flash and hybrid-flash storage arrays for on-premises data centers and private and public clouds, alongside StorageGRID object storage, cloud storage services (Cloud Volumes ONTAP on AWS, Microsoft Azure, and Google Cloud), and Instaclustr fully managed open-source databases and data pipelines. Revenue comes from product sales (storage hardware and software) and services (support and cloud subscriptions) - net revenues of $6,925M in fiscal 2026. None of the disclosed lines - enterprise storage hardware, data management software, cloud storage services, professional support - are prohibited lines (no alcohol, gambling, pork, conventional banking/insurance, tobacco, cannabis, or adult entertainment). Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

At April 24, 2026 (FY2026 10-K), NetApp reported $2,487M of long-term debt with no current portion outstanding - total interest-bearing debt of about $2,487M. Against a market capitalization of about $39.75B (NTAP at $215.05, Finnhub, October 2026), debt ÷ market cap is about 6.26%, well below the ~33% ceiling. Cash, cash equivalents, and short-term investments of $3,584M are about 9.02% of market cap, within the ~33% guideline, leaving the company in a net-cash position. The Q1 FY2027 10-Q (July 31, 2026) confirms gross debt of about $2.5B and cash and investments of about $3.58B. Gate 2 passes. Facts only.

Gate 3 — Non-compliant income: PASS

NetApp's FY2026 10-K separately discloses $113M of interest income (FY2025: $112M) in Other (expense) income, net. Against FY2026 net revenues of $6,925M, the non-compliant income ratio is about 1.63% ($113M ÷ $6,925M), under the 5% ceiling. The interest is earned on cash balances and short-term investments, not from lending. Gate 3 passes. Facts only.

Key figures used

Business: enterprise data storage and management - flagship ONTAP data management software; all-flash and hybrid-flash storage arrays; StorageGRID object storage; Cloud Volumes ONTAP on AWS, Azure, and Google Cloud; Instaclustr managed open-source databases; founded 1992, San Jose, California
Interest-bearing debt: $2,487M long-term debt at April 24, 2026 (FY2026 10-K), no current portion - about 6.26% of ~$39.75B market cap (NTAP $215.05, Oct 2026, Finnhub), under the ~33% ceiling
Cash and short-term investments: $3,584M ($2,070M cash + $1,514M short-term investments) - about 9.02% of market cap; net-cash position
Interest income: $113M in FY2026 (FY2025: $112M) vs net revenues of $6,925M - about 1.63%, under the 5% non-compliant income ceiling; earned on cash balances and investments, not lending
Q1 FY2027 (July 31, 2026): net revenues $2.03B (+30% YoY); gross debt ~$2.5B; cash and investments ~$3.58B; net income $375M; acquired DataPelago for $193M
Zoya has a dedicated NTAP page (AAOIFI-based) but public status not legible - no rating claimed; no dedicated Musaffa or ShariaPortfolio rating page found for NTAP - reported as absent, not invented

Frequently asked questions

What does NetApp do?

NetApp, Inc. (NASDAQ: NTAP) is an enterprise data storage and management company founded in 1992 and headquartered in San Jose, California. Its flagship ONTAP data management software underpins all-flash and hybrid-flash storage arrays for on-premises data centers and private and public clouds, alongside StorageGRID object storage, cloud storage services (Cloud Volumes ONTAP on AWS, Microsoft Azure, and Google Cloud), and Instaclustr fully managed open-source databases and data pipelines. It reports two revenue lines - product (storage hardware and software) and services (support and cloud subscriptions) - with net revenues of $6,925M in fiscal 2026.

Why does NetApp pass this Shariah stock screen?

NetApp passes all three gates of this screen. Gate 1 (business): its enterprise storage hardware, data management software, cloud storage services, and professional support lines contain no prohibited lines (no alcohol, gambling, pork, conventional banking or insurance, tobacco, cannabis, or adult entertainment). Gate 2 (financial structure): interest-bearing debt of $2,487M is about 6.26% of its ~$39.75B market cap, well under the ~33% ceiling, and cash plus short-term investments of $3,584M are about 9.02% of market cap. Gate 3 (non-compliant income): FY2026 interest income of $113M is about 1.63% of $6,925M net revenues, under the 5% ceiling. This is a factual screen, not a religious ruling - consult a qualified scholar for personal guidance.

What is NetApp's interest-bearing debt ratio?

At April 24, 2026 (FY2026 10-K), NetApp reported $2,487M of long-term debt with no current portion outstanding, so total interest-bearing debt was about $2,487M. Against a market capitalization of about $39.75B (NTAP at $215.05, Finnhub, October 2026), debt divided by market cap is about 6.26%, well below the ~33% ceiling. The Q1 FY2027 10-Q (July 31, 2026) confirms gross debt of about $2.5B ($550M current plus $1,938M long-term), so the ratio is materially unchanged. Cash, cash equivalents, and short-term investments of $3,584M are about 9.02% of market cap, leaving the company in a net-cash position.

What is NetApp's non-compliant income ratio?

NetApp's FY2026 10-K separately discloses $113M of interest income (FY2025: $112M) within Other (expense) income, net. Against FY2026 net revenues of $6,925M, the non-compliant income ratio is about 1.63% (113 divided by 6,925), under the 5% ceiling. The interest is earned on cash balances and short-term investments, not from lending. Total Other (expense) income, net was -$26M for FY2026 (interest income $113M, interest expense $109M, other net -$30M).

Do Zoya, Musaffa, or ShariaPortfolio cover NetApp?

Zoya covers NetApp with a dedicated stock page (zoya.finance/stocks/ntap) using AAOIFI-based screening guidelines, but the public page did not show a clearly legible current status, so no Zoya rating is claimed here. No dedicated Musaffa rating page for NTAP and no ShariaPortfolio coverage page for NTAP were found in public searches - honestly reported as absent, not invented. This page applies the screen directly from NetApp's SEC filings: the FY2026 10-K (year ended April 24, 2026) and the Q1 FY2027 10-Q (quarter ended July 31, 2026).

Sources

Screened 2026-10-02 from published company figures and market data. Figures change; this page is educational, not financial advice and not a religious ruling.

Screened with our two-gate Shariah screening methodology (business-activity gate, then AAOIFI-style financial ratios).