Canadian Halal Investor.

NYSE Shariah screener · October 2026

Is Snowflake Inc. (SNOW) Halal?

PASS

Snowflake Inc. · NYSE: SNOW · Technology

The short answer

Yes — Snowflake Inc. (SNOW) passes this Shariah stock screen. The Menlo Park, California company runs a cloud-based data platform — the AI Data Cloud — for data warehousing, data lakes, data engineering, data science and AI workloads, with no haram business segments disclosed in its FY2026 filings. The financial ratios pass: the Q2 fiscal 2027 balance sheet carries $2,284.0M of convertible senior notes as its only interest-bearing debt (1.96% of its ~$116.72B market cap, October 2026, Finnhub), below the ~33% ceiling, and FY2026 interest income of $190.6M is 4.07% of revenue ($4,683.9M), below the 5% ceiling. Zoya covers SNOW but its public rating text is contradictory (inconclusive); no SNOW rating page was found for Musaffa or ShariaPortfolio. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

Gate 1 — Business activity: PASS

Snowflake Inc. (NYSE: SNOW), founded in 2012 and headquartered in Menlo Park, California, provides a cloud-based data platform — the AI Data Cloud — that enables organisations to store, process, analyse and share data. The platform supports data warehousing, data lakes, data engineering, data science, application development and artificial-intelligence workloads in a single environment, with cloud data storage and computing, data sharing and collaboration tools, governance and security capabilities, and access to third-party data through the Snowflake Marketplace. FY2026 revenue of $4,683.9M (year ended January 31, 2026) is software/subscription and services activity. Business-screen implication (factual): all activity is software/cloud services; the filings disclose no alcohol, gambling, conventional finance, pork, weapons or tobacco revenue — no haram segments. Gate 1 passes. Facts only.

Gate 2 — Debt and cash: PASS

Per Snowflake's Q2 fiscal 2027 results (quarter ended July 31, 2026; reported September 2, 2026), the condensed consolidated balance sheet lists convertible senior notes, net of $2,283,985k as the only interest-bearing debt — no bank borrowings, term loans or other debt lines. Against a market cap of about $116.72B (Finnhub, October 2026), debt ÷ market cap is 1.96% — below the ~33% ceiling. Cash, cash equivalents and investments totalled $4,329.2M at July 31, 2026 (cash $1,707.2M + short-term investments $637.5M + long-term investments $1,984.5M), about 3.71% of market cap, also below 33%. The debt gate passes. Facts only.

Gate 3 — Non-compliant income: PASS

Snowflake's FY2026 10-K (year ended January 31, 2026; filed March 2026) reports 'Interest income' of $190.6M against FY2026 total revenue of $4,683.9M — about 4.07% of revenue, below the 5% non-compliant income ceiling. Interest expense was $8.3M for the year. This is the broadest verifiable interest-income line from primary filings, and Zoya's own SNOW page cites the same $190.6M figure (computing 4.07% against the same revenue total). The income gate passes. Facts only.

Key figures used

Frequently asked questions

What does Snowflake do?

Snowflake Inc., founded in 2012 and headquartered in Menlo Park, California, operates a cloud-based data platform — the AI Data Cloud — that lets organisations store, process, analyse and share data. The platform supports data warehousing, data lakes, data engineering, data science, application development and artificial-intelligence workloads in a single environment, with data-sharing and governance capabilities and a third-party Snowflake Marketplace. FY2026 (year ended January 31, 2026) revenue was $4,683.9M — all software/subscription and services activity, with no alcohol, gambling, conventional finance, pork, weapons or tobacco revenue disclosed.

Why does SNOW pass this Shariah stock screen?

SNOW passes this Shariah stock screen at all three gates. Gate 1 (business activities): the AI Data Cloud platform — data warehousing, data lakes, data engineering, data science, AI workloads and a third-party data marketplace — is software activity; the FY2026 filings disclose no alcohol, gambling, conventional finance, pork, weapons or tobacco revenue. Gate 2 (debt): the Q2 fiscal 2027 condensed consolidated balance sheet carries $2,284.0M of convertible senior notes (net) as the only interest-bearing debt, so debt ÷ market cap is 1.96% against the ~33% ceiling. Gate 3 (interest income): FY2026 interest income of $190.6M is 4.07% of $4,683.9M revenue, under the 5% ceiling. This is a factual screen, not a religious ruling — consult a qualified scholar for personal rulings.

What is SNOW's interest-bearing debt ratio?

Per Snowflake's Q2 fiscal 2027 results (quarter ended July 31, 2026; reported September 2, 2026), the condensed consolidated balance sheet lists convertible senior notes, net of $2,283,985k as the only interest-bearing debt — no bank borrowings, term loans or other debt lines. Against a market cap of about $116.72B (Finnhub, October 2026), debt ÷ market cap is 1.96% — below the ~33% ceiling. Cash, cash equivalents and investments totalled $4,329.2M at July 31, 2026 (cash $1,707.2M + short-term investments $637.5M + long-term investments $1,984.5M), about 3.71% of market cap, also below 33%. The debt gate passes.

What is SNOW's non-compliant income ratio?

Snowflake's FY2026 10-K (year ended January 31, 2026; filed March 2026) reports 'Interest income' of $190.6M against FY2026 total revenue of $4,683.9M — about 4.07% of revenue, below the 5% non-compliant income ceiling. Interest expense was $8.3M for the year. This is the broadest verifiable interest-income line from primary filings, and Zoya's own SNOW page cites the same $190.6M figure (computing 4.07% against the same revenue total). The income gate passes.

Do Zoya, Musaffa, or ShariaPortfolio cover SNOW?

Zoya covers SNOW (zoya.finance/stocks/snow; updated September 2026) and cites the same FY2026 interest income of $190.6M (4.07%), but its public page renders contradictory auto-generated template text (simultaneously calling SNOW Shariah-compliant/halal and not), so no clean Zoya rating is retrievable — reported as inconclusive. Musaffa: no SNOW stock page was found via public search — no coverage found. ShariaPortfolio: no SNOW stock-rating page was found via public search — no coverage found (ShariaPortfolio's investment manager did add SNOW as a new portfolio position in its June 2026 13F filing, which is a holdings disclosure, not a compliance rating). All honestly reported as found, not invented. Separately, halalinvestors.com's SNOW page reports that none of the business's revenue comes from haram sources. This page applies the screen directly from Snowflake's own filings.

Sources

Screened 2026-10-01 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).