Is Cloudflare, Inc. (NET) stock halal?

Cloudflare, Inc. is not considered halal under the mainstream standards. HalalGauge screens NET under AAOIFI, Mufti Taqi Usmani, S&P DJIM, Ja'fari and the strict view, citing every threshold to its primary source.

Is NET halal under Mufti Taqi Usmani?

Under Mufti Taqi Usmani's methodology, NET is not halal. Impermissible income / revenue 6.0% (limit 5%); Illiquid (tangible) assets / total assets 14.0% (limit 20%)

NET · Technology

Cloudflare, Inc.

Is Cloudflare, Inc. (NET) halal?

Cloudflare, Inc. is not considered halal under the mainstream standards. Below is the verdict under each of the five mainstream scholarly standards, with the deciding numbers and the source behind every threshold.

NET verdict by standard · 0 halal · 3 borderline · 2 not halal

AAOIFI Standard
Impermissible income / revenue 6.0% (limit 5%)
Borderline
Mufti Taqi Usmani (stricter Hanafi)
Impermissible income / revenue 6.0% (limit 5%); Illiquid (tangible) assets / total assets 14.0% (limit 20%)
Not halal
Dow Jones Islamic Market
Impermissible income / revenue 6.0% (limit 5%)
Borderline
Ja'fari (Sistani-aligned)
Impermissible income / revenue 6.0% (limit 5%)
Borderline
Strict / zero-tolerance
Impermissible income / revenue 6.0% (limit 0%); Interest-bearing debt / market cap 4.2% (limit 0%); Cash + interest-bearing securities / market cap 4.6% (limit 0%)
Not halal

The numbers behind the verdict

Interest-bearing debt / market cap: 4.2%
Cash + securities / market cap: 4.6%
Receivables / market cap: 0.5%
Impermissible income / revenue: 6.0%
Illiquid (tangible) assets / total: 14.0%

Thresholds and methodology differ by scholar — e.g. AAOIFI caps interest-bearing debt at 30% of market cap, DJIM at 33%, and Mufti Taqi additionally requires tangible assets to be at least 20% of total assets. That's why two screeners can disagree on the same stock.

Screen NET interactively See the full balance sheet How the methodologies work

Sources

AAOIFI: AAOIFI Shariah Standard No. 21 (Financial Papers — Shares and Bonds)
Mufti Taqi: Mufti Taqi Usmani — published equity-screening rulings (illiquid-asset rule)
DJIM: S&P Dow Jones Islamic Market Indices — Index Methodology (Shariah Screening)
Ja'fari: Ayatollah Sistani — Code of Practice (sistani.org)
Strict: Minority scholars holding zero-tolerance on riba exposure
Financials: Q1 2026 filing

Other Technology tickers

Is NVDA halal?Is AAPL halal?Is MSFT halal?Is TSM halal?Is AVGO halal?Is MU halal?

HalalGauge surfaces published scholarly methodologies with full sourcing; it does not issue fatwa or certify any security as halal. Verify with a qualified scholar before investing.