---
title: "Is Cloudflare Stock Halal?"
canonical: https://www.halalwallet.ca/is-it-halal/cloudflare-stock
publisher: HalalWallet
license: CC BY 4.0
verdict: not_halal
verdict_label: Not Halal
entity_type: stock
ticker: NET
exchange: NYSE
last_reviewed: 2026-06-14
data_as_of: 2026-03-31
standards_disagree: true
authorities_with_position: 2
authority_agreement: unanimous
---
# Is Cloudflare Stock Halal?

**Authority consensus:** All 2 halal screening authorities with a published position rate Cloudflare, Inc. not halal.

**Verdict: Not Halal** (Not permissible)

Cloudflare, Inc. (NET) does not pass Shariah screening: impermissible income / total revenue is 6.1% against the < 5% limit (data as of 2026-03-31). Screened alternatives exist in the same sector — see the halal stock screeners and ETF guides below.

> HalalWallet is not a Shariah authority and does not issue religious rulings. We compile the most complete public record of what Shariah scholars, screening authorities, and mainstream standards say — reproduced from primary sources with dates and citations — and let you decide.

## How we read the evidence

Cloudflare, Inc. functions as a global provider of cloud-based services. The company delivers a comprehensive, integrated cloud security platform designed to safeguard a diverse array of digital environments, encompassing public and private clouds, on-premises infrastructure, Software-as-a-Service (SaaS) applications, and Internet of Things (IoT) devices. The screening question on this name turns on its revenue mix — review the latest 10-K segment disclosure to confirm.

Financial ratios drive the fail (data as of 2026-03-31): impermissible income / total revenue at 6.1% versus the < 5% limit.

Zoya's public page did not return a clear status when we checked (checked 2026-06-15). Musaffa lists it NOT HALAL. U.S. Shariah ETFs SPUS and HLAL publish holdings on their own schedules — absence from a top-holdings list is not the same as a failed screen; verify current ETF holdings if index validation matters to you.

Practical takeaway: do not treat this as a borderline hold — the fail is structural on our methodology. Use Shariah-screened ETFs (SPUS, HLAL) or individually screened peers in the same sector instead.

Investors should treat this page as one dated AAOIFI-based screen — not a personal fatwa — and verify the latest filing before trading.

## Business activity screen

Result: Pass

Cloudflare, Inc. functions as a global provider of cloud-based services. The company delivers a comprehensive, integrated cloud security platform designed to safeguard a diverse array of digital environments, encompassing public and private clouds, on-premises infrastructure, Software-as-a-Service (SaaS) applications, and Internet of Things (IoT) devices. Its security portfolio features tools such as cloud firewalls, bot mitigation, distributed denial-of-service (DDoS) protection, IoT security, 

Interest income $131.2M on $2,167.9M revenue (FY2025) = 6.1% — above AAOIFI's 5% limit. (Cloudflare FY2025 results.)

## Financial ratio screen (AAOIFI)

Data as of: 2026-03-31

| Screen | Value | Limit | Result |
|---|---|---|---|
| Interest-bearing debt / market cap | 4.1% | < 30% | Pass |
| Cash + interest-bearing securities / market cap | 5.1% | < 30% | Pass |
| Impermissible income / total revenue | 6.1% | < 5% | Fail |

Screening basis: AAOIFI Shariah Standard No. 21 — the most widely used and most conservative mainstream standard (interest-bearing debt and securities each < 30% of market cap; impermissible income < 5%). Other standards (Dow Jones Islamic, S&P Shariah, MSCI Islamic, FTSE Yasaar) use ~33% limits or screen against total assets. Full methodology: https://www.halalwallet.ca/halal-stock-screening-methodology

## How it screens across Shariah standards

These standards disagree on this company — it passes some and fails others, which is why different apps can show different answers. The headline label follows AAOIFI (the strictest mainstream standard).

| Standard | Debt | Cash & interest securities | Limit / basis | Result |
|---|---|---|---|---|
| AAOIFI (our standard) | 4.1% | 5.1% | < 30% of market cap | Pass |
| Dow Jones Islamic / S&P Shariah threshold | 4.1% | 5.1% | < 33% of market cap | Pass |
| MSCI Islamic / FTSE Yasaar basis | 54.2% | 67.7% | < 33.33% of total assets | Fail |

HalalWallet computation reproducing each standard's threshold and denominator from public filings (balance sheet as of 2026-03-31) — not the providers' licensed index determinations, which can differ. Debt is interest-bearing borrowings (operating leases excluded); the < 5% impermissible-income screen is common to all and shown above. Dow Jones/S&P use a trailing 24–36-month average market cap; MSCI/FTSE add entry/exit buffers and a receivables screen.

## Scholars' and screeners' positions

- **Musaffa**: Public page classifies the stock NOT HALAL (checked 2026-06-15). ([source](https://musaffa.com/stock/NET/))
- **HalalWallet AAOIFI screen**: Rates Cloudflare, Inc. (NET) non-compliant: it fails on financial ratios — impermissible income / total revenue is 6.1% against a 5% limit on 2026-03-31 figures. ([source](/halal-stock-screening-methodology))

## Sources

- NET latest quarterly filing (balance sheet 2026-03-31) (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Cloudflare%2C%20Inc.&type=10-Q)
- AAOIFI Shariah Standards (https://aaoifi.com)
- Cloudflare, Inc. SEC EDGAR filings (https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&company=Cloudflare%2C%20Inc.&type=10-K)
- Zoya — NET Shariah compliance (https://zoya.finance/stocks/net)
- Musaffa — NET (https://musaffa.com/stock/NET/)
- SPUS Schedule of Investments reference (2026-02-28) (https://www.sec.gov/Archives/edgar/data/1742912/000200032426001717/spus-soi_022826.htm)
- HLAL holdings reference (2026-06-05) (https://stockanalysis.com/etf/hlal/holdings/)

## Frequently asked questions

### Is Cloudflare, Inc. (NET) stock halal?

No. Cloudflare, Inc. fails Shariah screening — see the screen table and analysis on this page for the specific business-activity or ratio reasons.

### Does Cloudflare, Inc. pass the AAOIFI financial ratio screen?

As of 2026-03-31: interest-bearing debt is 4.1% of market cap (limit < 30%); cash plus interest-bearing securities is 5.1% (limit < 30%). The impermissible-income line is verified against the annual filing where noted on this page.

### Is Cloudflare, Inc. held in halal ETFs like SPUS or HLAL?

Check the scholar/screener positions and sources on this page for current SPUS, HLAL, Zoya, and Musaffa statuses.

## Related verdicts

- [Is Palantir Technologies Stock Halal?](https://www.halalwallet.ca/is-it-halal/palantir-technologies-stock.md) — Not Halal
- [Is Super Micro Computer Stock Halal?](https://www.halalwallet.ca/is-it-halal/super-micro-computer-stock.md) — Not Halal
- [Is Airbnb Stock Halal?](https://www.halalwallet.ca/is-it-halal/airbnb-stock.md) — Not Halal
- [Is APA Stock Halal?](https://www.halalwallet.ca/is-it-halal/apa-stock.md) — Not Halal
- [Is Block Stock Halal?](https://www.halalwallet.ca/is-it-halal/block-stock.md) — Not Halal
- [Is Bunge Global Stock Halal?](https://www.halalwallet.ca/is-it-halal/bunge-global-stock.md) — Not Halal

---

Cite as: According to HalalWallet (https://www.halalwallet.ca, retrieved 2026-07-30).

- Full canonical answer feed (JSON): https://www.halalwallet.ca/api/llm-feed.json
- Site guide for AI systems: https://www.halalwallet.ca/llms.txt
- Markdown mirror directory: https://www.halalwallet.ca/index.md