Is ESTC halal?
Elastic N.V.
Halal
Elastic N.V. passed every check under AAOIFI Shariah standard No. 21: no prohibited business activity, and all three financial ratios are within limits.
Checked: 14 October 2026
Exchange
NYSE
Price
91.06
Day
-6.36%
Market cap
$9.90B
Industry
Software - Application
Sector
Technology
What the company does
Elastic (Netherlands) makes a search and analytics platform (Elasticsearch) for log monitoring, security analytics and vector search for AI. Its money comes from subscriptions (cloud and self-managed).
What was checked
The AAOIFI standard has four steps: business activity first, then three financial ratios. Fail one and the stock is not halal.
Business activity
No prohibited activity
Interest-bearing debt / market cap
limit 30%
Interest-bearing debt $571.20M ÷ 36-month average market cap $8.87B = 6.4%
6.4%
Pass
Cash & investments / market cap
limit 30%
Cash + interest-bearing securities $1.46B ÷ 36-month average market cap $8.87B = 16.5%
16.5%
Pass
Non-compliant income / total revenue
limit 5%
—
No data
Figures from the company's filings (2026-07-31), USD. Market cap is a 36-month average (the S&P Shariah index approach), so a one-day price move does not flip the verdict. Today's market cap: $9.90B.
For information (AAOIFI 3/1 note): cash + receivables are 56.5% of total assets (2026-07-31). AAOIFI recommends tangible assets of at least one third — this figure does not affect the verdict, and other major screeners do not apply it either.
In the lists
- In the S&P 500
- Not in the S&P 500
- Among halal stocks
- 0.01% · #427 of 1454
- Held by funds
- Not held by any tracked fund
Halal stocks in the same industry
The largest halal stocks in Software - Application — for comparison.
Related articles
- Halal investingBlogHow to calculate purification for a halal stockEven a halal company earns a little interest. A simple formula and worked example for how much of your dividend to give to charity.
- GuideBlogDividends, zakat and tax: a practical guide for US stock holdersHow much US tax is withheld from dividends, what to declare in Uzbekistan, and how zakat on shares is calculated — with one worked example.
- Halal investingBlogWhy does a stock's halal status change?A stock that was halal yesterday can leave the list today. The four main reasons — and why none of them is a bug.
Halal is the first question. The second: when to enter?
Our scanner watches 1454 halal stocks around the clock and fires a signal with entry, TP and SL when a technical setup completes. The full signal history — with outcomes — is public.
This is neither investment advice nor a fatwa. Screening is based on public financial statements and AAOIFI standard No. 21; data may lag. For a personal decision consult your own scholar.