NTNX

Nutanix, Inc.

HALAL

Score: 82/100

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Is NTNX Halal?

Hyperconverged infrastructure and hybrid cloud software — permissible enterprise software business.

What You Should Know

Nutanix is a leading hyperconverged infrastructure (HCI) and hybrid multicloud software company, providing the Nutanix Cloud Platform that allows enterprises to run virtual machines, containers, and databases across on-premises data centers and public clouds with unified management. The product set spans compute, storage, networking, virtualization, database services, and AI/ML workload orchestration. Enterprise software is unambiguously permissible. Nutanix has historically carried convertible debt that pushed financial ratios near Sharia thresholds, but with the company now generating meaningful free cash flow and the 2026 convertibles repaid or refinanced, balance sheet ratios sit comfortably within the standard 33% threshold at most major screening boards. The customer base is broad enterprise IT — banks and insurers are end customers, but Nutanix sells software not financial services, so the indirect customer mix does not change the screen.

⚠️ Concerns

•Historically convertible-debt-heavy balance sheet — verify current debt-to-market-cap ratio
•Some federal and defense customer exposure for general-purpose enterprise IT (small share, dual-use)
•Minor interest income on cash reserves