Is Snowflake Stock Halal?
Table of Contents
How much of Snowflake’s revenue comes from haram?
Snowflake earns its revenue from the following revenue sources:
- Product Revenue:
Snowflake provides a cloud-based data platform that enables businesses to manage and store data and offers computing solutions.
- Professional Services and Other:
Includes consulting services, on-site technical solutions, and training services related to its platform.
The contributions from each of Snowflake’s revenue segments in their 2020 annual report were as follows:
Practical Islamic Finance concludes:
None of Snowflake’s revenue comes from anything inherently haram.
Does Snowflake rely on interest to operate?
| Year-to-Date for period ended 4/30/2021 | Fiscal year ended 1/31/2021 | Fiscal year ended 1/31/2020 | |
|---|---|---|---|
| Interest Income | $2,612 | $7,507 | $11,551 |
| Total Revenue | $228,914 | $592,049 | $264,748 |
| Interest Expense | – | – | – |
| Total Expenses | $434,509 | $1,135,986 | $622,836 |
| Interest Income / Revenue | 1.14% | 1.27% | 4.36% |
| Interest Expense / Total Expense | – | – | – |
Practical Islamic Finance concludes:
Riba is used but not relied upon in Snowflake’s operations.
What is Snowflake’s Environmental, Social, and Governance (ESG) impact?
Environment
No notable environmental highlights.
Social
Snowflake has a high Glassdoor rating of 4.2 out of 5.0 from over 150 current and previous employees compared to a 3.3 average for all other Glassdoor rated companies.
Governance
No notable governance highlights.
Practical Islamic Finance concludes:
Snowflake has a net positive ESG impact.
Comfort Rating
From Snowflake’s business, financial, and ESG reviews, Practical Islamic Finance rates Snowflake stock as: