33:
693:
For example, if a company has 4 million common shares outstanding and the closing price per share is $ 20, its market capitalization is then $ 80 million. If the closing price per share rises to $ 21, the market cap becomes $ 84 million. If it drops to $ 19 per share, the market cap falls to $ 76
733:
is sometimes heard. Large caps have a slow growth rate as compared to small caps. Different numbers are used by different indexes; there is no official definition of, or full consensus agreement about, the exact cutoff values. The cutoffs may be defined as percentiles rather than in
746:
change, and overall market valuation (for example, $ 1 billion was a large market cap in 1950, but it is not very large now), and market caps are likely to be different country to country.
795:
676:
1117:
697:
Not all of the outstanding shares trade on the open market. The number of shares trading on the open market is called the float. It is equal to or less than
765:
760:
948:
926:
802:
694:
million. This is in contrast to mercantile pricing where purchase price, average price and sale price may differ due to transaction costs.
1054:
1110:
109:, being a measure of the sum of the market capitalizations of all companies listed on each stock exchange. The total capitalization of
919:
893:
987:
706:
1103:
735:
82:
Market capitalization is sometimes used to rank the size of companies. It measures only the equity component of a company's
1348:
98:(EV), which gives effect to outstanding debt, preferred stock, and other factors. For insurance firms, a value called the
1896:
839:
1373:
125:). The total market capitalization of all publicly traded companies in 2023 was approximately US$ 111 trillion.
1367:
1850:
1790:
1586:
1492:
1576:
1544:
1448:
1402:
1385:
1338:
1083:
1361:
1355:
647:
17:
709:
uses just the floating number of shares in the calculation, generally resulting in a smaller number.
1750:
1425:
1901:
1704:
1565:
1460:
1343:
60:
37:
1592:
1058:
872:
150:
1539:
133:
Total market capitalization of all publicly traded companies in the world from 1975 to 2020.
1865:
1785:
1550:
1534:
1497:
1379:
1322:
1290:
8:
1795:
1740:
1664:
1524:
1454:
1283:
1256:
32:
1033:
897:
1835:
1810:
1770:
1755:
1674:
1644:
1613:
1571:
1315:
1225:
1215:
755:
738:. The definitions expressed in nominal dollars need to be adjusted over decades due to
118:
91:
64:
1699:
1684:
1436:
1089:
835:
718:
122:
83:
1800:
1720:
1516:
1397:
1273:
1192:
1148:
1126:
95:
1012:
1875:
1870:
1805:
1780:
1715:
1689:
1669:
1628:
1623:
1618:
1603:
1598:
1486:
1420:
1412:
1300:
1187:
94:) is used to finance the firm. A more comprehensive measure of a firm's size is
1830:
1825:
1725:
1710:
1471:
1466:
1431:
1230:
1197:
1143:
1135:
775:
726:
114:
106:
99:
45:
1890:
1694:
1679:
1654:
1608:
1560:
1263:
1220:
1207:
1158:
1855:
1775:
1745:
1735:
1555:
1529:
1278:
1268:
1251:
1182:
1177:
1153:
770:
110:
949:"Market capitalization of listed domestic companies (current US$ ) | Data"
1860:
1840:
1820:
1815:
1760:
1649:
1581:
834:(third ed.). Mason OH: South-Western Cengage Learning. p. 387.
71:
41:
1845:
1765:
1442:
1305:
743:
1481:
1476:
1391:
1310:
739:
1095:
1659:
1295:
722:
717:
Traditionally, companies were divided into large-cap, mid-cap, and
1503:
1246:
830:
Graham, John R; Smart, Scott B.; Megginson, William J. (2010).
48:
in terms of total market capitalization of its listed companies
1169:
86:, and does not reflect management's decision as to how much
128:
87:
705:
includes shares that are restricted from trading. The
74:
multiplied by the number of common shares outstanding.
1086:– from the Washington State (U.S.) government web site
650:
829:
766:
List of public corporations by market capitalization
27:
Total value of a public company's outstanding shares
670:
1888:
761:List of countries by stock market capitalization
686:is the number of common shares outstanding, and
105:It is also used in ranking the relative size of
801:. World Federation of Exchanges. Archived from
1111:
796:"Market highlights for first half-year 2010"
867:
865:
1118:
1104:
988:"Large Cap, Mid Cap, and Small Cap Stocks"
1090:Year-end market capitalization by country
974:Graham, Smart and Megginson op cit p. 387
856:Graham, Smart and Megginson op cit p. 387
862:
129:Historical estimates of world market cap
31:
929:from the original on September 17, 2024
14:
1889:
690:is the market price per common share.
70:Market capitalization is equal to the
1125:
1099:
1055:"Definition of Market Capitalization"
729:have since come into common use, and
825:
823:
712:
644:Market cap is given by the formula
24:
873:"Market Capitalization Definition"
671:{\textstyle {\text{MC}}=N\times P}
25:
1913:
1077:
941:
820:
1374:Electronic communication network
1047:
1026:
1005:
980:
966:
912:
886:
848:
788:
682:is the market capitalization,
639:
77:
13:
1:
1368:Multilateral trading facility
781:
72:market price per common share
1791:Returns-based style analysis
1587:Post-modern portfolio theory
1493:Security characteristic line
7:
1545:Efficient-market hypothesis
1449:Capital asset pricing model
1386:Straight-through processing
920:"FY 2023 Market Highlights"
749:
117:may be compared with other
55:, sometimes referred to as
10:
1918:
1362:Alternative Trading System
59:, is the total value of a
1897:Publicly traded companies
1637:
1512:
1411:
1331:
1239:
1206:
1167:
1133:
894:"Financial Times Lexicon"
65:outstanding common shares
1426:Arbitrage pricing theory
67:owned by stockholders.
1705:Initial public offering
1566:Modern portfolio theory
1461:Dividend discount model
1344:List of stock exchanges
1092:– World Bank, 1988–2018
61:publicly traded company
38:New York Stock Exchange
1593:Random walk hypothesis
1034:"Micro Cap Definition"
672:
49:
44:, the world's largest
1731:Market capitalization
1540:Dollar cost averaging
1013:"Mega Cap Definition"
900:on September 25, 2016
707:free-float market cap
673:
53:Market capitalization
35:
1551:Fundamental analysis
1535:Contrarian investing
1498:Security market line
1403:Liquidity aggregator
1380:Direct market access
1291:Quantitative analyst
648:
102:(EV) has been used.
1796:Reverse stock split
1741:Market manipulation
1665:Dual-listed company
1525:Algorithmic trading
1455:Capital market line
1257:Inter-dealer broker
1084:How to Value Assets
119:economic indicators
1836:Stock market index
1675:Efficient frontier
1614:Technical analysis
1572:Momentum investing
1394:(private exchange)
1284:Proprietary trader
1226:Shares outstanding
1216:Authorised capital
1061:on October 1, 2020
953:Data.WorldBank.org
756:Authorised capital
668:
50:
1884:
1883:
1685:Flight-to-quality
1437:Buffett indicator
1127:Financial markets
832:Corporate Finance
654:
637:
636:
123:Buffett indicator
84:capital structure
16:(Redirected from
1909:
1801:Share repurchase
1513:Trading theories
1398:Crossing network
1356:Over-the-counter
1193:Restricted stock
1149:Secondary market
1120:
1113:
1106:
1097:
1096:
1071:
1070:
1068:
1066:
1057:. Archived from
1051:
1045:
1044:
1042:
1040:
1030:
1024:
1023:
1021:
1019:
1009:
1003:
1002:
1000:
998:
984:
978:
977:
970:
964:
963:
961:
959:
945:
939:
938:
936:
934:
924:
916:
910:
909:
907:
905:
896:. Archived from
890:
884:
883:
881:
879:
869:
860:
859:
852:
846:
845:
827:
818:
817:
815:
813:
808:on July 22, 2013
807:
800:
792:
713:Market cap terms
677:
675:
674:
669:
655:
652:
156:Number of listed
147:World market cap
142:World market cap
136:
135:
115:economic regions
96:enterprise value
21:
1917:
1916:
1912:
1911:
1910:
1908:
1907:
1906:
1887:
1886:
1885:
1880:
1871:Voting interest
1781:Public offering
1716:Mandatory offer
1690:Government bond
1670:DuPont analysis
1633:
1629:Value investing
1624:Value averaging
1619:Trend following
1604:Style investing
1599:Sector rotation
1514:
1508:
1487:Net asset value
1413:Stock valuation
1407:
1327:
1235:
1202:
1188:Preferred stock
1163:
1129:
1124:
1080:
1075:
1074:
1064:
1062:
1053:
1052:
1048:
1038:
1036:
1032:
1031:
1027:
1017:
1015:
1011:
1010:
1006:
996:
994:
986:
985:
981:
972:
971:
967:
957:
955:
947:
946:
942:
932:
930:
922:
918:
917:
913:
903:
901:
892:
891:
887:
877:
875:
871:
870:
863:
854:
853:
849:
842:
828:
821:
811:
809:
805:
798:
794:
793:
789:
784:
752:
736:nominal dollars
715:
651:
649:
646:
645:
642:
157:
148:
144:(in mil. US$ )
143:
131:
107:stock exchanges
80:
28:
23:
22:
15:
12:
11:
5:
1915:
1905:
1904:
1902:Business terms
1899:
1882:
1881:
1879:
1878:
1873:
1868:
1863:
1858:
1853:
1848:
1843:
1838:
1833:
1831:Stock exchange
1828:
1826:Stock dilution
1823:
1818:
1813:
1808:
1803:
1798:
1793:
1788:
1783:
1778:
1773:
1768:
1763:
1758:
1753:
1751:Mean reversion
1748:
1743:
1738:
1733:
1728:
1726:Market anomaly
1723:
1718:
1713:
1708:
1702:
1697:
1692:
1687:
1682:
1677:
1672:
1667:
1662:
1657:
1652:
1647:
1645:Bid–ask spread
1641:
1639:
1635:
1634:
1632:
1631:
1626:
1621:
1616:
1611:
1606:
1601:
1596:
1590:
1584:
1579:
1574:
1569:
1563:
1558:
1553:
1548:
1542:
1537:
1532:
1527:
1521:
1519:
1510:
1509:
1507:
1506:
1501:
1495:
1490:
1484:
1479:
1474:
1472:Earnings yield
1469:
1467:Dividend yield
1464:
1458:
1452:
1446:
1440:
1434:
1429:
1423:
1417:
1415:
1409:
1408:
1406:
1405:
1400:
1395:
1389:
1383:
1377:
1371:
1365:
1359:
1358:(off-exchange)
1353:
1352:
1351:
1346:
1335:
1333:
1332:Trading venues
1329:
1328:
1326:
1325:
1320:
1319:
1318:
1308:
1303:
1298:
1293:
1288:
1287:
1286:
1281:
1271:
1266:
1261:
1260:
1259:
1254:
1243:
1241:
1237:
1236:
1234:
1233:
1231:Treasury stock
1228:
1223:
1218:
1212:
1210:
1204:
1203:
1201:
1200:
1198:Tracking stock
1195:
1190:
1185:
1180:
1174:
1172:
1165:
1164:
1162:
1161:
1156:
1151:
1146:
1144:Primary market
1140:
1138:
1131:
1130:
1123:
1122:
1115:
1108:
1100:
1094:
1093:
1087:
1079:
1078:External links
1076:
1073:
1072:
1046:
1025:
1004:
992:Financial Edge
979:
965:
940:
911:
885:
861:
847:
840:
819:
786:
785:
783:
780:
779:
778:
776:Treasury stock
773:
768:
763:
758:
751:
748:
714:
711:
667:
664:
661:
658:
641:
638:
635:
634:
632:
629:
626:
622:
621:
618:
615:
612:
608:
607:
604:
601:
598:
594:
593:
590:
587:
584:
580:
579:
576:
573:
570:
566:
565:
562:
559:
556:
552:
551:
548:
545:
542:
538:
537:
534:
531:
528:
524:
523:
520:
517:
514:
510:
509:
506:
503:
500:
496:
495:
492:
489:
486:
482:
481:
478:
475:
472:
468:
467:
464:
461:
458:
454:
453:
450:
447:
444:
440:
439:
436:
433:
430:
426:
425:
422:
419:
416:
412:
411:
408:
405:
402:
398:
397:
394:
391:
388:
384:
383:
380:
377:
374:
370:
369:
366:
363:
360:
356:
355:
352:
349:
346:
342:
341:
338:
335:
332:
328:
327:
324:
321:
318:
314:
313:
310:
307:
304:
300:
299:
296:
293:
290:
286:
285:
282:
279:
276:
272:
271:
268:
265:
262:
258:
257:
254:
251:
248:
244:
243:
240:
237:
234:
230:
229:
226:
223:
220:
216:
215:
212:
209:
206:
202:
201:
198:
195:
192:
188:
187:
184:
181:
178:
174:
173:
170:
167:
164:
160:
159:
154:
145:
140:
130:
127:
100:embedded value
79:
76:
46:stock exchange
26:
9:
6:
4:
3:
2:
1914:
1903:
1900:
1898:
1895:
1894:
1892:
1877:
1874:
1872:
1869:
1867:
1864:
1862:
1859:
1857:
1854:
1852:
1849:
1847:
1844:
1842:
1839:
1837:
1834:
1832:
1829:
1827:
1824:
1822:
1819:
1817:
1814:
1812:
1809:
1807:
1806:Short selling
1804:
1802:
1799:
1797:
1794:
1792:
1789:
1787:
1784:
1782:
1779:
1777:
1774:
1772:
1769:
1767:
1764:
1762:
1759:
1757:
1754:
1752:
1749:
1747:
1744:
1742:
1739:
1737:
1734:
1732:
1729:
1727:
1724:
1722:
1719:
1717:
1714:
1712:
1709:
1706:
1703:
1701:
1698:
1696:
1695:Greenspan put
1693:
1691:
1688:
1686:
1683:
1681:
1680:Financial law
1678:
1676:
1673:
1671:
1668:
1666:
1663:
1661:
1658:
1656:
1655:Cross listing
1653:
1651:
1648:
1646:
1643:
1642:
1640:
1638:Related terms
1636:
1630:
1627:
1625:
1622:
1620:
1617:
1615:
1612:
1610:
1609:Swing trading
1607:
1605:
1602:
1600:
1597:
1594:
1591:
1588:
1585:
1583:
1580:
1578:
1577:Mosaic theory
1575:
1573:
1570:
1567:
1564:
1562:
1561:Market timing
1559:
1557:
1554:
1552:
1549:
1546:
1543:
1541:
1538:
1536:
1533:
1531:
1528:
1526:
1523:
1522:
1520:
1518:
1511:
1505:
1502:
1499:
1496:
1494:
1491:
1488:
1485:
1483:
1480:
1478:
1475:
1473:
1470:
1468:
1465:
1462:
1459:
1456:
1453:
1450:
1447:
1444:
1441:
1438:
1435:
1433:
1430:
1427:
1424:
1422:
1419:
1418:
1416:
1414:
1410:
1404:
1401:
1399:
1396:
1393:
1390:
1387:
1384:
1381:
1378:
1375:
1372:
1369:
1366:
1363:
1360:
1357:
1354:
1350:
1349:Trading hours
1347:
1345:
1342:
1341:
1340:
1337:
1336:
1334:
1330:
1324:
1321:
1317:
1314:
1313:
1312:
1309:
1307:
1304:
1302:
1299:
1297:
1294:
1292:
1289:
1285:
1282:
1280:
1277:
1276:
1275:
1272:
1270:
1267:
1265:
1264:Broker-dealer
1262:
1258:
1255:
1253:
1250:
1249:
1248:
1245:
1244:
1242:
1238:
1232:
1229:
1227:
1224:
1222:
1221:Issued shares
1219:
1217:
1214:
1213:
1211:
1209:
1208:Share capital
1205:
1199:
1196:
1194:
1191:
1189:
1186:
1184:
1181:
1179:
1176:
1175:
1173:
1171:
1166:
1160:
1159:Fourth market
1157:
1155:
1152:
1150:
1147:
1145:
1142:
1141:
1139:
1137:
1132:
1128:
1121:
1116:
1114:
1109:
1107:
1102:
1101:
1098:
1091:
1088:
1085:
1082:
1081:
1060:
1056:
1050:
1035:
1029:
1014:
1008:
997:September 15,
993:
989:
983:
975:
969:
958:September 20,
954:
950:
944:
933:September 17,
928:
921:
915:
899:
895:
889:
874:
868:
866:
857:
851:
843:
841:9780324782967
837:
833:
826:
824:
804:
797:
791:
787:
777:
774:
772:
769:
767:
764:
762:
759:
757:
754:
753:
747:
745:
741:
737:
732:
728:
724:
720:
710:
708:
704:
700:
695:
691:
689:
685:
681:
665:
662:
659:
656:
633:
630:
627:
624:
623:
619:
616:
613:
610:
609:
605:
602:
599:
596:
595:
591:
588:
585:
582:
581:
577:
574:
571:
568:
567:
563:
560:
557:
554:
553:
549:
546:
543:
540:
539:
535:
532:
529:
526:
525:
521:
518:
515:
512:
511:
507:
504:
501:
498:
497:
493:
490:
487:
484:
483:
479:
476:
473:
470:
469:
465:
462:
459:
456:
455:
451:
448:
445:
442:
441:
437:
434:
431:
428:
427:
423:
420:
417:
414:
413:
409:
406:
403:
400:
399:
395:
392:
389:
386:
385:
381:
378:
375:
372:
371:
367:
364:
361:
358:
357:
353:
350:
347:
344:
343:
339:
336:
333:
330:
329:
325:
322:
319:
316:
315:
311:
308:
305:
302:
301:
297:
294:
291:
288:
287:
283:
280:
277:
274:
273:
269:
266:
263:
260:
259:
255:
252:
249:
246:
245:
241:
238:
235:
232:
231:
227:
224:
221:
218:
217:
213:
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111:stock markets
108:
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68:
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58:
54:
47:
43:
39:
34:
30:
19:
1856:Tender offer
1776:Public float
1746:Market trend
1736:Market depth
1730:
1556:Growth stock
1530:Buy and hold
1439:(Cap-to-GDP)
1279:Floor trader
1269:Market maker
1252:Floor broker
1240:Participants
1183:Golden share
1178:Common stock
1154:Third market
1063:. Retrieved
1059:the original
1049:
1037:. Retrieved
1028:
1016:. Retrieved
1007:
995:. Retrieved
991:
982:
973:
968:
956:. Retrieved
952:
943:
931:. Retrieved
914:
904:February 19,
902:. Retrieved
898:the original
888:
876:. Retrieved
855:
850:
831:
810:. Retrieved
803:the original
790:
771:Market price
730:
721:. The terms
716:
702:
698:
696:
692:
687:
683:
679:
643:
132:
104:
81:
69:
56:
52:
51:
29:
1861:Uptick rule
1841:Stock split
1821:Squeeze-out
1816:Speculation
1761:Open outcry
1650:Block trade
1582:Pairs trade
640:Calculation
628:93,686,226
614:78,825,583
600:68,893,044
586:79,501,948
572:65,117,714
558:62,268,184
544:67,177,254
530:64,367,842
516:54,503,237
502:47,521,341
488:54,259,518
474:47,471,293
460:32,418,516
446:60,456,082
432:50,074,966
418:40,512,446
404:36,540,980
390:31,107,425
376:22,802,792
362:26,792,162
348:30,925,434
334:33,181,159
320:24,555,201
306:22,029,761
292:19,806,691
278:17,263,728
264:14,639,924
250:13,897,390
236:10,819,256
222:11,340,785
78:Description
42:Wall Street
1891:Categories
1866:Volatility
1846:Stock swap
1766:Order book
1517:strategies
1443:Book value
1311:Arbitrager
1306:Speculator
782:References
744:population
208:9,519,107
194:4,684,978
180:2,525,736
166:1,149,245
158:companies
121:(e.g. the
57:market cap
18:Market cap
1482:Fed model
1477:EV/EBITDA
1392:Dark pool
1323:Regulator
1168:Types of
1134:Types of
1065:August 3,
740:inflation
727:micro-cap
719:small-cap
663:×
1811:Slippage
1771:Position
1756:Momentum
1660:Dividend
1339:Exchange
1296:Investor
1039:April 2,
1018:April 2,
927:Archived
925:. 2023.
878:April 2,
750:See also
731:nano-cap
723:mega-cap
701:because
678:, where
92:leverage
1700:Haircut
1504:T-model
1316:Scalper
1136:markets
812:May 29,
620:43,248
606:43,554
592:43,440
578:43,806
564:43,983
550:45,743
536:44,853
522:43,772
508:44,323
494:43,427
480:42,669
466:43,949
452:44,034
438:43,104
424:39,096
410:38,724
396:41,051
382:38,894
368:40,157
354:39,892
340:38,414
326:37,928
312:36,946
298:35,617
284:33,379
270:30,290
256:28,300
242:24,947
228:24,666
214:23,732
200:20,555
186:17,273
172:14,577
1721:Margin
1589:(PMPT)
1451:(CAPM)
1301:Hedger
1274:Trader
1247:Broker
1170:stocks
838:
631:134.7
617:108.4
589:111.1
449:114.0
435:106.1
351:101.1
337:115.1
149:(% of
1876:Yield
1851:Trade
1786:Rally
1707:(IPO)
1595:(RMH)
1568:(MPT)
1547:(EMH)
1500:(SML)
1489:(NAV)
1463:(DDM)
1457:(CML)
1428:(APT)
1421:Alpha
1388:(STP)
1382:(DMA)
1376:(ECN)
1370:(MTF)
1364:(ATS)
923:(PDF)
806:(PDF)
799:(PDF)
625:2020
611:2019
603:91.9
597:2018
583:2017
575:97.1
569:2016
561:94.5
555:2015
547:90.3
541:2014
533:89.0
527:2013
519:78.4
513:2012
505:68.8
499:2011
491:87.3
485:2010
477:83.8
471:2009
463:56.2
457:2008
443:2007
429:2006
421:92.6
415:2005
407:89.2
401:2004
393:84.9
387:2003
379:72.7
373:2002
365:88.4
359:2001
345:2000
331:1999
323:89.6
317:1998
309:80.7
303:1997
295:72.3
289:1996
281:64.0
275:1995
267:60.9
261:1994
253:61.7
247:1993
239:50.2
233:1992
225:56.8
219:1991
211:50.8
205:1990
197:47.0
191:1985
183:29.6
177:1980
169:27.2
163:1975
139:Year
1711:Long
1515:and
1445:(BV)
1432:Beta
1067:2008
1041:2013
1020:2013
999:2022
960:2021
935:2024
906:2013
880:2013
836:ISBN
814:2013
725:and
90:(or
88:debt
36:The
151:GDP
113:or
63:'s
40:on
1893::
990:.
951:.
864:^
822:^
742:,
680:MC
653:MC
153:)
1119:e
1112:t
1105:v
1069:.
1043:.
1022:.
1001:.
976:.
962:.
937:.
908:.
882:.
858:.
844:.
816:.
703:N
699:N
688:P
684:N
666:P
660:N
657:=
20:)
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