— Stock Market
Market Cap Calculator
Calculate market capitalization from share price and shares outstanding. See the company size category, enterprise value after debt and cash, float-adjusted cap, fully diluted cap, and compare multiple companies side by side.
Market cap
$5,000,000,000
- Cap category
- Mid cap
Try: $50 × 100M shares = $5B, With debt & cash (EV), A mega cap, Compare three companies
— Size categories
| Category | Range |
|---|---|
| Mega cap | 200B+ |
| Large cap | 10B – 200B |
| Mid cap | 2B – 10B |
| Small cap | 300M – 2B |
| Micro cap | 50M – 300M |
| Nano cap | under 50M |
— Market cap by company
Download— How it works
Market cap = share price × shares outstanding. Enterprise value = market cap + total debt − cash. Float-adjusted cap counts only freely-traded shares; fully-diluted cap includes options and convertibles.
Sizing a company
Market cap is the most basic measure of a company’s size: multiply the share price by the shares outstanding and you have the total value the market places on its equity. It matters more than the share price alone — a $500 share and a $5 share say nothing about which company is bigger until you know the share count. Caps are then bucketed into categories, and the bucket shapes everything from risk to index membership: large caps are the stable giants, small and micro caps the riskier, faster-moving minnows.
Worked example — a $50 share price and 100 million shares: Market cap = $50 × 100,000,000 = $5 billion — a mid-cap company. The size ladder below shows where that sits among the standard categories.
Enterprise value — the takeover price
Market cap values the equity, but a buyer acquiring the whole company also takes on its debt and gets its cash. Enterprise value captures that: market cap plus total debt minus cash. It’s the truer “cost to buy the business,” and the figure behind multiples like EV/Sales and EV/EBITDA. A debt-laden company has an enterprise value well above its market cap; a cash-rich one, below. Enter debt and cash to see it — it’s why two firms with identical market caps can be valued very differently.
Float-adjusted and fully-diluted
Two refinements matter for index investors and the cautious. The free-float cap counts only shares that actually trade — excluding locked-up insider, government or strategic stakes — and it’s the basis most major indices use to weight their members, since untraded shares can’t be bought. The fully-diluted cap goes the other way, adding the shares that options, warrants and convertibles would create, for the larger count that dilution implies. The size categories here use the standard thresholds, conventionally quoted in US dollars; for other currencies treat them as a guide. Market cap is a starting point for sizing and screening, not a valuation in itself. Not investment advice.
— Reader questions
How do I calculate market capitalization?
Multiply the current share price by the total number of shares outstanding. A $50 share price with 100 million shares gives a market cap of $5 billion. It’s the market’s total valuation of the company’s equity.
What are the market cap categories?
By the common convention: mega cap is $200bn and above, large cap $10–200bn, mid cap $2–10bn, small cap $300m–2bn, micro cap $50–300m, and nano cap below $50m. Thresholds are conventionally quoted in US dollars.
What is the difference between market cap and enterprise value?
Market cap values only the equity (price × shares). Enterprise value adds total debt and subtracts cash, reflecting what it would actually cost to acquire the whole business. EV is the better figure for comparing companies with different debt levels.
What is float-adjusted market cap?
Market cap counting only the free float — shares available to trade, excluding locked-up insider or strategic holdings. Most major stock indices weight their constituents by float-adjusted cap, because untraded shares can’t be bought by investors.
What is fully-diluted market cap?
Market cap using the fully-diluted share count — shares outstanding plus all options, warrants and convertibles that could become shares. It shows the larger valuation base once potential dilution is taken into account.