Calculate market capitalisation from shares outstanding and stock price, then classify by cap size from nano to mega.
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Equity Analysis
Market capitalisation (market cap) is a company's total market value, calculated by multiplying shares outstanding by the current stock price. It is the primary metric for classifying companies by size.
Market cap reflects the market's consensus valuation of a company's equity. It is used for index construction, portfolio allocation, and comparing companies by size.
Unlike enterprise value, market cap includes only equity value — it does not account for debt or cash on the balance sheet.
Multiply total shares by the current share price.
Market Cap = Shares Outstanding × Price Per Share
Use total shares outstanding (diluted if preferred) and the current market closing price.
Mega-cap: over 200 billion. Large-cap: 10–200 billion. Mid-cap: 2–10 billion. Small-cap: 300 million–2 billion. Micro-cap: 50–300 million. Nano-cap: below 50 million. These thresholds are approximate and vary by source.
A company has 50 million shares at 45 per share. Market cap = 50,000,000 × 45 = 2,250,000,000 (2.25 billion). Mid-cap classification.
Fluctuates with stock price. Does not reflect debt or cash. Free-float market cap (excluding locked-up shares) is used for index weighting but this calculator uses total shares.
Frequently asked questions
Not necessarily. Market cap reflects size, not quality or value. A mega-cap company can underperform a small-cap. Market cap is used for classification and benchmarking, not as a buy/sell signal.
Enterprise value = Market Cap + Total Debt − Cash. It represents the theoretical acquisition price of the entire business. Market cap is equity value only.
There is no universal standard. Different index providers (S&P, MSCI, Russell) use different cutoffs. The thresholds also shift over time as markets grow.
Diluted shares (including options and convertibles) give a more conservative market cap. Basic shares may understate the true equity claim.
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