# Market Capitalization

Total market value of the company's equity.

## Definition

Market cap is the share price multiplied by total diluted shares outstanding. The total dollar value of the company's equity at current market prices.

## Formula

Stock Price × Diluted Shares Outstanding

## Why it matters

Market cap is the standard size-classification (small-cap, mid-cap, large-cap). It's also what you'd pay for the equity alone — but not what you'd pay for the whole business (that's enterprise value).

## How Standard Equity uses it

Computed and shown in the report header. Used as the numerator for P/B and P/FCF multiples.

## The metric

| Category | Valuation |
| -------- | --------- |
| Unit     | $M        |

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