Market cap equals the current share price multiplied by the number of weighted shares outstanding. Weighted shares outstanding (or “implied shares outstanding” as Yahoo Finance calls it) is a calculation that takes into consideration any changes in the number of outstanding shares over a specific reporting period. Weighted shares outstanding is actually a stand-in for a relatively complex value. To calculate weighted shares outstanding, you need: 1) share class shares outstanding for each share class 2) par value per share for each share class

Then, given share classes A - Z, apply the following formula to calculate weighted shares outstanding for share class A: This equation sums up the outstanding shares of each share class weighted by their par value, then divides out the par value of the share class we’re interested in to get a count of shares outstanding in that unit. You can query a company’s Market Cap using our Ticker Details v3 endpoint.