A-Share Market Capitalization Query Guide: Easily Master Calculation Methods and Analysis Techniques

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A-Share total market capitalization is a core indicator for measuring the scale of a listed company and even the entire A-Share market. Investors can understand it through formulas at two levels.

• Individual company total market cap = Stock price × Total shares outstanding
• Entire A-Share market total market cap = Shanghai Stock Exchange total market cap + Shenzhen Stock Exchange total market cap

Obtaining this data is very convenient. Mainstream financial websites (such as East Money) or stock trading software (such as Tonghuashun APP) provide real-time total market capitalization information, helping users quickly grasp market dynamics.

Key Points

• A-Share total market capitalization is an important indicator for measuring company and market scale.
• Company total market cap equals the current stock price multiplied by total shares outstanding.
• Investors can use East Money or Tonghuashun APP to query market cap.
• Total market cap and floating market cap are different, each serving distinct analytical purposes.
• Market cap analysis can help investors understand company scale and risk.

Understanding A-Share Total Market Capitalization: Definition and Calculation

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To deeply understand the A-Share market, one must first grasp the concept of total market capitalization. Total market cap is not only a benchmark for measuring the scale of a single company but also the foundation for assessing the overall market size.

Core Definition of Total Market Capitalization

The calculation of total market capitalization (market capitalization) is very straightforward. It represents the total value of all issued shares of a listed company calculated at the current market price. This indicator reflects the market’s overall assessment of the company’s value.

Core Formula Company total market cap = Current share price × Total shares outstanding

Here, “total shares outstanding” includes all shares issued by the company. Investors should note that some of these shares may not be freely tradable on the market.

• Floating shares: Refers to shares that the public can trade on the exchange at any time.
• Non-floating shares: Includes shares held long-term by company founders, executives, government institutions, or strategic investors. These shares are usually restricted and cannot or rarely be traded on the open market.

Therefore, total market cap measures the company’s theoretical total value, while another indicator, “floating market cap,” better reflects the value of stocks actually tradable on the market.

Calculation Method for Individual Company Market Cap

Once the formula is mastered, calculating the market cap of any listed company becomes very simple. We take the well-known company in the Chinese A-Share market, Kweichow Moutai (600519.SH), as an example to demonstrate the specific calculation steps.

1. Obtain real-time stock price: First, investors need to query the current stock price of Kweichow Moutai. This data can be easily obtained through any mainstream stock trading software or financial website. Assume the queried real-time stock price is ¥1,500.00 per share.
2. Find the company’s total shares outstanding: Next, locate the total shares outstanding of Kweichow Moutai. This data is usually published in the company’s financial reports (annual or quarterly reports) or on financial data platforms. Kweichow Moutai’s total shares outstanding is approximately 1.256 billion shares.
3. Perform the multiplication: Finally, multiply the stock price by the total shares outstanding to get the total market cap.

   Total market cap = 1,500.00 CNY/share × 1.256 billion shares ≈ 1.88 trillion CNY

Through this simple three-step method, anyone can quickly calculate a company’s total market cap. For a more intuitive understanding of market cap scale, the table below compares relevant data for another industry giant, CATL (300750.SZ).

The chart below shows CATL’s stock price and trading volume fluctuations over a specific period, with stock price being the most critical dynamic variable in market cap calculation.

Composition of A-Share Market Total Market Capitalization

The market cap of individual companies forms the micro foundation of the market, and summing the market caps of all listed companies yields the total market cap of the entire market. A-Share total market capitalization is the core indicator for measuring the scale of China’s mainland stock market.

Its composition is very clear:

A-Share total market cap = Total market cap of all listed companies on Shanghai Stock Exchange + Total market cap of all listed companies on Shenzhen Stock Exchange

Specifically, it covers:

• Shanghai Stock Exchange: Includes all companies on the main board and STAR Market.
• Shenzhen Stock Exchange: Includes all companies on the main board and ChiNext.

When news reports mention “A-Share total market cap exceeding 100 trillion,” it refers to this sum. This macro data is an important basis for judging the overall market temperature and assessing its position in global capital markets.

Total Market Cap Query: Guide to Two Practical Tools

Although the calculation formula is simple, investors do not need to manually calculate the market cap of each company. With powerful financial tools, obtaining real-time data becomes effortless. The following introduces usage methods for two mainstream tools to help users quickly query target company market cap information.

Querying with East Money Website

East Money is a leading internet financial information platform in mainland China, providing comprehensive stock data. Querying market cap through its website is very convenient.

1. Visit the website and search: Open East Money, enter the target company’s stock code or name in the search box at the top of the page, such as “CATL” or “300750”.
2. Enter the individual stock page: Click on the search result to enter the detailed page for CATL.
3. Locate the data area: On the right side of the page or below the quote section, there is a key indicator display area. It clearly lists the company’s core data items.

Data location diagram The image below simulates the layout of East Money’s individual stock page. Arrows indicate where users can quickly find market cap information:

• ① Total market cap: Reflects the company’s overall scale and market value.
• ② Floating market cap: Represents the value of stocks currently freely tradable on the market.

Querying with Tonghuashun APP

Tonghuashun is a popular mobile stock trading and analysis software among investors. Its APP design is intuitive, and querying data is equally convenient.

1. Open the APP and search: On the Tonghuashun APP homepage, enter the stock code or abbreviation in the top search bar.
2. View individual stock quotes: After entering the individual stock page, key financial indicators are directly displayed below the price chart.
3. Identify market cap data: Typically, “total market cap” and “floating market cap” are prominently displayed as core data for easy viewing.

Data location diagram The image below shows a typical interface of Tonghuashun APP’s individual stock page. Market cap data is usually located at:

• ① Total market cap: Displays the company’s total market valuation.
• ② Floating market cap: Displays the market value of the actual floating portion.

Through the above two tools, anyone can achieve second-level queries for A-Share total market cap. To better utilize this data, understanding the difference between “total market cap” and “floating market cap” is crucial.

Market Cap Analysis: From Beginner to Advanced Techniques

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After mastering market cap query methods, the more critical aspect is learning how to apply it for analysis. Market cap is not just a number; it is a window into understanding company fundamentals and market trends.

Market Cap Scale and Stock Classification

Investors typically classify stocks based on market cap scale, which helps identify a company’s development stage and risk characteristics. Companies of different scales have significantly different growth potential and stability.

Application Techniques for Market Cap Analysis

Market cap is an important basis for building investment portfolios and formulating strategies. Investors can use market cap to match their risk preferences and investment goals.

Charles Schwab Managing Director of Investment Management Viraj Desai stated: “Both professional and individual investors can use market capitalization as a factor in building portfolios to achieve their goals. Market capitalization can provide options that align with your risk tolerance, investment time horizon, and market outlook.”

In addition, market cap plays a core role in constructing market indices. For example, the CSI 300 Index is a market cap-weighted index that tracks the performance of the top 300 stocks by market cap on the Shanghai and Shenzhen exchanges. Larger market cap companies have higher weights in the index.

Macro Perspective: Market Cap vs. GDP Comparison

Comparing a country or region’s total A-Share market capitalization with its gross domestic product (GDP) provides a macro reference for the overall market valuation level. This ratio is often called the “Buffett Indicator.”

As shown in the chart, this ratio varies across different economies. Although it is not the sole criterion, it can help investors understand the market’s relative position from a broader perspective.

Common Investment Misconceptions Clarified

When using market cap for analysis, investors should be wary of common misconceptions to avoid erroneous judgments.

• Misconception 1: Low stock price equals cheap A common misunderstanding is that stocks with low prices are “cheap.” In reality, market cap (stock price × total shares outstanding) is the accurate indicator of company scale. A low stock price may simply result from a large total share count or underlying fundamental issues.
• Misconception 2: Only investing in large-cap stocks is safest Although large-cap stocks are generally more stable, over-concentrating on them carries risks. Their growth potential may be limited, and poor performance from a few heavyweights can have disproportionate impacts on the entire portfolio.

Total market capitalization is a core indicator for measuring company and market scale, easily queried with modern financial tools. It serves not only as a micro benchmark for evaluating individual companies but also as a macro perspective for understanding overall market conditions.

Market cap analysis plays an important role in investment decisions. It helps investors understand the relationship between company scale and risk-return potential, thereby facilitating company positioning and risk assessment.

Mastering market cap analysis is a key step in building a mature investment knowledge system.

FAQ

Why does market cap change every day?

Total market cap equals stock price multiplied by total shares outstanding. Since a company’s stock price fluctuates continuously with market buying and selling during trading hours, the total market cap changes in real time accordingly. Total shares outstanding are usually fixed in the short term.

Does a high market cap necessarily mean a better company?

Not necessarily. A high market cap typically indicates a large and mature company, but it does not directly equate to high growth potential or low risk. Evaluating a company requires comprehensive analysis of its financial condition, industry position, future prospects, and other factors.

Does total market cap include the company’s debt?

No. Total market cap only calculates the total market value of all company shares, representing equity value. A more comprehensive indicator is enterprise value, which accounts for the company’s debt and cash holdings.

Which is more important for A-Shares: total market cap or floating market cap?

Both indicators have their uses. Total market cap is used to measure a company’s overall scale and industry position. Floating market cap reflects the actual tradable stock volume on the market, providing more reference for analyzing short-term capital flows and price fluctuations.