Editing Market capitalization (section)

==Description==
Market capitalization is sometimes used to rank the size of companies. It measures only the [[equity]] component of a company's [[capital structure]], and does not reflect management's decision as to how much [[debt]] (or [[Leverage (finance)|leverage]]) is used to finance the firm. A more comprehensive measure of a firm's size is [[enterprise value]] (EV), which gives effect to outstanding debt, preferred stock, and other factors. For insurance firms, a value called the [[embedded value]] (EV) has been used.

It is also used in ranking the relative size of [[stock exchange]]s, being a measure of the sum of the market capitalizations of all companies listed on each stock exchange. The total capitalization of [[stock market]]s or [[Macroeconomics|economic regions]] may be compared with other [[economic indicator]]s (e.g. the [[Buffett indicator]]). The approximate total market capitalization of all publicly traded companies was:

*2023: US$111 trillion<ref>{{Cite web |date=March 8, 2024|title=FY 2023 Market Highlights |url=https://www.world-exchanges.org/storage/app/media/FY%202023%20Market%20Highlights%20Report%20v3.pdf |website=[[World Federation of Exchanges]] |url-status=live |archive-url=https://data.worldbank.org/indicator/CM.MKT.LCAP.CD?end=2020&most_recent_value_desc=true&start=1975 |archive-date=17 September 2024 |access-date=17 September 2024}}</ref>
*2024: US$126 trillion<ref>{{Cite web |date=7 February 2025 |title=FY 2024 Market Highlights |url=https://www.world-exchanges.org/storage/app/media/Cally%20Billimore/WFE%20FY%202024%20Market%20Highlights%20Report%2010022025.pdf |website=[[World Federation of Exchanges]] |author=WFE Statistics Team |access-date=1 March 2025}}</ref>
*February 2025: US$124 trillion<ref>{{cite magazine |author=WFE Statistics Team |date=February 2025 |issue=93 |title=Dashboard - February 2025 |url=https://focus.world-exchanges.org/issue/february-2025/dashboard |magazine=Focus |publisher=[[World Federation of Exchanges]] |access-date=2025-02-27}}</ref>

=== Historical estimates of world market cap ===
Total market capitalization of all publicly traded companies in the world from 1975 to 2020.<ref name=":0">{{Cite web |title=Market capitalization of listed domestic companies (current US$) {{!}} Data |url=https://data.worldbank.org/indicator/CM.MKT.LCAP.CD?end=2020&most_recent_value_desc=true&start=1975 |access-date=September 20, 2021 |website=Data.WorldBank.org}}</ref>
{| class="wikitable sortable" style="text-align:right;"
!rowspan=2|Year
!colspan=2|World market cap
!rowspan=2|Number of<br>listed<br>companies
|-
!(in mil. US$)
!(% of [[Gross domestic product|GDP]])
|-
|1975
|1,149,245
|27.2
|14,577
|-
|1980
|2,525,736
|29.6
|17,273
|-
|1985
|4,684,978
|47.0
|20,555
|-
|1990
|9,519,107
|50.8
|23,732
|-
|1991
|11,340,785
|56.8
|24,666
|-
|1992
|10,819,256
|50.2
|24,947
|-
|1993
|13,897,390
|61.7
|28,300
|-
|1994
|14,639,924
|60.9
|30,290
|-
|1995
|17,263,728
|64.0
|33,379
|-
|1996
|19,806,691
|72.3
|35,617
|-
|1997
|22,029,761
|80.7
|36,946
|-
|1998
|24,555,201
|89.6
|37,928
|-
|1999
|33,181,159
|115.1
|38,414
|-
|2000
|30,925,434
|101.1
|39,892
|-
|2001
|26,792,162
|88.4
|40,157
|-
|2002
|22,802,792
|72.7
|38,894
|-
|2003
|31,107,425
|84.9
|41,051
|-
|2004
|36,540,980
|89.2
|38,724
|-
|2005
|40,512,446
|92.6
|39,096
|-
|2006
|50,074,966
|106.1
|43,104
|-
|2007
|60,456,082
|114.0
|44,034
|-
|2008
|32,418,516
|56.2
|43,949
|-
|2009
|47,471,293
|83.8
|42,669
|-
|2010
|54,259,518
|87.3
|43,427
|-
|2011
|47,521,341
|68.8
|44,323
|-
|2012
|54,503,237
|78.4
|43,772
|-
|2013
|64,367,842
|89.0
|44,853
|-
|2014
|67,177,254
|90.3
|45,743
|-
|2015
|62,268,184
|94.5
|43,983
|-
|2016
|65,117,714
|97.1
|43,806
|-
|2017
|79,501,948
|111.1
|43,440
|-
|2018
|68,893,044
|91.9
|43,554
|-
|2019
|78,825,583
|108.4
|43,248
|-
|2020
|93,686,226
|134.7
|49,839
|-
|2021
|111,159,259
|131.8
|51,337
|-
|2022
|93,688,922
|106.2
|47,926
|-
|2025
|159,360,000
|158.1
|48,669
|}