Market Cap and Which Share Count It Uses
The recovered share count against the filed diluted counttable ·
2026-08-22 · 5×6
Dual class tickers and the market cap printed against eachranking ·
2026-08-22 · 4×4
Days since the period each filed share count coversranking ·
2026-08-22 · 8×3
Apple's basic and diluted share counts, quarter by quarterseries ·
2026-08-22 · 20×4
The recovered share count against the filed diluted count
The recovered share count against the filed diluted count
| ticker | implied_shares_mm | filed_diluted_shares_mm | gap_pct | period_covered | priced_on |
|---|---|---|---|---|---|
| JPM | 2658 | 2782 | 4.43 | Dec 31, 2025 | Aug 20, 2026 |
| AAPL | 14594 | 14810 | 1.46 | Dec 27, 2025 | Aug 20, 2026 |
| NVDA | 24221 | 24391 | 0.7 | Apr 26, 2026 | Aug 20, 2026 |
| MSFT | 7426 | 7460 | 0.46 | Dec 31, 2025 | Aug 20, 2026 |
| KO | 4303 | 4313 | 0.24 | Jul 3, 2026 | Aug 20, 2026 |
the exact SQL behind every number
WITH vendor AS
(
SELECT
ticker,
argMax(toFloat64(market_cap), date) AS mkt_cap,
argMax(toFloat64(price), date) AS px,
argMax(formatDateTime(date, '%b %e, %Y'), date) AS priced_on
FROM global_markets.stocks_ratios
WHERE ticker IN ('AAPL', 'MSFT', 'NVDA', 'KO', 'JPM', 'XOM')
AND price > 0
AND market_cap > 0
GROUP BY ticker
),
filed AS
(
SELECT
ticker,
argMax(toFloat64(diluted_shares_outstanding), (filing_date, period_end)) AS diluted,
argMax(formatDateTime(period_end, '%b %e, %Y'), (filing_date, period_end)) AS period_covered
FROM
(
SELECT
arrayJoin(tickers) AS ticker,
filing_date,
period_end,
diluted_shares_outstanding
FROM global_markets.stocks_income_statements
WHERE hasAny(tickers, ['AAPL', 'MSFT', 'NVDA', 'KO', 'JPM', 'XOM'])
AND timeframe = 'quarterly'
AND diluted_shares_outstanding > 0
)
WHERE ticker IN ('AAPL', 'MSFT', 'NVDA', 'KO', 'JPM', 'XOM')
GROUP BY ticker
)
SELECT
v.ticker AS ticker,
round(v.mkt_cap / v.px / 1e6) AS implied_shares_mm,
round(f.diluted / 1e6) AS filed_diluted_shares_mm,
round(abs(v.mkt_cap / v.px - f.diluted) * 100 / f.diluted, 2) AS gap_pct,
f.period_covered AS period_covered,
v.priced_on AS priced_on
FROM vendor AS v
INNER JOIN filed AS f ON f.ticker = v.ticker
ORDER BY gap_pct DESC
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