Calculation of Market Cap from ADR

EODHD API
1

Is it possible to calculate the correct historical Market Cap for example from NTTYY.US and MUFG.US?

2

Hello Michael!

Yes, you can calculate the correct historical Market Cap using our data and this article: How to Calculate: Historical Financial Ratios | EODHD APIs Academy.

3

This is an incredibly useful article, I’ve been able to calculate a lot of valuable ratios thanks to it.

4

Hi, what I didn’t write, because I hoped you will looking up this tickers. This companies are from Japan listed in USA. They have unforunately a completly wrong Market Cap because the number of shares are wrong. Actually almost for all ADR’s the MCAP it complelty wrong. How can I fix that?

5

Hello!
I have compared the data for these ADRs with their primary ticker and confirmed that the outstanding shares are displayed correctly. We recommend using the commonStockSharesOutstanding field from the Balance Sheet, as it provides more accurate values.

6

Hi, why does MUFG.US has his outlier in Shares from 2024-09-30? 1810520752800 → Looks for me like a mistake. Thanks for checking.

7

It was a data glitch. The value has been updated.

1 Like
8

Hi Levon, could you also check “PPERY.US”? The Market Cap is completly off. In Yahoo Finance the Shares are 2.3 B. you having 937 B. Thanks a lot. I appreciate it.

9

Hi Michael!
As far as I can see, the values on Yahoo match ours.
https://finance.yahoo.com/quote/PPERY/balance-sheet/

10

Hi Levon, if you take a closer you look will see that Yahoo has only 93 Mil. You having 937 billion. In the key stats yahoo has 2.3 billion. This actually the number which they take for the Market Cap calculation.

11

Hi Michael,

If you take a look at the note above the table, it says “All numbers in thousands.” You can also verify this by checking the primary ticker BMRI listed on the Indonesian stock exchange (JK), which also shows 93 billion outstanding shares. For some reason unknown to us, this company has a secondary ticker, PPERF, which also reports 93 billion outstanding shares. All these figures are consistent with ours — we do not have the 937 billion shares you mentioned.
https://finance.yahoo.com/quote/PPERY/balance-sheet/
https://finance.yahoo.com/quote/PPERF/balance-sheet/
https://finance.yahoo.com/quote/BMRI.JK/balance-sheet/

1 Like
12

Hi Levon, you are right. Thanks a lot. One last point. If you calculate the 93 billion * 11.11 (stock price) then you end up with Market Cap from 1.036.933.333.319. It should be around 26 billion. Any idea how I can fix that?

13

You are very welcome!
This is a complex case, as all sources report the number of outstanding shares as 93 billion. However, when calculating market capitalization, all sources, including ours, use the figure of 2.33 billion, which is also reflected in the SharesStats sector of the Fundamental API. There is no mention of this value in any official source, yet somehow, all sources use it in their calculations.

1 Like