A new map redefines how you look at the United States. Cloud computing company Broadview created a map showing the largest company in each state. They then replaced the state with the logo from the companies.
But the metric for the map isn't simple, "How much money do they have?" Instead, Broadview used something called market capitalization value.
It sounds like a super fancy term, but it's fairly simple. The market cap refers to the outstanding shares available times the value of each share. So if a company has 1 million shares and each share is $100, the market cap value is $100 million. Which, of course, means all these companies are public.
This is different from valuing a company's assets. Because assets aren't readily available or liquid, but stock shares are. And, as Broadview notes, the market cap value indicates a certain security in the shares of a company. "Larger market cap value would indicate a better public perception," the site notes. "Better perception leads to more value per share and less risk of that value plummeting."
But that doesn't mean numbers don't change routinely. In fact, SimpleMost notes the largest companies in both Wisconsin and Alabama changed since the publishing of the map. The map uses data from the end of 2016.
Some companies shouldn't surprise you. Like, for instance, the fact that ExxonMobil dominates Texas. Located in Irving, the company owns a cap value of $346.91 billion. And then there's Apple, which leads not just California and the U.S., but the entire world. The Cupertino-based company is the most valuable company on the planet, with a market cap value of $591.8 billion.
That's a lot of iPhones.
But some of the biggest companies headquarter in states with disproportionately small populations. For instance, General Communication, Inc. owns a cap value of nearly $554 million but comes from the relatively small town of Anchorage, Alaska. Check out the whole map below and head to Broadview for a list of market cap values by state.