Market cap is the total market value to buy the whole company. It is equal to the share price times the number of Shares Outstanding (EOP). Nikola's share price for the quarter that ended in Dec. 2024 was $1.19. Nikola's Shares Outstanding (EOP) for the quarter that ended in Dec. 2024 was 115.64 Mil. Therefore, Nikola's market cap for the quarter that ended in Dec. 2024 was $137.61 Mil.
Nikola's quarterly market cap
declined
from Jun. 2024 ($397.00 Mil) to Sep. 2024 ($253.20 Mil) and
declined
from Sep. 2024 ($253.20 Mil) to Dec. 2024 ($137.61 Mil).
Nikola's annual market cap
increased
from Dec. 2022 ($1,107.95 Mil) to Dec. 2023 ($1,163.55 Mil) but then
declined
from Dec. 2023 ($1,163.55 Mil) to Dec. 2024 ($137.61 Mil).
Enterprise Value is the theoretical takeover price. It is more comprehensive than market capitalization (market cap), which only includes common equity. Enterprise Value is calculated as the market cap plus debt and minority interest and preferred shares, minus total cash and cash equivalents. Nikola's Enterprise Value for Today is $110.48 Mil.
Nikola (OTCPK:NKLAQ) Market Cap Explanation
Market cap is not the real price you pay for a company. If you buy the company and become its owner, you become the owner of the cash the company has, and you also assume the companys debt. The real price you pay is the Enterprise Value.
Warren Buffett uses the ratio of total market cap of all public traded companies over GDP to measure if the market is expensive. As of April 2012, the US total market cap is about $14.7 trillion, while the US GDP is about $15 trillion. The market was modestly overvalued.
Nikola Market Cap Related Terms
Nikola Market Cap Historical Data
* Premium members only.
The historical data trend for Nikola's Market Cap can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Farm & Heavy Construction Machinery subindustry, Nikola's Market Cap, along with its competitors' market caps and Market Cap data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Nikola Market Cap vs Farm & Heavy Construction Machinery Industry
For the Farm & Heavy Construction Machinery industry and Industrials sector, Nikola's Market Cap distribution charts can be found below:
* The bar in red indicates where Nikola's Market Cap falls into.
Market cap is the short version of market capitalization. It is the total market value to buy the whole company. It is equal to the share price times the number of shares outstanding.
Nikola's Market Cap for the fiscal year that ended in Dec. 2024 is calculated as
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Nikola (NKLAQ) has a Market Cap of $0.84 Mil as of Jul. 01, 2026. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Nikola and its competitors.
Is Nikola's Market Cap too high?
Nikola's current Market Cap is $0.84 Mil. The Farm & Heavy Construction Machinery industry median Market Cap is 392.66. Nikola's value of $0.84 Mil is 99.8% below this industry median.
How does Nikola's Market Cap compare to NMHI and GP?
Nikola's Market Cap of $0.84 Mil can be compared against companies in the Farm & Heavy Construction Machinery industry. The industry median Market Cap is 392.66. Nikola's value of $0.84 Mil is 99.8% below this benchmark. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Market Cap for a Farm & Heavy Construction Machinery company?
The median Market Cap among Farm & Heavy Construction Machinery companies is 392.66, based on 214 companies in the industry. Companies in the top quartile (top 25%) have a Market Cap significantly above this median, while those in the bottom quartile fall well below. However, Market Cap should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Nikola's current Market Cap of $0.84 Mil is 99.8% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Market Cap mean?
A high Market Cap can signal that a stock is expensive relative to its fundamentals. Market cap equals the total value of a company's shares: price times shares outstanding. View historical data on Nikola and its competitors. For the Farm & Heavy Construction Machinery industry, the median Market Cap is 392.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Nikola's current Market Cap is $0.84 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Nikola stock overvalued right now?
Nikola (NKLAQ) has a current Market Cap of $0.84 Mil. The current Market Cap is $0.84 Mil and 99.8% below the Farm & Heavy Construction Machinery industry median of 392.66. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Market Cap calculated?
Market Cap is calculated from a company's financial statements. For Nikola (NKLAQ), the current Market Cap is $0.84 Mil as of Jul. 01, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Nikola Corp is a technology innovator and integrator, working to develop inventive energy and transportation solutions. It works on a business model that enables customers and fleets to integrate next-generation truck technology, hydrogen fueling and charging infrastructure, and related maintenance. It operates in two business units: Truck and Energy. The Truck business unit is engaged in manufacturing and selling FCEV and BEV trucks that provide environmentally friendly, cost-effective solutions to the trucking sector. The Energy business unit is engaged in developing and constructing a network of hydrogen fueling stations to meet the hydrogen fuel demand for the company's customers, as well as other third-party customers.
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