The term "mid-cap" refers to a company that has a market capitalization, or value, that falls between those of small and large companies. Market capitalization is calculated by multiplying the current stock price by the total number of shares outstanding. A mid-cap company typically has a market cap ranging from $2 billion to $10 billion. These types of companies are often considered to be well-established, with steady growth and a solid financial position. They may have a national or regional presence, but not necessarily a global one. Mid-caps can offer investors the potential for higher returns than smaller companies while also providing more stability than larger ones.