Profit and expected future profit (based on growth rate) is one of the ways a (non publicly traded) company is valued. Theoretically that's how price targets a

Profit and expected future profit (based on growth rate) is one of the ways a (non publicly traded) company is valued. Theoretically that's how price targets are created by analysts. So market cap is explainable through that metric. Profit this year and no growth vs. the same profit this year and double profits next year should lead to different market caps, and it generally does.