Read your Cap Table: Summary, Fully diluted, and Outstanding views
Your Cake cap table opens to a live view of who owns what — no spreadsheet export needed. This article covers the three views (Summary, Fully diluted, and Outstanding), what each number means, and how to dig into the detail.
The Summary view
The Summary view is your cap table at a glance. Across the top you’ll see your headline numbers:
Total raised — total invested across shares, SAFEs, and notes
Fully diluted — total shares if all options, warrants, and convertibles converted
Outstanding — the shares actually issued today
Stakeholders — the number of people or entities on your cap table
Average share price — your latest valuation divided by total securities
Authorized — the total shares your company can issue
Last 409A — your most recent fair market value
Below the numbers, an equity breakdown bar shows how ownership splits across share classes, options, RSUs, warrants, and your unallocated pool — hover any segment for its share count and estimated value. Further down you’ll find tables for Share classes, SAFEs & notes, Warrants, and Incentive plans, each shown only if you have them.
Switch between Fully diluted and Outstanding
Use the toggle at the top to change how ownership is calculated:
Fully diluted — assumes all options, warrants, and convertibles convert to shares. Conversion ratios are applied automatically.
Outstanding — counts only the shares issued today, with no conversions applied.
The toggle stays visible so you always know which basis you’re reading before you read a single number.
The ownership table
On the Fully diluted and Outstanding views, each stakeholder appears as a row. By default you’ll see:
Status — whether they’ve been invited to their portal
Total holdings
Invested
Estimated value
Ownership %
Need more detail? Use the column picker to add share-class columns, and click any row to open that stakeholder.
Find a stakeholder
Search by name, filter by Status or Type, and sort any column from its header. See Search, filter, and sort your cap table for the full how-to.
Issue equity or run an action
You don’t need to leave the page. From the Fully diluted or Outstanding view:
Use the Add menu to issue shares, add an SPV, or upload from a spreadsheet.
Use the Actions menu for a share split, repurchase, or conversion.
Use a stakeholder’s row menu to issue shares, SAFEs, or convertibles, or to grant options, RSUs, RSAs, or warrants.
Download your cap table
Click Download Cap Table (top right) to export a full copy. See Export Your Cap Table Data for the file options.
Local variations
Outside the US, Cake matches your local terminology — for example you may see Total shares and Total securities in place of Outstanding and Fully diluted, and Ordinary / Preference in place of Common / Preferred. Authorized shares and 409A values are hidden.