According to Fama French Three-Factor model, market value of company equity is used to calculate

According to Fama French Three-Factor model, market value of company equity is used to calculate size of company. The Fama and French model has three factors: size of firms, book-to-market values and excess return on the market. In other words, the three factors used are SMB (small minus big), HML (high minus low) and the portfolio's return less the risk free rate of return.