Indices may use both the market cap and the growth versus the value classification, to decide which stocks to include. So as an example, the S&P devised a list of stocks into the S&P 500, S&P MidCap 400 and the S&P SmallCap 600. The S&P 500 contains large-cap stocks such as Lockheed Martin, an aerospace company. The S&P MidCap 400 contains stocks such as Delfi and automotive technology company. The S&P SmallCap 600 contains a small-cap stocks such as The New York Times. Within each of these indices, the stocks are then ranked as more growth or more value according to price-to-earnings, price-to-sales, for price-to-book value ratios. These rankings are used to create more subgroups defined as either growth or value. For example, from the S&P SmallCap 600 list, stocks are selected for the S&P SmallCap 600 growth index or the S&P SmallCap 600 Value Index.