How much testosterone do women have?

Women do have testosterone, and its levels are significant, though far less than men's. The majority of the testosterone in premenopausal women is produced by theca cells in the ovaries. Despite popular belief, most women have more testosterone than estradiol (a form of estrogen), though it is often bound up by proteins such as sex hormone-binding globulin (SHBG), making the free, or unbound, testosterone—the form most tests measure—only a small proportion of the total testosterone present.

Additionally, women naturally produce more of the androgen dihydrotestosterone (DHT) than men, which is linked with traits like male pattern baldness and prostate enlargement in men. The conversion of testosterone to DHT in women contributes to various physiological functions and conditions. Interestingly, high natural testosterone levels have even led to controversies in sports, like the case of female Olympians with naturally high levels who were banned from competing in certain events 1.