Excel
IRR function in Excel
Returns the internal rate of return for a series of cash flows
=IRR(values, [guess])IRR syntax and parameters
Two arguments, one required.
- valuesarrayRequired
- guessnumberOptional
IRR examples
Formulas you'll actually reuse.
The return of a project: −$50,000 today, then $15,000 a year for five years:
=IRR(B2:B7)Result
0.1524Rising cash flows as an array constant:
=IRR({-50000, 12000, 15000, 18000, 21000})Result
0.1098
IRR in Google Sheets
Same name — your formula ports as-is.
Try IRR in the playground
Edit the example — nothing to install.
Preloaded with the IRR formula from Example 1 — change anything and watch it respond.
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IRR errors
What they mean — and the fixes.
#NUM!No sign change in the cash flows, or the search didn't converge — the first value must be negative; pass a guess if the flows are unusual.
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