ExcelExcel 2021+

LET function in Excel

Assigns names to calculation results

=LET(name1, name_value1, calculation_or_name2, [name_value2, calculation_or_name3...])

LET syntax and parameters

Five arguments, three required.

name1stringRequired
The first name to assign. Must start with a letter. Cannot be the output of a formula or conflict with range syntax.
name_value1anyRequired
The value that is assigned to name1.
calculation_or_name2anyRequired
One of the following:A calculation that uses all names within the LET function. This must be the last argument in the LET function.A second name to assign to a second name_value. If a name is specified, name_value2 and calculation_or_name3 become required.
name_value2anyOptional
The value that is assigned to calculation_or_name2.
calculation_or_name3anyRepeating
One of the following:A calculation that uses all names within the LET function. The last argument in the LET function must be a calculation.A third name to assign to a third name_value. If a name is specified, name_value3 and calculation_or_name4 become required.

Formulas you'll actually reuse.

Name the tax rate once instead of repeating it four times:

=LET(tax, 0.19,
  net, B2,
  gross, net * (1 + tax),
  TEXT(gross, "$#,##0.00") & " incl. VAT"
)

Result"$118.99 incl. VAT"

Reuse an expensive calculation — outliers above 2σ, computed once:

=LET(range, B2:B13,
  avg, AVERAGE(range),
  sd, STDEV(range),
  COUNTIF(range, ">" & (avg + 2 * sd))
)

Result2

Same name — your formula ports as-is.

Edit the example — nothing to install.

Preloaded with the LET formula from Example 1 — change anything and watch it respond.

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What they mean — and the fixes.

#NAME?
A value expression references a name defined after it — LET only sees names declared earlier in the argument list.

More ways Excel gets this done.