Discount a series of cash flows to today’s money and see the net present value, a year-by-year table, IRR, payback and an NPV profile — calculated on your device.
NPV Calculator
Discount a series of cash flows to today’s money and see the net present value, a year-by-year table, IRR, payback and an NPV profile — calculated on your device.
The NPV Calculator runs entirely in your browser. The discount rates and cash flows you enter stay on your device and are never uploaded.
Net present value answers one question: after discounting every future cash flow at your required rate of return, is the project worth more than it costs? Enter the initial investment, a discount rate and the cash flow for each period — yearly, quarterly or monthly, arriving at the end or the start of the period, with an optional terminal value. The calculator shows the NPV with an accept or reject reading, a discounted cash-flow table with discount factors and cumulative present value, plus IRR, MIRR, payback, discounted payback and the profitability index. Switch to dated mode for a 365-day XNPV, compare two projects side by side, or read the NPV profile to see where the project stops paying. Every figure is computed in your browser; the numbers you type are never uploaded.
Features
NPV with a clear accept, reject or break-even reading and the exact discount applied
Discounted cash-flow table: cash flow, discount factor, present value and cumulative PV for every period
Yearly, quarterly or monthly periods, with cash arriving at the end or the start of each period
Dated mode that discounts actual dates on a 365-day year, like Excel’s XNPV
IRR, MIRR, payback, discounted payback and profitability index from the same cash flows
NPV profile chart with the IRR crossing marked, plus a rate sensitivity table at ±2 and ±4 points
Side-by-side comparison of two projects, with an optional terminal value and growing cash flows
An Excel check box that writes the matching NPV formula and explains Excel’s end-of-period quirk
How to use the NPV Calculator
Type the discount rate and choose whether the cash flows are per period or tied to dates
Enter the initial investment as a positive cost, then a cash flow for each period or date
Optionally add a terminal value, paste a column from a spreadsheet, or generate growing flows
Read the NPV, the discounted table and the IRR, then check the NPV profile and sensitivity table
Turn on Compare to test a second project, or copy the Excel formula to reproduce the result
Example
Input
Discount rate: 10 %
Initial investment: 1,000
Cash flows (end of year 1-3): 300, 400, 500
Output
NPV: -21.04 (reject)
PV of the flows: 272.73 + 330.58 + 375.66 = 978.96
IRR: 8.90 % Profitability index: 0.979
Payback: 2.60 years Discounted payback: not recovered
Excel: =NPV(0.1,300,400,500)-1000
The project returns about 8.9 %, below the 10 % hurdle, so its NPV is negative.
Common errors & troubleshooting
My Excel NPV is higher than this result. — Excel’s NPV function discounts the first value by one full period. Keep the initial investment outside the function and add it afterwards, as in =NPV(rate, flows)+initial, instead of including it in the range.
The IRR shows as undefined. — IRR needs at least one outflow and one inflow. If every flow has the same sign no rate can make the NPV zero, so use the NPV and payback figures instead.
The result changes a lot when I switch to monthly periods. — The discount rate is annual, so it is divided by 12 (or compounded down) to get a monthly rate. Make sure the cash flows really are monthly amounts, and choose the conversion method under Advanced if it matters.
A dated row is rejected. — Every date must be a real calendar day on or after the start date. Dated mode treats the start date as time zero, exactly as XNPV treats its first date.
Frequently asked questions
How does the NPV Calculator discount each cash flow?
Each flow is multiplied by 1 divided by (1 + r) raised to the number of periods until it arrives, then all present values are added together with the initial outlay. A flow of 400 two years out at 10 % is worth 400 / 1.21 = 330.58 today.
What does a negative NPV mean for my project?
It means the cash flows are worth less today than the investment at your chosen discount rate, so the project earns less than your required return. A positive NPV earns more than that rate, and an NPV near zero earns about the rate.
Can I calculate NPV with real dates instead of whole periods?
Yes. Switch to Dated mode, set the start date for the initial investment, and give each cash flow its own date. Flows are discounted over the actual days divided by 365, which matches Excel’s XNPV.
When should I use NPV instead of IRR to choose between projects?
Use NPV when projects differ in size, timing or when the flows change sign more than once, because IRR can rank them wrongly or give several answers. The compare mode and NPV profile show where the two measures disagree.
What is the difference between end-of-period and start-of-period cash flows?
End-of-period flows arrive at times 1, 2, 3 and so on, like an ordinary annuity. Start-of-period flows arrive at times 0, 1, 2, like an annuity due, so each one is discounted a period less and the NPV is higher.
How is the terminal value treated in the NPV calculation?
The terminal value is a single extra cash flow, such as resale value or the value of ongoing operations, placed at the end of the final period and discounted like any other flow. Leave it blank if the project simply ends.
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