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IRR Calculator
Internal Rate of Return on yearly cashflows.
Enter values to see your result
Frequently asked questions
What is IRR?
The discount rate that makes the NPV of all cashflows equal to zero. It is the expected annualised return of the project under given cashflow assumptions.
IRR vs NPV — which to use?
For accept/reject: either works. For ranking between projects: NPV is more reliable — IRR can mislead when cashflows are unusual (multiple sign changes) or when comparing different-sized projects.
Can IRR have multiple values?
Yes — if cashflows change sign more than once (e.g., positive-negative-positive), multiple IRRs may exist. In such cases, use NPV or MIRR instead.
What if no IRR exists?
If cashflows never turn positive (or never turn negative), no rate makes NPV=0. This calculator flags that as "no IRR in range".