Finance Calculators
XIRR Calculator
XIRR is an annualized rate for cash flows that occur on specific dates rather than at regular intervals. This calculator uses actual elapsed calendar days divided by 365, flags multiple observed roots instead of choosing one, and states the limits of its numerical search.
Calculator
Formula, assumptions and search limits
XIRR solves NPV(r) = Σ CFᵢ / (1 + r)^((dateᵢ − date₀) / 365) = 0, where date₀ is the first entered date and elapsed calendar days are divided by 365. For 1 Jan 2023: −10,000; 1 Jan 2024: +11,000, the elapsed time is 365 days and NPV(10%) = 0, so the result is 10%. Method reference: Microsoft Excel XIRR function documentation, https://support.microsoft.com/en-us/office/xirr-function-de1242ec-6477-445b-b11b-a303ad9adc9d. This solver scans 8,192 equally spaced points in ln(1+r) over rates from −99.999999% through 1,000,000%, then bisects sign-change intervals for up to 100 iterations per bracket (or until the ln(1+r) interval is narrower than 10⁻¹³). It does not prove that roots were not missed between samples, tangent roots, or roots outside the range; one found root is not proof of global uniqueness. Rates must exceed −100%. Taxes, fees and inflation are not inferred.
About This Calculator
What It Does
XIRR finds annualized rates that make a series of dated payments and receipts have zero net present value. Unlike a regular-period IRR, the dates may be uneven. Each amount uses the same currency, shown from this page's country context; the country does not change the mathematics.
Worked Example
Enter −10,000 on 1 January 2023 and +11,000 on 1 January 2024. The dates are 365 days apart, so the exponent is 365/365 = 1. At 10%, −10,000 + 11,000/(1.10) = 0; the annualized rate is 10%.
Real-World Usage
Compare investments with deposits, withdrawals or repayments on different dates. Review every reported root before interpreting a cash-flow pattern that changes sign repeatedly.
Local Context
The currency symbol and number formatting follow the selected country and language. The rate is currency-independent only when all entries are expressed in the same currency. Taxes, fees and inflation are not inferred. Microsoft Excel XIRR method reference: https://support.microsoft.com/en-us/office/xirr-function-de1242ec-6477-445b-b11b-a303ad9adc9d. The finite scan covers −99.999999% to 1,000,000% at 8,192 log-rate samples and can miss tangent, between-sample or out-of-range roots.
Last reviewed: October 2026.
For information only, not investment, tax or financial advice.
Frequently Asked Questions
What does XIRR calculate?
It estimates the annualized rate that makes the net present value of dated cash flows equal zero, using actual elapsed days divided by 365.
Why can XIRR have more than one answer?
When cash flows change sign more than once, the NPV equation can cross zero several times. This calculator lists roots it finds instead of selecting one, but its finite scan may miss roots.
Does this include taxes, fees or inflation?
No. Enter those cash flows yourself if appropriate; the calculator does not infer taxes, fees, inflation, currency conversion or investment risk.
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