# Excel XNPV Function

The Excel XNPV function is a financial function that calculates the net present value (NPV) of an investment using a discount rate and a series of cash flows that occur at irregular intervals.

**rate**- Discount rate to apply to the cash flows.**values**- Values representing cash flows.**dates**- Dates that correspond to cash flows, in any order.

The Excel XNPV function calculates the net present value (NPV) of an investment based on a discount *rate* and a series of cash flows that occur at irregular intervals. *Values* represent cash flows and be correspond to *dates*. Negative values represent cash paid out; positive values represent cash received. *Dates* represent a schedule of payments and must be valid Excel dates. The first date indicates the beginning of the schedule of payments and must be the earliest date. Subsequent dates may occur in any order.

### Example

In the example shown, the formula in F6 is:

=XNPV(F4,B5:B10,C5:C10)

XNPV doesn’t discount the initial cash flow. Subsequent payments are discounted based on a 365-day year. To discount to a particular valuation date, you can set up XNPV so that the first cashflow is zero, associated with the valuation date.

### Notes

*Rate*is provided as a percentage (.12 for 12%)*Dates*do not need to be in chronological order.*Dates*must be valid Excel dates- XNPV doesn’t discount the initial cash flow

## Download 100+ Important Excel Functions

Get over 100 Excel Functions you should know in one handy PDF.