XIRR Calculator
Calculate the annualized IRR for cash flows occurring at irregular dates.
Enter amounts and days from start to find the exact XIRR rate.
XIRR — Extended Internal Rate of Return
XIRR is the annualized internal rate of return for a series of cash flows that do not occur at regular intervals. It is the Excel XIRR function brought to the web.
When to use XIRR vs IRR:
| Scenario | Use |
|---|---|
| Annual or monthly payments on a fixed schedule | Standard IRR |
| Investments made on irregular dates | XIRR |
| Real estate transactions, project disbursements, startup investments | XIRR |
How XIRR works:
XIRR finds the rate r that makes the net present value (NPV) of all cash flows equal to zero:
Σᵢ Cᵢ / (1 + r)^(tᵢ) = 0
Where:
- Cᵢ = cash flow at time i (negative = outflow, positive = inflow)
- tᵢ = time in years since the first cash flow = daysᵢ / 365
- r = annual discount rate (what we solve for)
Cash flow sign convention:
The initial investment must be entered as a negative number. Returns and proceeds are entered as positive numbers.
Example: invest $10,000 today → enter −10000 on day 0 Receive $3,000 after 180 days → enter 3000 on day 180
Using this calculator:
Enter up to 6 cash flow amounts (comma-separated) and the corresponding number of days from the start date (also comma-separated). The first amount should typically be negative (the initial outflow).
XIRR as a benchmark:
Compare XIRR to your cost of capital or hurdle rate. If XIRR > hurdle rate, the investment creates value. If XIRR < hurdle rate, the investment destroys value.
A positive XIRR does not guarantee a good investment — it depends on the risk taken to achieve it.