MIRR Calculator

Modified Internal Rate of Return (MIRR)

Modified internal rate of return (MIRR) is a similar technique to IRR. Unlike IRR, it is easier to calculate, finds only one value, and resolve some problems with the IRR. It's an alternative measure to evaluate an investment. This free online tools helps to calculate MIRR and supports batch data load.

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Example 1  |  Example 2  |  Example 3
Batch data entry (enter or paste your data in below box)
Year Cash-In ($) Cash-Out/
Investment ($, minus)
Net Cash Flow ($)
{{$index + 1}}

MIRR result

Modified internal rate of return (MIRR) is

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Using the modified internal rate of reutrn (MIRR) calculator

  • Internal Rate of Return (IRR) - IRR is the rate that makes NPV equal to zero in an investment.
  • Initial Investment - Initial investment on the first year.
  • Finance rate - The interest rate you pay on the money used in the cash flows.
  • Reinvestment rate - The interest rate you receive on the cash flows as you reinvest them.
  • Cash-In - Annual cash in-flows.
  • Cash-Out - Annual cash out-flows.
  • Net Cash Flow - Cash-in minus cash-out.

What is MIRR (modified internal rate of return)

MIRR is the modification of IRR, and try to resolve some problems with the IRR. MIRR assumes that reinvest rate may be different with your financing rate, so reflects cost and profitability of a project more accurately.

How to calculate MIRR?

MIRR is calculated with the fomula:
modified internal rate of return (MIRR) calculation formula