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Modified Internal Rate of Return (MIRR) Calculator

MIRR = (FV_pos / |PV_neg|)^(1/n) − 1.

Compute the modified internal rate of return given the future value of all positive cash-flows compounded forward at the reinvestment rate, the present value of all negative cash-flows discounted back at the financing rate, and the number of compounding periods: MIRR = (FV_pos / |PV_neg|)^(1/n) − 1. Use this when IRR's reinvestment-at-IRR assumption is unrealistic.

Nadia Almasri By Nadia Almasri
Published Last reviewed 1 min read

Inputs

$
$
yr

Results

Enter values and click Calculate to see results.
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How to use this calculator

  1. Fill in the inputs above using the units you already have.
  2. Values update automatically as you type — no submit button needed.
  3. Hover any result row for the underlying formula and intermediate values.

Formula

MIRR = (FV_pos / |PV_neg|)^(1/n) − 1.

In depth

Compute the modified internal rate of return given the future value of all positive cash-flows compounded forward at the reinvestment rate, the present value of all negative cash-flows discounted back at the financing rate, and the number of compounding periods: MIRR = (FV_pos / |PV_neg|)^(1/n) − 1. Use this when IRR's reinvestment-at-IRR assumption is unrealistic.