CAGR calculator
The one yearly rate that takes a figure from where it started to where it ended.
Fill it from a company
Illustrative inputs
The figure at the start: revenue, earnings, cash flow. Above zero.
The same line, in the same units, at the end of the period.
Gaps between the two figures: six annual reports span five years.
CAGR
14.87%
100.00% in total over 5 years.
Show the working
| Step | Value |
|---|---|
| End over start | 2.00 |
| Total change | 100.00% |
| That multiple to the power 1 / years | 1.15 |
| Compound annual growth rate | 14.87% |
| Step | Value |
|---|---|
| Start | 100 |
| Year 1 | 114.87 |
| Year 2 | 131.95 |
| Year 3 | 151.57 |
| Year 4 | 174.11 |
| Year 5 | 200 |
Illustrative inputs
Where the figure stands now. A negative start is allowed here.
A rate you assume, not one anybody measured. Negative for a decline.
How long the rate is held.
Future value
201.14
100 times 2.01. What your rate implies, not a forecast.
Show the working
| Step | Value |
|---|---|
| (1 + rate) to the power of the years | 2.01 |
| Year 1 | 115 |
| Year 2 | 132.25 |
| Year 3 | 152.09 |
| Year 4 | 174.9 |
| Year 5 | 201.14 |
| Total change | 101.14% |
| Future value | 201.14 |
Illustrative inputs
Commas or spaces. Six values cover five years. Anything unreadable is left out, never read as zero.
CAGR without the largest year
3.26%
14.87% with it. 4 of 5 years grew more slowly than that.
Show the working
| Year | From | To | Change |
|---|---|---|---|
| Year 1 | 100 | 104 | 4.00% |
| Year 2 | 104 | 108 | 3.85% |
| Year 3 | 108 | 190 | 75.93% |
| Year 4 | 190 | 195 | 2.63% |
| Year 5 | 195 | 200 | 2.56% |
| Step | Value |
|---|---|
| CAGR from the two ends | 14.87% |
| Years measured | 5 |
| Years below that rate | 4 |
| Largest single year | Year 3, 75.93% |
| CAGR without the largest year | 3.26% |
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How it works
CAGR = (end / start) ^ (1 / years) - 1
- Years counts the gaps, not the figures: six annual reports span five years.
- Future value runs it forwards: start x (1 + rate) ^ years.
- Year by year takes out the single largest year and recomputes the rate on the rest.
Reading the result
The ink line is the path the rate draws, compounding evenly. In Year by year the dashed line is that path, the ink line is what happened, and the thick step is the largest year.
On the illustrative series, 14.87% a year falls to 3.26% without its largest year: 4 of 5 years never reached the headline rate.
Questions
How do I count the years?
Count the gaps between the two figures, not the figures. From the 2019 annual report to the 2024 one is five years. Counting the reports instead understates the rate.
Can CAGR start from zero or a negative value?
No. A compound rate out of zero or a negative base has no meaning, so the calculator prints n/a rather than a number that only looks like a rate.
How is CAGR different from average annual growth?
An average of the yearly changes ignores compounding and comes out higher whenever the years differ. CAGR is the one rate that compounds from the first value to the last.
Does CAGR show how steady the growth was?
No. It uses only the first and last values, so a steady path and one exceptional year give the same rate. Year by year shows how much one year contributed.
What this leaves out
- Inflation is not removed: a nominal rate includes whatever prices did.
- The rate cannot tell organic growth from acquisitions or new shares.
- A past rate says nothing about the next year.
Next step
Write a condition on a figure, name a company, and every filed year it was false is printed with the year beside it. No account.
The arithmetic runs in your browser, so the numbers you type never leave it. A ticker in the address is read on this site to look the company up, and goes nowhere else. Disclaimer.