learn.howToCalculate
learn.whatIsHeading
Net Present Value (NPV) sums all future cash flows discounted to today's value minus the initial investment. Positive NPV means the investment creates more value than it costs.
الصيغة
NPV = Σ [Cₜ / (1+r)ᵗ] − C₀; If NPV > 0, project is value-accretive
- C₀
- Initial investment (outflow) (Currency)
- Cₜ
- Cash inflow in period t (Currency)
- r
- Discount rate (Annual percentage)
- t
- Time period (Years)
دليل خطوة بخطوة
- 1NPV = Σ Cₜ/(1+r)ᵗ − Initial investment
- 2r = required discount rate (cost of capital)
- 3NPV > 0: invest; NPV < 0: reject
- 4Higher discount rate → lower NPV
أمثلة محلولة
الإدخال
−$50k initial, $15k/yr for 5yr, 10% discount rate
النتيجة
NPV = +$6,862 → invest
أسئلة شائعة
How do I choose the discount rate?
Use your weighted average cost of capital (WACC) or hurdle rate. 10% for stocks, 5–8% for real estate, 3–5% for bonds. Higher rate = stricter NPV test.
What does negative NPV mean?
Project doesn't meet your return threshold. In theory, reject it. In practice: real-world factors (strategic, competitive, optionality) may justify it anyway.
Does NPV account for risk?
Partially, via discount rate. Higher risk = higher discount rate = lower NPV. But NPV doesn't handle big downside scenarios—use scenario analysis + NPV together.
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