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📈 MIRR Calculator – Modified Internal Rate of Return

Calculate the Modified Internal Rate of Return (MIRR) for a project or investment with an initial cost and future cash inflows.

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What is MIRR?

Modified Internal Rate of Return (MIRR) improves on the traditional IRR by assuming positive cash flows are reinvested at a realistic reinvestment rate, and negative cash flows are financed at the company’s actual finance rate, avoiding some of IRR’s unrealistic assumptions.

The formula

MIRR = (FV of Positive Cash Flows / PV of Negative Cash Flows)1/n − 1, where n is the number of periods. This calculator compounds all positive cash flows forward to the final year at the reinvestment rate, and discounts all negative cash flows (including the initial investment) back to today at the finance rate.

This calculator is for general capital-budgeting education.

Last reviewed August 2026
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