CAGR Calculator
Calculate compound annual growth rate over a period
CAGR Calculator — what it does
CAGR expresses growth as the single annual rate that would have taken a starting value to an ending value over a given number of years. Enter the initial value, the final value and the period, and the calculator returns that smoothed rate — the standard way investors and analysts compare performance across assets of different sizes and time frames.
When this tool helps
- Comparing an investment, a business unit or a product line against a benchmark on equal terms.
- Turning a multi-year revenue jump into a headline growth rate for a board deck or an investor update.
- Sanity-checking a forecast: a plan implying 60 percent CAGR for a decade rarely survives contact with reality.
How to use it
- Enter the value at the start of the period.
- Enter the value at the end of the period.
- Enter the number of years the period covers.
- Calculate to see the annual growth rate.
Accuracy, limits, and good practice
- CAGR hides volatility completely. Two assets with the same CAGR can have wildly different year-to-year paths and risk profiles.
- It assumes no money was added or withdrawn along the way. For a portfolio with contributions, money-weighted return is the honest measure.
- Periods shorter than a year can be entered as decimals, but very short periods annualise into misleadingly dramatic rates.
Frequently asked questions
What does the result mean in plain terms?
The constant yearly rate that turns your starting value into the ending value. A 12 percent CAGR means it grew as if by 12 percent every single year.
Can CAGR be negative?
Yes. If the final value is lower than the initial value, the rate is negative and describes an average annual decline.
Why is CAGR different from average annual return?
A simple average of yearly percentages ignores compounding and overstates results. CAGR is a geometric mean and reflects actual compounded growth.
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Everything above runs inside this page. CAGR Calculator needs no account, no upload, and no server round trip — close the tab and nothing is left behind.
CAGR 年複合成長率能做什麼
CAGR 是把一段期間的成長，換算成「每年固定成長多少」的單一年化率。輸入期初值、期末值與年數，計算器會給出這個平滑後的成長率——這也是投資人與分析師用來比較不同規模、不同期間標的的標準方法。
什麼時候用得上
- 在相同基準下比較投資標的、事業單位或產品線與大盤的表現。
- 把跨年度的營收成長換算成董事會簡報或投資人更新中的一個成長率數字。
- 檢驗預測是否合理：連續十年 60% CAGR 的計畫，通常經不起現實考驗。
使用步驟
- 輸入期初數值。
- 輸入期末數值。
- 輸入期間涵蓋的年數。
- 計算後即可看到年複合成長率。
精確度、限制與實務建議
- CAGR 完全掩蓋波動。兩個 CAGR 相同的標的，逐年走勢與風險可能天差地遠。
- 它假設期間內沒有再投入或提領資金；若投組有持續扣款，資金加權報酬率才是誠實的指標。
- 不足一年可用小數表示，但期間過短時年化出來的數字會誇張到失去參考價值。
常見問題
這個結果白話怎麼解讀？
就是能把期初值變成期末值的固定年成長率。12% 的 CAGR 代表它就像每一年都成長 12%。
CAGR 會是負的嗎？
會。期末值低於期初值時，結果為負值，代表平均每年的衰退幅度。
CAGR 和平均年報酬率差在哪？
把各年百分比直接平均會忽略複利並高估結果；CAGR 是幾何平均，反映真正的複合成長。
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