Capital Budgeting

Capital Budgeting Terms

NPV, IRR, MIRR, and payback period metrics used to evaluate long-term investment projects.

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Total terms 6
With calculator 6
Last updated Apr 2026
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Discounted Payback

The time to recover the initial investment using present-value-adjusted cash flows.

Capital Budgeting Calc

IRR

The discount rate at which a project's net present value equals zero.

Capital Budgeting Calc

MIRR

An improved version of IRR that uses separate rates for financing costs and reinvestment returns.

Capital Budgeting Calc

NPV

The sum of all discounted future cash flows from a project minus the initial investment.

Capital Budgeting Calc

Payback Period

The time it takes for a project to recover its initial investment from undiscounted cash flows.

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Profitability Index

The ratio of the present value of future cash inflows to the initial investment cost.