CAGR Calculator

O que é CAGR?

CAGR (Compound Annual Growth Rate, ou Taxa de Crescimento Anual Composta) responde a uma pergunta direta: a que taxa constante, ano após ano, o valor inicial teria de crescer para chegar ao valor final dentro do período informado?

Fórmula: CAGR = ((Final / Inicial)^(1/anos) - 1) × 100. O que a torna mais útil que o crescimento total é que ela coloca investimentos de prazos diferentes na mesma régua, a taxa anual, e aí dá para comparar.

O cálculo roda inteiro no seu navegador.

CAGR: Compound Annual Growth Rate

CAGR (Compound Annual Growth Rate) is the constant yearly rate that would carry an initial value to a final value over n years: CAGR = (V_final / V_initial)^(1/n) − 1. Think of it as smoothing the returns as if growth had been steady the whole way. Example: R$ 10,000 growing to R$ 16,105 over 5 years gives CAGR = (1.6105)^(1/5) − 1 = 10%. Where it beats a plain arithmetic average is in handling compounding. Take a portfolio that does +50% then −50%: the arithmetic mean reads 0%, but the CAGR comes out around −13.4%, because you really did lose money. What it won't tell you is anything about volatility, since it assumes smooth growth. For bumpy investments, pair it with standard deviation or the Sharpe Ratio.

Applications and context

You'll see CAGR everywhere people compare investment funds across different horizons, project company revenue, build a valuation (the Gordon growth model, P = D / (r − g), is one example), or size a market with a TAM CAGR. And when you need to annualize a multi-year ROI so durations line up, this is the number to use.

FAQ

CAGR vs arithmetic average, which is right? For compounded returns, the geometric mean (CAGR) is the honest figure. The arithmetic average inflates the real return whenever there's any volatility in play.

Does CAGR include dividends? Only when you compute it on total return, meaning price plus reinvested dividends. Run it on price alone and you'll undercount the true return of any dividend-paying asset.

Can CAGR be negative? It can. Whenever the final value ends up below the initial one, CAGR turns negative and shows an annualized loss.