## Excel GROWTH Function

The **GROWTH** function returns the predicted exponential GROWTH based on a given set of data. By using the existing x-values and y-values, the GROWTH function calculates the predicted y-values for a series of new x-values. In financial terms, companies can use the GROWTH function to predict the revenues of the coming years.

#### Syntax

**=GROWTH(known_y’s,[known_x’s],[new_x’s],[const])**

#### Arguments

**Known_y’s**(required): A set of known y-values used to predict the exponential GROWTH.**Known_x’s**(optional): A set of known x-values. If provided, the data range of known_x’s should have the same length as the data range of known_y’s. If omitted, it uses{1,2,3,...} as the known_y’s parameter.**New_x’s**(optional): A set of new x-values, for which you want to get corresponding new y-values. If omitted, new_x’s is assumed to be the same as known_x’s.**Const**(optional): A logical value specifying whether the constant 'b', in the equation y = b * m^x, should be forced to be equal to the value 1. It is either a TRUE or FALSE value.

If const is TRUE or omitted, the constant b is calculated normally.

If const is FALSE, the constant b is set to 1 and the equation becomes y = m^x.

#### Return Value

The **GROWTH ** function returns a **numeric value**.

#### Function notes

- We can use the GROWTH function as an
**array formula**by pressing the**Ctrl + Shift+ Enter**keys. But in Excel for Microsoft 365, new dynamic array functions are introduced, meaning no need to use Ctrl + Shift+ Enter to enter the GROWTH formula as an array formula. - The
**#REF!**error value occurs if the array of known_x’s has a different length from the known_y’s array. - The
**#NUM!**error value occurs if any value in the array of known_y’s is less than or equal to zero. - The
**#VALUE!**error value occurs if any of the values in the supplied known_y’s, known_x’s, or new_x’s arrays are non-numeric. - While using the GROWTH function in graphs, we can create a scatter chart of the data without displaying a line and use the exponential option from the graph trendline option.

#### Example

##### Example One: Basic Usage

As the below screenshot shows, there are the report data of annual revenues between year **2015 to 2021**. To predict the revenues of year from **2022 to 2024**, please do as follows:

1. Please copy the formula below into cell F5, then press the** Enter** key to get the result.

**=GROWTH(C5:C11,B5:B11,E5)**

2. To get the rest of the results, we need to convert known_y’s and known_x’s arguments to a**bsolute references** in the formula.

In the above formula, you need to convert the cell references **C5:C11** and **B5:B11** to absolute references. Please select the data range of known_y’s C5:C11, then press the F4 key to convert it to an absolute reference. Repeat the same step to convert the data range of known_x’s B5:B11 to an absolute reference. Then you can see the formula displayed as follows:

**=GROWTH($C$5:$C$11,$B$5:$B$11,E5)**

3. Select this result cell and drag its autofill handle down to get the rest of the results.

##### Example Two: Use as an Array Formula

The GROWTH function can be entered as an **array formula**. To predict the revenues of year from 2022 to 2024 based on the data in the example one, please do as follows:

1. Select the range where we want the estimated revenues to be returned.

2. Please copy the formula below into the **Formula Bar** , then press **CTRL+SHIFT+ENTER** to get the results.

**=GROWTH(C5:C11,B5:B11,E5:E7)**

**Notes:**

- You can see the formula above is encased in
**curly braces { }**, meaning that it was entered as an array formula. **Dynamic array formulas**are available in**Excel 365, Excel 2021, and Excel for the web**, meaning no need to press CTRL+SHIFT+ENTER to make the formula dynamic. For users of**Excel 2019 and earlier**, remember to enter the formula via**CTRL+SHIFT+ENTER**so the multiple results can be returned in an array.

#### Relative Functions:

Excel EVEN Function

The EVEN function rounds numbers away from zero to the nearest even integer.

Excel EXP Function

The EXP function returns the result of the constant e raised to the nth power.