{"id":29817,"date":"2024-07-28T18:21:00","date_gmt":"2024-07-28T23:21:00","guid":{"rendered":"https:\/\/breakingintowallstreet.com\/?post_type=biws_kb&#038;p=29817"},"modified":"2024-12-16T23:40:07","modified_gmt":"2024-12-17T04:40:07","slug":"net-present-value","status":"publish","type":"biws_kb","link":"https:\/\/breakingintowallstreet.com\/kb\/finance\/net-present-value\/","title":{"rendered":"Net Present Value (NPV): Definition and Example Calculations"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_81 counter-flat ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Net Present Value (NPV): Definition and Example Calculations<\/p>\n<span class=\"ez-toc-title-toggle\"><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/breakingintowallstreet.com\/kb\/finance\/net-present-value\/#Simple_Rules_for_the_Net_Present_Value\">Simple Rules for the Net Present Value<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/breakingintowallstreet.com\/kb\/finance\/net-present-value\/#How_to_Calculate_the_Net_Present_Value_in_Excel\">How to Calculate the Net Present Value in Excel<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/breakingintowallstreet.com\/kb\/finance\/net-present-value\/#How_to_Use_Net_Present_Value_in_Real_Life\">How to Use Net Present Value in Real Life<\/a><\/li><li class='ez-toc-page-1'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/breakingintowallstreet.com\/kb\/finance\/net-present-value\/#Other_Applications_of_Net_Present_Value_NPV\">Other Applications of Net Present Value (NPV)<\/a><\/li><\/ul><\/nav><\/div>\n\n<blockquote><p><strong>Net Present Value (NPV) Definition:<\/strong>\u00a0Net Present Value (NPV) equals the sum of an asset\u2019s discounted future cash flows minus the upfront cost or \u201casking price\u201d for this asset today; a positive NPV means that you can achieve more than your targeted returns by investing, while a negative NPV means the opposite.<\/p><\/blockquote>\n<p>To understand Net Present Value, you must first understand <a href=\"https:\/\/breakingintowallstreet.com\/kb\/finance\/present-value\/\" target=\"_blank\" rel=\"noopener\">Present Value<\/a>, or what an investment\u2019s future cash flows are worth TODAY based on the annualized rate of return you could potentially earn on other, similar investments (called the \u201cDiscount Rate\u201d).<\/p>\n<p>Net Present Value goes a step further and subtracts the investment&#8217;s upfront cost or \u201casking price\u201d to determine if its <strong>Present Value<\/strong> exceeds its <strong>current cost<\/strong>.<\/p>\n<p>If it does, it suggests that you should invest; if it does not, an investment may not achieve your desired goals.<\/p>\n<p>Net Present Value is critical because it helps investors determine if an investment is worthwhile by comparing the <em>actual<\/em> annualized return to the <em>targeted<\/em> annualized return (the <a href=\"https:\/\/breakingintowallstreet.com\/kb\/finance\/discount-rate\/\" target=\"_blank\" rel=\"noopener\">Discount Rate<\/a>).<\/p>\n<h3><strong>Files &amp; Resources:<\/strong><\/h3>\n<ul>\n<li><a href=\"https:\/\/youtube-breakingintowallstreet-com.s3.us-east-1.amazonaws.com\/Finance\/PV-NPV-IRR-WACC.xlsx\" target=\"_blank\" rel=\"noopener\">Simple Template for Net Present Value, IRR, and WACC (XL)<\/a><\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Simple_Rules_for_the_Net_Present_Value\"><\/span><strong>Simple Rules for the Net Present Value<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The NPV, PV, Discount Rate, and IRR are all linked by simple rules. We defined the NPV and PV above, but for the latter two:<\/p>\n<ul>\n<li><strong>Discount Rate:<\/strong> This represents your <em>targeted or expected<\/em> annualized return on investment. We normally use the <a href=\"https:\/\/mergersandinquisitions.com\/wacc-formula\/\" target=\"_blank\" rel=\"noopener\">Weighted Average Cost of Capital (WACC)<\/a> for this when valuing companies, but other methods are possible, such as the Cost of Equity.<\/li>\n<\/ul>\n<ul>\n<li><strong>Internal Rate of Return (IRR):<\/strong> This represents the <em>actual<\/em> annualized return you could earn from an investment based on your forecasts for it and the upfront cost or \u201casking price.\u201d<\/li>\n<\/ul>\n<p>Based on this, we can say:<\/p>\n<ul>\n<li><strong>NPV is Positive:<\/strong> This means the IRR exceeds the Discount Rate. In other words, the future cash flows of an investment are worth more to you today than its cost.<\/li>\n<li><strong>NPV is Zero:<\/strong> This means the IRR equals the Discount Rate, so the future cash flows are worth the same as its cost today.<\/li>\n<li><strong>NPV is Negative:<\/strong> This means the IRR is less than the Discount Rate, so the future cash flows are worth less to you today than the cost of the investment.<\/li>\n<\/ul>\n<p>Here are a few simple examples of these relationships in Excel, based on a simple example of buying an apartment for $200,000, earning $12,000 of income from it per year, and selling it again for $200,000 after 5 years.<\/p>\n<h3><strong>Positive NPV:<\/strong><\/h3>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29818 size-full\" title=\"Positive Net Present Value (NPV)\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181707\/01-Positive-NPV.jpg\" alt=\"Positive Net Present Value (NPV)\" width=\"1491\" height=\"714\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181707\/01-Positive-NPV.jpg 1491w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181707\/01-Positive-NPV-300x144.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181707\/01-Positive-NPV-1024x490.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181707\/01-Positive-NPV-768x368.jpg 768w\" sizes=\"(max-width: 1491px) 100vw, 1491px\" \/><\/p>\n<h3><strong>Negative NPV:<\/strong><\/h3>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29819 size-full\" title=\"Negative Net Present Value (NPV)\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181714\/02-Negative-NPV.jpg\" alt=\"Negative Net Present Value (NPV)\" width=\"1497\" height=\"711\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181714\/02-Negative-NPV.jpg 1497w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181714\/02-Negative-NPV-300x142.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181714\/02-Negative-NPV-1024x486.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181714\/02-Negative-NPV-768x365.jpg 768w\" sizes=\"(max-width: 1497px) 100vw, 1497px\" \/><\/p>\n<h3><strong>Zero NPV:<\/strong><\/h3>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29820 size-full\" title=\"Zero Net Present Value (NPV)\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181717\/03-Zero-NPV.jpg\" alt=\"Zero Net Present Value (NPV)\" width=\"1499\" height=\"710\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181717\/03-Zero-NPV.jpg 1499w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181717\/03-Zero-NPV-300x142.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181717\/03-Zero-NPV-1024x485.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181717\/03-Zero-NPV-768x364.jpg 768w\" sizes=\"(max-width: 1499px) 100vw, 1499px\" \/><\/p>\n<p><strong>Notice that all that changes in each example is the Discount Rate, or our <em>expectations<\/em> for the annualized returns.<\/strong><\/p>\n<p>Like dating, you can always get a positive result if you lower your expectations enough.<\/p>\n<p>Other ways to change the Net Present Value include modifying the upfront cost, the apartment\u2019s selling price, or the annual income earned by renting out this property.<\/p>\n<p>But, as with dating once again, these are the equivalent of \u201cdoing work on yourself\u201d to improve, so they all require more time and effort and may or may not be feasible.<\/p>\n<div class='code-block code-block-2' style='margin: 8px 0; clear: both;'>\n<div class=\"kb-adinsert-modal\">\n    <div class=\"kb-adinsert-top\">\n      <div class=\"media\">\n          <img decoding=\"async\" class=\"alignnone size-full wp-image-28448\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/04\/24164120\/adv-fm-tile.png\" alt=\"PowerPoint Pro\" width=\"128\" height=\"128\" \/>\n      <\/div>\n      <div class=\"content\">\n          <h3>Master Financial Modeling for Investment Banking With <strong>BIWS Core Financial Modeling<\/strong><\/h3>\n      <\/div>\n    <\/div>\n    \n    <div class=\"full_text\">\n    \t<ul>\n        \t<li>\n            \t<h4>Become a financial modeling pro<\/h4>\n              <p>158 videos, detailed written guides, Excel files, quizzes, and more<\/p>\n\t\t\t    <\/li>\n          <li>\n          \t<h4>Complete 10+ detailed global case studies<\/h4>\n            <p>These include both the theory and the practical applications<\/p>\n\t\t\t    <\/li>\n          <li>\n          \t<h4>Prepare for your internship or full-time job<\/h4>\n            <p>Gain the skills you need to \u201chit the ground running\u201d on Day 1\n\n<\/p>\n\t\t\t  <\/li>\n      <\/ul>\n        \n      <a class=\"cta-link orange-button-medium\" href=\"https:\/\/breakingintowallstreet.com\/core-financial-modeling\/\" target=\"_blank\">Full Details<\/a>\n      \n      <a class=\"cta-link orange-button-medium bg-blue\" href=\"https:\/\/biws-support.s3.us-east-1.amazonaws.com\/Course-Outlines\/Core-Financial-Modeling-Course-Outline.pdf\" target=\"_blank\" rel=\"noopener\">Short Outline<\/a>\n    <\/div>\n<\/div><\/div>\n\n<h2><span class=\"ez-toc-section\" id=\"How_to_Calculate_the_Net_Present_Value_in_Excel\"><\/span><strong>How to Calculate the Net Present Value in Excel<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Confusingly, the NPV function in Excel calculates <em>both<\/em> the Present Value (PV) and the Net Present Value (NPV) of an investment, depending on what you input into the function.<\/p>\n<ul>\n<li><strong>Present Value:<\/strong> If you want to calculate <em>just<\/em> the Present Value, input only the <em>positive future cash flows<\/em> from the investment and the Discount Rate and ignore the upfront cost. Here\u2019s an example:<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29821 size-full\" title=\"Present Value vs. Net Present Value (NPV)\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181822\/04-Present-Value-with-NPV.jpg\" alt=\"Present Value vs. Net Present Value (NPV)\" width=\"1498\" height=\"714\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181822\/04-Present-Value-with-NPV.jpg 1498w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181822\/04-Present-Value-with-NPV-300x143.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181822\/04-Present-Value-with-NPV-1024x488.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181822\/04-Present-Value-with-NPV-768x366.jpg 768w\" sizes=\"(max-width: 1498px) 100vw, 1498px\" \/><\/p>\n<ul>\n<li><strong>Net Present Value:<\/strong> If you want to factor in the upfront cost or asking price, change the formula so that it includes this negative number in the beginning:<\/li>\n<\/ul>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29822 size-full\" title=\"Net Present Value (NPV) with the NPV Function\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181850\/05-Net-Present-Value-with-NPV.jpg\" alt=\"Net Present Value (NPV) with the NPV Function\" width=\"1492\" height=\"707\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181850\/05-Net-Present-Value-with-NPV.jpg 1492w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181850\/05-Net-Present-Value-with-NPV-300x142.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181850\/05-Net-Present-Value-with-NPV-1024x485.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181850\/05-Net-Present-Value-with-NPV-768x364.jpg 768w\" sizes=\"(max-width: 1492px) 100vw, 1492px\" \/><\/p>\n<p>There is another option for calculating the Net Present Value as well: We could take the PV of the future cash flows and subtract the upfront cost, but the results will differ slightly because of how the NPV function works:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29823 size-full\" title=\"Manual Net Present Value (NPV) Calculation\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181919\/06-Manual-NPV.jpg\" alt=\"Manual Net Present Value (NPV) Calculation\" width=\"1496\" height=\"758\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181919\/06-Manual-NPV.jpg 1496w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181919\/06-Manual-NPV-300x152.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181919\/06-Manual-NPV-1024x519.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181919\/06-Manual-NPV-768x389.jpg 768w\" sizes=\"(max-width: 1496px) 100vw, 1496px\" \/><\/p>\n<p>In general, it\u2019s best to use Excel&#8217;s built-in NPV function to calculate the Net Present Value consistently.<\/p>\n<p>Also, it\u2019s essential if there are <em>multiple<\/em> upfront investments required to buy an asset or company, as in the example below:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29824 size-full\" title=\"Net Present Value (NPV) for Multiple Upfront Investments\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181948\/07-NPV-Multiple-Investments.jpg\" alt=\"Net Present Value (NPV) for Multiple Upfront Investments\" width=\"1659\" height=\"983\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181948\/07-NPV-Multiple-Investments.jpg 1659w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181948\/07-NPV-Multiple-Investments-300x178.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181948\/07-NPV-Multiple-Investments-1024x607.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181948\/07-NPV-Multiple-Investments-768x455.jpg 768w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28181948\/07-NPV-Multiple-Investments-1536x910.jpg 1536w\" sizes=\"(max-width: 1659px) 100vw, 1659px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"How_to_Use_Net_Present_Value_in_Real_Life\"><\/span><strong>How to Use Net Present Value in Real Life<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>To calculate the Net Present Value in real life, you need to estimate the <a href=\"https:\/\/breakingintowallstreet.com\/how-to-calculate-unlevered-free-cash-flow\/\" target=\"_blank\" rel=\"noopener\">future cash flows<\/a> of an investment, the\u00a0WACC (discount rate), and the cost of the initial investment.<\/p>\n<p>For real companies, you calculate the Discount Rate using the Weighted Average Cost of Capital (WACC) formula, which we describe in separate articles (<a href=\"https:\/\/breakingintowallstreet.com\/how-to-calculate-discount-rate\/\" target=\"_blank\" rel=\"noopener\">how to calculate the Discount Rate<\/a>\u00a0and the\u00a0<a href=\"https:\/\/mergersandinquisitions.com\/wacc-formula\/\" target=\"_blank\" rel=\"noopener\">WACC formula<\/a>).<\/p>\n<p>You can make an investment decision based on either the IRR and WACC or the NPV:<\/p>\n<ul>\n<li><strong>If IRR &gt; WACC, NPV is positive, so you invest.<\/strong><\/li>\n<li><strong>If IRR &lt; WACC, NPV is negative, so you do not invest.<\/strong><\/li>\n<\/ul>\n<p>In the following example, the Virgin Company is determining whether they should invest in Virgin Galactic (for trips to Jupiter) or Virgin Asia (for low-cost flights to Southeast Asia).<\/p>\n<p>Each subsidiary has its own Discount Rate because sending passengers to Jupiter is much riskier than operating low-cost flights to Southeast Asia.<\/p>\n<p>The Virgin Galactic plan has a higher IRR, but the upfront cost is also much higher, which means its <strong>Net Present Value<\/strong> is lower.<\/p>\n<p>Therefore, it makes more sense to launch Virgin Asia since it has a higher <strong>Net Present Value<\/strong> despite having a lower IRR:<\/p>\n<p><img decoding=\"async\" class=\"aligncenter wp-image-29825 size-full\" title=\"Net Present Value (NPV) by Business Segment\" src=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28182020\/08-NPV-by-Segment.jpg\" alt=\"Net Present Value (NPV) by Business Segment\" width=\"1456\" height=\"1274\" srcset=\"https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28182020\/08-NPV-by-Segment.jpg 1456w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28182020\/08-NPV-by-Segment-300x263.jpg 300w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28182020\/08-NPV-by-Segment-1024x896.jpg 1024w, https:\/\/biwsuploads-assest.s3.amazonaws.com\/biws\/wp-content\/uploads\/2024\/07\/28182020\/08-NPV-by-Segment-768x672.jpg 768w\" sizes=\"(max-width: 1456px) 100vw, 1456px\" \/><\/p>\n<h2><span class=\"ez-toc-section\" id=\"Other_Applications_of_Net_Present_Value_NPV\"><\/span><strong>Other Applications of Net Present Value (NPV)<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Net Present Value is widely used in analyses such as the <a href=\"https:\/\/mergersandinquisitions.com\/dcf-model\/\" target=\"_blank\" rel=\"noopener\">Discounted Cash Flow (DCF) model<\/a> to value companies and in planning and budgeting in roles such as <a href=\"https:\/\/mergersandinquisitions.com\/fpa-director\/\" target=\"_blank\" rel=\"noopener\">FP&amp;A at normal companies<\/a>.<\/p>\n<p>It\u2019s also common in <a href=\"https:\/\/mergersandinquisitions.com\/real-estate-private-equity\/\" target=\"_blank\" rel=\"noopener\">real estate investing<\/a>, <a href=\"https:\/\/mergersandinquisitions.com\/fixed-income-research\/\" target=\"_blank\" rel=\"noopener\">fixed income research<\/a>, <a href=\"https:\/\/mergersandinquisitions.com\/credit-analyst-career-path\/\" target=\"_blank\" rel=\"noopener\">credit analysis<\/a>, and even <a href=\"https:\/\/breakingintowallstreet.com\/kb\/venture-capital\/\" target=\"_blank\" rel=\"noopener\">venture capital and startup modeling<\/a> to determine a growth company&#8217;s potential value.<\/p>\n<p>It\u2019s not quite as common in <a href=\"https:\/\/breakingintowallstreet.com\/kb\/ma-and-merger-models\/merger-model-walkthrough\/\" target=\"_blank\" rel=\"noopener\">M&amp;A analysis and merger models<\/a> because they often focus on short-term <a href=\"https:\/\/breakingintowallstreet.com\/kb\/ma-and-merger-models\/eps-accretion-dilution\/\" target=\"_blank\" rel=\"noopener\">EPS accretion\/dilution<\/a>, but even there, it can come up in valuations.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Net Present Value (NPV) equals the sum of an asset\u2019s discounted future cash flows minus the upfront cost or \u201casking price\u201d for this asset today; a positive NPV means that you can achieve more than your targeted returns by investing, while a negative NPV means the opposite.<\/p>\n","protected":false},"featured_media":0,"template":"","class_list":["post-29817","biws_kb","type-biws_kb","status-publish","hentry","kb_category-finance"],"acf":[],"_links":{"self":[{"href":"https:\/\/breakingintowallstreet.com\/wp-json\/wp\/v2\/biws_kb\/29817","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/breakingintowallstreet.com\/wp-json\/wp\/v2\/biws_kb"}],"about":[{"href":"https:\/\/breakingintowallstreet.com\/wp-json\/wp\/v2\/types\/biws_kb"}],"wp:attachment":[{"href":"https:\/\/breakingintowallstreet.com\/wp-json\/wp\/v2\/media?parent=29817"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}