Investment Return Calculator
Calculate realized ROI, CAGR, total gain or loss, gain multiple, and average annual gain for an investment.
Last reviewed: June 2026What this investment return calculator measures
This calculator measures realized investment performance. Enter the initial investment, final value, holding period, and any dividends or distributions received. The page returns total ROI, annualized return, total gain or loss, gain multiple, and average annual dollar gain.
This is not a projection calculator. It does not ask for an expected annual return because it is designed to analyze what already happened, or to compare two scenarios where you already know the starting value, ending value, and income received. If you want to model future growth from an expected rate and ongoing contributions, use the compound interest calculator instead.
Formula used on this page
Total gain or loss equals final value plus dividends minus initial investment. ROI equals that total gain or loss divided by the initial investment, then converted to a percentage. Gain multiple equals final value plus dividends divided by initial investment.
Annualized return uses the compound annual growth rate formula: CAGR = ((final value + dividends) / initial investment)^(1 / years) - 1. CAGR is useful because it converts a multi-year result into a comparable annual rate. Average annual gain is different: it divides the dollar gain by the number of years, so it does not account for compounding.
Worked default example
With the default inputs, a $10,000 investment that ends at $15,000 after 5 years has a $5,000 gain. The ROI is 50.00%, the CAGR is about 8.45%, the gain multiple is 1.50x, and the average annual gain is $1,000.00 per year. If you add $500 of dividends to the same example, ROI rises to 55.00% and CAGR rises to about 9.16%.
The CAGR is lower than simply dividing 50% by five years because compounding is part of the annualized-return calculation. A simple average can overstate the comparable annual rate, especially when returns are measured across several years.
What to include in the inputs
- Initial investment: Use the amount actually invested, including purchase fees if you want fee-inclusive performance.
- Final value: Use the market value or sale proceeds at the end of the holding period.
- Dividends received: Include cash dividends, interest, or distributions that were not already reflected in final value.
- Holding period: Enter the time the money was invested, not just the calendar gap between statements.
Limits and comparison notes
The calculator does not know whether dividends were reinvested, whether new contributions were added, whether withdrawals occurred, or whether taxes were due. If there were multiple cash flows during the holding period, a money-weighted return or time-weighted return may be more appropriate than this simple ROI/CAGR model.
Sources and further reading
FINRA explains that total investment return generally includes the change in value plus income such as dividends, and that annualized return is useful when comparing investments held for different lengths of time. See FINRA's guide to calculating investment returns and FINRA's performance evaluation overview. Investor.gov also summarizes annual return and the relationship between risk and return.