PRODUCT multiplies every number in a range together — the way SUM adds them. It’s the tool for compound growth factors, combined probabilities, and any “multiply these all together” calculation.
B2*B3*B4*… chain to type or maintain.
The example
Yearly growth factors multiplied into a total factor.
| A | B | |
|---|---|---|
| 1 | Year | Growth factor |
| 2 | 1 | 1.10 |
| 3 | 2 | 1.05 |
| 4 | 3 | 1.20 |
| 5 | Combined: | 1.386 |
The formula
All factors multiplied (1.10 × 1.05 × 1.20):
How it works
PRODUCT is the multiplicative SUM:
PRODUCT(range)multiplies every numeric cell in the range together.- Three growth factors of +10%, +5%, +20% combine to
1.386— a 38.6% total gain, which is not the same as adding the percentages. - Like SUM, it ignores text and blank cells, and you can pass several ranges or numbers.
- For a conditional product, SUMPRODUCT or a PRODUCT(IF()) array can multiply only matching rows.
Why not add the percentages? +10% then +5% isn’t +15% — it’s 1.10 × 1.05 = 1.155 (+15.5%). PRODUCT of growth factors gets compounding right where addition silently doesn’t.
Try it: interactive demo
Type factors (commas); see their product.
Variations
Total return from factors
Subtract 1 for the percentage gain:
Conditional product
Multiply only flagged rows (array):
Combined probability
Independent events all occurring:
Pitfalls & errors
A blank isn’t a 1. PRODUCT ignores blanks (good), but a stray 0 makes the whole product 0. Check for zeros if the result collapses.
Don’t add what should multiply. Growth/discount factors compound — multiply them. Adding percentages understates or overstates the combined effect.
Conditional product needs an array. PRODUCT(IF()) may need Ctrl+Shift+Enter in older Excel; the IF replaces non-matches with 1 so they don’t change the product.
Practice workbook
Frequently asked questions
How do I multiply a range of numbers in Excel?
How do I combine yearly growth rates?
How do I multiply only certain rows?
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