Calculate a Running Maximum (High-Water Mark)

Excel Formulas › Statistics

All versions

A running maximum shows the best value reached up to each row — handy for record highs, peak demand, or high-water marks. The trick is an expanding range that grows as you fill down.


Quick formula: Anchor the top of the range and let the bottom grow:
=MAX($B$2:B2)

The locked start ($B$2) and relative end (B2) make the window expand one row at a time.

Functions used (tap for the full reference guide):

The example

Daily sales, with a column showing the highest day reached so far.

ABC
1DaySalesRunning max
2Mon1212
3Tue912
4Wed1515
5Thu1115
6Fri2020

The formula

An expanding MAX from the first data row to the current row:

=MAX($B$5:B5) // highest value from the top down to here

How it works

How the expanding range works:

  1. $B$5 is locked with dollar signs, so it always points to the first value.
  2. B5 is relative, so it moves down as you copy the formula.
  3. Row by row the window grows ($B$5:B5, $B$5:B6, …), and MAX reports the best value in it.
  4. The result never decreases — it only steps up when a new high appears.

In Excel 365 you can do the whole column at once with =SCAN(0,B5:B9,LAMBDA(a,b,MAX(a,b))).

Try it: interactive demo

Interactive

Enter today's value and the previous high — the high-water mark updates.

Variations

Running minimum

Swap MAX for MIN to track the lowest value so far.

=MIN($B$5:B5)

Whole column with SCAN

One dynamic-array formula builds the entire running-max column.

=SCAN(0,B5:B9,LAMBDA(a,b,MAX(a,b)))

Pitfalls & errors

Forgetting the dollar signs on the start cell breaks the expanding range — both ends would move and you'd only ever see one cell.

Blank cells in the range are ignored by MAX, so gaps don't throw off the running peak.

Practice workbook

📊
Download the free Calculate a Running Maximum (High-Water Mark) practice workbook
Edit the yellow Sales values; the Running max column and overall peak recalculate.

Frequently asked questions

Why does my running max reset?
Almost always a missing dollar sign on the start cell. The first reference must be absolute ($B$5) and the second relative (B5).
Can I do this without filling down?
Yes, in Excel 365 use SCAN with a MAX lambda to produce the whole column from one formula.
Does it ignore text or blanks?
Yes — MAX skips text and empty cells, so only the numbers affect the running peak.

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Related formulas: Running total of a column · Nth largest value

Function references: MAXSCANIF