{"id":31240,"date":"2026-11-07T19:57:17","date_gmt":"2026-11-07T19:57:17","guid":{"rendered":"https:\/\/beneggiassociati.com\/?page_id=31240"},"modified":"2026-11-07T19:57:24","modified_gmt":"2026-11-07T19:57:24","slug":"investment-appraisal-calculator","status":"publish","type":"page","link":"https:\/\/beneggiassociati.com\/en\/investment-appraisal-calculator\/","title":{"rendered":"Investment appraisal, NPV, IRR and payback"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"31240\" class=\"elementor elementor-31240 elementor-31238\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7c3c695 e-flex e-con-boxed e-con e-parent\" data-id=\"7c3c695\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;gradient&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-7f456c0 animated-fast e-flex e-con-boxed elementor-invisible e-con e-child\" data-id=\"7f456c0\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeIn&quot;,&quot;animation_delay&quot;:500}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0c1b821 elementor-widget__width-initial elementor-widget-divider--view-line elementor-widget elementor-widget-divider\" data-id=\"0c1b821\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"divider.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-divider\">\n\t\t\t<span class=\"elementor-divider-separator\">\n\t\t\t\t\t\t<\/span>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-2bbaf4b e-con-full e-flex e-con e-child\" data-id=\"2bbaf4b\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8fb5435 elementor-widget elementor-widget-heading\" data-id=\"8fb5435\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Investment appraisal, NPV, IRR and payback<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-e94983d e-flex e-con-boxed e-con e-parent\" data-id=\"e94983d\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-536bd65 elementor-widget elementor-widget-text-editor\" data-id=\"536bd65\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p><strong>Investment appraisal simulation<\/strong><\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-387f5c2 elementor-widget elementor-widget-heading\" data-id=\"387f5c2\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Is it worth investing? Net present value, return and payback<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-37b9ca0 elementor-widget elementor-widget-text-editor\" data-id=\"37b9ca0\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The tool appraises a business investment starting from the amount, the duration (1 to 20 years) and first-year revenue, with optional costs. It calculates net present value (NPV), internal rate of return (IRR), modified IRR, payback, including discounted payback, and the profitability index, and compares them across three scenarios. The calculation runs in your browser and the result is always visible. The data you enter are neither sent nor stored unless you request the report, in which case they are kept for 12 months. The report is sent to the address you provide. Subscribing to the newsletter is optional.<\/p><p>The online calculation is an estimate. The optional PDF report adds the comparison of the scenarios, the year-by-year cash flows, the disposal at the end of the period, the assumptions, the warnings and the legal references.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0a43617 e-flex e-con-boxed e-con e-parent\" data-id=\"0a43617\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c6793c9 elementor-widget elementor-widget-heading\" data-id=\"c6793c9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">The calculator<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-24949b3 elementor-widget elementor-widget-html\" data-id=\"24949b3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div id=\"bng-investimento\" class=\"bng-investimento\"><noscript><p>The calculator requires JavaScript to be enabled in the browser.<\/p><\/noscript><\/div>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-a9d9665 elementor-widget elementor-widget-html\" data-id=\"a9d9665\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<div id=\"bng-investimento-gf\" hidden><script>\nvar gform;gform||(document.addEventListener(\"gform_main_scripts_loaded\",function(){gform.scriptsLoaded=!0}),document.addEventListener(\"gform\/theme\/scripts_loaded\",function(){gform.themeScriptsLoaded=!0}),window.addEventListener(\"DOMContentLoaded\",function(){gform.domLoaded=!0}),gform={domLoaded:!1,scriptsLoaded:!1,themeScriptsLoaded:!1,isFormEditor:()=>\"function\"==typeof InitializeEditor,callIfLoaded:function(o){return!(!gform.domLoaded||!gform.scriptsLoaded||!gform.themeScriptsLoaded&&!gform.isFormEditor()||(gform.isFormEditor()&&console.warn(\"The use of gform.initializeOnLoaded() is deprecated in the form editor context and will be removed in Gravity Forms 3.1.\"),o(),0))},initializeOnLoaded:function(o){gform.callIfLoaded(o)||(document.addEventListener(\"gform_main_scripts_loaded\",()=>{gform.scriptsLoaded=!0,gform.callIfLoaded(o)}),document.addEventListener(\"gform\/theme\/scripts_loaded\",()=>{gform.themeScriptsLoaded=!0,gform.callIfLoaded(o)}),window.addEventListener(\"DOMContentLoaded\",()=>{gform.domLoaded=!0,gform.callIfLoaded(o)}))},hooks:{action:{},filter:{}},addAction:function(o,r,e,t){gform.addHook(\"action\",o,r,e,t)},addFilter:function(o,r,e,t){gform.addHook(\"filter\",o,r,e,t)},doAction:function(o){gform.doHook(\"action\",o,arguments)},applyFilters:function(o){return gform.doHook(\"filter\",o,arguments)},removeAction:function(o,r){gform.removeHook(\"action\",o,r)},removeFilter:function(o,r,e){gform.removeHook(\"filter\",o,r,e)},addHook:function(o,r,e,t,n){null==gform.hooks[o][r]&&(gform.hooks[o][r]=[]);var d=gform.hooks[o][r];null==n&&(n=r+\"_\"+d.length),gform.hooks[o][r].push({tag:n,callable:e,priority:t=null==t?10:t})},doHook:function(r,o,e){var t;if(e=Array.prototype.slice.call(e,1),null!=gform.hooks[r][o]&&((o=gform.hooks[r][o]).sort(function(o,r){return o.priority-r.priority}),o.forEach(function(o){\"function\"!=typeof(t=o.callable)&&(t=window[t]),\"action\"==r?t.apply(null,e):e[0]=t.apply(null,e)})),\"filter\"==r)return e[0]},removeHook:function(o,r,t,n){var e;null!=gform.hooks[o][r]&&(e=(e=gform.hooks[o][r]).filter(function(o,r,e){return!!(null!=n&&n!=o.tag||null!=t&&t!=o.priority)}),gform.hooks[o][r]=e)}});\n<\/script>\n\n                <div class='gf_browser_gecko gform_wrapper gravity-theme gform-theme--no-framework' data-form-theme='gravity-theme' data-form-index='0' id='gform_wrapper_37' ><div id='gf_37' class='gform_anchor' tabindex='-1'><\/div><form method='post' enctype='multipart\/form-data' target='gform_ajax_frame_37' id='gform_37'  action='\/en\/wp-json\/wp\/v2\/pages\/31240#gf_37' data-formid='37' novalidate>\n                        <div class='gform-body gform_body'><div id='gform_fields_37' class='gform_fields top_label form_sublabel_above description_above validation_above' data-column-layout='fixed'><div id=\"field_37_34\" class=\"gfield gfield--type-honeypot gform_validation_container field_sublabel_above gfield--has-description field_description_above field_validation_above gfield_visibility_visible\"><label id='gfield_label_37_34' class='gfield_label gform-field-label' for='input_37_34'><span class='gform-field-label__text'>Comments<\/span><\/label><div class='gfield_description' id='gfield_description_37_34'>This field is for validation purposes and should be left unchanged.<\/div><div class='ginput_container'><input name='input_34' id='input_37_34' type='text' value='' autocomplete='new-password'\/><\/div><\/div><div id=\"field_37_23\" class=\"gfield gfield--type-text gfield--width-full exclude gfield_contains_required field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"51878dbc\" data-field-span=\"12\"><label id='gfield_label_37_23' class='gfield_label gform-field-label' for='input_37_23'><span class='gform-field-label__text'>Name<\/span><span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='ginput_container ginput_container_text'><input name='input_23' id='input_37_23' type='text' value='' class='large'     aria-required=\"true\" aria-invalid=\"false\"  autocomplete=\"given-name\" \/><\/div><\/div><div id=\"field_37_25\" class=\"gfield gfield--type-text gfield--width-full exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b823d482\" data-field-span=\"12\"><label id='gfield_label_37_25' class='gfield_label gform-field-label' for='input_37_25'><span class='gform-field-label__text'>Company (optional)<\/span><\/label><div class='ginput_container ginput_container_text'><input name='input_25' id='input_37_25' type='text' value='' class='large'      aria-invalid=\"false\"  autocomplete=\"organization\" \/><\/div><\/div><div id=\"field_37_26\" class=\"gfield gfield--type-phone gfield--phone-format-international gfield--width-full exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"3e3350ab\" data-field-span=\"12\"><label id='gfield_label_37_26' class='gfield_label gform-field-label' for='input_37_26'><span class='gform-field-label__text'>Phone (optional)<\/span><\/label><div class='ginput_container ginput_container_phone'><input name='input_26' id='input_37_26' type='tel' value='' class='large'    aria-invalid=\"false\"  autocomplete=\"tel\"  \/><\/div><\/div><div id=\"field_37_1\" class=\"gfield gfield--type-email gfield--width-full exclude gfield_contains_required field_sublabel_above gfield--has-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"52634072\" data-field-span=\"12\"><label id='gfield_label_37_1' class='gfield_label gform-field-label' for='input_37_1'><span class='gform-field-label__text'>Email<\/span><span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/label><div class='gfield_description' id='gfield_description_37_1'>Controller: Beneggi Societ\u00e0 tra Professionisti S.r.l., Via Gonzaga 7, 20123 Milan, info@beneggiassociati.com. We use your name and email, and your company and phone if you give them, to prepare and send you the report you asked for. The figures you enter appear in the report and are kept with your request for 12 months, then deleted. We do not send you promotional messages without your separate consent. Data may be processed by the providers that run the website and email delivery, under the safeguards required by law. You may ask for access, rectification, erasure, restriction and objection, and lodge a complaint with the Italian Data Protection Authority. Full notice: <a href=\"https:\/\/www.iubenda.com\/privacy-policy\/26599214\" target=\"_blank\" rel=\"noopener\">privacy notice<\/a>.<\/div><div class='ginput_container ginput_container_email'>\n                            <input name='input_1' id='input_37_1' type='email' value='' class='large'    aria-required=\"true\" aria-invalid=\"false\" aria-describedby=\"gfield_description_37_1\" \/>\n                        <\/div><\/div><fieldset id=\"field_37_3\" class=\"gfield gfield--type-consent gfield--type-choice gfield--input-type-consent gfield--width-full exclude gfield_contains_required field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible gfield--choice-align-vertical\" data-group-id=\"73cde11a\" data-field-span=\"12\"><legend id='gfield_label_37_3' class='gfield_label gform-field-label gfield_label_before_complex' ><span class='gform-field-label__text'>Consent<\/span><span class=\"gfield_required\"><span class=\"gfield_required gfield_required_text\">(Required)<\/span><\/span><\/legend><div class='ginput_container ginput_container_consent'><input name='input_3.1' id='input_37_3_1' type='checkbox' value='1'   aria-labelledby=\"input_37_3_1_label gfield_label_37_3\" aria-required=\"true\" aria-invalid=\"false\"   \/> <label id='input_37_3_1_label' class=\"gform-field-label gform-field-label--type-inline gfield_consent_label\" for='input_37_3_1' ><span class='gform-field-label__text'>I have read the <a href=\"https:\/\/www.iubenda.com\/privacy-policy\/26599214\" target=\"_blank\" rel=\"noopener\">privacy notice<\/a> and ask to receive the report at the address given.<\/span><\/label><input type='hidden' name='input_3.2' value='I have read the &lt;a href=&quot;https:\/\/www.iubenda.com\/privacy-policy\/26599214&quot; target=&quot;_blank&quot; rel=&quot;noopener&quot;&gt;privacy notice&lt;\/a&gt; and ask to receive the report at the address given.' class='gform_hidden' \/><input type='hidden' name='input_3.3' value='32' class='gform_hidden' \/><\/div><\/fieldset><fieldset id=\"field_37_22\" class=\"gfield gfield--type-checkbox gfield--type-choice gfield--width-full exclude bng-iper-nl field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible gfield--choice-align-vertical\" data-group-id=\"ac716b1e\" data-field-span=\"12\"><legend id='gfield_label_37_22' class='gfield_label gform-field-label gfield_label_before_complex' ><span class='gform-field-label__text'>Newsletter (optional)<\/span><\/legend><div class='ginput_container ginput_container_checkbox'><div class='gfield_checkbox ' id='input_37_22'><div class='gchoice gchoice_37_22_1'>\n\t\t\t\t\t\t\t\t<input class='gfield-choice-input' name='input_22.1' type='checkbox'  value='newsletter'  id='choice_37_22_1'    aria-labelledby=\"label_37_22_1 gfield_label_37_22\"\/>\n\t\t\t\t\t\t\t\t<label for='choice_37_22_1' id='label_37_22_1' class='gform-field-label gform-field-label--type-inline'>I would like to receive the firm\u2019s newsletter with regulatory and tax updates. I can unsubscribe at any time.<\/label>\n\t\t\t\t\t\t\t<\/div><\/div><\/div><\/fieldset><div id=\"field_37_4\" class=\"gfield gfield--type-hidden gfield--width-full bng-investimento-h-investimento exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_4' id='input_37_4' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_5\" class=\"gfield gfield--type-hidden gfield--width-full bng-investimento-h-durata exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_5' id='input_37_5' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_6\" class=\"gfield gfield--type-hidden gfield--width-full bng-investimento-h-modo exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_6' id='input_37_6' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_7\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-parametri exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><label id='gfield_label_37_7' class='gfield_label gform-field-label' for='input_37_7'><span class='gform-field-label__text'>Parameters<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_7' id='input_37_7' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_8\" class=\"gfield gfield--type-hidden gfield--width-full bng-investimento-h-van exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_8' id='input_37_8' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_9\" class=\"gfield gfield--type-hidden gfield--width-full bng-investimento-h-tir exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_9' id='input_37_9' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_16\" class=\"gfield gfield--type-hidden gfield--width-full bng-investimento-h-tirm exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_16' id='input_37_16' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_10\" class=\"gfield gfield--type-hidden gfield--width-full bng-investimento-h-recupero exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_10' id='input_37_10' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_11\" class=\"gfield gfield--type-hidden gfield--width-full bng-investimento-h-pi exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_11' id='input_37_11' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_12\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-scenari exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><label id='gfield_label_37_12' class='gfield_label gform-field-label' for='input_37_12'><span class='gform-field-label__text'>Scenarios<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_12' id='input_37_12' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_13\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-flussi exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><label id='gfield_label_37_13' class='gfield_label gform-field-label' for='input_37_13'><span class='gform-field-label__text'>Cash flows<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_13' id='input_37_13' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_14\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-dismissione exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><label id='gfield_label_37_14' class='gfield_label gform-field-label' for='input_37_14'><span class='gform-field-label__text'>Disposal<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_14' id='input_37_14' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_15\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-avvertenze exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b2203366\" data-field-span=\"12\"><label id='gfield_label_37_15' class='gfield_label gform-field-label' for='input_37_15'><span class='gform-field-label__text'>Warnings<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_15' id='input_37_15' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_20\" class=\"gfield gfield--type-captcha gfield--captcha-invisible gfield--width-full field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"fdbc77ac\" data-field-span=\"12\"><div id='input_37_20' class='ginput_container ginput_recaptcha' data-sitekey='6LeCfQQsAAAAAByqpxdUINetUndsd53yS2n943_t'  data-theme='light' data-tabindex='-1' data-size='invisible' data-badge='bottomright'><\/div><\/div><div id=\"field_37_24\" class=\"gfield gfield--type-hidden gfield--width-full bng-h-saluto exclude gform_hidden field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"c9bbfe4f\" data-field-span=\"12\"><div class='ginput_container ginput_container_text'><input name='input_24' id='input_37_24' type='hidden' class='gform_hidden'  aria-invalid=\"false\" value='' \/><\/div><\/div><div id=\"field_37_17\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-esito exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b0b60119\" data-field-span=\"12\"><label id='gfield_label_37_17' class='gfield_label gform-field-label' for='input_37_17'><span class='gform-field-label__text'>Outcome<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_17' id='input_37_17' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_18\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-scomposizione exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"212dd78a\" data-field-span=\"12\"><label id='gfield_label_37_18' class='gfield_label gform-field-label' for='input_37_18'><span class='gform-field-label__text'>NPV breakdown<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_18' id='input_37_18' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_19\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-soglie exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"3657b6a4\" data-field-span=\"12\"><label id='gfield_label_37_19' class='gfield_label gform-field-label' for='input_37_19'><span class='gform-field-label__text'>Thresholds<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_19' id='input_37_19' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_27\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-condizioni exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"a95c6f57\" data-field-span=\"12\"><label id='gfield_label_37_27' class='gfield_label gform-field-label' for='input_37_27'><span class='gform-field-label__text'>Conditions<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_27' id='input_37_27' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_28\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-iva exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"cf68d446\" data-field-span=\"12\"><label id='gfield_label_37_28' class='gfield_label gform-field-label' for='input_37_28'><span class='gform-field-label__text'>VAT<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_28' id='input_37_28' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_29\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-beni exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"cea28a77\" data-field-span=\"12\"><label id='gfield_label_37_29' class='gfield_label gform-field-label' for='input_37_29'><span class='gform-field-label__text'>Beni (testo)<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_29' id='input_37_29' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_30\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-pianotesto exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"bb3b46ae\" data-field-span=\"12\"><label id='gfield_label_37_30' class='gfield_label gform-field-label' for='input_37_30'><span class='gform-field-label__text'>Piano: testo<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_30' id='input_37_30' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_31\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-agevolazioni exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"b1043950\" data-field-span=\"12\"><label id='gfield_label_37_31' class='gfield_label gform-field-label' for='input_37_31'><span class='gform-field-label__text'>Agevolazioni da verificare<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_31' id='input_37_31' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div id=\"field_37_32\" class=\"gfield gfield--type-textarea gfield--width-full gf_hidden bng-investimento-h-piano exclude field_sublabel_above gfield--no-description field_description_above field_validation_above gfield_visibility_visible\" data-group-id=\"257ab10d\" data-field-span=\"12\"><label id='gfield_label_37_32' class='gfield_label gform-field-label' for='input_37_32'><span class='gform-field-label__text'>Piano ammortamento (tabella testo)<\/span><\/label><div class='ginput_container ginput_container_textarea'><textarea name='input_32' id='input_37_32' class='textarea large'      aria-invalid=\"false\"   rows='10' cols='50'><\/textarea><\/div><\/div><div 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id='gform_target_page_number_37' value='0' \/>\n            <input type='hidden' autocomplete='off' class='gform_hidden' name='gform_source_page_number_37' id='gform_source_page_number_37' value='1' \/>\n            <input type='hidden' name='gform_field_values' value='' \/>\n            \n        <\/div>\n                        <\/form>\n                        <\/div>\n\t\t                <iframe style='display:none;width:0px;height:0px;' src='about:blank' name='gform_ajax_frame_37' id='gform_ajax_frame_37' title='This iframe contains the logic required to handle Ajax powered Gravity Forms.'><\/iframe>\n\t\t                <script>\ngform.initializeOnLoaded( function() {jQuery('#gform_ajax_frame_37').on('load',function(){var contents = jQuery(this).contents().find('*').html();var is_postback = contents.indexOf('GF_AJAX_POSTBACK') >= 0;if(!is_postback){return;}var form_content = jQuery(this).contents().find('#gform_wrapper_37');var is_confirmation = 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document.createElement( \"span\" );            visibilitySpan.id = \"gform_visibility_test_37\";            gformWrapperDiv.insertAdjacentElement( \"afterend\", visibilitySpan );        }        const visibilityTestDiv = document.getElementById( \"gform_visibility_test_37\" );        let postRenderFired = false;        function triggerPostRender() {            if ( postRenderFired ) {                return;            }            postRenderFired = true;            gform.core.triggerPostRenderEvents( 37, current_page );            if ( visibilityTestDiv ) {                visibilityTestDiv.parentNode.removeChild( visibilityTestDiv );            }        }        function debounce( func, wait, immediate ) {            var timeout;            return function() {                var context = this, args = arguments;                var later = function() {                    timeout = null;                    if ( !immediate ) func.apply( context, args );                };                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else {            triggerPostRender();        }    } );} );\n<\/script>\n<\/div>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-95a7564 e-flex e-con-boxed e-con e-parent\" data-id=\"95a7564\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9739efb elementor-widget elementor-widget-heading\" data-id=\"9739efb\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">How the calculation works<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-0428d14 elementor-widget elementor-widget-heading\" data-id=\"0428d14\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">The indicators<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3c3e8d8 elementor-widget elementor-widget-text-editor\" data-id=\"3c3e8d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>NPV is the sum of cash flows discounted at the discount rate, less the investment; IRR is the rate that brings NPV to zero; payback shows after how many years cumulative cash flows cover the investment. A positive NPV means the project returns more than the chosen discount rate.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-98ee2d8 elementor-widget elementor-widget-heading\" data-id=\"98ee2d8\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Taxes and depreciation<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1c0d998 elementor-widget elementor-widget-text-editor\" data-id=\"1c0d998\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Income tax (IRES or IRPEF) is calculated with a single rate on taxable income; depreciation reduces taxable income but is not a cash outflow. IRAP, the cost uplift for hyper-depreciation, deductibility limits and tax credits are optional.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-447a384 elementor-widget elementor-widget-heading\" data-id=\"447a384\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Scenarios<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-f6bf8b3 elementor-widget elementor-widget-text-editor\" data-id=\"f6bf8b3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Besides the base case, the tool calculates two alternative scenarios from the changes in revenue and costs that you enter, and compares them in the result and in the report. Year-by-year values can also be edited.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-de1cc9d e-flex e-con-boxed e-con e-parent\" data-id=\"de1cc9d\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-7265ec3 elementor-widget elementor-widget-heading\" data-id=\"7265ec3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Assumptions and limits<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-d02a805 elementor-widget elementor-widget-heading\" data-id=\"d02a805\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What is already set<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bf93348 elementor-widget elementor-widget-text-editor\" data-id=\"bf93348\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Parameters are in the Parameters panel, closed by default: discount rate, tax rate, tax depreciation, disposal value, growth of revenue and costs and the treatment of losses. Year-by-year values are pre-filled and can be reset.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-44596bc elementor-widget elementor-widget-heading\" data-id=\"44596bc\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">What the calculation does not consider<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-bd1abf1 elementor-widget elementor-widget-text-editor\" data-id=\"bd1abf1\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Cash flows fall at year end, with no inflation or changes in working capital; surtaxes, other incentives and the rules for small businesses are not considered. The final capital gain is taxed in full in the year, except for the sale of a business or business unit held for at least three years (art. 86(4) TUIR).<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9ec272b elementor-widget elementor-widget-heading\" data-id=\"9ec272b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Losses<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-161e16d elementor-widget elementor-widget-text-editor\" data-id=\"161e16d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The treatment of losses can be set to no tax saving, immediate saving or carry-forward under art. 84 TUIR, with the 80% income limit and no time limit. With the prudent setting, the NPV of projects that start with losses may be understated.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-0e67f67 e-flex e-con-boxed e-con e-parent\" data-id=\"0e67f67\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-01f5b16 elementor-widget elementor-widget-heading\" data-id=\"01f5b16\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Notice and sources<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3edcb44 bng-iper-print elementor-widget elementor-widget-text-editor\" data-id=\"3edcb44\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>This is an indicative simulation based on general information. It does not replace an assessment of the specific case: investment decisions must be assessed with the company\u2019s actual data, the text of the rules and company records.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ac6fcd3 bng-iper-print elementor-widget elementor-widget-text-editor\" data-id=\"ac6fcd3\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Last legal check: 6 November 2026. Sources: Presidential Decree 917\/1986 (TUIR), arts. 11, 77, 84, 86, 101, 102 and 164; Law no. 199 of 30 December 2025, art. 1, paras. 3, 42 and 427-436; Legislative Decree 446\/1997, art. 16; Ministerial Decree of 31 December 1988 on depreciation coefficients.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9aae7cb e-con-full e-flex e-con e-parent\" data-id=\"9aae7cb\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element- elementor-widget elementor-widget-html\" data-id=\"\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"html.default\">\n\t\t\t\t\t<style>.eco{max-width:1290px;margin:0 auto;padding:56px 40px;box-sizing:border-box}.eco h2{font-size:clamp(22px,3vw,30px);margin:0 0 22px}.eco-g{display:grid;grid-template-columns:repeat(auto-fit,minmax(260px,1fr));gap:18px}.eco a{display:block;padding:20px 22px;border:1px solid rgba(128,128,128,.28);border-radius:12px;text-decoration:none;color:inherit;transition:transform .2s,border-color .2s}.eco a:hover,.eco a:focus-visible{transform:translateY(-3px);border-color:#389193;outline:none}.eco b{display:block;color:#389193;font-size:18px;margin-bottom:6px}.eco span{font-size:15px;line-height:1.5;opacity:.85}@media(max-width:600px){.eco{padding:40px 20px}}@media(prefers-reduced-motion:reduce){.eco a{transition:none}}<\/style>\n<section class=\"eco\"><h2>Learn more<\/h2>\n<div class=\"eco-g\">\n<a href=\"\/en\/services\/business-consulting\/\"><b>Business consulting<\/b><span>Corporate transactions, statutory audit and the growth of startups and innovative SMEs.<\/span><\/a>\n<a href=\"\/en\/hyper-depreciation-calculator-2026\/\"><b>Hyper-depreciation calculator<\/b><span>Estimate of the uplift and tax saving on 4.0 investments.<\/span><\/a>\n<a href=\"\/en\/solutions\/outsourced-cfo\/\"><b>Outsourced CFO<\/b><span>Finance function and management control for businesses.<\/span><\/a>\n<a href=\"\/en\/resources\/\"><b>Resources<\/b><span>Tools, registers, whitepapers and updates from the firm.<\/span><\/a>\n<\/div><\/section>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Appraisal of a business investment with NPV, IRR, modified IRR, payback and a comparison of three scenarios, with an optional PDF report.<\/p>\n","protected":false},"author":4,"featured_media":409,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_acf_changed":false,"content-type":"","wpai_generated_summary":"","footnotes":""},"tipo_pagina":[4828],"class_list":["post-31240","page","type-page","status-publish","has-post-thumbnail","hentry","tipo_pagina-strumento"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Investment appraisal: NPV, IRR and payback | Beneggi e Associati<\/title>\n<meta name=\"description\" content=\"Calculator to appraise a business investment: NPV, IRR, modified IRR, payback and profitability index, with taxes, depreciation and three scenarios. 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