Calculate simple ROI by subtracting the investment’s total cost from its total proceeds, dividing the result by that cost, then multiplying by 100. The percentage is meaningful only when you define what counts as cost and return—and remember that simple ROI does not account for how long the investment was held.
Calculate simple ROI
ROI (%) = ((total proceeds − total investment cost) ÷ total investment cost) × 100
Use the same defined investment for both figures. Count what you paid as the cost base, including relevant fees; count the value received or remaining value as proceeds. If income such as dividends or bond interest is part of the return you want to measure, include it. Fidelity’s explanation of the ROI formula notes that costs may include fees beyond the purchase price and proceeds may include additional payments.
For a result after taxes, subtract applicable taxes from proceeds or include them in costs—but be consistent and state which method you used. A calculation that omits costs, taxes, or income can answer a different question from the one you intended.
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Worked example
Fidelity illustrates a stock investment bought for $2,000 and sold for proceeds of $2,600. The $600 gain divided by the $2,000 cost equals 0.30; multiplied by 100, that is 30% ROI. This is an example calculation, not a forecast or recommended return.
Choose what “return” means
ROI is a ratio, not one universally fixed accounting measure. Before calculating, decide whether you want to measure profit, price movement, or the full return including investment income. The Corporate Finance Institute’s ROI calculator guidance describes these common variants:
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| Measure | What it counts | Useful for |
|---|---|---|
| Net income ROI | Net income relative to the original investment cost | Assessing a project or asset that generates recurring profit |
| Capital gain ROI | Change in value from purchase to sale, relative to the investment base | Measuring appreciation alone |
| Total return ROI | Capital gains plus income such as dividends or interest, relative to cost | Comparing full investment performance across asset types |
For a business or project, define benefits and costs for the decision at hand; revenue is not automatically profit. For example, the Agency for Healthcare Research and Quality’s ROI estimation instructions describe estimating potential savings from program costs and expected changes in healthcare utilization.
Adjust for the holding period when comparing returns
Simple ROI does not include time. A 30% return over one year is not equivalent to 30% over five years, so compare investments held for similar periods or annualize the result when durations differ.
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For a holding period measured in years, the annualized return formula is [(ending value ÷ beginning value) ^ (1 ÷ number of years)] − 1. Multiply the result by 100 if you want to express it as a percentage. This compounds the return across the stated period; it does not incorporate every factor relevant to choosing an investment.
What ROI leaves out
- Costs and taxes: Fees, trading costs, and taxes can reduce what you keep. Include them for a net result, and label the calculation if you have excluded any.
- Inflation: A positive nominal ROI can still overstate the increase in purchasing power. Capital One’s ROI overview identifies inflation as a factor in interpreting returns.
- Risk and goals: A high or positive ROI does not guarantee a good choice. Potential return, risk of loss, time horizon, and personal objectives all matter.
Is a particular ROI good?
There is no universal percentage that makes an ROI “good.” The answer depends on what was invested in, the risk taken, the time involved, which costs and income were counted, and the investor’s goals. A percentage on its own is not enough to rank two investments fairly: align their measurement methods and periods, then consider inflation and risk.
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Use the result as a comparison, not a verdict
A calculator can show whether a defined investment produced a gain or loss relative to its defined cost. To make that number useful, label the return measure, include the relevant costs and income, and account for duration when comparing different holding periods. ROI is one input to a decision—not a guarantee of future performance or a complete measure of whether an investment suits you.
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