Calculate Company Age from Current Year in Excel

Calculate Company Age based on Current Year in Excel

Calculating the age of a company based on the current year is a fundamental operation when working with business data in Excel. To achieve this, you need to know the exact date the company was founded. Suppose you have that information in an Excel spreadsheet, and you have a column for the company's founded date. Now, let's learn how to calculate the company's age based on the current year using Excel formulas and functions.

Prerequisites

Ensure that you have the date of the company's founding in a specific format (such as 'dd-mmm-yyyy') in your Excel worksheet. This tutorial assumes you have the date of the company's founding in cell A2.

Getting the Current Year

To begin, you need to get the current year in Excel. You can achieve this using the YEAR function, which retrieves the year part of a date. However, we don't have a specific date for the current year; we use a simple and well-known date that won't change, like January 1 of the current year. Excel can recognize this and return the correct year for us.

This formula delivers the current year in Excel. Now, let's learn how to find the difference between the current year and the founding year.

Calculating the Difference between the Years

To determine the company's age, you need to calculate the difference between the current year and the founding year. Excel's YEARFRAC function can be used alongside some simple arithmetic operations to get the job done.

In this formula, replace A2 with the cell containing the company's founding year. Here's a rundown of what's happening:

• YEAR(TODAY()): Obtains the current year
• YEAR(A2): Obtains the founded year
• (YEAR(TODAY()) - YEAR(A2)): Calculates the total years elapsed (ignoring the founded day)
• DAY(TODAY()) < DAY(A2): Verifies if the founded day has passed in the current year. If it has not passed, then the result is TRUE, and as a Boolean value, it equates to 0. If the founded day has already passed in the current year, the result is FALSE or 1
• (DAY(TODAY()) < DAY(A2)): Returns 0 or 1. We subtract it from the total elapsed years, correcting the counting for the current year, if any.

You have successfully calculated the company's age based on the current year in Excel!

• YEAR: Returns the year part of a date
• TODAY: Returns the current date in Excel
• YEARFRAC: Returns the year fraction of an Excel date
• Subtracting a year from another yields their difference in years (integer value)
• You may need to verify if the founded day has passed in the current year. If it hasn't, the company's age should be adjusted accordingly.

References

• YEAR Function
• TODAY Function
• YEARFRAC Function
• Calculate Age from Date of Birth – Exceljet