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The Corporate Finance Institute ExcelThe result we get is shown below:As seen above, the RANK function gives duplicate numbers the same rank.However, the presence of duplicate numbers affects the ranks of subsequentnumbers. For example, as shown above, in a list of integers sorted inascending order, the number 100 appears twice with a rank of 4. The nextvalue (25) will be ranked 6 (no number will be ranked 5).If we want unique ranks, we can use the formula:=RANK(C5,$C$5:C$10,0)+COUNTIF($C$5:C5,C5)-1corporatefinanceinstitute.com200
The Corporate Finance Institute ExcelWe will get the results below:For ascending order, the formula would be:=RANK.EQ(C5,$C$5:C$10,1)+COUNTIF($C$5:C5,C5)-1In both formulas, it’s the COUNTIF function that does the trick. We usedCOUNTIF to find out the number of times the number occurred that wasranked. In COUNTIF formula, the range consists of a single cell ($C$5:C5). As welocked only the first reference ($C$5), the last relative reference (C5) changesbased on the row where the formula is copied. Thus, for row 7, the rangeexpands to $C$5:C10, and the value in C10 is compared to each of the abovecells.Thus, for all unique values and first occurrences of duplicate values, COUNTIFreturns 1; and we subtract 1 at the end of the formula to restore the originalrank.For ranks occurring the second time, COUNTIF returns 2. By subtracting 1, weincreased the rank by 1 point, thus preventing duplicates. If there happen to be3 plus occurrences of the same value, COUNTIF()-1 would add 2 to theirranking, and so on.Things to remember about the RANK Function1. #N/A! error – Occurs when the given number is not present in the suppliedreference. Also, the RANK function does not recognize text representationsof numbers as numeric values, so we will also get the #N/A error if thevalues in the supplied ref array are text values.2. If we provide logical values, we will get the #VALUE! error.Click here to download the sample Excel filecorporatefinanceinstitute.com201
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