CAGR (Compound annual growth rate)  复合年均增长率

复合年均增长率（Compound annual growth rate，简称CAGR）是指一项投资在一特定时期内的年度增长率。其具体应用如下：1.计算和反映投资平均回报；2.展示和比较投资顾问的实绩；3.比较债券与储蓄的投资回报。值得说明的是，CAGR并不等等同于现实中的GR（Growth Rate）数值，它所描述的目的是将投资的回报率转换为一个较为稳定的投资回报所得到的预想值。我们可以认为CAGR平滑了回报曲线，不会为短期的回报剧变而迷失。年增长率是一个短期的概念，从一个产品或产业的发展来看，可能处在成长期或爆发期而年度结果变化很大，但如果以复合增长率在衡量，因为这是个长期时间基础上的核算，所以更能够说明产业或产品增长或变迁的潜力和预期。

Compound annual growth rate (CAGR) is the rate of return that would be required for an investment to grow from its beginning balance to its ending balance, assuming the profits were reinvested at the end of each year of the investment’s lifespan. The compound annual growth rate isn't a true return rate, but rather a representational figure. It is essentially a number that describes the rate at which an investment would have grown if it had grown the same rate every year and the profits were reinvested at the end of each year. In reality, this sort of performance is unlikely. However, CAGR can be used to smooth returns so that they may be more easily understood when compared to alternative investments.

例句1

The compound annual growth rate can be used to calculate the average growth of a single investment. As we saw in our example above, due to market volatility, the year-to-year growth of an investment will likely appear erratic and uneven. For example, an investment may increase in value by 8% in one year, decrease in value by -2% the following year and increase in value by 5% in the next. CAGR helps smooth returns when growth rates are expected to be volatile and inconsistent.

复合年均增长率可用于计算单一投资的平均增长率。如上述例子所示，由于市场波动，一项投资的年度增长可能会不稳定和不均衡。例如，一项投资可能在一年内价值增加8%，在下一年价值减少-2%，再在下一年价值增加5%。当增长率预计会波动和不稳定时，复合年均增长率有助于回报的平稳。

例句2

IDC forecasts China’s total inkjet market will register a 5-year compound annual growth rate of 4.1%, with shipments reaching 4.94 million units in 2011.

IDC预计未来5年中国整体喷墨打印机市场的复合年均增长率仍将达4.1%，到2011年总出货量将达到494万台。

例句3

Bluetooth-enabled device shipments are now expected to achieve a compound annual growth rate of 39 percent over 2006, bringing the market to 982 million units by 2013.

具有蓝牙功能的设备的出货量，在2006年过后将实现39％的复合年均增长率，到2013年前带来9.82亿件的市场交易量。