Chaos - I think I'm missing something. I don't understand why 1 - PERCENTRANK isn't right.
Just had a play with the dataset from the Excel help file:
Sheet1
<TABLE style="PADDING-RIGHT: 2pt; PADDING-LEFT: 2pt; FONT-SIZE: 10pt; FONT-FAMILY: Arial,Arial; BACKGROUND-COLOR: #ffffff" cellSpacing=0 cellPadding=0 border=1><COLGROUP><COL style="FONT-WEIGHT: bold; WIDTH: 30px"><COL style="WIDTH: 64px"><COL style="WIDTH: 64px"><COL style="WIDTH: 64px"><COL style="WIDTH: 64px"></COLGROUP><TBODY><TR style="FONT-WEIGHT: bold; FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center"><TD></TD><TD>A</TD><TD>B</TD><TD>C</TD><TD>D</TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">16</TD><TD></TD><TD></TD><TD>PCR</TD><TD>1- PCR</TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">17</TD><TD style="TEXT-ALIGN: right">13</TD><TD></TD><TD></TD><TD></TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">18</TD><TD style="TEXT-ALIGN: right">12</TD><TD></TD><TD style="TEXT-ALIGN: right">89%</TD><TD style="TEXT-ALIGN: right">11%</TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">19</TD><TD style="TEXT-ALIGN: right">11</TD><TD></TD><TD></TD><TD></TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">20</TD><TD style="TEXT-ALIGN: right">8</TD><TD></TD><TD></TD><TD></TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">21</TD><TD style="TEXT-ALIGN: right">4</TD><TD></TD><TD></TD><TD></TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">22</TD><TD style="TEXT-ALIGN: right">3</TD><TD></TD><TD></TD><TD></TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">23</TD><TD style="TEXT-ALIGN: right">2</TD><TD></TD><TD></TD><TD></TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">24</TD><TD style="TEXT-ALIGN: right">1</TD><TD></TD><TD></TD><TD></TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">25</TD><TD style="TEXT-ALIGN: right">1</TD><TD></TD><TD></TD><TD></TD></TR><TR style="HEIGHT: 17px"><TD style="FONT-SIZE: 8pt; BACKGROUND-COLOR: #cacaca; TEXT-ALIGN: center">26</TD><TD style="TEXT-ALIGN: right">1</TD><TD></TD><TD></TD><TD></TD></TR></TBODY></TABLE>
<TABLE style="FONT-SIZE: 10pt; BORDER-LEFT-COLOR: #00ff00; BORDER-BOTTOM-COLOR: #00ff00; COLOR: #000000; BORDER-TOP-STYLE: groove; BORDER-TOP-COLOR: #00ff00; FONT-FAMILY: Arial; BORDER-RIGHT-STYLE: groove; BORDER-LEFT-STYLE: groove; BACKGROUND-COLOR: #fffcf9; BORDER-RIGHT-COLOR: #00ff00; BORDER-BOTTOM-STYLE: groove"><TBODY><TR><TD>
Spreadsheet Formulas</TD></TR><TR><TD><TABLE style="FONT-SIZE: 9pt; FONT-FAMILY: Arial" cellSpacing=0 cellPadding=2 border=1><TBODY><TR style="FONT-SIZE: 10pt; BACKGROUND-COLOR: #cacaca"><TD>Cell</TD><TD>Formula</TD></TR><TR><TD>C18</TD><TD>=PERCENTRANK($A$17:$A$26,A18)</TD></TR><TR><TD>D18</TD><TD>=1-C18</TD></TR></TBODY></TABLE></TD></TR></TBODY></TABLE>
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For 12 in reverse order - there is 1 value that is "smaller" than it and 8 "bigger", so 1/(8+1) = 0.11 - which is the answer that 1 - PERCENTRANK gives (obviously, but just worked it through fully to check my reasoning!). What am I missing?
(BTW - used the sample data because I don't really get what yours are about. Is each column a company? The target is each company's target debt days? What is the rank?)