A company’s revenue grows 15% annually. If it earned $2 million in 2020, what was it in 2023?

Wed, 29 Apr 2026 18:18:14 +0000

Company Revenue Grows 15% Annually: $2 Million in 2020 Becomes $3.49 Million in 2023 A remarkable example of consistent growth in today’s competitive business environment is a company that achieved a 15% annual revenue increase from 2020 to 2023. Starting with $2 million in earnings in 2020, this steady expansion demonstrates strong business performance and effective strategic planning. ### The Power of Compound Annual Growth With annual revenue growth of 15%, the company’s financial trajectory followed a compounding pattern. Instead of growing linearly, the growth built upon itself each year, resulting in a significantly higher final figure by 2023.