AFFO Calculator — Adjusted Funds From Operations

Written by Great Medico

Updated September 25, 2026 •2 min read

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Small changes in rates, timing, or amounts can materially change a finance result. AFFO Calculator — Adjusted Funds From Operations adjusts funds from operations for recurring capital spending and other recurring adjustments to estimate a REIT-style adjusted funds from operations figure, which makes the assumptions easier to test side by side.

What this calculator does

AFFO Calculator — Adjusted Funds From Operations adjusts funds from operations for recurring capital spending and other recurring adjustments to estimate a REIT-style adjusted funds from operations figure. The visible inputs are funds from operations, recurring capital expenditures, straight-line rent adjustment, and other recurring adjustments. Its result is driven by those values, so the calculation can be reproduced or stress-tested without relying on a hidden live-data feed.

How to use it

Enter Funds from operations, Recurring capital expenditures, Straight-line rent adjustment, and Other recurring adjustments. Keep all monetary inputs in the same currency; the currency selector formats results and does not perform foreign-exchange conversion. Before calculating, recheck Funds from operations, Recurring capital expenditures, Straight-line rent adjustment against the source values you intend to model. Use the labels on AFFO Calculator — Adjusted Funds From Operations as the source of truth and recheck any prefilled value before relying on the result.

How the calculation works

AFFO = FFO − recurring capital expenditures − straight-line rent adjustment ± other recurring adjustments, using the signs represented by the entered fields. AFFO Calculator — Adjusted Funds From Operations applies that relationship only to the inputs represented on its form. If the result looks surprising, verify the entered values, units, and signs before interpreting the number.

Example

If FFO is $200,000, recurring capex is $30,000, and the straight-line rent adjustment is $5,000 with no other adjustment, modeled AFFO is $165,000. The example is a math check for AFFO Calculator — Adjusted Funds From Operations; replace the sample values with your own inputs rather than treating the example as a target or recommendation.

How to interpret the result

AFFO attempts to move from accounting-oriented FFO toward a recurring cash-generation view. It is often more useful for comparing sustainable property-company cash flow than unadjusted net income, but definitions vary. A change in the result should be traced back to the input that changed before you draw a practical conclusion.

Limitations and notes

AFFO is not standardized under GAAP and companies may define adjustments differently. Acquisition costs, leasing commissions, tenant improvements, debt items, and one-time adjustments may require treatment beyond the fields shown. The safest way to reuse this calculation later is to keep the source values and date with the result.