Can You Make a Stacked Waterfall Chart in Excel?

Yes—but Excel does not provide a native chart type that combines stacked components with waterfall steps. In Microsoft Excel for Microsoft 365 on Windows, you can build the effect with a 2-D Stacked Column chart and helper columns: make one series invisible to position each change, then plot the visible increase, decrease, and total bars.

If you only need a conventional waterfall chart, Excel’s built-in Waterfall chart is usually simpler. The stacked-column method is useful when each step needs to show several subcomponents, such as how different product lines contribute to a monthly change.

What a stacked waterfall chart shows

A waterfall chart tracks a running value as it rises or falls. Each movement bar begins at the previous step’s ending value, rather than at zero. A final total bar usually returns to the baseline so readers can see the overall result. This makes it easy to follow a bridge from one figure to another, such as revenue at the start of a quarter, changes during the quarter, and revenue at the end.

A stacked chart divides a column into multiple series. For example, a change in total revenue might be split into the contributions from three regions. A stacked waterfall aims to show both ideas: steps that float at their running totals, and segments within a step that show the components of that change.

Excel’s built-in Waterfall chart handles running changes and totals, but it is not a general-purpose stacked waterfall chart. The stacked-column workaround uses several series and carefully prepared data to imitate the floating bars. It is more flexible in some ways, but requires more setup and maintenance.

Choose between the built-in chart and a workaround

For a simple bridge with one value per step, start with the native chart. Select the category labels and change values, then choose Insert > Insert Waterfall, Funnel, Stock, Surface or Radar Chart > Waterfall. To make a bar represent a fixed subtotal or total rather than another change, right-click that bar and choose Set as Total. The chart can also show connector lines between steps.

Use the stacked-column workaround when each movement needs meaningful subcategories, or when you need more control over the series and colors than the built-in chart provides. It can also be useful when a report template requires a particular chart style. The trade-off is that Excel will treat the result as a stacked column chart, not as a native waterfall. It will not automatically understand which bars are totals or draw waterfall connectors.

Before choosing, ask what the audience needs to read. If the priority is a clear running balance, a native waterfall is usually easier to interpret. If the priority is showing the makeup of each increase or decrease, a stacked design may earn its extra complexity. Avoid stacking merely to add decoration: small segments and many colors can make the underlying changes harder to compare.

Prepare the helper table

The workaround depends on an invisible base series. For each change, that base is the lower of the step’s starting and ending values. The visible increase or decrease is then stacked above it. Because a stacked column chart adds positive series upward from the baseline, the decrease is plotted as a positive bar at the lower ending level, not as a negative segment. A separate total series creates the opening and closing bars.

Here is a small example. The opening value is 1,000; sales add 400; costs subtract 150; refunds subtract 50; and other income adds 100. The ending value is 1,300. Set up a source table with the step names in A2:A7 and the opening value or signed movement in B2:B6. Use rows 2 through 6 for Start, Sales, Costs, Refunds, and Other income; use row 7 for Ending. Add helper columns for running balance, base, increase, decrease, and total.

Start: 1,000.
Sales: +400, bringing the balance to 1,400.
Costs: −150, bringing it to 1,250.
Refunds: −50, bringing it to 1,200.
Other income: +100, bringing it to 1,300, which is also the ending total.

With the opening amount in B2 and signed movements in B3:B6, put the running balance in D2:D6. With the opening amount in B2, enter this in D2:

With the opening value in B2, the formula for the starting balance in D2 is =B2. It returns 1,000.

With the running balance in column D, and the next movement in B3, enter this in D3 and fill it down through D6:

With the previous balance in D2 and the next signed change in B3, the formula for D3 is =D2+B3. It returns 1,400 for Sales; filling down produces 1,250, 1,200, and 1,300 for the remaining movements.

Now add three helper series. For the Sales row, with the previous balance in D2 and the new balance in D3, enter this in E3 for the invisible base:

With the prior and new balances in D2 and D3, the formula for E3 is =MIN(D2,D3). It returns 1,000, the lower edge of the Sales bar.

With the signed movement in B3, enter this in F3 for the increase series:

With the movement in B3, the formula for F3 is =MAX(B3,0). It returns 400 for Sales and zero for a decrease.

With the signed movement in B3, enter this in G3 for the decrease series:

With the movement in B3, the formula for G3 is =MAX(-B3,0). It returns zero for Sales and a positive 150 for Costs. Copy the formulas in E3:G3 down through row 6. For a decrease, the base is the new, lower balance and the decrease segment extends upward to the old balance.

Finally, make the total series show 1,000 in the Start row and 1,300 in the Ending row, with zeros for the movement rows. With the opening value in B2, enter =B2 in the total-series cell for the Start row. With the final running balance in D6, enter =D6 in the total-series cell for the Ending row. These produce 1,000 and 1,300, respectively.

Build the chart in Excel for Windows

Select the category labels and the helper series, including the base, increase, decrease, and total columns. Include all rows from Start through Ending.
Choose Insert > Insert Column or Bar Chart > 2-D Stacked Column. If Excel places the categories in the legend and the series along the horizontal axis, use Chart Design > Switch Row/Column.
Click a base-series column, open Format Data Series, and set Fill to No fill and Border to No line. The base remains part of the chart’s calculations but becomes invisible.
Format Increase, Decrease, and Total with distinct, consistent fills. For example, use one color for positive movements, another for negative movements, and a neutral color for totals.
Check that the Start and Ending bars begin at zero and that each movement floats between its prior and new balance. Add a chart title and axis labels that explain the measure and units.

The Excel for Mac chart concepts are the same, but ribbon layout and wording can vary by release. In current desktop versions, use the Insert tab to choose a 2-D Stacked Column chart, then format the base series with No fill and No line. Excel for the web supports common chart creation and formatting, but some detailed formatting controls can differ from the desktop app. If a specific control is missing, open the workbook in desktop Excel.

Improve readability and keep the chart maintainable

Use a clear ordering: opening total, changes in a meaningful sequence, and ending total. A chronological order is appropriate for monthly cash movement; a labeled bridge might group drivers by business area. Keep positive and negative colors consistent, and use a separate total color so readers do not mistake a total for a movement.

Data labels need thought. The increase and decrease helper series are positive magnitudes, so labels attached to those series will not automatically display the original signed changes. A decrease of 150 may appear as 150 rather than −150. You can use custom labels or carefully chosen labels linked to cells, where available in your Excel version, but check the result after edits. A clear axis and a nearby table of signed movements can be more dependable than crowded labels.

Keep the source table and helper columns together, and use descriptive headers. If you add steps, extend the formulas and the chart’s data range; otherwise the chart may silently omit new rows. Check that the total series contains values only for the opening and closing bars, and that helper bases are hidden rather than deleted. Removing the base series would make movement bars start at zero and destroy the floating effect.

Limits and common problems

The simplest helper design assumes the running balances stay at or above zero. If a step crosses below zero, or the chart must show negative totals on both sides of a zero baseline, the invisible-base construction may not behave as readers expect. It may need a more elaborate offset design, or a different visual approach. Test any such chart against a hand-calculated table before relying on it.

Other frequent issues have straightforward causes:

Bars start at zero: the base series may not be included, may not be hidden correctly, or may contain incorrect formulas.
A decline points the wrong way: the decrease helper should use the positive size of the decline, while the base should use the lower balance.
The final bar is floating: put the final value in the total series and leave the base and movement series at zero for that row.
Category order looks reversed: check the chart’s source range and category-axis settings, especially if the first category appears at the far right.
Labels show unsigned changes: the plotted decrease is a positive segment by design; use signed source values for labels if you need minus signs.

Also remember that stacked columns encode segment size, not just direction. Comparing one component across steps can be difficult when its segment begins at a different height each time. If precise comparisons between components matter more than the running bridge, consider a separate grouped column chart or a table alongside the waterfall.

Frequently Asked Questions

Does Excel have a stacked waterfall chart type?
No. Excel has a native Waterfall chart and a separate Stacked Column chart. A stacked waterfall appearance can be built with helper data and a stacked column chart, but it remains a workaround rather than a built-in combined type.

Can I show several causes in each waterfall step?
Yes, if the helper table and chart are designed for those component series. Each step’s components must add up to its signed change, while the invisible base positions the stack at the right running balance. Check that the component totals reconcile with the source movement.

Can I add connector lines to the stacked-column version?
Not automatically as waterfall connectors. Excel’s native Waterfall chart supplies connectors, but a stacked column chart does not know the running-balance relationship. You can add lines as manual shapes, but they may need adjustment when data or chart dimensions change.

Why do decreases appear as positive values?
The workaround draws a decrease as a positive segment whose base is the lower ending balance. That makes the segment span from the new balance up to the old one. The source movement should remain negative; only the helper value used to draw the segment is positive.

Which chart should I use for a simple financial bridge?
Use Excel’s native Waterfall chart when each step is a single increase or decrease and you need totals and connectors. Use the stacked-column workaround when showing the internal composition of steps is important enough to justify extra helper columns and formatting.

Try it: the Percentage Formula Generator: percent of, percent change, increase and decrease, with the formula.

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Sources: Function behaviour and menu paths: Microsoft Support documentation for Excel. Method & sources

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