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They just run too often.

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FAQ

Why does Excel freeze every time I edit a cell?

Volatile functions such as OFFSET, INDIRECT and TODAY recalculate on every edit; a VLOOKUP over a whole table recalculates when any of its columns changes; IF(ISERROR(X),…,X) computes X twice.

Will the results change?

Every rewrite passes three checks: the old formula evaluates to the cached value, old and new agree, and they still agree when inputs are swapped for blanks, zeros, negatives, text and other edge values. Anything unproven stays as is.

Why not switch VLOOKUP to XLOOKUP?

An equivalent XLOOKUP needs wildcard mode, which measured 4× slower, and the two differ when the lookup value is blank.

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