Excel has two separate formula tools: hiding formulas from other users with sheet protection, and showing formulas on your own screen for review. They are unrelated toggles, so use the one that matches the job.
Does this affect you?
Use this for Excel for Microsoft 365, Excel 2021, and Excel 2019 on Windows or Mac when sharing a workbook with formulas or auditing formulas in your own sheet.
Hide formulas from people using the file
Hidden formulas only take effect after sheet protection is turned on.
- Select the formula cells, or press Ctrl+A to select the whole sheet.
- Press Ctrl+1 on Windows or Cmd+1 on Mac.
- Open the Protection tab.
- Check Hidden and leave Locked checked.
- Open Review > Protect Sheet.
- Optionally enter a password and confirm it.
- Save the file.
After protection is applied, users see formula results in cells, but the formula bar stays blank for protected hidden cells.
Show every formula on the sheet at once
Use this for your own review.
- Click anywhere in the sheet.
- Press Ctrl+` on Windows, or Cmd+` on Mac. The backtick key is usually above Tab.
- Excel shows formulas instead of calculated results.
- Press the same shortcut again to return to normal results view.
More control
Leave input cells editable
Sheet protection locks every cell by default. Before protecting the sheet, select user-input cells, open Format Cells > Protection, and uncheck Locked. Those cells remain editable while formulas stay protected.
Formula view can print
If formulas are visible on screen, printing or exporting to PDF can include them. Switch back to normal view before sending a polished copy.
Protection is not strong security
Worksheet protection stops casual edits and formula viewing, but it can be bypassed. For sensitive logic, send a values-only copy using Paste Special > Values.
Google Sheets is different
Google Sheets can protect ranges from editing, but it does not have the same per-cell hidden formula bar behavior for viewers who already have access.
Sources
- Microsoft Support – Hide or show formulas (2025)
- Microsoft Support – Protect a worksheet (2025)
- Microsoft Support – Show formulas instead of their results (2024)