How does RANKX work in a calculated column

Hi mp390988,

Thank you for reaching out in Microsoft Community Forum.

Thank you burakkaragoz  for the helpful response.

Please follow below steps How RANKX Assigns Ranks in a Calculated Column;

Create a simple calendar table with Financial Year (FY) information.

Dim Date =
ADDCOLUMNS(
CALENDAR(DATE(2024, 1, 1), DATE(2026, 12, 31)),
"Month", FORMAT([Date], "MMM"),
"Month Sort", MONTH([Date]),
"Qtr", "Q" & FORMAT([Date], "Q"),
"FY", "FY " &
IF(MONTH([Date]) <= 3,
YEAR([Date]) - 1 & "-" & YEAR([Date]),
YEAR([Date]) & "-" & YEAR([Date]) + 1
)
)

Calculated column to rank the FYs.

FY Order =
RANKX(
'Dim Date',
'Dim Date'[FY],
,
DESC,
DENSE
)

Add a Table visual.

Drag the following fields into the visual:
- Date
- Month
- Qtr
- FY
- FY Order (the calculated column)

Please find the attached .pbix file for your reference. 

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Regards,
Pavan.