The present value is usually less than the future value because money has interest-earning potential a characteristic referred to as the time value of money except during times of zero- or negative interest rates when the present value will be equal or more than the future value. The present value of a cash flow depends on the interval of time between now and the cash flow. It also depends on the discount rate.
In economics and finance present value PV also known as present discounted value is the value of an expected income stream determined as of the date of valuation.
The same formula can be used for cash inflows as well as cash outflows. In other words money received in the future is not worth as much as an equal. NPV accounts for the time value of money. Because of the relationship between future and present values the present-value table is the inverse of the future-value table.