When does a cell contain a value on excel?

A cell in Excel contains a value when it holds data that can be a number, text, date, or formula. This data is visible within the cell and can be used in calculations, functions, or referenced in other cells. If a cell is empty, it does not contain any value, while a cell with a formula shows a value based on its computation. Additionally, a cell can also contain formatting or comments, but these do not count as the cell's value.