The best replacement for internal rate of return is npv.

The best alternatives to internal rate of return are rated as following:
★★★★★  npv
★★★★  net present value
★★★  discount rate
★★★  modified internal rate of return
★★  return on investment
★★  time weighted
★★  time weighted return
★★  rate of return
★  cap rate
★  yield to maturity
★  cost of capital
★  payback period
★  average rate of return
★  accounting rate of return
★  annual rate of return
★  return on equity
★  net rate of return
★  external rate of return
  required rate of return
  weighted average cost of capital
  internal rate of return
  time weighted rate of return
  irr
  profitability index
  discounted cash flow
  net present

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internal rate of return
npv
net present value