diff --git a/include/xlnt/worksheet/range_reference.hpp b/include/xlnt/worksheet/range_reference.hpp
index 652b6380..939cd314 100644
--- a/include/xlnt/worksheet/range_reference.hpp
+++ b/include/xlnt/worksheet/range_reference.hpp
@@ -115,6 +115,11 @@ public:
     /// </summary>
     std::string to_string() const;
 
+    /// <summary>
+    /// Returns true if the given cell reference is within the bounds of this range reference.
+    /// </summary>
+    bool contains(const cell_reference &ref) const;
+
     /// <summary>
     /// Returns true if this range is equivalent to the other range.
     /// </summary>
diff --git a/include/xlnt/xlnt.hpp b/include/xlnt/xlnt.hpp
index 12472c72..514770a4 100644
--- a/include/xlnt/xlnt.hpp
+++ b/include/xlnt/xlnt.hpp
@@ -86,6 +86,7 @@
 #include <xlnt/worksheet/range_reference.hpp>
 #include <xlnt/worksheet/row_properties.hpp>
 #include <xlnt/worksheet/selection.hpp>
+#include <xlnt/worksheet/sheet_format_properties.hpp>
 #include <xlnt/worksheet/sheet_protection.hpp>
 #include <xlnt/worksheet/sheet_view.hpp>
 #include <xlnt/worksheet/worksheet.hpp>
diff --git a/source/detail/serialization/xlsx_consumer.cpp b/source/detail/serialization/xlsx_consumer.cpp
index 0947bad2..7959372a 100644
--- a/source/detail/serialization/xlsx_consumer.cpp
+++ b/source/detail/serialization/xlsx_consumer.cpp
@@ -165,7 +165,7 @@ xlnt::cell_type type_from_string(const std::string &str)
     return xlnt::cell::type::shared_string;
 }
 
-xlnt::detail::Cell parse_cell(xlnt::row_t row_arg, xml::parser *parser)
+xlnt::detail::Cell parse_cell(xlnt::row_t row_arg, xml::parser *parser, std::unordered_map<std::string, std::string> &array_formulae, std::unordered_map<int, std::string> &shared_formulae)
 {
     xlnt::detail::Cell c;
     for (auto &attr : parser->attribute_map())
@@ -202,6 +202,16 @@ xlnt::detail::Cell parse_cell(xlnt::row_t row_arg, xml::parser *parser)
         switch (e)
         {
         case xml::parser::start_element: {
+            if (string_equal(parser->name(), "f") && parser->attribute_present("t"))
+            {
+                // Skip shared formulas with a ref attribute because it indicates that this
+                // is the master cell which will be handled in the xml::parser::characters case.
+                if (parser->attribute("t") == "shared" && !parser->attribute_present("ref"))
+                {
+                    auto shared_index = parser->attribute<int>("si");
+                    c.formula_string = shared_formulae[shared_index];
+                }
+            }
             ++level;
             break;
         }
@@ -223,6 +233,21 @@ xlnt::detail::Cell parse_cell(xlnt::row_t row_arg, xml::parser *parser)
                 else if (string_equal(parser->name(), "f"))
                 {
                     c.formula_string += std::move(parser->value());
+                    
+                    if (parser->attribute_present("t"))
+                    {
+                        auto formula_ref = parser->attribute("ref");
+                        auto formula_type = parser->attribute("t");
+                        if (formula_type == "shared")
+                        {
+                            auto shared_index = parser->attribute<int>("si");
+                            shared_formulae[shared_index] = c.formula_string;
+                        }
+                        else if (formula_type == "array")
+                        {
+                            array_formulae[formula_ref] = c.formula_string;
+                        }
+                    }
                 }
             }
             else if (level == 3)
@@ -251,7 +276,7 @@ xlnt::detail::Cell parse_cell(xlnt::row_t row_arg, xml::parser *parser)
 }
 
 // <row> inside <sheetData> element
-std::pair<xlnt::row_properties, int> parse_row(xml::parser *parser, xlnt::detail::number_serialiser &converter, std::vector<xlnt::detail::Cell> &parsed_cells)
+std::pair<xlnt::row_properties, int> parse_row(xml::parser *parser, xlnt::detail::number_serialiser &converter, std::vector<xlnt::detail::Cell> &parsed_cells, std::unordered_map<std::string, std::string> &array_formulae, std::unordered_map<int, std::string> &shared_formulae)
 {
     std::pair<xlnt::row_properties, int> props;
     for (auto &attr : parser->attribute_map())
@@ -301,7 +326,7 @@ std::pair<xlnt::row_properties, int> parse_row(xml::parser *parser, xlnt::detail
         switch (e)
         {
         case xml::parser::start_element: {
-            parsed_cells.push_back(parse_cell(static_cast<xlnt::row_t>(props.second), parser));
+            parsed_cells.push_back(parse_cell(static_cast<xlnt::row_t>(props.second), parser, array_formulae, shared_formulae));
             break;
         }
         case xml::parser::end_element: {
@@ -326,7 +351,7 @@ std::pair<xlnt::row_properties, int> parse_row(xml::parser *parser, xlnt::detail
 }
 
 // <sheetData> inside <worksheet> element
-Sheet_Data parse_sheet_data(xml::parser *parser, xlnt::detail::number_serialiser &converter)
+Sheet_Data parse_sheet_data(xml::parser *parser, xlnt::detail::number_serialiser &converter, std::unordered_map<std::string, std::string> &array_formulae, std::unordered_map<int, std::string> &shared_formulae)
 {
     Sheet_Data sheet_data;
     int level = 1; // nesting level
@@ -339,7 +364,7 @@ Sheet_Data parse_sheet_data(xml::parser *parser, xlnt::detail::number_serialiser
         switch (e)
         {
         case xml::parser::start_element: {
-            sheet_data.parsed_rows.push_back(parse_row(parser, converter, sheet_data.parsed_cells));
+            sheet_data.parsed_rows.push_back(parse_row(parser, converter, sheet_data.parsed_cells, array_formulae, shared_formulae));
             break;
         }
         case xml::parser::end_element: {
@@ -429,6 +454,9 @@ std::string xlsx_consumer::read_worksheet_begin(const std::string &rel_id)
     {
         streaming_cell_.reset(new detail::cell_impl());
     }
+    
+    array_formulae_.clear();
+    shared_formulae_.clear();
 
     auto title = std::find_if(target_.d_->sheet_title_rel_id_map_.begin(),
         target_.d_->sheet_title_rel_id_map_.end(),
@@ -742,7 +770,8 @@ void xlsx_consumer::read_worksheet_sheetdata()
     {
         return;
     }
-    Sheet_Data ws_data = parse_sheet_data(parser_, converter_);
+
+    auto ws_data = parse_sheet_data(parser_, converter_, array_formulae_, shared_formulae_);
     // NOTE: parse->construct are seperated here and could easily be threaded
     // with a SPSC queue for what is likely to be an easy performance win
     for (auto &row : ws_data.parsed_rows)
@@ -803,6 +832,8 @@ void xlsx_consumer::read_worksheet_sheetdata()
         }
     }
     stack_.pop_back();
+    
+    
 }
 
 worksheet xlsx_consumer::read_worksheet_end(const std::string &rel_id)
@@ -1258,6 +1289,17 @@ worksheet xlsx_consumer::read_worksheet_end(const std::string &rel_id)
             manifest.relationship(sheet_path,
                 relationship_type::printer_settings)});
     }
+    
+    for (auto array_formula : array_formulae_)
+    {
+        for (auto row : ws.range(array_formula.first))
+        {
+            for (auto cell : row)
+            {
+                cell.formula(array_formula.second);
+            }
+        }
+    }
 
     return ws;
 }
@@ -1356,10 +1398,7 @@ bool xlsx_consumer::has_cell()
 
     auto has_value = false;
     auto value_string = std::string();
-
-    auto has_formula = false;
-    auto has_shared_formula = false;
-    auto formula_value_string = std::string();
+    auto formula_string = std::string();
 
     while (in_element(qn("spreadsheetml", "c")))
     {
@@ -1372,17 +1411,56 @@ bool xlsx_consumer::has_cell()
         }
         else if (current_element == qn("spreadsheetml", "f")) // CT_CellFormula
         {
-            has_formula = true;
+            auto has_shared_formula = false;
+            auto has_array_formula = false;
+            auto is_master_cell = false;
+            auto shared_formula_index = 0;
+            auto formula_range = range_reference();
 
             if (parser().attribute_present("t"))
             {
-                has_shared_formula = parser().attribute("t") == "shared";
+                auto formula_type = parser().attribute("t");
+                if (formula_type == "shared")
+                {
+                    has_shared_formula = true;
+                    shared_formula_index = parser().attribute<int>("si");
+                    if (parser().attribute_present("ref"))
+                    {
+                        is_master_cell = true;
+                    }
+                }
+                else if (formula_type == "array")
+                {
+                    has_array_formula = true;
+                    formula_range = range_reference(parser().attribute("ref"));
+                    is_master_cell = true;
+                }
             }
 
-            skip_attributes({"aca", "ref", "dt2D", "dtr", "del1",
-                "del2", "r1", "r2", "ca", "si", "bx"});
+            skip_attributes({"aca", "dt2D", "dtr", "del1", "del2", "r1",
+                "r2", "ca", "bx"});
 
-            formula_value_string = read_text();
+            formula_string = read_text();
+            
+            if (is_master_cell)
+            {
+                if (has_shared_formula)
+                {
+                    shared_formulae_[shared_formula_index] = formula_string;
+                }
+                else if (has_array_formula)
+                {
+                    array_formulae_[formula_range.to_string()] = formula_string;
+                }
+            }
+            else if (has_shared_formula)
+            {
+                auto shared_formula = shared_formulae_.find(shared_formula_index);
+                if (shared_formula != shared_formulae_.end())
+                {
+                    formula_string = shared_formula->second;
+                }
+            }
         }
         else if (current_element == qn("spreadsheetml", "is")) // CT_Rst
         {
@@ -1401,9 +1479,9 @@ bool xlsx_consumer::has_cell()
 
     expect_end_element(qn("spreadsheetml", "c"));
 
-    if (has_formula && !has_shared_formula)
+    if (!formula_string.empty())
     {
-        cell.formula(formula_value_string);
+        cell.formula(formula_string);
     }
 
     if (has_value)
diff --git a/source/detail/serialization/xlsx_consumer.hpp b/source/detail/serialization/xlsx_consumer.hpp
index e3d6b2aa..914b76e9 100644
--- a/source/detail/serialization/xlsx_consumer.hpp
+++ b/source/detail/serialization/xlsx_consumer.hpp
@@ -45,6 +45,7 @@ class manifest;
 template<typename T>
 class optional;
 class path;
+class range_reference;
 class relationship;
 class streaming_workbook_reader;
 class variant;
@@ -417,6 +418,9 @@ private:
     bool streaming_ = false;
 
     std::unique_ptr<detail::cell_impl> streaming_cell_;
+    
+    std::unordered_map<int, std::string> shared_formulae_;
+    std::unordered_map<std::string, std::string> array_formulae_;
 
     detail::worksheet_impl *current_worksheet_;
     number_serialiser converter_;
diff --git a/source/worksheet/range.cpp b/source/worksheet/range.cpp
index f8b9685d..dcccb826 100644
--- a/source/worksheet/range.cpp
+++ b/source/worksheet/range.cpp
@@ -132,12 +132,9 @@ const cell_vector range::vector(std::size_t vector_index) const
     return cell_vector(ws_, cursor, ref_, order_, skip_null_, false);
 }
 
-bool range::contains(const cell_reference &ref)
+bool range::contains(const cell_reference &cell_ref)
 {
-    return ref_.top_left().column_index() <= ref.column_index()
-        && ref_.bottom_right().column_index() >= ref.column_index()
-        && ref_.top_left().row() <= ref.row()
-        && ref_.bottom_right().row() >= ref.row();
+    return ref_.contains(cell_ref);
 }
 
 range range::alignment(const xlnt::alignment &new_alignment)
diff --git a/source/worksheet/range_reference.cpp b/source/worksheet/range_reference.cpp
index 52914634..63da6a6c 100644
--- a/source/worksheet/range_reference.cpp
+++ b/source/worksheet/range_reference.cpp
@@ -145,6 +145,14 @@ cell_reference range_reference::bottom_right() const
     return bottom_right_;
 }
 
+bool range_reference::contains(const cell_reference &ref) const
+{
+    return top_left_.column_index() <= ref.column_index()
+        && bottom_right_.column_index() >= ref.column_index()
+        && top_left_.row() <= ref.row()
+        && bottom_right_.row() >= ref.row();
+}
+
 bool range_reference::operator==(const std::string &reference_string) const
 {
     return *this == range_reference(reference_string);
diff --git a/tests/data/18_formulae.xlsx b/tests/data/18_formulae.xlsx
new file mode 100644
index 00000000..a9077d63
Binary files /dev/null and b/tests/data/18_formulae.xlsx differ
diff --git a/tests/workbook/serialization_test_suite.cpp b/tests/workbook/serialization_test_suite.cpp
index 14d27f24..10dbb4fd 100644
--- a/tests/workbook/serialization_test_suite.cpp
+++ b/tests/workbook/serialization_test_suite.cpp
@@ -23,31 +23,7 @@
 
 #include <iostream>
 
-#include <xlnt/cell/cell.hpp>
-#include <xlnt/cell/comment.hpp>
-#include <xlnt/cell/hyperlink.hpp>
-#include <xlnt/styles/border.hpp>
-#include <xlnt/styles/fill.hpp>
-#include <xlnt/styles/font.hpp>
-#include <xlnt/styles/format.hpp>
-#include <xlnt/styles/number_format.hpp>
-#include <xlnt/styles/style.hpp>
-#include <xlnt/utils/date.hpp>
-#include <xlnt/utils/datetime.hpp>
-#include <xlnt/utils/time.hpp>
-#include <xlnt/utils/timedelta.hpp>
-#include <xlnt/utils/variant.hpp>
-#include <xlnt/workbook/metadata_property.hpp>
-#include <xlnt/workbook/streaming_workbook_reader.hpp>
-#include <xlnt/workbook/streaming_workbook_writer.hpp>
-#include <xlnt/workbook/workbook.hpp>
-#include <xlnt/worksheet/column_properties.hpp>
-#include <xlnt/worksheet/header_footer.hpp>
-#include <xlnt/worksheet/row_properties.hpp>
-#include <xlnt/worksheet/sheet_format_properties.hpp>
-#include <xlnt/worksheet/worksheet.hpp>
-#include <detail/cryptography/xlsx_crypto_consumer.hpp>
-#include <detail/serialization/vector_streambuf.hpp>
+#include <xlnt/xlnt.hpp>
 #include <helpers/path_helper.hpp>
 #include <helpers/temporary_file.hpp>
 #include <helpers/test_suite.hpp>
@@ -62,7 +38,7 @@ public:
         register_test(test_produce_simple_excel);
         register_test(test_save_after_sheet_deletion);
         register_test(test_write_comments_hyperlinks_formulae);
-        register_test(test_save_after_clear_all_formulae);
+        register_test(test_save_after_clear_formula);
         register_test(test_load_non_xlsx);
         register_test(test_decrypt_agile);
         register_test(test_decrypt_libre_office);
@@ -304,21 +280,20 @@ public:
         xlnt_assert(workbook_matches_file(wb, path));
     }
 
-    void test_save_after_clear_all_formulae()
+    void test_save_after_clear_formula()
     {
         xlnt::workbook wb;
-        const auto path = path_helper::test_file("10_comments_hyperlinks_formulae.xlsx");
+        const auto path = path_helper::test_file("18_formulae.xlsx");
         wb.load(path);
 
         auto ws1 = wb.sheet_by_index(0);
-        xlnt_assert(ws1.cell("C1").has_formula());
-        xlnt_assert_equals(ws1.cell("C1").formula(), "CONCATENATE(C2,C3)");
-        ws1.cell("C1").clear_formula();
-
-        auto ws2 = wb.sheet_by_index(1);
-        xlnt_assert(ws2.cell("C1").has_formula());
-        xlnt_assert_equals(ws2.cell("C1").formula(), "C2*C3");
-        ws2.cell("C1").clear_formula();
+        for (auto row : ws1)
+        {
+            for (auto cell : row)
+            {
+                cell.clear_formula();
+            }
+        }
 
         wb.save("clear_formulae.xlsx");
     }
@@ -425,20 +400,41 @@ public:
     void test_read_formulae()
     {
         xlnt::workbook wb;
-        const auto path = path_helper::test_file("10_comments_hyperlinks_formulae.xlsx");
+        const auto path = path_helper::test_file("18_formulae.xlsx");
         wb.load(path);
 
         auto ws1 = wb.sheet_by_index(0);
-        xlnt_assert(ws1.cell("C1").has_formula());
-        xlnt_assert_equals(ws1.cell("C1").formula(), "CONCATENATE(C2,C3)");
-        xlnt_assert_equals(ws1.cell("C2").value<std::string>(), "a");
-        xlnt_assert_equals(ws1.cell("C3").value<std::string>(), "b");
+        
+        // test has_formula
+        // A1:B3 are plain text cells
+        // C1:G3,I2,F4 have formulae
+        for (auto row = 1; row < 4; row++)
+        {
+            for (auto column = 1; column < 8; column++)
+            {
+                if (column < 3)
+                {
+                    xlnt_assert(!ws1.cell(column, row).has_formula());
+                }
+                else
+                {
+                    xlnt_assert(ws1.cell(column, row).has_formula());
+                }
+            }
+        }
 
-        auto ws2 = wb.sheet_by_index(1);
-        xlnt_assert(ws2.cell("C1").has_formula());
-        xlnt_assert_equals(ws2.cell("C1").formula(), "C2*C3");
-        xlnt_assert_equals(ws2.cell("C2").value<int>(), 2);
-        xlnt_assert_equals(ws2.cell("C3").value<int>(), 3);
+        xlnt_assert(ws1.cell("I2").has_formula());
+        xlnt_assert(ws1.cell("F4").has_formula());
+
+        xlnt_assert(!ws1.cell("C9").has_formula()); // empty cell
+        xlnt_assert(!ws1.cell("F5").has_formula()); // text cell
+        
+        xlnt_assert_equals(ws1.cell("C1").formula(), "B1^2"); // basic math with reference
+        xlnt_assert_equals(ws1.cell("D1").formula(), "CONCATENATE(A1,B1)"); // concat with ref
+        xlnt_assert_equals(ws1.cell("E1").formula(), "CONCATENATE($C$1,$D$1)"); // concat with absolute ref
+        xlnt_assert_equals(ws1.cell("F1").formula(), "1+1"); // basic math
+        xlnt_assert_equals(ws1.cell("G1").formula(), "PI()"); // constant
+        xlnt_assert_equals(ws1.cell("I2").formula(), "COS(C2)+IMAGINARY(SIN(B2))"); // fancy math
     }
 
     void test_read_headers_and_footers()
@@ -657,7 +653,7 @@ public:
     {
         xlnt_assert(round_trip_matches_rw(path_helper::test_file("13_custom_heights_widths.xlsx")));
     }
-
+    
     void test_round_trip_rw_encrypted_agile()
     {
         xlnt_assert(round_trip_matches_rw(path_helper::test_file("5_encrypted_agile.xlsx"), "secret"));