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The #DIV/0! error occurs when a number is divided by 0 in Excel. It also shows up when a cell contains no value or is empty and you have applied a division formula.
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Troubleshooting Common Excel Errors: #DIV/0!, #REF!, and More - MSN

Knowing how to fix common Excel errors like #DIV/0!, #REF!, and #NUM! can help you quickly resolve problems and save valuable time while working on your spreadsheets.
Why is Excel not calculating division correctly? Excel formulas are not calculating properly as there must have been some mistake you made when entering the numbers in the cell.
Learn how to prevent costly Excel errors with our comprehensive formula checklist. Ensure accuracy and reliability in your spreadsheets ...
Intermediate Tip: Get more out of Pivot Tables with calculated fields and by fixing #DIV/0 errors. Pivot tables are truly a must-have Excel skill for marketers.