WPS Office Spreadsheets is not Excel, and pretending otherwise would do you a disservice. For the kind of heavy formula work you describe, nested functions, array operations, cross-sheet dependencies, the honest answer is that WPS handles the vast majority of common Excel functions with surprising fidelity. But "vast majority" is not "all," and that distinction matters when your workflow depends on edge cases.
The practical reality is this: if your spreadsheets rely on modern Excel functions like XLOOKUP, LET, LAMBDA, or dynamic array formulas, you will encounter gaps. WPS supports the core library, VLOOKUP, IF, SUMIFS, INDEX-MATCH, pivot tables, conditional formatting, and it does so reliably. Files you open in WPS will retain their structure, formatting, and formula logic in almost every standard scenario. The trouble begins with the newer, more expressive functions that Microsoft has added in recent versions. WPS has been closing that gap, but it is not a one-to-one match. A spreadsheet built around XLOOKUP with nested LET statements may require manual rework.
Compatibility, however, is a different story. When you open an existing Excel file in WPS, the formulas and formatting come through intact for the vast majority of cases. The risk is not that your file will break entirely, but that a specific function you rely on may either return a different result or fail silently. That is the kind of failure you only discover when a quarterly report comes up short. For users who maintain large, interconnected workbooks with custom macros or VBA scripts, the compatibility picture dims further, WPS does not support VBA natively, and its own scripting language is not a drop-in replacement.
Our view is straightforward: WPS Office Spreadsheets is a capable tool for most spreadsheet work, but it is not a replacement for Excel if your work lives in the advanced formula frontier. If your formula usage stays within the bounds of what Excel offered ten years ago, you will likely feel no difference. If you are pushing Excel's newer capabilities, test your most critical files in WPS before committing. Open your three most complex workbooks, run your heaviest calculations, and check every result against Excel's output. That is the only way to know if the switch works for you.