The TIMEVALUE Function is to return the decimal number of the time represented by a text string. The decimal number ranges from 0 (12:00:00 am) to 0.999988426 (23:59:59 pm).
Time_text is required. A text string that represents a time in the Excel time formats; for example, "10:00 PM" text strings within quotation marks that represent time.
– Date is ignored in the TIMEVALUE function;
– Time value is a portion of a date value that has 24 hours (e.g., 12pm is represented as 0.5 because it is half of a day).