According to the Salesforce limits cheatsheet, there is a limit of 10 on "VLOOKUP Functions in Formulas" and also a limit of 10 on "Number of Unique Relationships Per Object in Formulas". It appears that there is no limit on number of formula fields on an object.
According to the Salesforce limits cheatsheet, there is a limit of 10 on "VLOOKUP Functions in Formulas" and also a limit of 10 on "Number of Unique Relationships Per Object in Formulas". It appears that there is no limit on number of formula fields on an object.