Redox flow batteries (RFBs) are a promising technology for large-scale energy storage. Rapid research developments in RFB chemistries, materials and devices have laid critical foundations for cost-effective and long-lasting RFB systems. However, the lack of consistency in testing methods and assessment metrics makes it challenging to compare reported RFBs and evaluate their potential for practical applications. Here we discuss RFB assessment methods and performance metrics in direct relation to their working principles and degradation mechanisms. We first introduce basic cell attributes and performance metrics and describe common misconceptions in testing and performance comparison. We discuss major RFB decay mechanisms and highlight bottlenecks in organic, inorganic and solid-hybrid RFBs. Testing protocols, reporting practices and comparison criteria are proposed under a general framework of symmetric and asymmetric full RFBs. These recommendations can be broadly applied to a wide range of flow battery chemistries to facilitate future benchmarking and RFB development.