Try it!
Microsoft Excel doesn’t come with a built-in watermark button. But you can use an image, like a logo, to create a watermark.
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Select Insert > Header & Footer.
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Tap a section of the header and select Picture.
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Find and Insert your image. In the header, you’ll see & Picture.
This means there’s a picture in the header. Tap anywhere outside the header to close the header and you’ll see watermark behind the data. If you don't like the look of the image or need to edit your image so it's less bold.
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Tap back into the header and select Format Picture.
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Select Picture > Color > Washout to change the look of the image. Grayscale may also work well.
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Select OK.