Cash Conversion Cycle (CCC) Calculator
From DIO, DSO and DPO, compute the cash conversion cycle: how many days cash is tied up from buying to collecting.
輸入資料
計算結果
重點速覽：CCC = DIO + DSO - DPO. DIO = average days inventory is held; DSO = average days to collect from customers; DPO = average days you take to pay suppliers. It is the net days your cash is tied up from buying inputs to collecting sales. Shorter (or negative) is better — cash turns faster and less external funding is needed. Example: DIO 30 + DSO 45 - DPO 40 = 35 days. Levers: lower DIO (faster inventory), lower DSO (faster collection), raise DPO (slower payment) — but don't strain suppliers. WARNING: A snapshot ratio; ignores seasonality and one-offs. For HK SMEs, a short CCC is vital for cash. Education, not advice.
計算公式
CCC = DSO + DIO − DPO。
$$\text{CCC} = \text{DSO} + \text{DIO} - \text{DPO}$$使用說明
- Enter DIO, DSO and DPO (in days).
- View the cash conversion cycle.
不同的 DSO、DIO、DPO 組合對應的現金轉換週期，說明加快收款/賣貨、延後付款如何縮短 CCC，甚至令其為負。
| DSO (收款天) | DIO (存貨天) | DPO (付款天) | 現金轉換週期 CCC | 解讀 |
|---|---|---|---|---|
| 50 | 100 | 60 | 90 天 | 週期偏長 |
| 40 | 60 | 50 | 50 天 | 中等 |
| 30 | 40 | 45 | 25 天 | 較短、效率佳 |
| 10 | 20 | 60 | −30 天 | 為負、現金極強勢 |
理財情境案例
個案一：CCC 為負的零售龍頭
一間香港大型連鎖零售商議價力極強：顧客幾乎全部即時付現 (DSO 約 5 天)、暢銷品周轉快 (DIO 約 40 天)、又能憑規模向供應商爭取 60 天付款期 (DPO 60 天)。
CCC = 5 + 40 − 60 = −15 天，為負值。這意味著它平均在『付錢給供應商之前 15 天，就已經把貨賣掉、收到顧客的錢』，等於用供應商的資金在做生意，幾乎不需自掏營運資金，還能把這筆現金再投入擴張或賺取利息。負 CCC 是議價力與營運效率的極致體現，也是不少零售與電商龍頭現金流強勁的秘密。
個案二：CCC 過長拖垮現金流
一間製造商 DSO 50 天、DIO 100 天、DPO 僅 60 天，CCC = 90 天。即它付款採購後，平均要等三個月現金才回籠。
這 90 天的現金缺口，公司必須自掏營運資金或借貸來墊付，若業務擴張、規模越大，這個缺口佔用的資金也越大，容易出現『帳面賺錢、現金卻很緊』的窘境。管理層可從三方面縮短 CCC：加強催收縮短 DSO、優化庫存加快 DIO、與供應商洽談更長付款期拉高 DPO。任何一環的改善，都能直接釋放被卡住的現金。
常見問題
What does the CCC mean in plain terms?
It is the number of days from when you pay for goods to when you collect cash from the sale. DIO = how long stock sits; DSO = how long customers take to pay; DPO = how long you delay paying suppliers. CCC = DIO + DSO - DPO is the net days your own cash is stuck in the cycle. Shorter means faster cash recovery and less need for borrowing.
Why is a negative CCC good?
A negative CCC means you collect from customers before you must pay suppliers (DSO + DIO < DPO). You run the business partly on suppliers' money — effectively free financing. Many retailers and fast-turn models achieve this. It is a sign of strong working-capital efficiency.
How do I shorten the CCC?
Three levers: (1) Lower DIO — better inventory management, faster turnover, less dead stock. (2) Lower DSO — faster invoicing, stricter credit terms, active collection (see the A/R days and average collection period calculators). (3) Raise DPO — negotiate longer supplier terms, but without harming the relationship or incurring late fees. Improving any of the three shortens the cycle.
Does a short CCC always mean healthy?
Mostly yes for cash efficiency, but not absolutely. Too-low DIO risks stockouts and lost sales; too-low DSO may mean overly strict credit that hurts growth; too-high DPO can sour supplier ties and lose early-payment discounts. Balance the three with the business strategy; the CCC is a tool, not a target to minimise at all costs.
Any Hong Kong notes?
Hong Kong SMEs often run on tight cash, so monitoring the CCC helps avoid liquidity gaps. Pair it with receivables/payables turnover and the working-capital calculator; the HKPC and HKTDC offer SME support. The CCC is a ratio, not a cash-flow forecast — use the cash-flow statement for actual liquidity. Education, not advice.
相關工具
參考資料
內容審核：香港計算器財經團隊。計算邏輯與公式參考香港金融管理局（HKMA）及投資者及理財教育委員會（IFEC）之個人理財計算指引，結果僅供參考，實際以相關機構公佈為準。