Days Payable Outstanding (DPO) Calculator
From accounts payable and cost of goods sold, compute how many days a company takes to pay suppliers (DPO).
輸入資料
計算結果
重點速覽：DPO = accounts payable / COGS x period days (365 for a year). It shows the average days to pay suppliers. Higher = hold cash longer (interest-free financing, better liquidity); lower = pay faster. But over-stretching harms supplier ties and may forgo early-pay discounts. Right level depends on industry and bargaining power. WARNING: DPO alone doesn't show forgone discounts or strained relations; compare within industry. Education, not advice.
計算公式
DPO = 應付帳款 ÷ 銷貨成本 × 期間天數。
$$DPO = \dfrac{\text{應付帳款}}{\text{銷貨成本}} \times \text{期間天數}$$$$CCC = DSO + DIO - DPO$$使用說明
- Enter accounts payable at period end.
- Enter COGS for the same period.
- Enter the period days (365 for a year) for DPO.
年銷貨成本固定為 HK$2,190,000 (365 天) 時，不同應付帳款對應的 DPO
| 應付帳款 | 年銷貨成本 | 應付帳款周轉天數 (DPO) | 解讀 |
|---|---|---|---|
| HK$180,000 | HK$2,190,000 | 30 天 | 付款快，未充分善用商業信用 |
| HK$270,000 | HK$2,190,000 | 45 天 | 偏短 |
| HK$360,000 | HK$2,190,000 | 60 天 | 中等，常見信用期水平 |
| HK$450,000 | HK$2,190,000 | 75 天 | 偏長，善用供應商資金 |
| HK$540,000 | HK$2,190,000 | 90 天 | 付款慢，留意供應商關係 |
理財情境案例
案例一：由 DPO 看付款節奏
一家零售商年銷貨成本 HK$2,190,000，應付帳款 HK$360,000。DPO = 360,000 ÷ 2,190,000 × 365 = 60 天，代表平均約 60 天才付清一筆採購欠款。
若供應商給的信用期是 60 天，則公司剛好用足信用期、既善用免息資金又未拖欠;若信用期只有 30 天而 DPO 達 60 天，則屬超期付款，可能已影響供應商關係或錯失折扣。
結論：DPO 對照供應商給的信用期，能判斷公司是「善用信用」還是「拖欠付款」。
案例二：延長 DPO 縮短現金轉換週期
某公司 DSO = 50 天、DIO = 100 天、DPO = 30 天 (應付帳款 HK$180,000)，則 CCC = 50 + 100 − 30 = 120 天，須自墊 120 天營運資金。
管理層與供應商談妥把信用期延長到 75 天，應付帳款升至 HK$450,000、DPO = 75 天。新 CCC = 50 + 100 − 75 = 75 天，一舉縮短 45 天的資金墊付。
結論：延長 DPO 是縮短現金轉換週期的有效槓桿，但須在「現金流利益」與「供應商關係、折扣損失」之間拿捏分寸。
常見問題
What is DPO and how is it computed?
DPO = accounts payable / COGS x period days (365 for a year). Example: AP 800,000, annual COGS 6,000,000, 365 days → (800,000/6,000,000)x365 ≈ 48.7 days. It tells how long, on average, you take to pay suppliers.
Is a higher DPO better?
Within reason, yes — delaying payment keeps cash for operations (interest-free supplier credit) and eases short-term liquidity. But too high strains supplier relationships, risks supply disruption, and may forgo early-payment discounts (often worth more than the financing). Balance cash needs against relationship health.
How does DPO relate to the cash conversion cycle?
CCC = DIO + DSO - DPO. DPO is the only 'lengthening' term — the longer you pay suppliers, the shorter the cycle and the less working capital tied up. So managing DPO (and DIO, DSO) is how firms optimise the cash conversion cycle.
What are the Hong Kong SME implications and caveats?
HK SMEs often lack bargaining power; payment terms (net 30/60/90) directly affect cash flow. Stretching suppliers can ease short-term pressure but risks relationships and discounts. The HKTDC and HKPC advise balancing; the SME Financing Guarantee Scheme can ease周转. Caveats: (1) DPO doesn't show forgone discounts; (2) compare within industry; (3) use consistent period; (4) watch whether 'AP' includes only trade payables. Education, not advice.
How does DPO relate to the cash conversion cycle?
The Cash Conversion Cycle (CCC) = DIO + DSO - DPO. DIO and DSO are 'money tied up' (inventory, receivables); DPO is 'money delayed' (payables). Only DPO reduces the cycle, so lengthening payment shortens CCC and frees working capital. But DPO has a ceiling — over-stretch and you hurt suppliers and lose discounts. The art is optimising all three together, not maximising DPO alone.
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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。