Daily DAX : Day 428 COUPNUM

Power BI DAX Function: COUPNUM

The COUPNUM function in DAX (Data Analysis Expressions) is a financial function used in Power BI, Analysis Services, and Power Pivot. It calculates the number of coupon payments (interest payments) payable on a bond or security between the settlement date and the maturity date.

Syntax

COUPNUM(<settlement>, <maturity>, <frequency> [, <basis>])

Parameters

Parameter Description
<settlement> The security's settlement date (the date the buyer purchases the bond). Must be a valid date.
<maturity> The security's maturity date (the date when the bond expires).
<frequency> The number of coupon payments per year:
1 = Annual
2 = Semi-annual
4 = Quarterly
<basis> (optional) The day count basis (default is 0 if omitted):
0 = US (NASD) 30/360
1 = Actual/actual
2 = Actual/360
3 = Actual/365
4 = European 30/360

Return Value

An integer representing the number of coupons payable between the settlement date and maturity date. The result is rounded up to the nearest whole coupon.

Example

COUPNUM(DATE(2025, 1, 25), DATE(2030, 11, 15), 2, 1)

This example calculates the number of semi-annual coupon payments (frequency = 2) for a bond settled on January 25, 2025, maturing on November 15, 2030, using actual/actual day count basis.

Use Case

COUPNUM is primarily used in financial modeling and analysis of fixed-income securities like bonds. It helps determine how many interest (coupon) payments an investor will receive after purchasing a bond until it matures.

  • Calculating total interest income from bonds in a portfolio.
  • Valuing bonds or computing accrued interest (often combined with other functions like COUPNCD, COUPPCD, or ACCRINT).
  • Financial reporting, treasury management, or investment analysis in Power BI dashboards.

Notes

  • Dates in DAX are stored as serial numbers (December 30, 1899 = day 0).
  • If settlement date ≥ maturity date, the function returns an error.
  • This function mirrors the Excel COUPNUM function and is useful for migrating financial models to Power BI.

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