Estimate current yield and yield to maturity for a conventional fixed-coupon bond. Enter your own values below. The calculator shows the formula it uses, a graph and a step-by-step explanation of the result.
Also searched as: YTM, yield to maturity, current yield, bond
How the calculation works
Formula
Price = Σ[Coupon / (1 + y)^t] + Face Value / (1 + y)^n; YTM = Periodic y × Coupon Frequency
Current yield is annual coupons divided by purchase price. YTM also includes face-value redemption, assumes fixed coupons and reinvestment at YTM, and excludes default, taxes, and transaction costs.
What you enter
- Face value
- Market purchase price
- Annual coupon rate (%)
- Years to maturity
- Coupon payment frequency
- Display currency (formatting only — no exchange-rate conversion)
What the results show
- Yield to maturity (nominal annual)
- Current yield
- Annual coupon payment
- Total coupon payments remaining
- Face value minus purchase price
Results are estimates based only on the values and assumptions you enter. Open the detailed analysis to see the graph, the step-by-step story and the stated assumptions, and use the report menu to print, save as PDF, export a schedule to CSV or share the inputs.
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When to use this calculator
What yield does this bond offer at its current price? Fixed-income investors can use it to get a quick estimate from their own figures.
Worked example
A 10-year bond with a face value of 1,000, a 5% annual coupon and a price of 950 has a yield to maturity of about 5.67%.
Illustrative figures in any currency. Enter your own values in the calculator above.
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