Bond Yield to Maturity Calculator
Finds the yield a bond offers at a given price.
Yield to maturity
— %
Share sends a link that reopens these numbers. Copy details pastes the full breakdown as a list.
Current yield — %
Gain or loss at maturity —
Reading this —
The formula
find y where price = Σ coupon ÷ (1 + y)^t + face ÷ (1 + y)^n
There is no direct formula, so it is solved numerically, with y the yearly yield ÷ coupons per year. It assumes you hold to maturity, that coupons are reinvested at the same yield, and that the bond does not default.
What to watch out for
Current yield only looks at coupons. Yield to maturity also counts the gain or loss on repayment.
Frequently Asked Questions
What is the difference between current yield and YTM?
Current yield is coupon ÷ price. YTM also includes the gain or loss when the bond repays, so it is the fuller measure.