Bond Yield Calculator (Current Yield & YTM)
Calculate a bond's current yield and yield to maturity (YTM) from its price, coupon rate, face value and years to maturity.
For information and education only — not financial advice. Results are estimates based on the numbers you enter; check important decisions with a qualified professional.
How to use
- 1Enter the bond's price, face value and annual coupon rate.
- 2Enter the years to maturity and how often coupons are paid.
How it's calculated
Current yield = annual coupon ÷ price. YTM is the rate that makes the present value of all coupons and the face value equal the price (solved numerically; quoted as an annual rate).
Frequently asked questions
Why does yield rise when a bond's price falls?
The coupon payments are fixed, so paying less for the same payments means a higher return.
What's the difference between current yield and YTM?
Current yield ignores the gain or loss at maturity; YTM includes it and assumes coupons are reinvested at the same rate.
Is price quoted per $100 or $1,000?
Bond prices are often quoted as a percentage of face (e.g. 95 = 95%). Enter price and face in the same units.