Financial Calculators
Bond Yield Calculator
Calculate Yield to Maturity (YTM) and Current Yield from bond price, face value, coupon rate, years to maturity, and payment frequency locally in your browser.
Enter the bond's current price, face value, annual coupon rate, years to maturity, and coupon payment frequency to calculate Yield to Maturity (YTM) and Current Yield. This calculator runs privately in your browser; your numbers are not uploaded or stored.
Find the true yield of a bond investment.
Enter the bond's current market price, face value (par), annual coupon rate, years to maturity, and coupon payment frequency. The calculator computes Yield to Maturity (YTM) using an iterative Newton-Raphson method and Current Yield (annual coupon divided by price). YTM reflects the total return if the bond is held to maturity with all coupons reinvested at the same rate; Current Yield reflects only the income component. This private browser estimate assumes a constant rate and does not account for taxes, fees, call provisions, or credit risk; it is not financial, investment, or tax advice. Your values are not uploaded or stored.
Frequently Asked Questions
Everything you need to know about this tool, how it works, and privacy.
What is Yield to Maturity (YTM)?
Yield to Maturity is the total annualized return an investor earns by holding a bond until maturity, assuming all coupon payments are reinvested at the same rate. It accounts for the bond's current price, face value, coupon payments, and time to maturity.
How is Current Yield different from YTM?
Current Yield is simply the annual coupon payment divided by the bond's current price. It reflects only the income component and ignores capital gains or losses from price differences relative to face value, as well as reinvestment assumptions. YTM includes all these factors.
What payment frequencies are supported?
Annual (1), semi-annual (2), quarterly (4), and monthly (12) coupon payments. Choose the frequency that matches the bond's actual coupon schedule; most corporate and government bonds pay semi-annually.
How accurate is the YTM calculation?
The calculator uses the Newton-Raphson method starting from an analytical approximation, iterating until the present value matches the entered price within $0.01. For typical bonds, this converges to a precise result in a few iterations. Extreme inputs (very high coupons, deep discounts, or very long maturities) may take more iterations or hit the iteration limit.
Do my bond details leave my browser?
No. The calculation and copy action run locally in your browser. CodeASystem does not upload or store the values you enter.