Bond Yield to Maturity (YTM) Calculator
Calculate and analyze the total return expected on a bond if held until maturity, including coupon payments and price appreciation/depreciation.
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Formula Reference
YTM Calculation
P = C × (1 – (1 + r)^-n) / r + F / (1 + r)^n
Current Yield
CY = Annual Coupon / Current Price
Tax-Equivalent Yield
TEY = YTM / (1 – Tax Rate)
Real YTM
Real YTM = (1 + YTM) / (1 + Inflation) – 1
YTM Interpretation
- YTM > Coupon Rate: Bond trading at discount
- YTM = Coupon Rate: Bond trading at par
- YTM < Coupon Rate: Bond trading at premium
- Higher YTM: Higher risk, higher return
How to Use
- Enter bond details
- Input market conditions
- Click “Calculate” to analyze
- Review results and charts