Government Bond Yield Calculator

Enter a bond's face value, market price, coupon, remaining term and frequency. Solve its cash flows for exact yield to maturity and current yield.

Exact cash-flow YTMUser-entered quoteLocal & free

Bond Yield Calculator

Term × frequency must be a whole number of remaining coupon periods.
Yield to Maturity (YTM)
Current Yield
Annual Coupon Income
Net Cash Gain at Maturity
Market Price
Model: coupons arrive at equal intervals, the next coupon is one full period away, face value is repaid with the final coupon, and there is no default, tax, fee or accrued-interest adjustment. Confirm whether your quoted price is clean or dirty.

Frequently Asked Questions

Exact discounted cash flows

How yield to maturity is solved

The calculator finds the periodic discount rate that makes the present value of every remaining coupon and the final face-value payment equal the entered market price.

  • Annual YTM: periodic yield compounded by the coupon frequency.
  • Current yield: annual coupon income divided by market price.
  • Net cash gain: all coupons plus face value minus purchase price, without time-value adjustment.

YTM assumes scheduled payments and reinvestment at the solved rate. It does not capture credit, liquidity, inflation, currency, call, tax or reinvestment risk.

Why can YTM differ from the coupon rate?
The coupon is based on face value, while YTM also reflects the price paid and the gain or loss when face value is repaid at maturity.
What is current yield missing?
Current yield considers annual coupons relative to price but ignores the maturity payment, time remaining and the timing of individual cash flows.
Does this handle accrued interest or irregular coupons?
No. It assumes a full coupon period until the next payment and equal periods through maturity. Use the settlement convention and cash-flow schedule in the official instrument terms for a trade calculation.