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Bond Calculator

Calculate a bond's price from its yield, or its yield to maturity (YTM) from its price. Shows current yield, coupon and duration. Free bond calculator.

Bond price
925.61
Yield to maturity
6%
Current yield
5.402%
Coupon payment
25.00
Discount
74.39
Macaulay duration
7.89 years
Modified duration
7.67

Bond prices and yields move in opposite directions

A bond's price is the present value of its coupons and its face value, discounted at the market yield. When market yields rise above the coupon rate, the price falls below face value, and the other way round. A $1,000 bond with a 5% coupon paid twice a year and 10 years left is worth $925.61 when the market yields 6%. Yield to maturity is the reverse: the return you'd earn buying at a given price and holding to maturity. Duration shows how sensitive the price is to rate changes.

How to use it

  1. 1

    Choose the calculation

    Price from yield, or yield from price.

  2. 2

    Enter the bond details

    Face value, coupon rate, years to maturity and payment frequency.

  3. 3

    Read the result

    Price or YTM, current yield and duration.

Frequently asked questions

What is yield to maturity?

The yearly return if you buy at today's price and hold the bond until it matures, with coupons reinvested at the same rate.

What is current yield?

Yearly coupon ÷ price. It ignores the gain or loss at maturity.

What does duration tell me?

Roughly how much the price changes for a 1% change in yields. A modified duration of 7.7 means about a 7.7% price drop if yields rise 1%.

Is anything stored?

No. The calculation runs in your browser.

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