Bond Yield Calculator

Current yield is simply the annual coupon divided by the bond's market price. Yield to maturity additionally accounts for any gain or loss you'll realize if the bond is trading above or below its face value, giving a fuller picture of total return.

When a bond trades at a discount (market price below face value), you gain the difference at maturity on top of the coupon payments, which pushes YTM above the stated coupon rate.

Yes, the yield math is the same regardless of issuer — enter the specific bond's face value, coupon, price, and years to maturity. For company-issued debentures specifically, the Debenture Calculator frames the same math around that instrument.

It's a standard approximation formula, which is close but not identical to the precise YTM found by solving the full present-value bond pricing equation — good for quick comparison, not for exact pricing.

The annual coupon amount, the current yield, and the approximate YTM.