Calculadora de bonos

Calculate bond price from yield, or yield to maturity from price. See current yield, duration, and cash flows.

Tus detalles

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Choose Bond Price or Yield (YTM), enter face value, coupon rate, years, and either YTM or current price. Click Calculate.

Guía de usuario completa

What is the Bond Calculator?

This calculator helps you determine a bond's fair price given its yield to maturity (YTM), or its yield to maturity given its current market price. Bonds are fixed-income securities that pay periodic coupons and return the face value at maturity. Understanding price and yield is essential for comparing bonds and making investment decisions.

Bond Price = PV(Coupons) + PV(Face Value)

You can choose to calculate either the bond price (from a given YTM) or the YTM (from a given price). Results include current yield, Macaulay and modified duration, income summary, and a cash flow schedule. Payment frequency can be annual, semi-annual, or quarterly.

Conceptos clave

Bond Price

The present value of all future coupon payments plus the face value (par) at maturity, discounted at the yield to maturity. When market rates rise, bond prices fall, and vice versa.

Yield to Maturity (YTM)

The annualized return you would earn if you hold the bond to maturity and reinvest all coupon payments at the same rate. YTM is the discount rate that makes the bond's cash flows equal to its current price.

Current Yield

Annual coupon income divided by the current bond price. It is a simpler measure than YTM and does not account for capital gain or loss at maturity or reinvestment of coupons.

Duración

Macaulay duration is the weighted average time until you receive the bond's cash flows. Modified duration approximates the percentage change in bond price for a 1% change in yield. Higher duration means greater price sensitivity to interest rate changes.

Premium vs. Discount

A bond trades at a premium when its price is above face value (par); at a discount when below par. When the coupon rate is above the YTM, the bond trades at a premium; when below, at a discount.

Cómo utilizar esta calculadora

  1. Select what you want to calculate: Bond Price (from YTM) or Yield to Maturity (from current price).
  2. Enter the face value (par value) of the bond in dollars.
  3. Enter the coupon rate (annual) and years to maturity.
  4. Choose payment frequency: Annual, Semi-Annual, or Quarterly.
  5. For Bond Price: enter the yield to maturity (%). For YTM: enter the current bond price ($).
  6. Click Calculate to see the main result, key metrics, breakdown chart (for price), income summary, and cash flow schedule.
  7. Review the Complete User Guide below for interpretation and formulas.

Comprender sus resultados

Main Result (Bond Price or YTM)

The primary output: either the calculated bond price in dollars or the yield to maturity in percent, depending on the mode you selected.

Status Badge (Premium / Discount / Par)

Indicates whether the bond is trading above par (Premium), below par (Discount), or at par. This helps you quickly see the relationship between price and face value.

Current Yield & YTM

Current yield is coupon income divided by price. YTM is the full annualized return to maturity. For bonds trading at a discount, YTM is higher than current yield; at a premium, YTM is lower.

Macaulay & Modified Duration

Macaulay duration is in years. Modified duration (shown for price mode) approximates the percentage price change for a 1% move in yield. Use it to assess interest rate risk.

Income Summary & Cash Flow Schedule

Income summary shows annual coupon, total coupons over life, principal at maturity, and total return. The cash flow schedule lists each period's coupon, principal (if at maturity), and present value (for price mode).

Comprender los gráficos

Price Breakdown Chart

Shown when you calculate Bond Price. It is a doughnut chart that splits the bond price into two parts: the present value of all coupon payments and the present value of the face value at maturity. This illustrates how much of the price comes from income vs. principal.

Bond Price Formulas

The bond price is the sum of the present values of all future cash flows, discounted at the periodic yield (YTM per period):

PV of coupon payments (annuity):

PV_coupons = C × [1 − (1 + r)^(−n)] / r

C = coupon per period, r = periodic yield, n = number of periods

PV of face value:

PV_face = F / (1 + r)^n

F = face value. Bond Price = PV_coupons + PV_face.

Notas importantes

  • This calculator is for educational and estimation purposes only. It is not a substitute for professional financial advice.
  • Yield and coupon rate are entered in percent (e.g., 5 for 5%). Face value and bond price are in dollars.
  • The calculator assumes a flat yield curve, no default risk, and that coupons are paid on schedule. Real bonds may have call features, credit risk, or different day-count conventions.
  • For important investment decisions, consult a qualified financial advisor or bond professional.

Tips for Using the Calculator

  • Use semi-annual frequency for most US corporate and Treasury bonds (two coupon payments per year).
  • Switch between Bond Price and YTM mode to see how changes in yield affect price and vice versa.
  • Higher duration means the bond's price is more sensitive to interest rate changes.

Payment Frequency Reference

Number of coupon payments per year:

  • Annual = 1 payment per year
  • Semi-Annual = 2 payments per year (most common in the US)
  • Quarterly = 4 payments per year

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