{"id":6853,"date":"2025-07-15T13:34:48","date_gmt":"2025-07-15T13:34:48","guid":{"rendered":"https:\/\/functiontranslator.com\/rendement-titre\/"},"modified":"2021-02-26T08:16:38","modified_gmt":"2021-02-26T08:16:38","slug":"yield","status":"publish","type":"post","link":"https:\/\/functiontranslator.com\/fr\/yield\/","title":{"rendered":"RENDEMENT.TITRE"},"content":{"rendered":"

L’analyse financi\u00e8re requiert souvent de calculer le rendement des investissements en valeurs mobili\u00e8res, comme des obligations. Microsoft Excel et Google Sheets offrent une fonction tr\u00e8s utile pour cela, appel\u00e9e YIELD<\/code> dans Excel et RENDEMENT.TITRE<\/code> dans Google Sheets. Ce tutoriel explique comment utiliser cette fonction pour d\u00e9terminer le rendement jusqu’\u00e0 l’\u00e9ch\u00e9ance d’une obligation. <\/p>\n

Syntaxe de la Fonction<\/h2>\n

La fonction prend les arguments suivants : <\/p>\n

  YIELD(taux_r\u00e9el, taux_nominal, PV, FV, fr\u00e9quence_de_paiement, type) <\/code> <\/pre>\n
    \n
  • taux_r\u00e9el<\/strong> : Taux d’int\u00e9r\u00eat effectif par p\u00e9riode de l’obligation.<\/li>\n
  • taux_nominal<\/strong> : Taux d’int\u00e9r\u00eat nominal annuel de l’obligation.<\/li>\n
  • PV<\/strong> : Prix actuel (valeur pr\u00e9sente) de l’obligation.<\/li>\n
  • FV<\/strong> : Valeur nominale ou valeur \u00e0 maturit\u00e9 de l’obligation.<\/li>\n
  • fr\u00e9quence_de_paiement<\/strong> : Nombre de paiements d’int\u00e9r\u00eats par an.<\/li>\n
  • type<\/strong> : Mode de comptage des jours pour le paiement des int\u00e9r\u00eats (0 = 360 jours, 1 = nombre exact de jours).<\/li>\n<\/ul>\n
    Exemples d’Utilisation<\/h2>\n
     Examinons deux cas pratiques pour illustrer l’utilisation de cette fonction. <\/p>\n
    Cas Pratique 1: Calcul du Rendement d’une Obligation Classique<\/h3>\n
    Dans cet exemple, une obligation avec les caract\u00e9ristiques suivantes est consid\u00e9r\u00e9e :<\/p>\n
      \n
    • Taux nominal annuel : 5%<\/li>\n
    • Prix d’achat : 950\u20ac<\/li>\n
    • Valeur \u00e0 maturit\u00e9 : 1000\u20ac<\/li>\n
    • Fr\u00e9quence des paiements d’int\u00e9r\u00eat : Annuelle<\/li>\n
    • Type de comptage des jours : 360 jours (type 0)<\/li>\n<\/ul>\n
      Voici comment nous pourrions calculer son rendement \u00e0 l’\u00e9ch\u00e9ance :<\/p>\n
        =YIELD(0.05, 950, 1000, 1, 0) <\/code> <\/pre>\n
      Cette formule renverrait le rendement annuel de l’obligation jusqu’\u00e0 sa maturit\u00e9.<\/p>\n
      Cas Pratique 2: Obligation avec Paiements Semestriels<\/h3>\n
      Consid\u00e9rons une obligation dont le prix d’achat est de 980\u20ac, avec une valeur \u00e0 maturit\u00e9 de 1000\u20ac, un taux nominal de 7%, des paiements semestriels, et un calcul bas\u00e9 sur le nombre exact de jours (type 1).<\/p>\n
        =YIELD(0.07\/2, 980, 1000, 2, 1) <\/code> <\/pre>\n
      La formule ci-dessus divise le taux nominal par 2 parce que les int\u00e9r\u00eats sont pay\u00e9s deux fois par an. Elle calcule le rendement effectif pour chaque semestre, puis annualise ce rendement.<\/p>\n
       L’utilisation de YIELD<\/code> ou RENDEMENT.TITRE<\/code> peut \u00eatre tr\u00e8s b\u00e9n\u00e9fique dans l’analyse de portefeuille, permettant aux investisseurs de comparer efficacement les obligations de caract\u00e9ristiques diff\u00e9rentes et d’optimiser leurs choix d’investissements. <\/p>\n","protected":false},"excerpt":{"rendered":"
      CalCule le rendement d\u2019un titre rapportant des int\u00e9r\u00eats p\u00e9riodiquement<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[311],"tags":[],"class_list":["post-6853","post","type-post","status-publish","format-standard","hentry","category-finances"],"acf":[],"yoast_head":"\nFonction YIELD (RENDEMENT.TITRE) dans Excel : comment \u00e7a marche, exemples et syntaxe<\/title>\n<meta name=\"description\" content=\"Pr\u00e9sentation de la fonction YIELD (RENDEMENT.TITRE) d\u2019Excel et Google Sheets. 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