Valuation + Options Snapshot
ADBE
$275.22 · 52-week range $190.12 – $370.86 · as of 2026-08-22
Value
Cheap
Volatility setup
Premium-rich
What the numbers show
- P/E 15.7× vs 5y median 40.0× — 60.7% below its own history.
- FCF yield 9.4% — rich.
- Dividend yield 0.02% — well covered by TTM FCF (517.2×).
- YoY growth — revenue +11.5%, EPS +12.0%, FCF +8.9%.
- Share count down 9.7% over 8 quarters — meaningful buyback.
- ATM IV 71.5% vs trailing realized vol 39.3% — +32.2 vol points premium (premium-rich for sellers).
- Liquid chain — ATM-band put OI 19,475.
Current P/E
15.7×
5y median P/E
40.0×
vs 5y median
-60.7%
FCF yield
9.40%
Dividend yield
0.02%
Coverage (FCF / div)
517.2×
Revenue YoY
+11.5%
EPS YoY
+12.0%
FCF YoY
+8.9%
Shares Δ (8 quarters)
-9.7%
ATM implied vol
71.5%
Realized vol (1y)
39.3%
IV − RV
+32.2 pts
ATM-band put OI
19,475
Range position
31% above low
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This page is not a recommendation. It shows structural numbers and classification only. Whether ADBE is a name worth owning — at any price or strike — is the analyst work the paid Value Options Letter does every week.