Valuation + Options Snapshot
IBM
$249.65 · 52-week range $199.19 – $332.46 · as of 2026-10-28
Value
Cheap
Volatility setup
Discounted
What the numbers show
- P/E 21.2× vs 5y median 25.6× — 17.0% below its own history.
- FCF yield 6.2% — modest.
- Dividend yield 2.70% — well covered by TTM FCF (2.3×).
- YoY growth — revenue +6.8%, EPS +40.2%, FCF +17.5%.
- Share count up 1.9% over 8 quarters — modest dilution.
- ATM IV 35.6% vs trailing realized vol 50.3% — -14.7 vol points (deep discount; market underpricing risk).
- Liquid chain — ATM-band put OI 35,753.
Current P/E
21.3×
5y median P/E
25.6×
vs 5y median
-17.0%
FCF yield
6.21%
Dividend yield
2.70%
Coverage (FCF / div)
2.3×
Revenue YoY
+6.8%
EPS YoY
+40.2%
FCF YoY
+17.5%
Shares Δ (8 quarters)
+1.9%
ATM implied vol
35.6%
Realized vol (1y)
50.3%
IV − RV
-14.7 pts
ATM-band put OI
35,753
Range position
20% above low
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This page is not a recommendation. It shows structural numbers and classification only. Whether IBM is a name worth owning — at any price or strike — is the analyst work the paid Value Options Letter does every week.