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Also traded in: Germany

GuruFocus Financial Strength Rank measures how strong a company’s financial situation is. It is based on these factors

1. The debt burden that the company has as measured by its Interest coverage (current year).
2. Debt to revenue ratio. The lower, the better
3. Altman Z-score.

A company ranks high with financial strength is likely to withstand any business slowdowns and recessions.

Financial Strength : 10/10

vs
industry
vs
history
Cash-to-Debt No Debt
GKOS's Cash-to-Debt is ranked higher than
82% of the 205 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 1.74 vs. GKOS: No Debt )
Ranked among companies with meaningful Cash-to-Debt only.
GKOS' s Cash-to-Debt Range Over the Past 10 Years
Min: 0.12  Med: 17.77 Max: No Debt
Current: No Debt
0.12
No Debt
Equity-to-Asset 0.88
GKOS's Equity-to-Asset is ranked higher than
82% of the 196 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 0.60 vs. GKOS: 0.88 )
Ranked among companies with meaningful Equity-to-Asset only.
GKOS' s Equity-to-Asset Range Over the Past 10 Years
Min: 0.22  Med: 0.85 Max: 0.89
Current: 0.88
0.22
0.89
Interest Coverage No Debt
GKOS's Interest Coverage is ranked lower than
99.99% of the 137 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 63.92 vs. GKOS: No Debt )
Ranked among companies with meaningful Interest Coverage only.
GKOS' s Interest Coverage Range Over the Past 10 Years
Min: No Debt  Med: No Debt Max: No Debt
Current: No Debt
Piotroski F-Score: 6
Altman Z-Score: 43.61
Beneish M-Score: -3.08
WACC vs ROIC
9.33%
-27.09%
WACC
ROIC
GuruFocus Profitability Rank ranks how profitable a company is and how likely the company’s business will stay that way. It is based on these factors:

1. Operating Margin
2. Trend of the Operating Margin (5-year average). The company with an uptrend profit margin has a higher rank.
••3. Consistency of the profitability
4. Piotroski F-Score
5. Predictability Rank•

The maximum rank is 10. A rank of 7 or higher means a higher profitability and may stay that way. A rank of 3 or lower indicates that the company has had trouble to make a profit.

Profitability Rank is not directly related to the Financial Strength Rank. But if a company is consistently profitable, its financial strength will be stronger.

Profitability & Growth : 4/10

vs
industry
vs
history
Operating Margin % -3.85
GKOS's Operating Margin % is ranked lower than
61% of the 201 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 4.41 vs. GKOS: -3.85 )
Ranked among companies with meaningful Operating Margin % only.
GKOS' s Operating Margin % Range Over the Past 10 Years
Min: -67.78  Med: -14.36 Max: 3.71
Current: -3.85
-67.78
3.71
Net Margin % -2.25
GKOS's Net Margin % is ranked lower than
61% of the 201 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 4.18 vs. GKOS: -2.25 )
Ranked among companies with meaningful Net Margin % only.
GKOS' s Net Margin % Range Over the Past 10 Years
Min: -60.34  Med: -26.6 Max: 3.95
Current: -2.25
-60.34
3.95
ROE % -2.78
GKOS's ROE % is ranked lower than
61% of the 198 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 5.43 vs. GKOS: -2.78 )
Ranked among companies with meaningful ROE % only.
GKOS' s ROE % Range Over the Past 10 Years
Min: -73.55  Med: -0.07 Max: 4.26
Current: -2.78
-73.55
4.26
ROA % -2.41
GKOS's ROA % is ranked lower than
58% of the 206 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 1.85 vs. GKOS: -2.41 )
Ranked among companies with meaningful ROA % only.
GKOS' s ROA % Range Over the Past 10 Years
Min: -52.2  Med: -40.93 Max: 3.6
Current: -2.41
-52.2
3.6
ROC (Joel Greenblatt) % -32.68
GKOS's ROC (Joel Greenblatt) % is ranked lower than
67% of the 204 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 9.63 vs. GKOS: -32.68 )
Ranked among companies with meaningful ROC (Joel Greenblatt) % only.
GKOS' s ROC (Joel Greenblatt) % Range Over the Past 10 Years
Min: -760.88  Med: -361.96 Max: 45.47
Current: -32.68
-760.88
45.47
3-Year Revenue Growth Rate 34.40
GKOS's 3-Year Revenue Growth Rate is ranked higher than
94% of the 170 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 4.10 vs. GKOS: 34.40 )
Ranked among companies with meaningful 3-Year Revenue Growth Rate only.
GKOS' s 3-Year Revenue Growth Rate Range Over the Past 10 Years
Min: 0  Med: 17.2 Max: 34.4
Current: 34.4
0
34.4
3-Year EPS without NRI Growth Rate -100.00
GKOS's 3-Year EPS without NRI Growth Rate is ranked higher than
97% of the 155 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 12.90 vs. GKOS: -100.00 )
Ranked among companies with meaningful 3-Year EPS without NRI Growth Rate only.
GKOS' s 3-Year EPS without NRI Growth Rate Range Over the Past 10 Years
Min: 0  Med: -50 Max: -100
Current: -100
GuruFocus has detected 2 Warning Signs with Glaukos Corp GKOS.
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» GKOS's 30-Y Financials

Financials (Next Earnings Date: 2018-08-02)


Revenue & Net Income
Cash & Debt
Operating Cash Flow & Free Cash Flow
Operating Cash Flow & Net Income

» Details

Guru Trades

Q2 2017

GKOS Guru Trades in Q2 2017

Steven Cohen 373,900 sh (+176.55%)
Ron Baron 1,072,246 sh (+75.71%)
Caxton Associates Sold Out
Jim Simons 640,700 sh (-46.88%)
» More
Q3 2017

GKOS Guru Trades in Q3 2017

Ron Baron 2,194,059 sh (+104.62%)
Steven Cohen Sold Out
Jim Simons 503,600 sh (-21.40%)
» More
Q4 2017

GKOS Guru Trades in Q4 2017

PRIMECAP Management 82,210 sh (New)
Pioneer Investments 165,300 sh (New)
Paul Tudor Jones 10,353 sh (New)
Ron Baron Sold Out
Jim Simons 479,100 sh (-4.86%)
» More
Q1 2018

GKOS Guru Trades in Q1 2018

PRIMECAP Management 182,000 sh (+121.38%)
Pioneer Investments 252,900 sh (+52.99%)
Jim Simons 505,900 sh (+5.59%)
Paul Tudor Jones Sold Out
» More
» Details

Insider Trades

Latest Guru Trades with GKOS

(List those with share number changes of more than 20%, or impact to portfolio more than 0.1%)

GuruDate Trades Impact to Portfolio Price Range * (?) Current Price Change from Average Current Shares
Ron Baron 2017-12-31 Sold Out 0.34%$24.5 - $36.01 $ 42.5143%0
Ron Baron 2017-09-30 Add 104.62%0.17%$31.26 - $42.82 $ 42.5112%2,194,059
Premium More recent guru trades are included for Premium Members only!!
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Business Description

Industry: Medical Instruments & Equipment » Medical Instruments & Supplies    NAICS: 339112    SIC: 3841
Compare:NAS:OSUR, SZSE:300677, LSE:AMS, SZSE:300595, NAS:ATRI, XMCE:FAE, NAS:LMNX, TSE:7730, TSE:7780, TSE:3593, SZSE:300358, SZSE:300171, XKLS:7153, SZSE:300061, NAS:ATRC, NAS:LMAT, SHSE:603222, SZSE:002414, XKRX:145720, XKRX:048260 » details
Traded in other countries:6GJ.Germany,
Headquarter Location:USA
Glaukos Corp is an ophthalmic medical technology company focused on the development and commercialization of breakthrough products and procedures designed to transform the treatment of glaucoma.

Glaukos Corp is an ophthalmic medical technology company that develops and commercializes products and procedures used to treat glaucoma. The firm receives virtually all of its revenue from sales of its iStent products, which are primarily sold to hospitals and surgery centers. The iStent is a micro-invasive glaucoma surgery device that reduces intraocular pressure by restoring the natural outflow pathways for aqueous humor, the thin fluid that circulates the eye. It can lower pressure in adult patients with mild to moderate open-angle glaucoma. Glaukos generates the vast majority of its revenue in the United States.

Guru Investment Theses on Glaukos Corp

Baron Opportunity Fund Comments on Glaukos Corp - Apr 20, 2017

Shares of Glaukos Corporation (NYSE:GKOS), a pioneer of minimally-invasive products and procedures for the treatment of glaucoma, were up in the first quarter due to strong financial results that beat Street expectations, with revenues growing 64%. The company also raised 2017 guidance and announced favorable Medicare reimbursement. Glaukos’ products and procedures are currently approved for only a subset of the market. We believe the company will continue to deliver strong growth as its product coverage broadens. (Josh Riegelhaupt)



From the Baron Opportunity Fund first quarter 2017 shareholder letter.



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Baron Funds Comments on Glaukos Corporation - Jan 18, 2017

High growth These are higher risk/return companies typified by revenue growth of 20% or more that we believe will lead to dramatic earnings growth in the future. This category includes newer businesses with novel products or services. Yet these companies are not venture businesses. An example is Glaukos Corporation (NYSE:GKOS), a medical device company that sells a stent used to treat glaucoma, a disease that damages the optic nerve due to fluid buildup inside the eye. Glaukos’ first generation device, which is inserted into the eye during cataract surgery, has been proven to decrease intraocular pressure. Glaukos also has a promising product pipeline that includes next generation stents for stand-alone glaucoma procedures and an injectable drug delivery implant. The company has a two-year lead over its competitors, patent protection, and strong clinical data. We believe the addressable market exceeds $5 billion.





From Baron Discovery Fund's Investing in Earlier Stage Small Cap Growth Companies January 2017.



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Baron Funds Comments on Glaukos Corp - Oct 25, 2016

Glaukos Corporation (NYSE:GKOS) is the current market leader in the field of minimally-invasive glaucoma surgery or MIGS. As a pioneer in the field, Glaukos was the first to obtain FDA approval and insurance reimbursement for their eye stent, which they cleverly branded the iStent. Given the progressive nature of glaucoma that inevitably leads to blindness unless one’s eye pressure is effectively controlled, the iStent offers ophthalmologists a paradigm-shifting treatment option. Effectively, the iStent is a micro-sized plumbing solution that clears a blocked drain enabling a return of proper fluid flow. This allows for continuous pressure control and, as an ancillary benefit, a reduction in the need for concomitant glaucoma eye drops.







From Baron Opportunity Fund third-quarter 2016 commentary.



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Ratios

vs
industry
vs
history
PB Ratio 10.36
GKOS's PB Ratio is ranked lower than
84% of the 193 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 3.45 vs. GKOS: 10.36 )
Ranked among companies with meaningful PB Ratio only.
GKOS' s PB Ratio Range Over the Past 10 Years
Min: 5.19  Med: 9.2 Max: 14.34
Current: 10.36
5.19
14.34
PS Ratio 9.18
GKOS's PS Ratio is ranked lower than
77% of the 192 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 3.48 vs. GKOS: 9.18 )
Ranked among companies with meaningful PS Ratio only.
GKOS' s PS Ratio Range Over the Past 10 Years
Min: 1.97  Med: 7.96 Max: 15
Current: 9.18
1.97
15
Price-to-Free-Cash-Flow 156.30
GKOS's Price-to-Free-Cash-Flow is ranked lower than
82% of the 74 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 28.61 vs. GKOS: 156.30 )
Ranked among companies with meaningful Price-to-Free-Cash-Flow only.
GKOS' s Price-to-Free-Cash-Flow Range Over the Past 10 Years
Min: 47.5  Med: 194.18 Max: 635.64
Current: 156.3
47.5
635.64
Price-to-Operating-Cash-Flow 91.43
GKOS's Price-to-Operating-Cash-Flow is ranked lower than
83% of the 94 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 21.15 vs. GKOS: 91.43 )
Ranked among companies with meaningful Price-to-Operating-Cash-Flow only.
GKOS' s Price-to-Operating-Cash-Flow Range Over the Past 10 Years
Min: 35.72  Med: 98.96 Max: 329.81
Current: 91.43
35.72
329.81
EV-to-EBIT -217.50
GKOS's EV-to-EBIT is ranked lower than
99.99% of the 121 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 23.93 vs. GKOS: -217.50 )
Ranked among companies with meaningful EV-to-EBIT only.
GKOS' s EV-to-EBIT Range Over the Past 10 Years
Min: -1191.8  Med: -69.8 Max: 768.6
Current: -217.5
-1191.8
768.6
EV-to-EBITDA -8509.87
GKOS's EV-to-EBITDA is ranked lower than
98% of the 138 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 19.49 vs. GKOS: -8509.87 )
Ranked among companies with meaningful EV-to-EBITDA only.
GKOS' s EV-to-EBITDA Range Over the Past 10 Years
Min: -8559.3  Med: 164.15 Max: 506.4
Current: -8509.87
-8559.3
506.4
EV-to-Revenue 8.38
GKOS's EV-to-Revenue is ranked lower than
70% of the 199 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 3.57 vs. GKOS: 8.38 )
Ranked among companies with meaningful EV-to-Revenue only.
GKOS' s EV-to-Revenue Range Over the Past 10 Years
Min: 0.1  Med: 9.1 Max: 14.5
Current: 8.38
0.1
14.5
Current Ratio 7.90
GKOS's Current Ratio is ranked higher than
80% of the 200 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 2.57 vs. GKOS: 7.90 )
Ranked among companies with meaningful Current Ratio only.
GKOS' s Current Ratio Range Over the Past 10 Years
Min: 0.52  Med: 5.81 Max: 8.45
Current: 7.9
0.52
8.45
Quick Ratio 7.22
GKOS's Quick Ratio is ranked higher than
85% of the 201 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 1.87 vs. GKOS: 7.22 )
Ranked among companies with meaningful Quick Ratio only.
GKOS' s Quick Ratio Range Over the Past 10 Years
Min: 0.41  Med: 5.53 Max: 7.94
Current: 7.22
0.41
7.94
Days Inventory 164.62
GKOS's Days Inventory is ranked lower than
57% of the 197 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 124.35 vs. GKOS: 164.62 )
Ranked among companies with meaningful Days Inventory only.
GKOS' s Days Inventory Range Over the Past 10 Years
Min: 65.71  Med: 123.43 Max: 266.8
Current: 164.62
65.71
266.8
Days Sales Outstanding 39.18
GKOS's Days Sales Outstanding is ranked higher than
84% of the 165 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 61.97 vs. GKOS: 39.18 )
Ranked among companies with meaningful Days Sales Outstanding only.
GKOS' s Days Sales Outstanding Range Over the Past 10 Years
Min: 38.17  Med: 43.22 Max: 50.4
Current: 39.18
38.17
50.4
Days Payable 81.59
GKOS's Days Payable is ranked higher than
80% of the 151 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 54.66 vs. GKOS: 81.59 )
Ranked among companies with meaningful Days Payable only.
GKOS' s Days Payable Range Over the Past 10 Years
Min: 66.94  Med: 105.43 Max: 480.19
Current: 81.59
66.94
480.19

Buy Back

vs
industry
vs
history
3-Year Average Share Buyback Ratio -13.10
GKOS's 3-Year Average Share Buyback Ratio is ranked lower than
73% of the 143 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: -5.00 vs. GKOS: -13.10 )
Ranked among companies with meaningful 3-Year Average Share Buyback Ratio only.
GKOS' s 3-Year Average Share Buyback Ratio Range Over the Past 10 Years
Min: -13.1  Med: -6.55 Max: 0
Current: -13.1
-13.1
0

Valuation & Return

vs
industry
vs
history
Price-to-Net-Cash 15.86
GKOS's Price-to-Net-Cash is ranked higher than
59% of the 49 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 13.15 vs. GKOS: 15.86 )
Ranked among companies with meaningful Price-to-Net-Cash only.
GKOS' s Price-to-Net-Cash Range Over the Past 10 Years
Min: 7.81  Med: 12.49 Max: 20.85
Current: 15.86
7.81
20.85
Price-to-Net-Current-Asset-Value 11.65
GKOS's Price-to-Net-Current-Asset-Value is ranked lower than
51% of the 124 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 8.83 vs. GKOS: 11.65 )
Ranked among companies with meaningful Price-to-Net-Current-Asset-Value only.
GKOS' s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 6.31  Med: 10.02 Max: 16.13
Current: 11.65
6.31
16.13
Price-to-Tangible-Book 10.52
GKOS's Price-to-Tangible-Book is ranked lower than
72% of the 167 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 4.77 vs. GKOS: 10.52 )
Ranked among companies with meaningful Price-to-Tangible-Book only.
GKOS' s Price-to-Tangible-Book Range Over the Past 10 Years
Min: 6.14  Med: 9.64 Max: 15.01
Current: 10.52
6.14
15.01
Price-to-Median-PS-Value 1.15
GKOS's Price-to-Median-PS-Value is ranked higher than
67% of the 160 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 1.13 vs. GKOS: 1.15 )
Ranked among companies with meaningful Price-to-Median-PS-Value only.
GKOS' s Price-to-Median-PS-Value Range Over the Past 10 Years
Min: 0.27  Med: 0.94 Max: 1.9
Current: 1.15
0.27
1.9
Earnings Yield (Greenblatt) % -0.46
GKOS's Earnings Yield (Greenblatt) % is ranked lower than
61% of the 207 Companies
in the Global Medical Instruments & Supplies industry.

( Industry Median: 2.40 vs. GKOS: -0.46 )
Ranked among companies with meaningful Earnings Yield (Greenblatt) % only.
GKOS' s Earnings Yield (Greenblatt) % Range Over the Past 10 Years
Min: -2812.2  Med: -0.2 Max: 952.5
Current: -0.46
-2812.2
952.5

More Statistics

Revenue (TTM) (Mil) $163.48
EPS (TTM) $ -0.11
Beta1.08
Volatility39.82%
52-Week Range $23.08 - 45.00
Shares Outstanding (Mil)34.91

Analyst Estimate

Dec18
Revenue (Mil $)
EBIT (Mil $)
EBITDA (Mil $)
EPS ($) -0.70
EPS without NRI ($) -0.70
EPS Growth Rate
(Future 3Y To 5Y Estimate)
N/A
Dividends per Share ($)

Piotroski F-Score Details

Piotroski F-Score: 66
Positive ROAN
Positive CFROAY
Higher ROA yoyN
CFROA > ROAY
Lower Leverage yoyY
Higher Current Ratio yoyN
Less Shares Outstanding yoyY
Higher Gross Margin yoyY
Higher Asset Turnover yoyY

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