Ekso Bionics Holdings (Ekso Bionics Holdings) Predictability Rank

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What is Ekso Bionics Holdings Predictability Rank?

Warren Buffett said many times that the companies he likes are:

1. Simple businesses that he understands
2. that have predictable and proven earnings and
3. with economic moat
4. those can be bought at a reasonable price.

It is hard to quantify "simple businesses that he (Buffett) understands", so we will focus on the other three characteristics instead. In GuruFocus Research: What worked in the market from 1998-2008? Part I: Introduction of Predictability Rank, we will show that the businesses that have predictable and proven earnings are usually also simple businesses that an average person could understand.

GuruFocus conducted a back test study of Warren Buffett's strategy of "buying good companies at fair prices" for the years from 1998-2008.

Ekso Bionics Holdings Predictability Rank Calculation

In our database there are 2403 stocks that have been traded from Jan. 2, 1998 to Aug. 31, 2008. We have the complete 10-year financial data and trading prices of these companies for this period. We rank the predictability of these companies based on the consistency of their revenue per share and EBITDA (earning before interest, tax, depreciation and amortization) per share over the past ten fiscal years, and study the correlation between the stock performances and the predictability of the business.

Our study may be subject to these biases and assumptions:

Dividend yields are not counted for investment returns
Effects of price changes due to spin-offs may not be fully adjusted
Study is subjected to survivorship bias due to de-listing, bankruptcy, LBO, M&A, etc.

The correlation between business predictability and investment returns of a company is showed below.

Correlation Between Business Predictability and Investment Returns

	Predictables	Non-Predictable	All stocks
Total Number of stocks	570	1833	2403
Total Lost Money	61	830	891
Total Lost More Than 50%	18	412	430
Total Lost More Than 90%	4	86	90
Average Gain	260.6%	100.0%	138.1%
Median Gain	150.0%	13.0%	39.0%
Maximum Gain	2852.0%	11483.0%	11483.0%
Maximum Loss	-100.0%	-100.0%	-100.0%
Annualized Average Gain	12.7%	6.7%	8.4%
Annualized Median Gain	8.9%	1.1%	3.1%

For the 570 predictable companies, we have seen strong correlation between the predictability of businesses and the stock performances over the past 10 years, regardless of the valuation of business at 1998. Accordingly, we have ranked the business predictability from 5-star to 1-star, as shown in this table.

Predictability Rank	5-Star	4.5-Star	4-Star	3.5-Star	3-Star	2.5-Star	2-Star	1-Star (non-predictable)	Average among all
% Out of All 2403 Stocks	3.3%	2.9%	3.7%	3.3%	3.3%	3.7%	3.3%	76.3%	100%
% that are in Loss (10y)	3%	10%	8%	9%	11%	18%	16%	45%	37%
Average Gain (10y)	364.6%	330.9%	278.0%	235.1%	243.5%	227.8%	154.8%	100.0%	138.1%
Median Gain (10y)	238.5%	193.5%	171.0%	159.0%	132.5%	113.5%	87.0%	13.0%	39.0%
Maximum Gainer	2228.0%	2547.0%	2452.0%	2852.0%	2432.0%	1892.0%	1807.0%	11483.0%	11483.0%
Maximum Loser	-82.0%	-53.0%	-67.0%	-100.0%	-83.0%	-100.0%	-78.0%	-100.0%	-100.0%
Annualized Average Gain	15.4%	14.6%	13.2%	12.0%	12.2%	11.7%	9.1%	6.7%	8.4%
Annualized Median Gain	12.1%	10.6%	9.8%	9.3%	8.2%	7.3%	6.0%	1.1%	3.1%

For detailed information about each predictability rank, please go to GuruFocus Research: What worked in the market from 1998-2008? Part I: Introduction of Predictability Rank

Ekso Bionics Holdings Predictability Rank Related Terms

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Ekso Bionics Holdings (Ekso Bionics Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Healthcare » Medical Devices & Instruments » Ekso Bionics Holdings Inc (NAS:EKSO) » Definitions » Predictability Rank

Comparable Companies

Traded in Other Exchanges

23E2:Germany

Address

101 Glacier Point, Suite A, San Rafael, CA, USA, 94901

Website

https://www.eksobionics.com

Ekso Bionics Holdings Inc designs, develops and sells exoskeleton technology used in healthcare and industrial markets. The wearable exoskeletons are to be worn over clothes and controlled by a trained operator to augment human strength, endurance, and mobility. The company's segments are EksoHealth and EksoWorks. All of the company's operations are held in the United States. The EksoHealth segment which derives majority revenue designs, engineers, manufactures and sells exoskeletons for applications in the medical markets. The EksoWorks segment designs, engineers, manufactures, and markets exoskeleton devices to allow able-bodied users to perform difficult repetitive work for extended periods. The regions company operates in are the Americas, EMEA, and APAC.

Executives

Jerome Wong	officer: Interim CFO	C/O EKSO BIONICS HOLDINGS, INC., 1414 HARBOUR WAY SOUTH, SUITE 1201, RICHMOND CA 94804
Scott G. Davis	officer: President & COO	C/O EKSO BIONICS HOLDINGS, INC., 1414 HARBOUR WAY SOUTH, SUITE 1201, RICHMOND CA 94804
Steven Sherman	director
Jason C Jones	officer: VP of Product Development	EKSO BIONICS HOLDINGS, INC., 1414 HARBOUR WAY SOUTH, SUITE 1201, RICHMOND CA 94804
John Glenn	officer: Chief Financial Officer	7900 HOPYARD ROAD, APT 210, PLEASANTON CA 94577
Lathan Corinna	director	140 KENDRICK STREET, NEEDHAM MA 02494
William R Shaw	officer: See Remarks	1414 HARBOUR WAY SOUTH, SUITE 1201, C/O EKSO BIONICS HOLDINGS, INC., RICHMOND CA 94804
Rhonda A. Wallen	director	C/O EKSO BIONICS HOLDINGS, INC., 1414 HARBOUR WAY SOUTH, SUITE 1201, RICHMOND CA 94804
Mary Ann Cloyd	director	184 LIBERTY CORNER ROAD, SUITE 302, WARREN NJ 07059
Combest Development (hong Kong) Ltd	10 percent owner	ROOM 2210, CC WU BUILDING 302, HENNESSY ROAD, WAN CHAI, HONG KONG K3 999077
Jack Peurach	director, officer: Chief Executive Officer	1414 HARBOUR WAY SOUTH, SUITE 1201, RICHMOND CA 94804
Thomas A Schreck	director	10240 BUBB RD, CUPERTINO CA 95014
Puissance Capital Management Lp	10 percent owner	950 THIRD AVENUE, 25TH FLOOR, NEW YORK NY 10022
Christian Babini	officer: VP of Sales, Americas	C/O EKSO BIONICS HOLDINGS, INC., 1414 HARBOUR WAY SOUTH, SUITE 1, RICHMOND CA 94804
Puissance Cross-border Opportunities Ii Llc	10 percent owner	C/O PUISSANCE CAPITAL FUND (GP) LLC, 950 THIRD AVENUE, NEW YORK NY 10022