It looks like stucco but much more uniform. Usually few or no cracks and usually like an orange peel texture rather than smooth or 'lace'. It has a rubbery feel on the top coat, like elastomeric paint but thicker. It will flex in a bit when pushed. It is usually about 1/8 inch thick, you can stick a probe through it (not recommended). There will be 5 gallon buckets in the garage labeled 'dryvit' or 'pleco' for touchup. There will be moisture and mold below the surface.
It is usually trowelled on with the texture coat sprayed on, hence the uniform look. It is installed usually over 3/4 or 1 inch styrofoam, similar to stucco. at first glance it looks like concrete stucco but after seeing a few it is obvious it is not.
sometimes it looks like 4x8 sheets because some systems are made for troweling over osb or plywood without the styrofoam or any other backer. The 4x8 joints become obvious as the sheets expand and contract and moisture intrusion is a given. I have a good picture I will post later that shows a cut out section.