Working Capital Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2020 Quarter 1: Liabilities on Revenue 105.49 (%).Trend:Increase 86.94% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 65.04 (%).Trend:Decrease 38.34% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 80.18 (%).Trend:Increase 23.28% than previous quarter

Overall: decreasing (-23.99%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 147.61 (%).Trend:Increase 119.1% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 73.61 (%).Trend:Decrease 50.13% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 85.69 (%).Trend:Increase 16.41% than previous quarter

Overall: decreasing (-41.95%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 19.86 (%).Trend:Increase 269.14% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 11.78 (%).Trend:Decrease 40.68% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 7.36 (%).Trend:Decrease 37.52% than previous quarter

Overall: decreasing (-62.94%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 20.04 (%).Trend:Decrease 14.21% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 18.62 (%).Trend:Decrease 7.09% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 20.04 (%).Trend:Increase 7.63% than previous quarter

Overall: stable (0.0%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 1 in 2020 to Quater 3 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2020 Quarter 1: Retained Earning on Assets 10.51 (%).Trend:Increase 52.1% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 12.58 (%).Trend:Increase 19.7% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 7.37 (%).Trend:Decrease 41.41% than previous quarter

Overall: decreasing (-29.88%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis of Q1-Q3 2020 shows a mixed financial performance. Liabilities on revenue decreased, but current assets on revenue also declined. Cost efficiency demonstrated a substantial drop in the ratio of retained earnings to revenue, despite the SG&A expense ratio remaining stable.  Invest efficiency, as measured by retained earnings on assets, also decreased considerably with high variation.