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 80.79 (%).Trend:Increase 153.42% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 44.04 (%).Trend:Decrease 45.49% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 30.65 (%).Trend:Decrease 30.4% than previous quarter

Overall: decreasing (-62.06%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 134.5 (%).Trend:Increase 197.11% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 80.54 (%).Trend:Decrease 40.12% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 60.29 (%).Trend:Decrease 25.14% than previous quarter

Overall: decreasing (-55.17%). 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 102.92 (%).Trend:Increase 247.59% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 57.62 (%).Trend:Decrease 44.01% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 42.14 (%).Trend:Decrease 26.87% than previous quarter

Overall: decreasing (-59.06%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 34.24 (%).Trend:Increase 12.3% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 33.01 (%).Trend:Decrease 3.59% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 32.48 (%).Trend:Decrease 1.61% than previous quarter

Overall: decreasing (-5.14%). 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 10.21 (%).Trend:Increase 22.86% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 10.84 (%).Trend:Increase 6.17% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 11.81 (%).Trend:Increase 8.95% than previous quarter

Overall: increasing (15.67%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 1: Earning Per Share 0.37 (USD).Trend:Decrease 73.76% than previous quarter
Year 2020 Quarter 2: Earning Per Share 0.73 (USD).Trend:Increase 97.3% than previous quarter
Year 2020 Quarter 3: Earning Per Share 1.27 (USD).Trend:Increase 73.97% than previous quarter

Overall: increasing (243.24%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1-Q3 2020 reveals declining trends in liabilities and current assets on revenue.  The ratio of retained earnings to revenue also decreased substantially.  While selling, general, and administrative (SG&A) expenses decreased slightly and investment efficiency increased moderately, overall profitability, liquidity, and efficiency appear challenged.  Earnings per share showed substantial increase but with equally substantial quarterly variation.