Working Capital Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 2: Liabilities on Revenue 70.59 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Liabilities on Revenue 49.28 (%).Trend:Decrease 30.19% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 205.99 (%).Trend:Increase 318.0% than previous quarter

Overall: increasing (191.81%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 2: Current assets on Revenue 73.57 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Current assets on Revenue 50.83 (%).Trend:Decrease 30.91% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 272.38 (%).Trend:Increase 435.86% than previous quarter

Overall: increasing (270.23%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 2: Ratio of Retained Earnings to Revenue 160.47 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 105.96 (%).Trend:Decrease 33.97% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 258.43 (%).Trend:Increase 143.89% than previous quarter

Overall: increasing (61.05%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 6.22 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.29 (%).Trend:Increase 17.2% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 4.89 (%).Trend:Decrease 32.92% than previous quarter

Overall: decreasing (-21.38%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 2 in 2019 to Quater 1 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 2: Retained Earning on Assets 17.02 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Retained Earning on Assets 15.46 (%).Trend:Decrease 9.17% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 9.92 (%).Trend:Decrease 35.83% than previous quarter

Overall: decreasing (-41.72%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis reveals a significant increase in liabilities and current assets on revenue, with substantial quarterly variations.  The ratio of retained earnings to revenue also shows a positive trend, albeit with considerable fluctuations.  Selling, general, and administrative (SG&A) expenses decreased over the period, contrasting with the increasing trends in liabilities and assets.  Investment efficiency, reflected in retained earnings on assets, shows a clear negative trend with substantial quarterly swings.