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 146.69 (%).Trend:Increase 395.74% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 29.77 (%).Trend:Decrease 79.71% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 30.25 (%).Trend:Increase 1.61% than previous quarter

Overall: decreasing (-79.38%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 157.92 (%).Trend:Increase 141.28% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 77.83 (%).Trend:Decrease 50.72% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 57.31 (%).Trend:Decrease 26.37% than previous quarter

Overall: decreasing (-63.71%). 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 -125.67 (%).Trend:Increase 80.69% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue -59.71 (%).Trend:Decrease 52.49% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue -53.63 (%).Trend:Decrease 10.18% than previous quarter

Overall: increasing (-57.32%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 3.25 (%).Trend:Decrease 6.34% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 3.13 (%).Trend:Decrease 3.69% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 3.53 (%).Trend:Increase 12.78% than previous quarter

Overall: increasing (8.62%). 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 -8.76 (%).Trend:Decrease 31.62% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets -8.19 (%).Trend:Decrease 6.51% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets -9.46 (%).Trend:Increase 15.51% than previous quarter

Overall: decreasing (7.99%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis for Q1-Q3 2020 indicates substantial fluctuations in working capital efficiency. Liabilities on revenue decreased significantly from Q1 to Q2 but then slightly increased in Q3, showing substantial variation.  Current assets on revenue also decreased throughout the period.  Cost efficiency shows some variation, with the SG&A expense ratio slightly increasing overall. The ratio of retained earnings to revenue is increasing but remains negative, suggesting a continued need for improvement.  Investment efficiency, measured by retained earnings on assets, is decreasing with significant volatility.