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 246.6 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Liabilities on Revenue 146.48 (%).Trend:Decrease 40.6% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 159.5 (%).Trend:Increase 8.89% than previous quarter

Overall: decreasing (-35.32%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 2: Current assets on Revenue 250.12 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Current assets on Revenue 170.74 (%).Trend:Decrease 31.74% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 213.79 (%).Trend:Increase 25.21% than previous quarter

Overall: decreasing (-14.53%). Fluctuation: **Neutral** (moderate 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 121.24 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 78.58 (%).Trend:Decrease 35.19% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 122.68 (%).Trend:Increase 56.12% than previous quarter

Overall: increasing (1.19%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 43.42 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 44.24 (%).Trend:Increase 1.89% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 38.13 (%).Trend:Decrease 13.81% than previous quarter

Overall: decreasing (-12.18%). Fluctuation: **Little** (low 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 15.12 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Retained Earning on Assets 5.08 (%).Trend:Decrease 66.4% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 5.33 (%).Trend:Increase 4.92% than previous quarter

Overall: decreasing (-64.75%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis of 2019 Q2-2020 Q1 indicates mixed results.  Liabilities on revenue display a notable decline, while current assets on revenue show a smaller, moderate decrease.  The retained earnings-to-revenue ratio shows a slight overall increase, similar to cost efficiency trends, where the selling, general, and administrative (SG&A) expense ratio decreases slightly. Investment efficiency, however, shows a substantial decrease in retained earnings on assets, exhibiting significant variation.