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

Liabilities on Revenue
Year 2019 Quarter 3: Liabilities on Revenue 32.08 (%).Trend:Decrease 24.55% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 85.18 (%).Trend:Increase 165.52% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 41.08 (%).Trend:Decrease 51.77% than previous quarter

Overall: increasing (28.05%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 23.43 (%).Trend:Decrease 29.43% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 76.27 (%).Trend:Increase 225.52% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 49.89 (%).Trend:Decrease 34.59% than previous quarter

Overall: increasing (112.93%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 154.66 (%).Trend:Decrease 33.35% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 491.5 (%).Trend:Increase 217.79% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 273.1 (%).Trend:Decrease 44.44% than previous quarter

Overall: increasing (76.58%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

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

Retained Earning on Assets
Year 2019 Quarter 3: Retained Earning on Assets 35.49 (%).Trend:Decrease 1.39% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 34.46 (%).Trend:Decrease 2.9% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 33.88 (%).Trend:Decrease 1.68% than previous quarter

Overall: decreasing (-4.54%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share 7.76 (USD).Trend:Increase 47.81% than previous quarter
Year 2020 Quarter 1: Earning Per Share 1.48 (USD).Trend:Decrease 80.93% than previous quarter
Year 2020 Quarter 2: Earning Per Share 3.01 (USD).Trend:Increase 103.38% than previous quarter

Overall: decreasing (-61.21%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2019 to Q2 2020 reveals significant fluctuations.  Working capital efficiency, measured by liabilities and current assets on revenue, increased, although with considerable variation.  Cost efficiency (ratio of retained earnings to revenue) also increased, with large swings.  Investment efficiency (retained earnings on assets) decreased slightly, while earnings per share decreased substantially, with significant quarter-to-quarter changes.