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 6095500000.0 (%).Trend:Increase 4.23% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 5999800000.0 (%).Trend:Decrease 1.57% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 9582500000.0 (%).Trend:Increase 59.71% than previous quarter

Overall: increasing (57.21%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 985300000.0 (%).Trend:Decrease 21.83% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 1793600000.0 (%).Trend:Increase 82.04% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 1354700000.0 (%).Trend:Decrease 24.47% than previous quarter

Overall: increasing (37.49%). 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 -24947300000.0 (%).Trend:Increase 12.28% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue -24728100000.0 (%).Trend:Decrease 0.88% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue -25949800000.0 (%).Trend:Increase 4.94% than previous quarter

Overall: decreasing (4.02%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 393600000.0 (%).Trend:Decrease 69.04% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 798500000.0 (%).Trend:Increase 102.87% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 1254800000.0 (%).Trend:Increase 57.14% than previous quarter

Overall: increasing (218.8%). Fluctuation: **Significant** (high 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 -240.31 (%).Trend:Increase 4.56% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets -202.43 (%).Trend:Decrease 15.76% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets -212.41 (%).Trend:Increase 4.93% than previous quarter

Overall: increasing (-11.61%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis of Q1 2020 to Q3 2020 shows fluctuating trends in working capital efficiency metrics. Liabilities on revenue are increasing (57.21%), while current assets on revenue, although increasing (37.49%), fluctuate significantly. Cost efficiency, represented by the ratio of retained earnings to revenue, is decreasing (4.02%) but with high variation. Selling, general, and administrative (SG&A) expense ratio is increasing (218.8%) but also with substantial fluctuations. Investment efficiency, measured by retained earnings on assets, is increasing (-11.61%), demonstrating high volatility across all metrics.