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 36.41 (%).Trend:Decrease 51.86% than previous quarter
Year 2019 Quarter 3: Liabilities on Revenue 24.59 (%).Trend:Decrease 32.46% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 110.85 (%).Trend:Increase 350.79% than previous quarter

Overall: increasing (204.45%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 2: Current assets on Revenue 108.45 (%).Trend:Decrease 49.97% than previous quarter
Year 2019 Quarter 3: Current assets on Revenue 78.04 (%).Trend:Decrease 28.04% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 262.48 (%).Trend:Increase 236.34% than previous quarter

Overall: increasing (142.03%). 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 72.5 (%).Trend:Decrease 49.3% than previous quarter
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue 52.28 (%).Trend:Decrease 27.89% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 177.96 (%).Trend:Increase 240.4% than previous quarter

Overall: increasing (145.46%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 6.51 (%).Trend:Decrease 3.84% than previous quarter
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 6.47 (%).Trend:Decrease 0.61% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 6.11 (%).Trend:Decrease 5.56% than previous quarter

Overall: decreasing (-6.14%). 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 27.24 (%).Trend:Increase 4.09% than previous quarter
Year 2019 Quarter 3: Retained Earning on Assets 28.83 (%).Trend:Increase 5.84% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 29.28 (%).Trend:Increase 1.56% than previous quarter

Overall: increasing (7.49%). Fluctuation: **Little** (low variation).

Earning Per Share


Financial analysis for Q2 2019 to Q1 2020 reveals significant volatility in key financial ratios. Liabilities and current assets on revenue show a positive trend but with large fluctuations.  The ratio of retained earnings to revenue demonstrates a clear increase with high variability.  The SG&A expense ratio shows a mild decrease with low variation.  The retained earnings on assets ratio also shows an increase with limited fluctuations.