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 69840000000.0 (%).Trend:Decrease 3.26% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 47460000000.0 (%).Trend:Decrease 32.04% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 48220000000.0 (%).Trend:Increase 1.6% than previous quarter

Overall: decreasing (-30.96%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 152760000000.0 (%).Trend:Increase 6.91% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 145930000000.0 (%).Trend:Decrease 4.47% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 151820000000.0 (%).Trend:Increase 4.04% than previous quarter

Overall: decreasing (-0.62%). Fluctuation: **Little** (low 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 64820000000.0 (%).Trend:Increase 1.44% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 72570000000.0 (%).Trend:Increase 11.96% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 76080000000.0 (%).Trend:Increase 4.84% than previous quarter

Overall: increasing (17.37%). Fluctuation: **Little** (low 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 16.92 (%).Trend:Increase 3.05% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 19.53 (%).Trend:Increase 15.43% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 20.14 (%).Trend:Increase 3.12% than previous quarter

Overall: increasing (19.03%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2019 Quarter 3: Earning Per Share 0.51 (USD).Trend:Increase 27.5% than previous quarter
Year 2020 Quarter 1: Earning Per Share 0.25 (USD).Trend:Decrease 50.98% than previous quarter
Year 2020 Quarter 2: Earning Per Share 0.51 (USD).Trend:Increase 104.0% than previous quarter

Overall: stable (0.0%). Fluctuation: **Significant** (high variation).



Financial statements from Q3 2019 to Q2 2020 show a mixed picture.  Working capital efficiency suggests a slight decrease in current assets relative to revenue (-0.62%) and a substantial decrease in liabilities on revenue (-30.96%).  Cost efficiency reveals an increase in the ratio of retained earnings to revenue (17.37%), indicating improved profitability.  Investment efficiency also shows an increasing trend (19.03%). However, earnings per share show significant fluctuation, starting high in Q3 2019, dropping significantly in Q1 2020, and then recovering to a similar level in Q2 2020.  These fluctuations are critical to note for future analysis.