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 10748100000.0 (%).Trend:Decrease 10.96% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 11312300000.0 (%).Trend:Increase 5.25% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 9924400000.0 (%).Trend:Decrease 12.27% than previous quarter

Overall: decreasing (-7.66%). Fluctuation: **Little** (low variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 20716900000.0 (%).Trend:Decrease 12.02% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 21081600000.0 (%).Trend:Increase 1.76% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 20315400000.0 (%).Trend:Decrease 3.63% than previous quarter

Overall: decreasing (-1.94%). Fluctuation: **Little** (low 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 15565900000.0 (%).Trend:Increase 18.57% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 15618200000.0 (%).Trend:Increase 0.34% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 16301200000.0 (%).Trend:Increase 4.37% than previous quarter

Overall: increasing (4.72%). Fluctuation: **Little** (low variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 2132500000.0 (%).Trend:Decrease 68.19% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 4088700000.0 (%).Trend:Increase 91.73% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 5627300000.0 (%).Trend:Increase 37.63% than previous quarter

Overall: increasing (163.88%). 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 39.0 (%).Trend:Increase 17.72% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 39.3 (%).Trend:Increase 0.77% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 43.02 (%).Trend:Increase 9.47% than previous quarter

Overall: increasing (10.31%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2020 Quarter 1: Earning Per Share -0.18 (USD).Trend:Decrease 111.46% than previous quarter
Year 2020 Quarter 2: Earning Per Share -0.13 (USD).Trend:Decrease 27.78% than previous quarter
Year 2020 Quarter 3: Earning Per Share 0.52 (USD).Trend:Decrease 500.0% than previous quarter

Overall: increasing (-388.89%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1-Q3 2020 reveals a complex financial situation. Working capital appears stable, with slight declines in liabilities and current assets on revenue. Cost efficiency shows a positive trend in retained earnings to revenue, while SG&A expense ratio exhibits substantial quarter-to-quarter variation, increasing significantly. Investment efficiency is moderately increasing.  Earnings per share are a cause for concern, initially negative and then showing significant volatility. Further analysis is needed to understand these trends and their implications for the company.