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 36.44 (%).Trend:Decrease 35.3% than previous quarter
Year 2020 Quarter 1: Liabilities on Revenue 123.65 (%).Trend:Increase 239.32% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 59.84 (%).Trend:Decrease 51.61% than previous quarter

Overall: increasing (64.22%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2019 Quarter 3: Current assets on Revenue 83.28 (%).Trend:Decrease 35.01% than previous quarter
Year 2020 Quarter 1: Current assets on Revenue 271.17 (%).Trend:Increase 225.61% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 133.59 (%).Trend:Decrease 50.74% than previous quarter

Overall: increasing (60.41%). 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 126.92 (%).Trend:Decrease 33.86% than previous quarter
Year 2020 Quarter 1: Ratio of Retained Earnings to Revenue 409.36 (%).Trend:Increase 222.53% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 200.28 (%).Trend:Decrease 51.07% than previous quarter

Overall: increasing (57.8%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 22.77 (%).Trend:Decrease 0.18% than previous quarter
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 27.24 (%).Trend:Increase 19.63% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 25.89 (%).Trend:Decrease 4.96% than previous quarter

Overall: increasing (13.7%). Fluctuation: **Little** (low variation).


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 76.63 (%).Trend:Increase 2.41% than previous quarter
Year 2020 Quarter 1: Retained Earning on Assets 76.89 (%).Trend:Increase 0.34% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 76.62 (%).Trend:Decrease 0.35% than previous quarter

Overall: decreasing (-0.01%). Fluctuation: **Little** (low variation).

Earning Per Share


Financial analysis of Q3 2019 to Q2 2020 reveals a mixed picture of financial performance with significant fluctuations.  Working capital efficiency, measured by liabilities and current assets on revenue, showed increases with substantial volatility.  Cost efficiency, as measured by the ratio of retained earnings to revenue, also saw an increase marked by significant fluctuations.  The Selling, General & Administrative (SG&A) expense ratio had a moderate increase with low fluctuation.  Investment efficiency, as measured by retained earnings on assets, experienced a slight decrease with little volatility. The high degree of fluctuation across most metrics warrants a deeper investigation of underlying factors.