Working Capital Efficiency
The data from Quater 2 in 2019 to Quater 3 in 2020 includes 3 quarters.

Liabilities on Revenue
Year 2019 Quarter 2: Liabilities on Revenue 59.72 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Liabilities on Revenue 38.86 (%).Trend:Decrease 34.93% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 41.29 (%).Trend:Increase 6.25% than previous quarter

Overall: decreasing (-30.86%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2019 Quarter 2: Current assets on Revenue 36.78 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Current assets on Revenue 25.54 (%).Trend:Decrease 30.56% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 40.5 (%).Trend:Increase 58.57% than previous quarter

Overall: increasing (10.11%). Fluctuation: **Neutral** (moderate variation).


Cost Efficiency
The data from Quater 2 in 2019 to Quater 3 in 2020 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2019 Quarter 2: Ratio of Retained Earnings to Revenue -47.39 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Ratio of Retained Earnings to Revenue -28.94 (%).Trend:Decrease 38.93% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue -13.7 (%).Trend:Decrease 52.66% than previous quarter

Overall: increasing (-71.09%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2019 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 31.67 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 31.65 (%).Trend:Decrease 0.06% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 29.48 (%).Trend:Decrease 6.86% than previous quarter

Overall: decreasing (-6.92%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 2 in 2019 to Quater 3 in 2020 includes 3 quarters.

Retained Earning on Assets
Year 2019 Quarter 2: Retained Earning on Assets -12.33 (%).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Retained Earning on Assets -11.13 (%).Trend:Decrease 9.73% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets -3.42 (%).Trend:Decrease 69.27% than previous quarter

Overall: increasing (-72.26%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2019 Quarter 2: Earning Per Share 2.16 (USD).Trend:Increase 0% than previous quarter
Year 2019 Quarter 3: Earning Per Share 3.18 (USD).Trend:Increase 47.22% than previous quarter
Year 2020 Quarter 3: Earning Per Share 2.08 (USD).Trend:Decrease 34.59% than previous quarter

Overall: decreasing (-3.7%). Fluctuation: **Neutral** (moderate variation).



Financial statements from Q2 2019 to Q3 2020 show mixed results. Liabilities on revenue are decreasing overall, with some quarter-to-quarter fluctuations. Current assets relative to revenue are increasing overall, but also with significant fluctuation. Cost efficiency, indicated by the ratio of retained earnings to revenue, displays a substantial, though upward, trend but significant volatility. Investment efficiency also shows a generally increasing pattern with large changes in performance. Earnings per share show decreases in the period.