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 135.9 (%).Trend:Increase 238.06% than previous quarter
Year 2020 Quarter 2: Liabilities on Revenue 65.53 (%).Trend:Decrease 51.78% than previous quarter
Year 2020 Quarter 3: Liabilities on Revenue 41.59 (%).Trend:Decrease 36.53% than previous quarter

Overall: decreasing (-69.4%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2020 Quarter 1: Current assets on Revenue 300.11 (%).Trend:Increase 331.69% than previous quarter
Year 2020 Quarter 2: Current assets on Revenue 131.96 (%).Trend:Decrease 56.03% than previous quarter
Year 2020 Quarter 3: Current assets on Revenue 84.24 (%).Trend:Decrease 36.16% than previous quarter

Overall: decreasing (-71.93%). Fluctuation: **Significant** (high 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 98.45 (%).Trend:Increase 236.01% than previous quarter
Year 2020 Quarter 2: Ratio of Retained Earnings to Revenue 45.96 (%).Trend:Decrease 53.32% than previous quarter
Year 2020 Quarter 3: Ratio of Retained Earnings to Revenue 29.91 (%).Trend:Decrease 34.92% than previous quarter

Overall: decreasing (-69.62%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2020 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 33.39 (%).Trend:Increase 28.42% than previous quarter
Year 2020 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 27.2 (%).Trend:Decrease 18.54% than previous quarter
Year 2020 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 26.18 (%).Trend:Decrease 3.75% than previous quarter

Overall: decreasing (-21.59%). Fluctuation: **Neutral** (moderate 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 16.32 (%).Trend:Decrease 16.99% than previous quarter
Year 2020 Quarter 2: Retained Earning on Assets 17.31 (%).Trend:Increase 6.07% than previous quarter
Year 2020 Quarter 3: Retained Earning on Assets 17.83 (%).Trend:Increase 3.0% than previous quarter

Overall: increasing (9.25%). Fluctuation: **Little** (low variation).

Earning Per Share


The financial performance from Q1 2020 to Q3 2020 shows considerable variability. Working capital efficiency metrics—liabilities and current assets on revenue—decreased sharply (-69.4% and -71.93%, respectively), indicating potential operational inefficiencies. Cost efficiency also shows a significant decline in the ratio of retained earnings to revenue (-69.62%).  However, SG&A expense ratio decrease (-21.59%) was less dramatic, and retained earnings on assets exhibited a small positive trend (9.25%).  A detailed investigation is necessary to fully understand these mixed signals.