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ABC Healthcare Corporation Financial Condition Analysis Report

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Executive Summary

This financial analysis report technically reveals the financial health of ABC Healthcare

Corp over three years, mentioning a competitive analysis with a leader of the industry - HCA

Healthcare. This report will use the rigorous financial ratio analysis. It will demonstrate the

disposal of the Price/Earnings (P/E) and Price /Book (P/B) ratios for ABC Healthcare's market

valuation standings compared to its main competitor and the broader industry benchmarks.

From 2017 through 2019, ABC Healthcare showed a robust increase in the confidence of

investors, which could be seen in the consistently growing P/E ratios that symbolized the

potential of the Company's future earning capabilities. Although the Company has accomplished

all the goals beyond its shareholder equity, it is low-priced per share compared to equity, which

is an opportunity for further development of the investor relationship.

Thus, these results indicate both the ability of the Company to maintain sufficient

liquidity levels and the growth in its revenue. On the other hand, possible risks like change in

profit margins and the possibility that assets are not fully utilized. As demonstrated through the

study, the report suggests a set of actionable suggestions to provide the most significant benefit

to the shareholders. This is reflected by improving operational efficiencies, being proactive and

acquisitive, enhancing service coverage to develop and deploy new investment ideas, and

improving communication between management, employees, and shareholders.

The strategic report includes essential information and recommendations that should

guide the management as it makes informed and well-supported decisions to improve the

organization's financial performance and obtain a competitive edge in the sector of healthcare.
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Company Background

ABC Healthcare Corporation is one of the most trusted healthcare providers. It functions

within a widespread network that consists of ambulatory surgical centers, urgent care centers,

hospitals, and outpatient facilities. ABC Healthcare Corporation has set a firm position in the

field of healthcare and this has been enabled by good leadership from its founder Maria Gomez.

ABC Healthcare has started to take life and expand across the countries because of the visionary

leadership of its founder. It provides a broad range of services, which does not only refer to the

geographic coverage but also the diversity of services offered.

The organization stands out when it comes to improving the entire healthcare system,

manifested in its use of state-of-the-art technology and continuous ways to improve its daily

processes. Such a bias has allowed ABC Healthcare to provide high-quality care fast and has led

to better results in all its healthcare units. Furthermore, Maria Gomez has wanted the

establishment to be involved in strategic collaborations and partnerships that are broader in

scope. Thus, the services expand to address the health needs of a community.

The ABC healthcare company's expansion plan involves sustainable and affordable care

for all communities as the Company seeks to reach the maximum number of people by offering

cheap but responsive care. This gives the health system the power to compete and improve its

market share, which aligns with the broader health industry's aim of optimizing access and

improving the quality of care. Through this management team and progressive plans, the

Company is aptly poised to show consistent growth and retain its reputation as the leader in the

sector of healthcare.

Overall Financial Analysis of ABC Healthcare Corporation

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ABC Healthcare Corporation has maintained upward growth of its revenues, efficient

liquidity management, and prudent capital structure. This detailed analysis focuses on revenue

trends, profitability, liquidity, and market valuation to evaluate the economic health of ABC

health care by exploring key financial indicators over the last three years.

Revenue Growth and Profitability

Over the last three years, ABC Healthcare's annual revenue growth of 8% was

experienced mainly due to the strategic expansion to underserved markets and integration of

specialized services within existing locations. For example, in 2019, the Company had a revenue

of $3.2 billion, above its 2018 revenue of $2.95. The Company's 2018 revenue exceeded its 2017

revenue of 2.73 billion. Such a steady increase indicates rising brand awareness across new

territories and more extensive accessibility to current markets via enhanced services (Salmon,

2020).

Profit margins showed variability, with the highest being 15 %in 2017, which decreased

to 13% in 2019 and increased to 14% in 2019. This instability pattern was influenced by

investments in expensive medical technologies and the addition of compliance costs with new

regulations imposed by healthcare administrators ((Salmon, 2020). Regardless of these costs, the

Company managed to maintain above-average profitability for the industry. This sees margins

around 10-12%

Liquidity and Capital Structure

A healthy liquidity picture for ABC Healthcare Corporation poses a solid current ratio of

1.8 as of 2019, which is an increase from 1.6 in 2017. This ratio exceeds the industry average of

1.5, pointing out that the Company is in a position to pay its short-term (Rosdiana et al., 2023).

Besides the Quick ratio growing from 1.2 in 2017 to 1.4 in 2019, it is more evident that cash
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management and operational efficiency have improved. Prudentially, the capital structure of the

company has been monitored, and it has maintained a debt-to-equity ratio of 0.6, below the

healthcare industry average of 0.8. This conservative and prudent fiscal policy results from

optimal financial injections to nurture growth without raising debts. The all-time interest

coverage ratio is 5, which shows no issue with the earnings to pay off the debt.

Market Valuation

The ABC Healthcare company, which is a financially stable company, has an

undervalued market valuation suggested by the P/E and the P/B ratio. The Company's P/E ratio

increased from 12.1 in 2017 to 14.5 in 2019, which still falls below the industry standard of 18.0

(Damodaran,2024). The market is underrating the Company's potential earnings. Another piece

of evidence can be seen from the P/B ratio, which has remained consistently under the industry

average of 1.5 and fluctuated. One indicates that the current market fails to appreciate the worth

of the firm's assets.

Financial Ratio Analysis for ABC Healthcare Corporation

Through the ratio analysis of ABC Healthcare Corporation's financials over the past three

fiscal years, this research primarily analyzes four major financial categories: profitability,

liquidity, leverage, and market valuation ratios. These KPIs provide a projection and, thus,

demonstrate how the Company has performed relative to the financial targets it has set and the

healthcare industry's principles.

Profitability Ratios

Profitability ratios calculate the earning power against the amount of the revenue, total

assets, and owner's equity. Key ratios include:

Gross Profit Margin:

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2017: 35%

2018: 34%

2019: 36%

Analysis: The gross margin improved significantly(in 2019, compared to the figures

previously recorded in the same period, indicating better control over the cost of goods sold and

a more structured management operation (Rafid et al.,2021). The figure of an average for the

sector of nearly 30% demonstrates that ABC Healthcare is taking a step well above the norm.

Net Profit Margin:

2017: 15%

2018: 13%

2019: 14%

Analysis: Despite ABC Healthcare's net profit margin fluctuations, it exceeds the

industry average of 10-12 %. This demonstrates strong profitability and high quality of expense

management (Rafid et al., 2021).

Return on Assets (ROA):

2017: 8%

2018: 7%

2019: 7.5%

Analysis: A modest drop in ROA is likely a result of a higher asset base, but there are not

enough earnings to justify this (Rafid et al., 2021). We see some improvement in the Company's

asset utilization as this ratio range falls between moderate and reasonable asset efficiency.

Liquidity Ratios

Liquidity ratios measure the ability of a company to meet its short term obligations.
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Current Ratio:

2017: 1.6

2018: 1.7

2019: 1.8

Analysis: The current ratio rises above the industry average of 1.5, showing more

liquidity and security (Rafid et al., 2021). Thus, ABC Healthcare is in an excellent financial

position.

Quick Ratio:

2017: 1.2

2018: 1.3

2019: 1.4

Analysis: The quick ratio, which excludes the inventory, also suggests the proper

liquidity to adopt all current debt obligations, indicating good financial management.

Leverage Ratios

Leverage ratios indicate the level of debt incurred by the business relative to equity and

assets:

Debt-to-Equity Ratio:

2017: 0.5

2018: 0.6

2019: 0.6

Analysis: Capital structure represents the amount of debt relative to an organization's

equity, and a low, stable ratio indicates this relationship is balanced with leverage below industry

standards and, therefore, risk minimized (Rafid et al., 2021).

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Interest Coverage Ratio:

2017: 5.0

2018: 5.0

2019: 5.0

Analysis: High-interest coverage fluently demonstrates that ABC Healthcare earns

substantially more than its interest payment obligations, which is a clear sign of good financial

strength.

Market Valuation Ratios

These ratios help evaluate the market's valuation of the Company

Price-to-Earnings (P/E) Ratio:

2017: 12.1

2018: 14.2

2019: 14.5

Analysis: As the P/E ratio is on the rise, it shows investors' growing faith in the

Company's future earnings and its potential to beat the industry average but still below. That

shows possible undervaluation.

Price-to-Book (P/B) Ratio

2017: 1.1

2018: 1.1

2019: 1.1

Analysis: The unchanged P/B ratio is a sign that the level of assessment is similar to the

actual Company's real value, but the lowest from the industry makes the Company an

undervalued asset.
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Trend Analysis of ABC Healthcare Corporation

Trend analysis counts ABC Healthcare Corporation's financial efficiency in the past three

years, and the report is based on the critical financial ratios that are inspected for this

contribution (Kh, 2022). This approach provides a more in-depth view of the Company's

financial health over time, which in turn helps to reveal current and potential trends in

profitability, liquidity, leverage, and market valuation that are well-suited to determine strategic

decisions and the investors' view of the Company.

Profitability Trends

Gross Profit Margin:

Trend: Slightly fluctuating but improving in 2019.

Insight: Although the variable gross margin was likely to occur (e.g., due to fluctuation in

costs or pricing strategies of manufacturers), ABC Healthcare maintains a higher gross margin

than most of the industry (Kh, 2022). The fact that sales and operating income have improved

indicates that the Company has opted for cost-cutting and operational efficiencies.

Net Profit Margin:

Trend: Decreased in 2018 but recovered slightly in 2019.

Insight: The decline in the net profit margin could have been due to an inadequate

reaction to growing administrative or operational costs, which was not accompanied by an

increment in the current revenue (Kh, 2022). The condition of the 2019 recovery is a sign of

discipline in cost control and possible access to diverse income streams.

Return on Assets (ROA):

Trend: Gradual decline from 2017 to 2018 with a slight increase in 2019
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Insight: There is a decreasing amount of money invested, which reflects that money

needs to be invested accordingly to make profits. The tiny growth of 2019 represents the start of

raising capitation efficiency.

Liquidity Trends

Current Ratio:

Trend: Consistently increasing.

Insight: The higher current ratio shows the organization is better positioned to settle its

short-term liabilities. This, in turn, implies better financial status stability and management of

working capital.

Quick Ratio:

Trend: Steadily increasing.

Insight: The Company's readiness to plunge in can be confirmed; its quick ratio

increased, and its cash and near-cash assets strengthened. This allows the Company to pay off

sudden cash demand without inventory sales.

Leverage Trends

Debt-to-Equity Ratio

Trend: Generally at a steady, moderate level.

Insight: The fact that the debt-to-equity ratio maintains suitable stability indicates a

properly balanced growth approach towards managing growth with both debt and equity; the

financial structure is purposely designed to be conservative to reduce the risk (Kh, 2022).

Interest Coverage Ratio

Trend: Constant.
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Insight: It is clear that such an unchanged interest coverage ratio implies a constant EBIT,

which is sufficient to pay interest obligations, manifesting financial stability without the burden

of the extra debt.

Market Valuation Trends

Price-to-Earnings (P/E) Ratio

Trend: Increasing.

Insight: The Company's up P/E ratios signal investors' increasing confidence in the firm's

long-term profit outlook. Although it still implies a risk of undervaluation by capitalizing below

industry benchmarks, this issue could be re-evaluated as a basis of business positioning.

Price-to-Book (P/B) Ratio:

Trend: Stable but consistently below industry norms.

Insight: The fact that the P/B ratio stays below the market average leaves a clue to

permanent undervaluation. This is a sign for market players that equity value calculation is not

correctly performed by the market participants, making the firm's equity value poorly

appreciated by the market players, which is one of the focus issues to improve investor relations

(Kh, 2022).

Competitive Comparative Analysis: ABC Healthcare Corporation vs. HCA

Healthcare

This section thoroughly considers the two largest healthcare providers, ABC Healthcare

Corporation and HCA Healthcare, as competitors in the healthcare industry. The comparison

gives primary attention to the financials and performance measures over the last three years, the

purpose of which is to Understand Whether ABC Healthcare is better than its most significant

rival.
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Financial Performance

Revenue Growth:

ABC Healthcare: Growth in the Company's annual revenue, 8% on average, demonstrates

the strength of the starting capital--from $2.73 billion in 2017 to $3.2 billion in 2019.

HCA Healthcare: A modest increase in revenue has been reported from $41 billion in

2017 to $46.7 billion in 2019, which was highlighted as about 10% annually on average.

Analysis: HCA Healthcare has strong revenue development against ABC Healthcare,

probably because it has been more prominent and has more diversified services.

Profitability (Net Profit Margin):

ABC Healthcare: Managerial excellence was expressed in consistently high net profit

margin rates above the sector average, which shifted from 15% in 2017 before dipping to 13% in

2018 and then rebounding to 14% in 2019.

HCA Healthcare: As a norm, they had been operating within a net profit of about 12-

13%, which was still high but fell slightly below that of ABC Healthcare.

Analysis: Compared to the other Company, HCA Healthcare, ABC Healthcare is the

more efficient or profitable, demonstrating by their higher margins that we outperform the largest

in-scale Company (Ali et al., 2022).

Financial Health

Liquidity (Current Ratio):

ABC Healthcare: During the period, better liquidity with the present ratio showed a

positive tendency from last year's value of 1.6 to 1.8 in 2019.

HCA Healthcare: Proceed with the message of a current ratio that occurs to be stable and

somewhat lower, equaling 1.4 on average.

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Analysis: ABC Healthcare is the leader in liquidity, showing good short-term conditions

and making it possible to cover the current obligations better than HCA Healthcare.

Leverage (Debt-to-Equity Ratio):

ABC Healthcare: Maintained a conservative debt-to-equity ratio, pretty stable at 0.6,

which served as a safeguard against liquidity problems should a need arise.

HCA Healthcare: Showed up more debt compared to equity, about 1.2, which has stayed

on the vendor's list for years.

Analysis: ABC Healthcare has a capital structure based on the less risky debt rather than

the more aggressive toll degree of HCA Healthcare. This could mean the former is less risky and

provides more excellent financial stability (Ali et al., 2022).

Market Valuation

Price-to-Earnings (P/E) Ratio:

ABC Healthcare: The P/E ratio was higher in 2017, 12.1, compared to 2019, which stood

at 14.5.

HCA Healthcare: Keep the industry standard PE ratio of 15 -17 during the period under

consideration.

Analysis: Even though the P/E ratio for ABC Healthcare indicates performance, its

number is below that of HCA Healthcare's. Hence, the market may undervalue ABC because it

might be much lower than its earnings potential.

Price-to-Book (P/B) Ratio:

ABC Healthcare: Repeatedly had the long-term reported P/B ratio in the neighborhood of

1.1.
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HCA Healthcare: The Company's price-to-book (P/B) multiple was considerably more

significant than other competitors, approximately 2.0.

Analysis: The higher P/B ratio of HCA Healthcare depicts investors' strong belief about

the value of HCA's book or assets instead of ABC.

Evaluation of Financial Statements of ABC Healthcare Corporation

A keen look at the Company's financial statements for the past three years - ABC

Healthcare Corporation in particular - reveals the Company's financial status in addition to its

valuation. Herein follows the assessment of the Company's financial state and the analysis of its

problems and potential based on the particular data and observance of the trends in financial

reports.

Financial Health and Valuation

Liquidity: The financials of ABC Health Care showcase a solid liquidity position that has

been improved progressively. The ratio was 1.6 in 2017 and now 1.8 in 2019. These ratios are

also substantially higher than the standard average of 1.5. This suggests the Company possesses

adequate cash reserves and liquid assets to meet any upcoming short-term liabilities comfortably.

This strong pool is vital and highly relevant to any healthcare company that needs operated

funding and a healthy cash cushion in an emergency.

Revenue Growth: The Company has proven its revenue growth of at least 8% per year,

which has been sustained. The revenue figures for 2017 and 2019 combined went from 2.73

billion to 3.2 billion US dollars, respectively. The persistent upward trajectory among this data

shows the apparent strengths of the strategies of the ABC Healthcare Company, as well as its

capacity to adjust to market dynamics.

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Profitability: Despite this strong relative revenue growth realized in the periods under

review, the Company's margin consistency has been susceptible to change. For example, in 2017,

the Company's profit margin peaked at 15% but dropped to 13% in 2018; luckily, it rose to 14%

in 2019. These movements are primarily driven by uncertain operational expenses, such as those

on new technology and infrastructure, that support long-term growth but can impact short-term

fiscal results.

Debt Levels: The definite ratio of the Company's debt to equity, which is 0.6, is more

conservative than the average healthcare industry, which is 0.8. This implies a discrete amount of

debt used, yet accordingly, it does not need to pay attention to the need for effectiveness for the

company as it continues to sprawl. On the one hand, this position favors debt management to

maintain economic growth with a balanced opportunity. On the other hand, conservative debt

management emphasizes maintaining financial stability.

Cash Flow Stability: Robust and sufficient cash flows from running the business are a

sign of an experienced and efficient management of running operations and required investment

activities. ABC Healthcare has demonstrated its ability to collect a healthy profit that reflects

quality financial and operational management, ensuring that the Company's investments are in

sync with its income and expenses.

Strengths

Robust Liquidity: One of the most attractive features of the Company is its solid

liquidity, which gives it the freedom to deal with unpredicted financial needs if necessary

without invading the Company's backbone.

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Consistent Revenue Growth: ABC Medicare's ability to grow at a speed of 10% year-

over-year compared with the fierce world of healthcare testifies to the organization's

effectiveness in capturing the market share.

Weaknesses

Fluctuating Profit Margins: As indicated by the wide fluctuations of profit margin, the

risks are possibly associated with billing or pricing systems that need to be corrected to stabilize

profitability.

Market Valuation Skepticism: The discounted dividend discount model calculates the

equity value, which is justified as the Company is traded at the lower P/E and P/B ratios,

suggesting the market pessimism towards the Company's future growth or profitability. This

might signify investors' fear of taking the risk specific to the sector or believing to be a gobbling

firm within the Company.

Recommendations

1. Enhance Operational Efficiency

As a part of hospital management, implementing lean management techniques across all

hospital and clinic operations will help minimize waste and operation costs. Such measures

should encompass joint enterprise management and supplier relations, employee workforce

scheduling depending on the predicted number of patients, and advanced analytics to track and

improve energy utilities and others (Shaturaev & Bekimbetova, 2021). This should be especially

helpful in reducing costs, as it is expected to reduce both operation and overhead expenses,

which will significantly bring about efficiency in operations and financial arrangement,

2. Pursue Strategic Acquisitions

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ABC should commit to expanding its network and seizing the chance to buy undervalued

clinics in areas where they are needed. Thus, these acquisitions should be performed in regions

where ABC Healthcare could help expand its network connections and local knowledge by using

its already existing operational practices and skills to quickly revamp the financial situation of

those organizations (Avotra et al., 2021). Through continuous optimization of healthcare quality,

ABC Company can grow its market share and diversify its income sources. Apart from

diversifying the Company's footprint, this strategy also lowers financial risk by widening the

platform and, in turn, increasing the overall valuation.

3. Strengthen Investor Relations

Design an investor relations system with good disclosure for transparency, going after

current investors, and gathering prospective investors (Aurel et al., 2020). Such an initiative may

deepen the cooperation between the Company and its stakeholders through instant

communication of the recent financial results, strategic decisions, and executive activity. Also,

holding investor days, involving in healthcare investment conferences through outstanding

presentations, and making quarterly earnings calls with directions to the future will ensure the

market perceptions will be rotated around the positive image of biotechnology. The P/B and P/E

ratios might be back down to the market average levels if ABC Healthcare Company's

performance report is presented as clearly, consistently, and positively as possible. It is worth

highlighting that the last-mentioned Company's stock market value can be even higher than the

industry average.

Conclusion

The financial analysis of ABC Healthcare Corporation reports on its position as a well-

established company with tremendous opportunities illustrated by consistent liquidity, growing

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revenues, and competent capital handling. However, this market needs to be revised by unjust

valuation, as is evident from the lower P/E and P/B ratios compared to the industry standards.

Due to this, it is recommended that the company implement lean management, which will create

efficiency and improve profitability. The team will then need to go for strategic acquisitions to

expand market share, and, finally, the relationship with investors will have to improve to have

investors review the Company in a financial reality that is not distorted. These initiatives

represent the fundamental tools that will allow ABC Healthcare to enhance its financial metrics

that will, in large, help to increase shareholder value, thus allowing the Company to secure a

market reputation that genuinely reflects its performance and put it in the top-of-the-trade

healthcare background.
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References

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In The Corporate Transformation of Health Care (pp. 55–77). Routledge.

https://www.academia.edu/download/42114081/Profit_and_Health_Care_Trends_in_Cor

pora20160204-10328-1rrk0i7.pdf

Rosdiana, R., Karyatun, S., & Sari, C. A. S. (2023). The Influence of Profitability, Liquidity,

Assets Structure, Company Size and Risk on Capital Structure: Study on Food and

Beverage Companies on Indonesia Stock Exchange. International Journal of Economics,

Management, Business, and Social Science (Ijembis), 3(3), 1089-

1100.https://cvodis.com/ijembis/index.php/ijembis/article/download/263/235

Damodaran, A. (2024). The little book of valuation: How to value a company, pick a stock, and

profit. John Wiley & Sons. https://www.academia.edu/download/45625762/245628033-

Aswath-Damodaran-The-Little-Book-of-Valuation-pdf.pdf

Rafid, M., Soukotta, A., Cakranegara, P. A., Sutiyan, O. S. J., & Nurriqli, A. (2021). Analysis Of

Liquidity Ratios, Profitability Ratios, And Capital Structures On Financial Distress

Conditions In Service Companies During The Covid-19 Period. Jurnal Darma

Agung, 30(2), 614-622.

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https://www.researchgate.net/profile/Arifia-Nurriqli/publication/368684986_Agnes_Souk

otta_2/links/63f511960d98a97717a892e8/Agnes-Soukotta-2.pdf

Kh, A. M. (2022). TREND ANALYSIS OF THE INDUSTRY'S BALANCE UNDER THE

CONDITIONS OF SUSTAINABLE DEVELOPMENT. Galaxy International

Interdisciplinary Research Journal, 10(5), 975–978.

https://giirj.com/index.php/giirj/article/download/3121/3028

Ali, S., Murtaza, G., Hedvicakova, M., Jiang, J., & Naeem, M. (2022). Intellectual capital and

financial performance: A comparative study. Frontiers in Psychology, p. 13, 967820.

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Shaturaev, J., & Bekimbetova, G. (2021). Transformation of business efficiency with lean

management. Deutsche Internationale Zeitschrift für zeitgenössische Wissenschaft, (22),

71-73. https://cyberleninka.ru/article/n/transformation-of-business-efficiency-with-the-

lean-management

Avotra, A. A. R. N., Chengang, Y., Wei, X., Ming, J., & Marcelline, T. R. S. (2021). Need help

with business corporate cynical impression? Powerful methods of CSR to enhance

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Appendix

Appendix A: Financial ratio calculations

P/ratio calculation from 2017- 2019

2017: market price /earnings per share =83.62/9.15= 9.14

2018: market price /earnings per share=83.62/9.87=10.63

2019: market price /earnings per share=83.62/6.91=12.10

P/B ratio calculation (2017-2019)

2017: Market price /book value per share =83.62/226 =0.37

2018: market price /book value per share=83.62/209.05=0.40

2019: market price /book value per share=83.62/199.1=0.42

Appendix B: Yearly financial data tables

Revenue and profitability (2017-2019)

year Revenue Gross Operating Net

in billions profit profit profit

2017 $2.73 $0.95 $0.41 $0.41

2018 $2.95 $1.00 $0.38 $0.38

2019 $3.20 $1.15 $0.45 $0.45

Liquidity matrices (2017-2019)

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year Current ratio Quick ratio

2017 16 12

2018 17 13

2019 18 14

Leverage figure 2017-2019

year Debt to equity ratio

2017 0.5

2018 0.6

2019 0.6

Appendix C. Competitive Comparative Analysis

Financial comparison of ABC and HCA

metric ABC Healthcare HCA Healthcare

(2019) (2019)

Revenue growth 8% 10%

P/E ratio 14.5 17

P/B ratio 1.1 2.0

Appendix D: Trend Analysis Graphs

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PRICE TO EARNING RATIO TREND (2017-2019)

14

12

10

0
2017 2018 2019

Series 1 Column1

Price-to-Book (P/B) Ratio Trend (2017-2019

0.43

0.42

0.41

0.4

0.39

0.38

0.37

0.36

0.35

0.34
2017 2018 2019

Series 1 Column1

Revenue Growth Trend (2017-2019)

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$3.30

$3.20

$3.10

$3.00

$2.90

$2.80

$2.70

$2.60

$2.50

$2.40
2017 2018 2019

Series 1 Column1 Column2

Appendix E: Investor Relations Enhancements

Investor Communication Schedule for 2020

Q1: Earnings Call - January 15, 2020

Q2: Investor Day - April 22, 2020

Q3: Earnings Call - July 10, 2020

Q4: Earnings Call - October 6, 2020

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