-39.36% is the change from 437 to 265
Calculation steps:
[( 265 - 437 ) ÷ 437] x 100 = -39.36%
Formula
Percentage change = [(265 - 437) / 437] x 100
Subtract the new number by the original number
265 - 437 = -172
-172 ÷ 437 = -0.39359267734553777
-0.39359267734553777 x 100 = -39.36%