Working Capital Efficiency
The data from Quater 3 in 2022 to Quater 3 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 3: Liabilities on Revenue 30.06 (%).Trend:Increase 22.79% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 92.19 (%).Trend:Increase 206.69% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 22.99 (%).Trend:Decrease 75.06% than previous quarter

Overall: decreasing (-23.52%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 71.3 (%).Trend:Decrease 26.89% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 256.85 (%).Trend:Increase 260.24% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 87.94 (%).Trend:Decrease 65.76% than previous quarter

Overall: increasing (23.34%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2022 to Quater 3 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 144.29 (%).Trend:Decrease 28.06% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 414.65 (%).Trend:Increase 187.37% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 161.52 (%).Trend:Decrease 61.05% than previous quarter

Overall: increasing (11.94%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 5.94 (%).Trend:Increase 2.41% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 6.36 (%).Trend:Increase 7.07% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 6.77 (%).Trend:Increase 6.45% than previous quarter

Overall: increasing (13.97%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 3 in 2022 to Quater 3 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 3: Retained Earning on Assets 67.69 (%).Trend:Increase 0.94% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 61.6 (%).Trend:Decrease 9.0% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 67.81 (%).Trend:Increase 10.08% than previous quarter

Overall: increasing (0.18%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 5.96 (USD).Trend:Increase 38.93% than previous quarter
Year 2023 Quarter 1: Earning Per Share 1.94 (USD).Trend:Decrease 67.45% than previous quarter
Year 2023 Quarter 3: Earning Per Share 4.63 (USD).Trend:Increase 138.66% than previous quarter

Overall: decreasing (-22.32%). Fluctuation: **Significant** (high variation).



Financial statements from Q3 2022 to Q3 2023 show a mixed picture. Liabilities on revenue exhibit a decrease overall with significant volatility.  Current assets on revenue are increasing, also with considerable quarterly variations.  Cost efficiency, as measured by retained earnings to revenue, is increasing, but again with considerable quarterly changes. SG&A expenses are steadily increasing at a low rate, indicating some operational stability.  Investment efficiency shows small changes.  Earnings per share are decreasing with significant variations.