Working Capital Efficiency
The data from Quater 2 in 2022 to Quater 2 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 2: Liabilities on Revenue 138.82 (%).Trend:Decrease 55.23% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 87.35 (%).Trend:Decrease 37.08% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 60.36 (%).Trend:Decrease 30.9% than previous quarter

Overall: decreasing (-56.52%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 77.97 (%).Trend:Decrease 45.99% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 40.51 (%).Trend:Decrease 48.04% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 64.44 (%).Trend:Increase 59.07% than previous quarter

Overall: decreasing (-17.35%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 2 in 2022 to Quater 2 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue 384.12 (%).Trend:Decrease 47.71% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 264.04 (%).Trend:Decrease 31.26% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 463.88 (%).Trend:Increase 75.69% than previous quarter

Overall: increasing (20.76%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 17.16 (%).Trend:Decrease 1.66% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 17.07 (%).Trend:Decrease 0.52% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 12.5 (%).Trend:Decrease 26.77% than previous quarter

Overall: decreasing (-27.16%). Fluctuation: **Neutral** (moderate variation).


Invest Efficiency
The data from Quater 2 in 2022 to Quater 2 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 2: Retained Earning on Assets 77.85 (%).Trend:Increase 11.5% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 85.83 (%).Trend:Increase 10.25% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 142.59 (%).Trend:Increase 66.13% than previous quarter

Overall: increasing (83.16%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share 4.41 (USD).Trend:Increase 40.0% than previous quarter
Year 2022 Quarter 3: Earning Per Share 5.0 (USD).Trend:Increase 13.38% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.0 (USD).Trend:Decrease 80.0% than previous quarter

Overall: decreasing (-77.32%). Fluctuation: **Significant** (high variation).



Financial analysis for Q2 2022 to Q2 2023 reveals substantial fluctuation in working capital efficiency and cost efficiency. While working capital efficiency decreases overall, cost efficiency (ratio of retained earnings to revenue) is increasing.  Selling, general, and administrative (SG&A) expenses also decrease, and investment efficiency and earnings per share show significant variation but increase overall.