Working Capital Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2023 Quarter 1: Liabilities on Revenue 43.97 (%).Trend:Increase 211.18% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 21.96 (%).Trend:Decrease 50.06% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 15.86 (%).Trend:Decrease 27.78% than previous quarter

Overall: decreasing (-63.93%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 164.37 (%).Trend:Increase 275.36% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 83.86 (%).Trend:Decrease 48.98% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 59.05 (%).Trend:Decrease 29.59% than previous quarter

Overall: decreasing (-64.07%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 295.78 (%).Trend:Increase 310.41% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 148.61 (%).Trend:Decrease 49.76% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 104.08 (%).Trend:Decrease 29.96% than previous quarter

Overall: decreasing (-64.81%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 4.48 (%).Trend:Decrease 6.67% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 4.62 (%).Trend:Increase 3.12% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 4.55 (%).Trend:Decrease 1.52% than previous quarter

Overall: increasing (1.56%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2023 Quarter 1: Retained Earning on Assets 79.89 (%).Trend:Increase 8.43% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 81.17 (%).Trend:Increase 1.6% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 82.03 (%).Trend:Increase 1.06% than previous quarter

Overall: increasing (2.68%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 4.47 (USD).Trend:Decrease 81.3% than previous quarter
Year 2022 Quarter 3: Earning Per Share 10.28 (USD).Trend:Increase 129.98% than previous quarter
Year 2023 Quarter 3: Earning Per Share 14.86 (USD).Trend:Increase 44.55% than previous quarter

Overall: increasing (232.44%). Fluctuation: **Significant** (high variation).



Financial analysis from Q1 2023 to Q3 2023 shows significant volatility across various metrics. Working capital efficiency (liabilities and current assets on revenue) decreased significantly (-63.93% and -64.07% respectively).  Cost efficiency, measured by the retained earnings-to-revenue ratio, also decreased noticeably (-64.81%).  However, investment efficiency increased modestly (2.68%), while earnings per share saw a substantial rise (232.44%). These trends suggest substantial changes in profitability and asset management strategies.