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 44.45 (%).Trend:Decrease 30.31% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 57.34 (%).Trend:Increase 29.0% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 40.99 (%).Trend:Decrease 28.51% than previous quarter

Overall: decreasing (-7.78%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 47.25 (%).Trend:Decrease 29.42% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 61.11 (%).Trend:Increase 29.33% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 48.07 (%).Trend:Decrease 21.34% than previous quarter

Overall: increasing (1.74%). Fluctuation: **Neutral** (moderate 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 -140.68 (%).Trend:Decrease 34.88% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -171.41 (%).Trend:Increase 21.84% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue -114.95 (%).Trend:Decrease 32.94% than previous quarter

Overall: increasing (-18.29%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 20.5 (%).Trend:Increase 2.04% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 15.59 (%).Trend:Decrease 23.95% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 16.37 (%).Trend:Increase 5.0% than previous quarter

Overall: decreasing (-20.15%). Fluctuation: **Neutral** (moderate 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 -103.49 (%).Trend:Decrease 3.63% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -103.74 (%).Trend:Increase 0.24% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets -96.89 (%).Trend:Decrease 6.6% than previous quarter

Overall: increasing (-6.38%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial performance from Q3 2022 to Q3 2023 exhibits mixed trends.  Working capital efficiency, as measured by liabilities and current assets on revenue, displays a slight overall decrease in liabilities and a slight increase in current assets. Cost efficiency, indicated by the ratio of retained earnings to revenue, is increasing but exhibits high variability. The selling, general, and administrative (SG&A) expense ratio is decreasing, showing moderate fluctuation.  Invest efficiency, measured by retained earnings on assets, displays a small upward trend but with significant quarter-to-quarter variations.