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

Liabilities on Revenue
Year 2022 Quarter 3: Liabilities on Revenue 21.64 (%).Trend:Decrease 32.67% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 71.35 (%).Trend:Increase 229.71% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 31.82 (%).Trend:Decrease 55.4% than previous quarter

Overall: increasing (47.04%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 29.29 (%).Trend:Decrease 26.68% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 95.1 (%).Trend:Increase 224.68% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 38.12 (%).Trend:Decrease 59.92% than previous quarter

Overall: increasing (30.15%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 28.15 (%).Trend:Decrease 21.39% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 117.66 (%).Trend:Increase 317.98% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 65.45 (%).Trend:Decrease 44.37% than previous quarter

Overall: increasing (132.5%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 17.42 (%).Trend:Increase 3.38% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 18.26 (%).Trend:Increase 4.82% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 19.24 (%).Trend:Increase 5.37% than previous quarter

Overall: increasing (10.45%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 3: Retained Earning on Assets 38.41 (%).Trend:Increase 8.35% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 45.99 (%).Trend:Increase 19.73% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 52.42 (%).Trend:Increase 13.98% than previous quarter

Overall: increasing (36.47%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 8.04 (USD).Trend:Increase 36.27% than previous quarter
Year 2023 Quarter 1: Earning Per Share 2.03 (USD).Trend:Decrease 74.75% than previous quarter
Year 2023 Quarter 2: Earning Per Share 3.6 (USD).Trend:Increase 77.34% than previous quarter

Overall: decreasing (-55.22%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2022 to Q2 2023 reveals a volatile financial performance. Working capital efficiency metrics (liabilities and current assets on revenue) show considerable fluctuations. Cost efficiency (ratio of retained earnings to revenue) also shows substantial, but fluctuating, increases.  SG&A expenses continue an upward trend.  Investment efficiency demonstrates a neutral, steady increase. Earnings per share show large fluctuations, dropping in Q1 2023 before rising again in Q2.