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 99.16 (%).Trend:Increase 346.67% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 55.9 (%).Trend:Decrease 43.63% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 34.97 (%).Trend:Decrease 37.44% than previous quarter

Overall: decreasing (-64.73%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 60.99 (%).Trend:Increase 347.14% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 24.17 (%).Trend:Decrease 60.37% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 31.3 (%).Trend:Increase 29.5% than previous quarter

Overall: decreasing (-48.68%). 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 50.84 (%).Trend:Increase 1870.54% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 36.12 (%).Trend:Decrease 28.95% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 34.89 (%).Trend:Decrease 3.41% than previous quarter

Overall: decreasing (-31.37%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 2.1 (%).Trend:Increase 45.83% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 2.03 (%).Trend:Decrease 3.33% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 1.81 (%).Trend:Decrease 10.84% than previous quarter

Overall: decreasing (-13.81%). 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 3.51 (%).Trend:Increase 328.05% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 4.97 (%).Trend:Increase 41.6% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 7.62 (%).Trend:Increase 53.32% than previous quarter

Overall: increasing (117.09%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 3.88 (USD).Trend:Decrease 79.57% than previous quarter
Year 2023 Quarter 2: Earning Per Share 6.95 (USD).Trend:Increase 79.12% than previous quarter
Year 2023 Quarter 3: Earning Per Share 12.01 (USD).Trend:Increase 72.81% than previous quarter

Overall: increasing (209.54%). Fluctuation: **Significant** (high variation).



Financial performance for Q1-Q3 2023 exhibits several key trends. Working capital efficiency is problematic due to the substantial decrease in both liabilities and current assets on revenue with high variability. Cost efficiency shows a slight yet concerning trend of declining retained earnings to revenue ratios.  Positive signs are evident in both the increase of investment efficiency with significant fluctuation, and increasing earnings per share.  Overall, the financial performance is mixed, highlighting areas of concern.