Working Capital Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 1: Liabilities on Revenue 60.15 (%).Trend:Increase 195.72% than previous quarter
Year 2022 Quarter 2: Liabilities on Revenue 30.16 (%).Trend:Decrease 49.86% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 21.29 (%).Trend:Decrease 29.41% than previous quarter

Overall: decreasing (-64.61%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 1: Current assets on Revenue 70.12 (%).Trend:Increase 168.04% than previous quarter
Year 2022 Quarter 2: Current assets on Revenue 36.1 (%).Trend:Decrease 48.52% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 26.18 (%).Trend:Decrease 27.48% than previous quarter

Overall: decreasing (-62.66%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 1: Ratio of Retained Earnings to Revenue 227.0 (%).Trend:Increase 198.96% than previous quarter
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue 114.65 (%).Trend:Decrease 49.49% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 76.67 (%).Trend:Decrease 33.13% than previous quarter

Overall: decreasing (-66.22%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 23.79 (%).Trend:Decrease 2.62% than previous quarter
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 23.67 (%).Trend:Decrease 0.5% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 23.62 (%).Trend:Decrease 0.21% than previous quarter

Overall: decreasing (-0.71%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 1: Retained Earning on Assets 55.86 (%).Trend:Increase 6.1% than previous quarter
Year 2022 Quarter 2: Retained Earning on Assets 56.94 (%).Trend:Increase 1.93% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 57.62 (%).Trend:Increase 1.19% than previous quarter

Overall: increasing (3.15%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 1: Earning Per Share 3.81 (USD).Trend:Decrease 67.35% than previous quarter
Year 2022 Quarter 2: Earning Per Share 7.51 (USD).Trend:Increase 97.11% than previous quarter
Year 2023 Quarter 3: Earning Per Share 11.87 (USD).Trend:Increase 58.06% than previous quarter

Overall: increasing (211.55%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 2022 to Q3 2023 reveals significant fluctuations in key performance indicators (KPIs).  Working capital efficiency exhibits declines in both liabilities and current assets as a percentage of revenue, with substantial quarter-to-quarter changes.  Cost efficiency, as measured by the ratio of retained earnings to revenue, is also trending downward significantly.  The selling, general, and administrative (SG&A) expense ratio shows a consistent, minor decline.  Investment efficiency, as measured by retained earnings on assets, shows a relatively stable and minor overall increase. Earnings per share, however, shows a significant increase (211.55%), with high variation.