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 71.88 (%).Trend:Increase 163.59% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 32.17 (%).Trend:Decrease 55.24% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 21.35 (%).Trend:Decrease 33.63% than previous quarter

Overall: decreasing (-70.3%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 87.04 (%).Trend:Increase 169.81% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 40.42 (%).Trend:Decrease 53.56% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 27.29 (%).Trend:Decrease 32.48% than previous quarter

Overall: decreasing (-68.65%). 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 2.86 (%).Trend:Decrease 189.94% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 5.98 (%).Trend:Increase 109.09% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 6.72 (%).Trend:Increase 12.37% than previous quarter

Overall: increasing (134.97%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

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 0.87 (%).Trend:Decrease 133.59% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 3.59 (%).Trend:Increase 312.64% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 5.85 (%).Trend:Increase 62.95% than previous quarter

Overall: increasing (572.41%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.25 (USD).Trend:Decrease 327.27% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.59 (USD).Trend:Increase 136.0% than previous quarter
Year 2023 Quarter 3: Earning Per Share 0.9 (USD).Trend:Increase 52.54% than previous quarter

Overall: increasing (260.0%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 2023 to Q3 2023 reveals substantial fluctuations in financial metrics. Working capital efficiency, with decreases in both liabilities and current assets on revenue, presents instability.  However, cost efficiency demonstrates an overall increase (134.97%) in the ratio of retained earnings to revenue, though exhibiting substantial quarter-to-quarter variability. Investment efficiency and earnings per share similarly show increases with significant quarter-to-quarter variability, pointing to significant financial volatility.