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 47.75 (%).Trend:Increase 228.63% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 27.97 (%).Trend:Decrease 41.42% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 20.82 (%).Trend:Decrease 25.56% than previous quarter

Overall: decreasing (-56.4%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 180.68 (%).Trend:Increase 211.36% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 97.74 (%).Trend:Decrease 45.9% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 61.42 (%).Trend:Decrease 37.16% than previous quarter

Overall: decreasing (-66.01%). 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 -88.68 (%).Trend:Increase 1736.02% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -48.19 (%).Trend:Decrease 45.66% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue -34.79 (%).Trend:Decrease 27.81% than previous quarter

Overall: increasing (-60.77%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 7.07 (%).Trend:Increase 37.02% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 7.11 (%).Trend:Increase 0.57% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 7.16 (%).Trend:Increase 0.7% than previous quarter

Overall: increasing (1.27%). 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 -6.54 (%).Trend:Increase 367.14% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -6.9 (%).Trend:Increase 5.5% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets -7.55 (%).Trend:Increase 9.42% than previous quarter

Overall: decreasing (15.44%). Fluctuation: **Significant** (high variation).

Earning Per Share


Financial analysis for Q1 2023 to Q3 2023 reveals a mixed picture. Working capital efficiency showed a decrease in both liabilities and current assets on revenue, suggesting a potential improvement in managing short-term assets and liabilities.  Cost efficiency data indicated an overall increase in the selling, general, and administrative (SG&A) expense ratio, indicating a potential increase in operational costs. However, the ratio of retained earnings to revenue exhibited significant volatility, trending upward despite negative values, implying potential problems. Investment efficiency, as measured by retained earnings on assets, shows a consistent decrease despite some minor changes.