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

Liabilities on Revenue
Year 2022 Quarter 2: Liabilities on Revenue 40.58 (%).Trend:Decrease 46.37% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 28.49 (%).Trend:Decrease 29.79% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 43.34 (%).Trend:Increase 52.12% than previous quarter

Overall: increasing (6.8%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2022 Quarter 2: Current assets on Revenue 54.42 (%).Trend:Decrease 46.71% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 36.32 (%).Trend:Decrease 33.26% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 55.83 (%).Trend:Increase 53.72% than previous quarter

Overall: increasing (2.59%). Fluctuation: **Neutral** (moderate variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue 37.87 (%).Trend:Decrease 49.26% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 25.93 (%).Trend:Decrease 31.53% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 41.29 (%).Trend:Increase 59.24% than previous quarter

Overall: increasing (9.03%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 14.04 (%).Trend:Decrease 6.65% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 13.9 (%).Trend:Decrease 1.0% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 13.73 (%).Trend:Decrease 1.22% than previous quarter

Overall: decreasing (-2.21%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 2: Retained Earning on Assets 33.06 (%).Trend:Decrease 1.37% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 34.51 (%).Trend:Increase 4.39% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 37.42 (%).Trend:Increase 8.43% than previous quarter

Overall: increasing (13.19%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 2: Earning Per Share 3.63 (USD).Trend:Increase 120.0% than previous quarter
Year 2022 Quarter 3: Earning Per Share 5.0 (USD).Trend:Increase 37.74% than previous quarter
Year 2023 Quarter 2: Earning Per Share 3.0 (USD).Trend:Decrease 40.0% than previous quarter

Overall: decreasing (-17.36%). Fluctuation: **Significant** (high variation).



Financial performance from Q2 2022 to Q2 2023 shows a mixed picture. Working capital efficiency, measured by liabilities and current assets on revenue, is increasing slightly.  Cost efficiency, as measured by SG&A expense ratio, is decreasing steadily, while the ratio of retained earnings to revenue is also increasing, though fluctuating. Investment efficiency, as seen by retained earnings on assets, is generally increasing, but earnings per share are decreasing.  Moderate variation is apparent in most metrics, except for a significant fluctuation in earnings per share.