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

Liabilities on Revenue
Year 2022 Quarter 3: Liabilities on Revenue 26.18 (%).Trend:Decrease 33.21% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 70.89 (%).Trend:Increase 170.78% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 33.8 (%).Trend:Decrease 52.32% than previous quarter

Overall: increasing (29.11%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 52.49 (%).Trend:Decrease 31.11% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 145.56 (%).Trend:Increase 177.31% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 68.33 (%).Trend:Decrease 53.06% than previous quarter

Overall: increasing (30.18%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 38.63 (%).Trend:Decrease 28.61% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 126.75 (%).Trend:Increase 228.11% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 65.53 (%).Trend:Decrease 48.3% than previous quarter

Overall: increasing (69.63%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 11.79 (%).Trend:Decrease 2.96% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 12.75 (%).Trend:Increase 8.14% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 12.35 (%).Trend:Decrease 3.14% than previous quarter

Overall: increasing (4.75%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 3: Retained Earning on Assets 24.74 (%).Trend:Increase 7.29% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 27.24 (%).Trend:Increase 10.11% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 29.06 (%).Trend:Increase 6.68% than previous quarter

Overall: increasing (17.46%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 6.07 (USD).Trend:Increase 70.51% than previous quarter
Year 2023 Quarter 1: Earning Per Share 1.34 (USD).Trend:Decrease 77.92% than previous quarter
Year 2023 Quarter 2: Earning Per Share 3.48 (USD).Trend:Increase 159.7% than previous quarter

Overall: decreasing (-42.67%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2022 to Q2 2023 highlights substantial quarter-on-quarter variations. Working capital efficiency, represented by liabilities and current assets on revenue, shows substantial increases and decreases, signaling volatility. Cost efficiency, as measured by retained earnings to revenue and SG&A expense ratios, reveals a generally increasing trend, but with noteworthy fluctuations.  Investment efficiency, measured by retained earnings on assets, exhibits a steady increasing trend. Earnings per share, however, shows substantial fluctuations.  Further analysis is warranted to understand the causes of these variations.