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 complex financial picture.  Working capital efficiency shows a decline in both liabilities and current assets on revenue, potentially signifying improvements in short-term financial management.  Cost efficiency indicates a slight rise in SG&A expense ratios, while the ratio of retained earnings to revenue increased overall, but with significant fluctuations.  This suggests a possible increase in operational costs, but issues with profitability may still exist.  Investment efficiency, as measured by retained earnings on assets, shows a steady decline.