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

Liabilities on Revenue
Year 2022 Quarter 3: Liabilities on Revenue 36.4 (%).Trend:Decrease 24.29% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 46.72 (%).Trend:Increase 28.35% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 31.98 (%).Trend:Decrease 31.55% than previous quarter

Overall: decreasing (-12.14%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 59.21 (%).Trend:Decrease 29.49% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 81.9 (%).Trend:Increase 38.32% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 54.72 (%).Trend:Decrease 33.19% than previous quarter

Overall: decreasing (-7.58%). Fluctuation: **Neutral** (moderate variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 65.16 (%).Trend:Decrease 36.52% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 94.46 (%).Trend:Increase 44.97% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 64.37 (%).Trend:Decrease 31.85% than previous quarter

Overall: decreasing (-1.21%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 4.98 (%).Trend:Decrease 4.6% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 5.33 (%).Trend:Increase 7.03% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 5.26 (%).Trend:Decrease 1.31% than previous quarter

Overall: increasing (5.62%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 3: Retained Earning on Assets 75.41 (%).Trend:Decrease 5.36% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 79.36 (%).Trend:Increase 5.24% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 80.95 (%).Trend:Increase 2.0% than previous quarter

Overall: increasing (7.35%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 3.2 (USD).Trend:Increase 95.12% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.91 (USD).Trend:Decrease 40.31% than previous quarter
Year 2023 Quarter 3: Earning Per Share 4.26 (USD).Trend:Increase 123.04% than previous quarter

Overall: increasing (33.12%). Fluctuation: **Significant** (high variation).



Financial statements for Q3 2022 to Q3 2023 show a mixed financial picture.  Liabilities and current assets on revenue are decreasing, which could signal improved working capital management. Cost efficiency also displays a slight decline in the ratio of retained earnings to revenue, but a modest increase in SG&A expense ratio. Conversely, investment efficiency demonstrates an overall increase in retained earnings on assets, implying better asset utilization.  However, earnings per share show high volatility, indicating potential for strong growth, but also significant risks of unexpected downturns.