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 24.12 (%).Trend:Decrease 31.63% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 32.65 (%).Trend:Increase 35.36% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 23.95 (%).Trend:Decrease 26.65% than previous quarter

Overall: decreasing (-0.7%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 33.56 (%).Trend:Decrease 35.5% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 43.22 (%).Trend:Increase 28.78% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 29.15 (%).Trend:Decrease 32.55% than previous quarter

Overall: decreasing (-13.14%). 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 27.52 (%).Trend:Decrease 28.67% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 47.99 (%).Trend:Increase 74.38% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 31.34 (%).Trend:Decrease 34.69% than previous quarter

Overall: increasing (13.88%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio

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 29.01 (%).Trend:Increase 7.25% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 30.68 (%).Trend:Increase 5.76% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 29.45 (%).Trend:Decrease 4.01% than previous quarter

Overall: increasing (1.52%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 9.27 (USD).Trend:Increase 46.91% than previous quarter
Year 2023 Quarter 2: Earning Per Share 4.62 (USD).Trend:Decrease 50.16% than previous quarter
Year 2023 Quarter 3: Earning Per Share 5.93 (USD).Trend:Increase 28.35% than previous quarter

Overall: decreasing (-36.03%). Fluctuation: **Significant** (high variation).



Financial analysis from Q3 2022 to Q3 2023 shows a mostly negative trend in working capital efficiency, with both liabilities and current assets on revenue experiencing decreases. Cost efficiency, measured by the retained earnings to revenue ratio, shows an overall increase, but with large quarter-to-quarter changes. Investment efficiency (retained earnings on assets) displays a small overall increase with minimal variation. Earnings per share shows a negative overall trend with substantial quarter-to-quarter swings.