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 29.0 (%).Trend:Decrease 34.58% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 37.08 (%).Trend:Increase 27.86% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 26.1 (%).Trend:Decrease 29.61% than previous quarter

Overall: decreasing (-10.0%). Fluctuation: **Neutral** (moderate variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 16.68 (%).Trend:Decrease 28.5% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 18.26 (%).Trend:Increase 9.47% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 9.77 (%).Trend:Decrease 46.5% than previous quarter

Overall: decreasing (-41.43%). Fluctuation: **Significant** (high 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 30.92 (%).Trend:Decrease 34.07% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 49.88 (%).Trend:Increase 61.32% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 35.06 (%).Trend:Decrease 29.71% than previous quarter

Overall: increasing (13.39%). Fluctuation: **Neutral** (moderate 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 11.75 (%).Trend:Decrease 0.51% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 15.24 (%).Trend:Increase 29.7% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 15.23 (%).Trend:Decrease 0.07% than previous quarter

Overall: increasing (29.62%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 2.0 (USD).Trend:Increase 1.52% than previous quarter
Year 2023 Quarter 2: Earning Per Share 2.0 (USD).Trend:Increase 0.0% than previous quarter
Year 2023 Quarter 3: Earning Per Share 2.0 (USD).Trend:Increase 0.0% than previous quarter

Overall: stable (0.0%). Fluctuation: **Little** (low variation).



Financial analysis from Q3 2022 to Q3 2023 shows mixed results. Liabilities on revenue decreased slightly with neutral fluctuation. Current assets on revenue decreased significantly with high fluctuation. Cost efficiency (ratio of retained earnings to revenue) increased modestly with neutral fluctuation. Investment efficiency and earnings per share both showed increases with neutral and little fluctuation, respectively.