Working Capital Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2022 includes 3 quarters.

Liabilities on Revenue
Year 2021 Quarter 1: Liabilities on Revenue 50.55 (%).Trend:Increase 219.73% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 20.54 (%).Trend:Decrease 59.37% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 13.63 (%).Trend:Decrease 33.64% than previous quarter

Overall: decreasing (-73.04%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 115.89 (%).Trend:Increase 281.72% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 66.11 (%).Trend:Decrease 42.95% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 44.03 (%).Trend:Decrease 33.4% than previous quarter

Overall: decreasing (-62.01%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2022 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 145.01 (%).Trend:Increase 347.29% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 88.16 (%).Trend:Decrease 39.2% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 69.15 (%).Trend:Decrease 21.56% than previous quarter

Overall: decreasing (-52.31%). Fluctuation: **Significant** (high variation).

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

Invest Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2022 includes 3 quarters.

Retained Earning on Assets
Year 2021 Quarter 1: Retained Earning on Assets 80.83 (%).Trend:Increase 37.42% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 88.15 (%).Trend:Increase 9.06% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 100.61 (%).Trend:Increase 14.13% than previous quarter

Overall: increasing (24.47%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 1.59 (USD).Trend:Decrease 45.92% than previous quarter
Year 2021 Quarter 2: Earning Per Share 2.65 (USD).Trend:Increase 66.67% than previous quarter
Year 2022 Quarter 3: Earning Per Share 3.32 (USD).Trend:Increase 25.28% than previous quarter

Overall: increasing (108.81%). Fluctuation: **Significant** (high variation).



Financial analysis from Q1 2021 to Q3 2022 suggests a mixed performance.  Working capital metrics (liabilities and current assets on revenue) deteriorated substantially with significant fluctuation. Cost efficiency, as measured by retained earnings to revenue, also declined significantly.  However, investment efficiency (retained earnings on assets) improved, while earnings per share (EPS) rose overall, though with significant volatility.  Overall, the performance suggests areas for improvement in working capital management and cost efficiency.