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

Liabilities on Revenue
Year 2022 Quarter 1: Liabilities on Revenue 200.2 (%).Trend:Increase 202.28% than previous quarter
Year 2022 Quarter 2: Liabilities on Revenue 94.82 (%).Trend:Decrease 52.64% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 59.79 (%).Trend:Decrease 36.94% than previous quarter

Overall: decreasing (-70.13%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 1: Current assets on Revenue 173.99 (%).Trend:Increase 135.79% than previous quarter
Year 2022 Quarter 2: Current assets on Revenue 99.46 (%).Trend:Decrease 42.84% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 63.66 (%).Trend:Decrease 35.99% than previous quarter

Overall: decreasing (-63.41%). Fluctuation: **Significant** (high variation).


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

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 1: Ratio of Retained Earnings to Revenue -287.3 (%).Trend:Increase 251.39% than previous quarter
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue -161.56 (%).Trend:Decrease 43.77% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue -113.1 (%).Trend:Decrease 30.0% than previous quarter

Overall: increasing (-60.63%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 31.65 (%).Trend:Decrease 4.12% than previous quarter
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 34.56 (%).Trend:Increase 9.19% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 35.37 (%).Trend:Increase 2.34% than previous quarter

Overall: increasing (11.75%). Fluctuation: **Little** (low variation).


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

Retained Earning on Assets
Year 2022 Quarter 1: Retained Earning on Assets -75.2 (%).Trend:Increase 36.11% than previous quarter
Year 2022 Quarter 2: Retained Earning on Assets -78.94 (%).Trend:Increase 4.97% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets -83.55 (%).Trend:Increase 5.84% than previous quarter

Overall: decreasing (11.1%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2022 Quarter 1: Earning Per Share 0.34 (USD).Trend:Decrease 67.62% than previous quarter
Year 2022 Quarter 2: Earning Per Share 0.31 (USD).Trend:Decrease 8.82% than previous quarter
Year 2022 Quarter 3: Earning Per Share 0.39 (USD).Trend:Increase 25.81% than previous quarter

Overall: increasing (14.71%). Fluctuation: **Neutral** (moderate variation).



Financial statement analysis from Q1 2022 to Q3 2022 reveals significant fluctuations in working capital efficiency metrics. Liabilities on revenue decreased overall by 70.13%, but with substantial quarter-to-quarter variations. Current assets on revenue also decreased by 63.41%, exhibiting similar volatility.  Cost efficiency showed a mixed picture, with the SG&A expense ratio increasing steadily, while the retained earnings to revenue ratio increased overall but with significant volatility.  Investment efficiency, as measured by retained earnings on assets, decreased by 11.1%, also exhibiting considerable fluctuation.  Earnings per share showed a positive overall trend (+14.71%), but with quarterly volatility.