Working Capital Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2023 Quarter 1: Liabilities on Revenue 278.3 (%).Trend:Increase 645.71% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 207.55 (%).Trend:Decrease 25.42% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 134.86 (%).Trend:Decrease 35.02% than previous quarter

Overall: decreasing (-51.54%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 230.05 (%).Trend:Increase 236.97% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 71.63 (%).Trend:Decrease 68.86% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 61.12 (%).Trend:Decrease 14.67% than previous quarter

Overall: decreasing (-73.43%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 38.23 (%).Trend:Decrease 29507.69% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 29.16 (%).Trend:Decrease 23.72% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 23.38 (%).Trend:Decrease 19.82% than previous quarter

Overall: decreasing (-38.84%). Fluctuation: **Neutral** (moderate variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 10.39 (%).Trend:Decrease 4.24% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 10.83 (%).Trend:Increase 4.23% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 11.08 (%).Trend:Increase 2.31% than previous quarter

Overall: increasing (6.64%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 1 in 2023 to Quater 3 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2023 Quarter 1: Retained Earning on Assets 2.33 (%).Trend:Decrease 7866.67% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 3.18 (%).Trend:Increase 36.48% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 3.38 (%).Trend:Increase 6.29% than previous quarter

Overall: increasing (45.06%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.72 (USD).Trend:Increase 16.13% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.3 (USD).Trend:Increase 80.56% than previous quarter
Year 2023 Quarter 3: Earning Per Share 1.6 (USD).Trend:Increase 23.08% than previous quarter

Overall: increasing (122.22%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2023 to Q3 2023 shows mixed trends. Working capital efficiency (liabilities and current assets on revenue) is decreasing with substantial variation. Cost efficiency (ratio of retained earnings to revenue) also decreases with moderate fluctuation. Selling, general, and administrative (SG&A) expenses show an increase overall, with a low variation. Investment efficiency (retained earnings on assets) and earning per share both show increases with significant variation.