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 74925400000.0 (%).Trend:Increase 4.5% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 75837400000.0 (%).Trend:Increase 1.22% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 71694900000.0 (%).Trend:Decrease 5.46% than previous quarter

Overall: decreasing (-4.31%). Fluctuation: **Little** (low variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 230589500000.0 (%).Trend:Increase 9.27% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 239525200000.0 (%).Trend:Increase 3.88% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 244012600000.0 (%).Trend:Increase 1.87% than previous quarter

Overall: increasing (5.82%). Fluctuation: **Little** (low 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 87097500000.0 (%).Trend:Increase 21.88% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 95206200000.0 (%).Trend:Increase 9.31% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 100370000000.0 (%).Trend:Increase 5.42% than previous quarter

Overall: increasing (15.24%). Fluctuation: **Little** (low variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 12014500000.0 (%).Trend:Decrease 63.56% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 24300200000.0 (%).Trend:Increase 102.26% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 36551500000.0 (%).Trend:Increase 50.42% than previous quarter

Overall: increasing (204.23%). Fluctuation: **Significant** (high 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 21.44 (%).Trend:Increase 8.61% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 22.74 (%).Trend:Increase 6.06% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 23.67 (%).Trend:Increase 4.09% than previous quarter

Overall: increasing (10.4%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.79 (USD).Trend:Decrease 68.02% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.48 (USD).Trend:Increase 87.34% than previous quarter
Year 2023 Quarter 3: Earning Per Share 1.95 (USD).Trend:Increase 31.76% than previous quarter

Overall: increasing (146.84%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 2023 to Q3 2023 indicates a decreasing trend in liabilities relative to revenue, potentially signaling a slowdown in growth.  Current assets relative to revenue, however, demonstrate an increasing trend.  Profitability, as measured by the retained earnings to revenue ratio, continues to improve, showing a consistent upward trend.  The SG&A expense ratio shows marked fluctuations.  Investment efficiency and earnings per share show an increase, despite significant variation.