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 91.1 (%).Trend:Increase 166.14% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 43.95 (%).Trend:Decrease 51.76% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 33.79 (%).Trend:Decrease 23.12% than previous quarter

Overall: decreasing (-62.91%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 209.37 (%).Trend:Increase 188.31% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 102.68 (%).Trend:Decrease 50.96% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 73.0 (%).Trend:Decrease 28.91% than previous quarter

Overall: decreasing (-65.13%). 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 -33.46 (%).Trend:Decrease 1386.92% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -14.9 (%).Trend:Decrease 55.47% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue -8.58 (%).Trend:Decrease 42.42% than previous quarter

Overall: increasing (-74.36%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 15.74 (%).Trend:Decrease 2.42% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 16.47 (%).Trend:Increase 4.64% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 16.51 (%).Trend:Increase 0.24% than previous quarter

Overall: increasing (4.89%). 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 -5.59 (%).Trend:Decrease 594.69% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -4.87 (%).Trend:Decrease 12.88% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets -4.09 (%).Trend:Decrease 16.02% than previous quarter

Overall: increasing (-26.83%). Fluctuation: **Significant** (high variation).

Earning Per Share


The financial analysis for Q1 to Q3 2023 reveals significant volatility in key performance indicators.  Working capital efficiency demonstrates fluctuating liabilities and current assets on revenue, implying potential instability in operational liquidity.  Cost efficiency shows a concerning upward trend in the SG&A expense ratio, alongside substantial swings in the ratio of retained earnings to revenue, highlighting potentially inconsistent cost management and revenue generation.  Investment efficiency, measured by retained earnings on assets, displays similar significant fluctuations.  Further investigation into the factors driving these fluctuations is crucial.