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 100.28 (%).Trend:Increase 118.0% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 50.09 (%).Trend:Decrease 50.05% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 41.51 (%).Trend:Decrease 17.13% than previous quarter

Overall: decreasing (-58.61%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 135.94 (%).Trend:Increase 211.57% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 74.61 (%).Trend:Decrease 45.12% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 55.56 (%).Trend:Decrease 25.53% than previous quarter

Overall: decreasing (-59.13%). 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 170.49 (%).Trend:Increase 294.29% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 111.45 (%).Trend:Decrease 34.63% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 74.94 (%).Trend:Decrease 32.76% than previous quarter

Overall: decreasing (-56.04%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 9.09 (%).Trend:Increase 12.92% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.7 (%).Trend:Increase 28.71% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 12.02 (%).Trend:Increase 2.74% than previous quarter

Overall: increasing (32.23%). Fluctuation: **Neutral** (moderate 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 30.48 (%).Trend:Increase 38.67% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 33.21 (%).Trend:Increase 8.96% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 31.71 (%).Trend:Decrease 4.52% than previous quarter

Overall: increasing (4.04%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 4.22 (USD).Trend:Decrease 26.86% than previous quarter
Year 2023 Quarter 2: Earning Per Share 5.65 (USD).Trend:Increase 33.89% than previous quarter
Year 2023 Quarter 3: Earning Per Share 5.38 (USD).Trend:Decrease 4.78% than previous quarter

Overall: increasing (27.49%). Fluctuation: **Neutral** (moderate variation).



Financial analysis from Q1 2023 to Q3 2023 indicates volatility. Working capital efficiency (liabilities and current assets on revenue) shows a significant decrease with high variability.  Cost efficiency (SG&A expense ratio) is increasing, but with moderate variation.  Retained earnings to revenue is decreasing significantly. Investment efficiency is increasing steadily, with low variation. Earning per share is also increasing with moderate variation. The data reveals a need to explore the underlying factors influencing the inconsistent performance trends.