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 52.43 (%).Trend:Increase 221.07% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 23.4 (%).Trend:Decrease 55.37% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 16.08 (%).Trend:Decrease 31.28% than previous quarter

Overall: decreasing (-69.33%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 159.4 (%).Trend:Increase 260.06% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 79.67 (%).Trend:Decrease 50.02% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 55.79 (%).Trend:Decrease 29.97% than previous quarter

Overall: decreasing (-65.0%). 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 165.09 (%).Trend:Increase 235.82% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 87.82 (%).Trend:Decrease 46.8% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 61.21 (%).Trend:Decrease 30.3% than previous quarter

Overall: decreasing (-62.92%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 26.95 (%).Trend:Increase 3.22% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 27.75 (%).Trend:Increase 2.97% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 28.34 (%).Trend:Increase 2.13% than previous quarter

Overall: increasing (5.16%). 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 67.71 (%).Trend:Decrease 0.62% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 70.9 (%).Trend:Increase 4.71% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 71.27 (%).Trend:Increase 0.52% than previous quarter

Overall: increasing (5.26%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.95 (USD).Trend:Decrease 67.69% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.85 (USD).Trend:Increase 94.74% than previous quarter
Year 2023 Quarter 3: Earning Per Share 2.44 (USD).Trend:Increase 31.89% than previous quarter

Overall: increasing (156.84%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1-Q3 2023 reveals a mixed picture. Working capital efficiency (liabilities and current assets on revenue) shows a significant overall decrease with large quarterly swings. Cost efficiency, indicated by the ratio of retained earnings to revenue, also displays a substantial decline across the period.  However, the selling, general, and administrative (SG&A) expense ratio demonstrates a small but consistent increase.  Investment efficiency (retained earnings on assets) exhibits a relatively stable increase, while earnings per share show a considerable increase,  but with a substantial rise and fall in the trends for the first two quarters.