Working Capital Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Liabilities on Revenue
Year 2021 Quarter 1: Liabilities on Revenue 2252686800.0 (%).Trend:Increase 49.48% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 2077506600.0 (%).Trend:Decrease 7.78% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 2160581700.0 (%).Trend:Increase 4.0% than previous quarter

Overall: decreasing (-4.09%). Fluctuation: **Little** (low variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 2090335200.0 (%).Trend:Increase 66.62% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 1656321200.0 (%).Trend:Decrease 20.76% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 1486288100.0 (%).Trend:Decrease 10.27% than previous quarter

Overall: decreasing (-28.9%). Fluctuation: **Neutral** (moderate variation).


Cost Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2021 Quarter 1: Ratio of Retained Earnings to Revenue 3889210300.0 (%).Trend:Increase 3.86% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 4213794600.0 (%).Trend:Increase 8.35% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 4120565500.0 (%).Trend:Decrease 2.21% than previous quarter

Overall: increasing (5.95%). Fluctuation: **Little** (low variation).

Selling, General & Administrative (SG&A) Expense Ratio

Invest Efficiency
The data from Quater 1 in 2021 to Quater 3 in 2021 includes 3 quarters.

Retained Earning on Assets
Year 2021 Quarter 1: Retained Earning on Assets 13.21 (%).Trend:Decrease 3.58% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 14.42 (%).Trend:Increase 9.16% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 13.88 (%).Trend:Decrease 3.74% than previous quarter

Overall: increasing (5.07%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 0.58 (USD).Trend:Decrease 56.72% than previous quarter
Year 2021 Quarter 2: Earning Per Share 1.16 (USD).Trend:Increase 100.0% than previous quarter
Year 2021 Quarter 3: Earning Per Share 1.23 (USD).Trend:Increase 6.03% than previous quarter

Overall: increasing (112.07%). Fluctuation: **Significant** (high variation).



Financial analysis for the first three quarters of 2021 shows mixed results.  Liabilities on revenue are trending downward with little fluctuation, while current assets on revenue are decreasing significantly. Cost efficiency is positive, as shown by the rising retained earnings-to-revenue ratio (5.95% overall increase). Investment efficiency is stable (5.07% overall). Earnings per share increased notably (112.07%), but with high variation.