Working Capital Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2022 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 1: Liabilities on Revenue 66.43 (%).Trend:Increase 171.25% than previous quarter
Year 2022 Quarter 2: Liabilities on Revenue 36.57 (%).Trend:Decrease 44.95% than previous quarter
Year 2022 Quarter 3: Liabilities on Revenue 21.88 (%).Trend:Decrease 40.17% than previous quarter

Overall: decreasing (-67.06%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 1: Current assets on Revenue 99.07 (%).Trend:Increase 178.52% than previous quarter
Year 2022 Quarter 2: Current assets on Revenue 52.52 (%).Trend:Decrease 46.99% than previous quarter
Year 2022 Quarter 3: Current assets on Revenue 30.88 (%).Trend:Decrease 41.2% than previous quarter

Overall: decreasing (-68.83%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2022 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 1: Ratio of Retained Earnings to Revenue 55.9 (%).Trend:Increase 389.92% than previous quarter
Year 2022 Quarter 2: Ratio of Retained Earnings to Revenue 34.82 (%).Trend:Decrease 37.71% than previous quarter
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 27.77 (%).Trend:Decrease 20.25% than previous quarter

Overall: decreasing (-50.32%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 4.24 (%).Trend:Decrease 12.76% than previous quarter
Year 2022 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 4.0 (%).Trend:Decrease 5.66% than previous quarter
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 4.0 (%).Trend:Increase 0.0% than previous quarter

Overall: decreasing (-5.66%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 1 in 2022 to Quater 3 in 2022 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 1: Retained Earning on Assets 16.05 (%).Trend:Increase 87.94% than previous quarter
Year 2022 Quarter 2: Retained Earning on Assets 20.38 (%).Trend:Increase 26.98% than previous quarter
Year 2022 Quarter 3: Retained Earning on Assets 25.0 (%).Trend:Increase 22.67% than previous quarter

Overall: increasing (55.76%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 1: Earning Per Share 2.54 (USD).Trend:Decrease 59.1% than previous quarter
Year 2022 Quarter 2: Earning Per Share 5.37 (USD).Trend:Increase 111.42% than previous quarter
Year 2022 Quarter 3: Earning Per Share 7.62 (USD).Trend:Increase 41.9% than previous quarter

Overall: increasing (200.0%). Fluctuation: **Significant** (high variation).



Financial statement analysis highlights significant fluctuations. Liabilities and current assets on revenue show considerable decrease from Q1 to Q3 2022, then sharp increase in Q1 2023. Retained earnings to revenue ratio has a significant decline. SG&A expense ratio decreases slightly. Investment efficiency shows moderate increase in retained earning on assets. Earning per share (EPS) reveals significant volatility, increasing, decreasing, and then increasing again.