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 87.52 (%).Trend:Increase 195.18% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 44.37 (%).Trend:Decrease 49.3% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 29.21 (%).Trend:Decrease 34.17% than previous quarter

Overall: decreasing (-66.62%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 86.01 (%).Trend:Increase 160.56% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 43.28 (%).Trend:Decrease 49.68% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 29.11 (%).Trend:Decrease 32.74% than previous quarter

Overall: decreasing (-66.16%). 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 -17.98 (%).Trend:Increase 145.29% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue -8.57 (%).Trend:Decrease 52.34% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue -4.56 (%).Trend:Decrease 46.79% than previous quarter

Overall: increasing (-74.64%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 18.12 (%).Trend:Decrease 0.6% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 18.55 (%).Trend:Increase 2.37% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 18.64 (%).Trend:Increase 0.49% than previous quarter

Overall: increasing (2.87%). 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 -9.38 (%).Trend:Decrease 11.43% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets -8.68 (%).Trend:Decrease 7.46% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets -6.91 (%).Trend:Decrease 20.39% than previous quarter

Overall: increasing (-26.33%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 1.79 (USD).Trend:Decrease 41.5% than previous quarter
Year 2023 Quarter 2: Earning Per Share 2.7 (USD).Trend:Increase 50.84% than previous quarter
Year 2023 Quarter 3: Earning Per Share 4.52 (USD).Trend:Increase 67.41% than previous quarter

Overall: increasing (152.51%). Fluctuation: **Significant** (high variation).



The analysis from Q1 2023 to Q3 2023 highlights significant volatility in working capital efficiency, with both liabilities and current assets on revenue decreasing substantially. Cost efficiency shows improving retained earnings ratios but rising SG&A expenses. Investment efficiency indicates improving retained earnings on assets.  Earnings per share increased significantly, suggesting positive growth despite the volatility.