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 98.53 (%).Trend:Increase 144.98% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 45.24 (%).Trend:Decrease 54.09% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 28.11 (%).Trend:Decrease 37.86% than previous quarter

Overall: decreasing (-71.47%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 286.32 (%).Trend:Increase 146.0% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 143.88 (%).Trend:Decrease 49.75% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 95.52 (%).Trend:Decrease 33.61% than previous quarter

Overall: decreasing (-66.64%). Fluctuation: **Significant** (high 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 591.34 (%).Trend:Increase 180.67% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 289.14 (%).Trend:Decrease 51.1% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 187.6 (%).Trend:Decrease 35.12% than previous quarter

Overall: decreasing (-68.28%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 3.71 (%).Trend:Decrease 12.29% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 3.56 (%).Trend:Decrease 4.04% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 3.39 (%).Trend:Decrease 4.78% than previous quarter

Overall: decreasing (-8.63%). Fluctuation: **Little** (low variation).


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 63.58 (%).Trend:Increase 2.04% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 64.14 (%).Trend:Increase 0.88% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 65.16 (%).Trend:Increase 1.59% than previous quarter

Overall: increasing (2.49%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 0.72 (USD).Trend:Decrease 52.94% than previous quarter
Year 2021 Quarter 2: Earning Per Share 1.26 (USD).Trend:Increase 75.0% than previous quarter
Year 2021 Quarter 3: Earning Per Share 2.81 (USD).Trend:Increase 123.02% than previous quarter

Overall: increasing (290.28%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 to Q3 2021 highlights significant fluctuations in key metrics. Working capital efficiency, measured by liabilities and current assets on revenue, declined substantially with high variation.  Cost efficiency, measured by the SG&A expense ratio, decreased steadily with low variation.  However, the ratio of retained earnings to revenue, and earnings per share (EPS) show considerable fluctuation, with substantial decreases and increases. Investment efficiency (retained earnings on assets) shows a steady upward trend.