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 51.89 (%).Trend:Increase 148.63% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 26.47 (%).Trend:Decrease 48.99% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 17.24 (%).Trend:Decrease 34.87% than previous quarter

Overall: decreasing (-66.78%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 52.78 (%).Trend:Increase 175.04% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 27.69 (%).Trend:Decrease 47.54% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 18.1 (%).Trend:Decrease 34.63% than previous quarter

Overall: decreasing (-65.71%). 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 18.29 (%).Trend:Increase 257.93% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 10.02 (%).Trend:Decrease 45.22% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 7.6 (%).Trend:Decrease 24.15% than previous quarter

Overall: decreasing (-58.45%). Fluctuation: **Significant** (high variation).

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

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 4.55 (%).Trend:Increase 28.9% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 5.03 (%).Trend:Increase 10.55% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 5.83 (%).Trend:Increase 15.9% than previous quarter

Overall: increasing (28.13%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.06 (USD).Trend:Decrease 45.45% than previous quarter
Year 2023 Quarter 2: Earning Per Share 0.16 (USD).Trend:Increase 166.67% than previous quarter
Year 2023 Quarter 3: Earning Per Share 0.3 (USD).Trend:Increase 87.5% than previous quarter

Overall: increasing (400.0%). Fluctuation: **Significant** (high variation).



Analysis of Q1 2023 - Q3 2023 reveals significant volatility in key financial ratios.  A sharp decrease in liabilities and current assets on revenue suggests potential working capital challenges despite an overall increase in earnings per share. The significant drop in retained earnings to revenue ratio signals concern, contrasting with the positive trend in retained earnings on assets. This inconsistency warrants further investigation into operational efficiency and profitability drivers. SG&A expense data is missing.