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 125.7 (%).Trend:Increase 250.43% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 60.18 (%).Trend:Decrease 52.12% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 40.42 (%).Trend:Decrease 32.83% than previous quarter

Overall: decreasing (-67.84%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 147.63 (%).Trend:Increase 204.45% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 73.23 (%).Trend:Decrease 50.4% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 50.87 (%).Trend:Decrease 30.53% than previous quarter

Overall: decreasing (-65.54%). 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 263.22 (%).Trend:Increase 200.72% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 129.05 (%).Trend:Decrease 50.97% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 86.39 (%).Trend:Decrease 33.06% than previous quarter

Overall: decreasing (-67.18%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 27.73 (%).Trend:Increase 6.74% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 26.97 (%).Trend:Decrease 2.74% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 26.59 (%).Trend:Decrease 1.41% than previous quarter

Overall: decreasing (-4.11%). 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 44.24 (%).Trend:Increase 1.1% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 44.65 (%).Trend:Increase 0.93% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 44.98 (%).Trend:Increase 0.74% than previous quarter

Overall: increasing (1.67%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.82 (USD).Trend:Decrease 71.72% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.98 (USD).Trend:Increase 141.46% than previous quarter
Year 2023 Quarter 3: Earning Per Share 3.39 (USD).Trend:Increase 71.21% than previous quarter

Overall: increasing (313.41%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 2023 to Q3 2023 shows negative trends in working capital efficiency, liabilities, and current assets on revenue.  The retained earnings ratio also decreased significantly. The SG&A expense ratio slightly decreased, while investment efficiency showed consistent minor increases in retained earnings on assets. Earnings per share increased significantly.