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 112.36 (%).Trend:Increase 327.06% than previous quarter
Year 2021 Quarter 2: Liabilities on Revenue 50.93 (%).Trend:Decrease 54.67% than previous quarter
Year 2021 Quarter 3: Liabilities on Revenue 32.0 (%).Trend:Decrease 37.17% than previous quarter

Overall: decreasing (-71.52%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2021 Quarter 1: Current assets on Revenue 188.53 (%).Trend:Increase 262.14% than previous quarter
Year 2021 Quarter 2: Current assets on Revenue 95.02 (%).Trend:Decrease 49.6% than previous quarter
Year 2021 Quarter 3: Current assets on Revenue 68.57 (%).Trend:Decrease 27.84% than previous quarter

Overall: decreasing (-63.63%). 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 301.72 (%).Trend:Increase 314.39% than previous quarter
Year 2021 Quarter 2: Ratio of Retained Earnings to Revenue 149.62 (%).Trend:Decrease 50.41% than previous quarter
Year 2021 Quarter 3: Ratio of Retained Earnings to Revenue 102.34 (%).Trend:Decrease 31.6% than previous quarter

Overall: decreasing (-66.08%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2021 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 14.85 (%).Trend:Increase 11.82% than previous quarter
Year 2021 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 13.57 (%).Trend:Decrease 8.62% than previous quarter
Year 2021 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 12.33 (%).Trend:Decrease 9.14% than previous quarter

Overall: decreasing (-16.97%). 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 27.28 (%).Trend:Increase 15.06% than previous quarter
Year 2021 Quarter 2: Retained Earning on Assets 29.38 (%).Trend:Increase 7.7% than previous quarter
Year 2021 Quarter 3: Retained Earning on Assets 35.68 (%).Trend:Increase 21.44% than previous quarter

Overall: increasing (30.79%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2021 Quarter 1: Earning Per Share 0.37 (USD).Trend:Decrease 67.26% than previous quarter
Year 2021 Quarter 2: Earning Per Share 0.89 (USD).Trend:Increase 140.54% than previous quarter
Year 2021 Quarter 3: Earning Per Share 1.5 (USD).Trend:Increase 68.54% than previous quarter

Overall: increasing (305.41%). Fluctuation: **Significant** (high variation).



Financial analysis of Q1 to Q3 2021 indicates a decline in working capital efficiency (liabilities and current assets on revenue). Cost efficiency (retained earnings to revenue) also shows a notable decrease. However, SG&A expense ratio demonstrates a small decline. Investment efficiency shows a steady growth in retained earnings on assets, and earnings per share experienced a marked increase with high variation between quarters.