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 81.58 (%).Trend:Increase 188.37% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 44.95 (%).Trend:Decrease 44.9% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 31.52 (%).Trend:Decrease 29.88% than previous quarter

Overall: decreasing (-61.36%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 215.0 (%).Trend:Increase 218.9% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 104.87 (%).Trend:Decrease 51.22% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 73.41 (%).Trend:Decrease 30.0% than previous quarter

Overall: decreasing (-65.86%). 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 172.2 (%).Trend:Increase 238.38% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 87.84 (%).Trend:Decrease 48.99% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 61.45 (%).Trend:Decrease 30.04% than previous quarter

Overall: decreasing (-64.31%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 11.64 (%).Trend:Increase 3.1% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.85 (%).Trend:Increase 1.8% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 11.87 (%).Trend:Increase 0.17% than previous quarter

Overall: increasing (1.98%). 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 33.3 (%).Trend:Increase 5.28% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 34.75 (%).Trend:Increase 4.35% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 35.98 (%).Trend:Increase 3.54% than previous quarter

Overall: increasing (8.05%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.74 (USD).Trend:Decrease 68.38% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.51 (USD).Trend:Increase 104.05% than previous quarter
Year 2023 Quarter 3: Earning Per Share 2.37 (USD).Trend:Increase 56.95% than previous quarter

Overall: increasing (220.27%). Fluctuation: **Significant** (high variation).



The financial analysis for Q1 2023 to Q3 2023 indicates decreasing trends in working capital efficiency metrics, including liabilities and current assets on revenue and the ratio of retained earnings to revenue.  Significant fluctuation is apparent. In contrast, selling, general, and administrative (SG&A) expense ratio shows a consistent, modest upward trend.  Retained earning on assets and earning per share display consistent increases, though the latter with substantial variation.