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 44.99 (%).Trend:Increase 128.72% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 24.97 (%).Trend:Decrease 44.5% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 17.27 (%).Trend:Decrease 30.84% than previous quarter

Overall: decreasing (-61.61%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 128.47 (%).Trend:Increase 171.95% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 68.93 (%).Trend:Decrease 46.35% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 44.41 (%).Trend:Decrease 35.57% than previous quarter

Overall: decreasing (-65.43%). 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 32.38 (%).Trend:Increase 415.61% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 19.44 (%).Trend:Decrease 39.96% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 13.65 (%).Trend:Decrease 29.78% than previous quarter

Overall: decreasing (-57.84%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 27.53 (%).Trend:Decrease 2.1% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 27.93 (%).Trend:Increase 1.45% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 29.15 (%).Trend:Increase 4.37% than previous quarter

Overall: increasing (5.88%). 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 12.37 (%).Trend:Increase 87.42% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 14.28 (%).Trend:Increase 15.44% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 15.16 (%).Trend:Increase 6.16% than previous quarter

Overall: increasing (22.55%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 0.55 (USD).Trend:Decrease 61.27% than previous quarter
Year 2023 Quarter 2: Earning Per Share 1.07 (USD).Trend:Increase 94.55% than previous quarter
Year 2023 Quarter 3: Earning Per Share 1.27 (USD).Trend:Increase 18.69% than previous quarter

Overall: increasing (130.91%). Fluctuation: **Significant** (high variation).



Financial performance from Q1 to Q3 2023 reveals a mixed bag.  Working capital efficiency, as measured by liabilities and current assets on revenue, decreased significantly.  Cost efficiency, measured by the ratio of retained earnings to revenue, also decreased notably. The SG&A expense ratio is increasing slightly.  Investment efficiency exhibits a neutral trend with moderate fluctuation. Earnings per share are increasing overall, but with substantial quarter-to-quarter variations. These results point to significant volatility in key financial indicators, suggesting a need for further analysis to identify the drivers of these fluctuations.