Working Capital Efficiency
The data from Quater 3 in 2022 to Quater 2 in 2023 includes 3 quarters.

Liabilities on Revenue
Year 2022 Quarter 3: Liabilities on Revenue 16.89 (%).Trend:Decrease 25.3% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 42.48 (%).Trend:Increase 151.51% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 21.07 (%).Trend:Decrease 50.4% than previous quarter

Overall: increasing (24.75%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 47.11 (%).Trend:Decrease 27.14% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 130.88 (%).Trend:Increase 177.82% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 67.0 (%).Trend:Decrease 48.81% than previous quarter

Overall: increasing (42.22%). Fluctuation: **Significant** (high variation).


Cost Efficiency
The data from Quater 3 in 2022 to Quater 2 in 2023 includes 3 quarters.

Ratio of Retained Earnings to Revenue
Year 2022 Quarter 3: Ratio of Retained Earnings to Revenue 52.63 (%).Trend:Decrease 33.12% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 148.39 (%).Trend:Increase 181.95% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 77.44 (%).Trend:Decrease 47.81% than previous quarter

Overall: increasing (47.14%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 20.07 (%).Trend:Decrease 1.47% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 18.85 (%).Trend:Decrease 6.08% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 18.65 (%).Trend:Decrease 1.06% than previous quarter

Overall: decreasing (-7.08%). Fluctuation: **Little** (low variation).


Invest Efficiency
The data from Quater 3 in 2022 to Quater 2 in 2023 includes 3 quarters.

Retained Earning on Assets
Year 2022 Quarter 3: Retained Earning on Assets 60.7 (%).Trend:Decrease 2.93% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 63.72 (%).Trend:Increase 4.98% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 65.16 (%).Trend:Increase 2.26% than previous quarter

Overall: increasing (7.35%). Fluctuation: **Little** (low variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 4.63 (USD).Trend:Increase 61.89% than previous quarter
Year 2023 Quarter 1: Earning Per Share 2.0 (USD).Trend:Decrease 56.8% than previous quarter
Year 2023 Quarter 2: Earning Per Share 4.0 (USD).Trend:Increase 100.0% than previous quarter

Overall: decreasing (-13.61%). Fluctuation: **Significant** (high variation).



Financial analysis of Q3 2022 to Q2 2023 reveals a mixed performance picture. Working capital efficiency shows substantial increases and decreases, with significant variation in liabilities and current assets on revenue. Cost efficiency, measured by the ratio of retained earnings to revenue, shows an upward trend with large quarterly swings. SG&A expense ratio displays a consistent, small downward trend. Investment efficiency exhibits a consistent, positive trend in retained earnings on assets.  Earnings per share demonstrate significant volatility, with both gains and losses across the quarters. The substantial fluctuations suggest the critical need for quarterly reporting to understand the complete financial health of the organization.