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 47.17 (%).Trend:Increase 277.66% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 23.25 (%).Trend:Decrease 50.71% than previous quarter
Year 2023 Quarter 3: Liabilities on Revenue 15.65 (%).Trend:Decrease 32.69% than previous quarter

Overall: decreasing (-66.82%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2023 Quarter 1: Current assets on Revenue 86.2 (%).Trend:Increase 258.27% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 42.86 (%).Trend:Decrease 50.28% than previous quarter
Year 2023 Quarter 3: Current assets on Revenue 27.61 (%).Trend:Decrease 35.58% than previous quarter

Overall: decreasing (-67.97%). 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 10.55 (%).Trend:Increase 99.81% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 1.09 (%).Trend:Decrease 89.67% than previous quarter
Year 2023 Quarter 3: Ratio of Retained Earnings to Revenue 2.46 (%).Trend:Increase 125.69% than previous quarter

Overall: decreasing (-76.68%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 23.28 (%).Trend:Increase 41.86% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 22.85 (%).Trend:Decrease 1.85% than previous quarter
Year 2023 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 22.1 (%).Trend:Decrease 3.28% than previous quarter

Overall: decreasing (-5.07%). 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 3.91 (%).Trend:Decrease 53.51% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 0.85 (%).Trend:Decrease 78.26% than previous quarter
Year 2023 Quarter 3: Retained Earning on Assets 2.96 (%).Trend:Increase 248.24% than previous quarter

Overall: decreasing (-24.3%). Fluctuation: **Significant** (high variation).

Earning Per Share
Year 2023 Quarter 1: Earning Per Share 2.44 (USD).Trend:Decrease 82.72% than previous quarter
Year 2023 Quarter 2: Earning Per Share 5.59 (USD).Trend:Increase 129.1% than previous quarter
Year 2023 Quarter 3: Earning Per Share 9.19 (USD).Trend:Increase 64.4% than previous quarter

Overall: increasing (276.64%). Fluctuation: **Significant** (high variation).



Financial analysis for Q1 2023 to Q3 2023 indicates significant fluctuations in financial performance across multiple areas. Working capital metrics (liabilities and current assets on revenue) display a decreasing trend with high volatility. Cost efficiency, as measured by the retained earnings-to-revenue ratio, is also decreasing significantly and exhibits substantial variation. SG&A expense ratios show a slight downward trend with low variation. Investment efficiency, measured by retained earnings on assets, and earnings per share show considerable volatility and both decreasing/increasing trends, respectively.