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 46.0 (%).Trend:Decrease 48.75% than previous quarter
Year 2023 Quarter 1: Liabilities on Revenue 100.28 (%).Trend:Increase 118.0% than previous quarter
Year 2023 Quarter 2: Liabilities on Revenue 50.09 (%).Trend:Decrease 50.05% than previous quarter

Overall: increasing (8.89%). Fluctuation: **Significant** (high variation).

Current assets on Revenue
Year 2022 Quarter 3: Current assets on Revenue 43.63 (%).Trend:Decrease 30.99% than previous quarter
Year 2023 Quarter 1: Current assets on Revenue 135.94 (%).Trend:Increase 211.57% than previous quarter
Year 2023 Quarter 2: Current assets on Revenue 74.61 (%).Trend:Decrease 45.12% than previous quarter

Overall: increasing (71.01%). 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 43.24 (%).Trend:Increase 25.7% than previous quarter
Year 2023 Quarter 1: Ratio of Retained Earnings to Revenue 170.49 (%).Trend:Increase 294.29% than previous quarter
Year 2023 Quarter 2: Ratio of Retained Earnings to Revenue 111.45 (%).Trend:Decrease 34.63% than previous quarter

Overall: increasing (157.75%). Fluctuation: **Significant** (high variation).

Selling, General & Administrative (SG&A) Expense Ratio
Year 2022 Quarter 3: Selling, General & Administrative (SG&A) Expense Ratio 8.05 (%).Trend:Increase 4.14% than previous quarter
Year 2023 Quarter 1: Selling, General & Administrative (SG&A) Expense Ratio 9.09 (%).Trend:Increase 12.92% than previous quarter
Year 2023 Quarter 2: Selling, General & Administrative (SG&A) Expense Ratio 11.7 (%).Trend:Increase 28.71% than previous quarter

Overall: increasing (45.34%). Fluctuation: **Neutral** (moderate 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 21.98 (%).Trend:Increase 90.8% than previous quarter
Year 2023 Quarter 1: Retained Earning on Assets 30.48 (%).Trend:Increase 38.67% than previous quarter
Year 2023 Quarter 2: Retained Earning on Assets 33.21 (%).Trend:Increase 8.96% than previous quarter

Overall: increasing (51.09%). Fluctuation: **Neutral** (moderate variation).

Earning Per Share
Year 2022 Quarter 3: Earning Per Share 5.77 (USD).Trend:Increase 2936.84% than previous quarter
Year 2023 Quarter 1: Earning Per Share 4.22 (USD).Trend:Decrease 26.86% than previous quarter
Year 2023 Quarter 2: Earning Per Share 5.65 (USD).Trend:Increase 33.89% than previous quarter

Overall: decreasing (-2.08%). Fluctuation: **Neutral** (moderate variation).



Financial analysis from Q3 2022 to Q2 2023 shows mixed results. Working capital efficiency (liabilities and current assets on revenue) is increasing but with significant fluctuation. Cost efficiency (SG&A expense ratio) is also increasing. The ratio of retained earnings to revenue shows substantial increases, while investment efficiency demonstrates a steady increase overall. Earning per share is decreasing overall.  The data suggests possible improvements in cost and investment efficiency, but inconsistencies in working capital and earnings require careful scrutiny.