<p>你知道有一些财务指标可以提供潜在多倍收益的线索吗？理想情况下，一家企业会显示出两个趋势；首先是资本回报率（ROCE）的增长，其次是投入资本的增加。基本上，这意味着公司有盈利的项目可以继续再投资，这是复利机器的特征。说到这一点，我们注意到 <strong>Equatorial Pará Distribuidora de Energia</strong>（BVMF:EQPA3）在资本回报率方面有一些很好的变化，所以让我们来看看。</p>
<p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
<h2>理解资本回报率（ROCE）</h2>
<p>对于那些不确定 ROCE 是什么的人，它衡量的是公司从其投入的资本中可以产生的税前利润。Equatorial Pará Distribuidora de Energia 的计算公式为：</p>
<p><strong>资本回报率 = 息税前利润（EBIT）÷（总资产 - 流动负债）</strong></p>
<p>0.15 = R$2.4b ÷ (R$22b - R$6.2b) <em>(基于截至 2025 年 9 月的过去十二个月数据)</em>。</p>
<p>因此，<strong>Equatorial Pará Distribuidora de Energia 的 ROCE 为 15%。</strong> 从绝对值来看，这是一个令人满意的回报，但与电力公用事业行业平均 12% 相比，表现更佳。</p>
<p>查看我们对 Equatorial Pará Distribuidora de Energia 的最新分析</p>
<p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/2517610-roce-1-dark-2/1768907448908?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="" width="666" height="632" original-src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/2517610-roce-1-dark-2/1768907448908"/></p>
<p>BOVESPA:EQPA3 资本回报率 2026 年 1 月 20 日</p>
<p>虽然过去的表现不能代表未来，但了解公司历史表现是有帮助的，这就是我们上面提供这张图表的原因。如果你想查看 Equatorial Pará Distribuidora de Energia 在其他指标上的历史表现，可以查看这张 <strong>免费</strong> 的 Equatorial Pará Distribuidora de Energia 过去的收益、收入和现金流图。</p>
<h2>ROCE 的趋势能告诉我们什么</h2>
<p>投资者会对 Equatorial Pará Distribuidora de Energia 的现状感到满意。在过去五年中，资本回报率大幅上升至 15%。公司每使用一美元资本所赚取的利润显著增加，值得注意的是，资本的总额也增加了 52%。因此，我们对 Equatorial Pará Distribuidora de Energia 的表现感到非常鼓舞，因为它能够盈利性地再投资资本。</p>
<p>不过需要说明的是，在此期间公司的流动负债明显增加，因此我们将部分 ROCE 的增长归因于此。实际上，这意味着供应商或短期债权人现在为业务提供了 28% 的资金，这比五年前要多。值得关注的是，随着流动负债占总资产的比例增加，某些风险因素也会增加。</p>
<h2>总结...</h2>
<p>总而言之，Equatorial Pará Distribuidora de Energia 已经证明它能够再投资于业务并产生更高的资本回报，这非常出色。由于该股票在过去五年中为股东带来了惊人的 175% 的回报，投资者似乎正在认可这些变化。话虽如此，我们仍然认为有前景的基本面意味着公司值得进一步的尽职调查。</p>
<p>如果你想继续研究 Equatorial Pará Distribuidora de Energia，你可能会对我们的分析发现的 <strong>3 个警告信号</strong> 感兴趣。</p>
<p>对于那些喜欢投资于 <strong>稳健公司</strong> 的人，查看这份 <strong>免费</strong> 的稳健资产负债表和高股本回报率公司的名单。</p>

ELPC

<p>赤道帕拉能源分销公司（BVMF:EQPA3）在资本回报率（ROCE）方面表现出显著增长，达到了 15%，超过了电力公用事业行业平均水平的 12%。在过去五年中，公司有效地再投资资本，使资本使用量增加了 52%。尽管流动负债有所上升，目前占业务的 28%，但公司仍为股东带来了惊人的 175% 的回报。投资者被鼓励对其有前景的基本面进行进一步的尽职调查</p>

<p>Did you know there are some financial metrics that can provide clues of a potential multi-bagger? Ideally, a business will show two trends; firstly a growing <em>return</em> on capital employed (ROCE) and secondly, an increasing <em>amount</em> of capital employed. Basically this means that a company has profitable initiatives that it can continue to reinvest in, which is a trait of a compounding machine. Speaking of which, we noticed some great changes in <strong>Equatorial Pará Distribuidora de Energia's</strong> (BVMF:EQPA3) returns on capital, so let's have a look.</p>
<div class="lb-trans"><p>你知道有一些财务指标可以提供潜在多倍收益的线索吗？理想情况下，一家企业会显示出两个趋势；首先是资本回报率（ROCE）的增长，其次是投入资本的增加。基本上，这意味着公司有盈利的项目可以继续再投资，这是复利机器的特征。说到这一点，我们注意到 <strong>Equatorial Pará Distribuidora de Energia</strong>（BVMF:EQPA3）在资本回报率方面有一些很好的变化，所以让我们来看看。</p>
</div><p>This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality.</p>
<div class="lb-trans"><p>这项技术可能会取代计算机：发现 20 只正在努力使量子计算成为现实的股票。</p>
</div><h2>Understanding Return On Capital Employed (ROCE)</h2>
<div class="lb-trans"><h2>理解资本回报率（ROCE）</h2>
</div><p>For those that aren't sure what ROCE is, it measures the amount of pre-tax profits a company can generate from the capital employed in its business. The formula for this calculation on Equatorial Pará Distribuidora de Energia is:</p>
<div class="lb-trans"><p>对于那些不确定 ROCE 是什么的人，它衡量的是公司从其投入的资本中可以产生的税前利润。Equatorial Pará Distribuidora de Energia 的计算公式为：</p>
</div><p><strong>Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)</strong></p>
<div class="lb-trans"><p><strong>资本回报率 = 息税前利润（EBIT）÷（总资产 - 流动负债）</strong></p>
</div><p>0.15 = R$2.4b ÷ (R$22b - R$6.2b) <em>(Based on the trailing twelve months to September 2025)</em>.</p>
<div class="lb-trans"><p>0.15 = R$2.4b ÷ (R$22b - R$6.2b) <em>(基于截至 2025 年 9 月的过去十二个月数据)</em>。</p>
</div><p>Thus, <strong>Equatorial Pará Distribuidora de Energia has an ROCE of 15%.</strong> In absolute terms, that's a satisfactory return, but compared to the Electric Utilities industry average of 12% it's much better.</p>
<div class="lb-trans"><p>因此，<strong>Equatorial Pará Distribuidora de Energia 的 ROCE 为 15%。</strong> 从绝对值来看，这是一个令人满意的回报，但与电力公用事业行业平均 12% 相比，表现更佳。</p>
</div><p>Check out our latest analysis for Equatorial Pará Distribuidora de Energia</p>
<div class="lb-trans"><p>查看我们对 Equatorial Pará Distribuidora de Energia 的最新分析</p>
</div><p><img src="https://imageproxy.pbkrs.com/https://images.simplywall.st/asset/chart/2517610-roce-1-dark-2/1768907448908" alt="" original-src="https://images.simplywall.st/asset/chart/2517610-roce-1-dark-2/1768907448908"/></p>
<p>BOVESPA:EQPA3 Return on Capital Employed January 20th 2026</p>
<div class="lb-trans"><p>BOVESPA:EQPA3 资本回报率 2026 年 1 月 20 日</p>
</div><p>While the past is not representative of the future, it can be helpful to know how a company has performed historically, which is why we have this chart above. If you'd like to look at how Equatorial Pará Distribuidora de Energia has performed in the past in other metrics, you can view this <strong>free</strong> graph of Equatorial Pará Distribuidora de Energia's past earnings, revenue and cash flow.</p>
<div class="lb-trans"><p>虽然过去的表现不能代表未来，但了解公司历史表现是有帮助的，这就是我们上面提供这张图表的原因。如果你想查看 Equatorial Pará Distribuidora de Energia 在其他指标上的历史表现，可以查看这张 <strong>免费</strong> 的 Equatorial Pará Distribuidora de Energia 过去的收益、收入和现金流图。</p>
</div><h2>What The Trend Of ROCE Can Tell Us</h2>
<div class="lb-trans"><h2>ROCE 的趋势能告诉我们什么</h2>
</div><p>Investors would be pleased with what's happening at Equatorial Pará Distribuidora de Energia. Over the last five years, returns on capital employed have risen substantially to 15%. The company is effectively making more money per dollar of capital used, and it's worth noting that the amount of capital has increased too, by 52%. So we're very much inspired by what we're seeing at Equatorial Pará Distribuidora de Energia thanks to its ability to profitably reinvest capital.</p>
<div class="lb-trans"><p>投资者会对 Equatorial Pará Distribuidora de Energia 的现状感到满意。在过去五年中，资本回报率大幅上升至 15%。公司每使用一美元资本所赚取的利润显著增加，值得注意的是，资本的总额也增加了 52%。因此，我们对 Equatorial Pará Distribuidora de Energia 的表现感到非常鼓舞，因为它能够盈利性地再投资资本。</p>
</div><p>For the record though, there was a noticeable increase in the company's current liabilities over the period, so we would attribute some of the ROCE growth to that. Effectively this means that suppliers or short-term creditors are now funding 28% of the business, which is more than it was five years ago. It's worth keeping an eye on this because as the percentage of current liabilities to total assets increases, some aspects of risk also increase.</p>
<div class="lb-trans"><p>不过需要说明的是，在此期间公司的流动负债明显增加，因此我们将部分 ROCE 的增长归因于此。实际上，这意味着供应商或短期债权人现在为业务提供了 28% 的资金，这比五年前要多。值得关注的是，随着流动负债占总资产的比例增加，某些风险因素也会增加。</p>
</div><h2>In Conclusion...</h2>
<div class="lb-trans"><h2>总结...</h2>
</div><p>To sum it up, Equatorial Pará Distribuidora de Energia has proven it can reinvest in the business and generate higher returns on that capital employed, which is terrific. Since the stock has returned a staggering 175% to shareholders over the last five years, it looks like investors are recognizing these changes. With that being said, we still think the promising fundamentals mean the company deserves some further due diligence.</p>
<div class="lb-trans"><p>总而言之，Equatorial Pará Distribuidora de Energia 已经证明它能够再投资于业务并产生更高的资本回报，这非常出色。由于该股票在过去五年中为股东带来了惊人的 175% 的回报，投资者似乎正在认可这些变化。话虽如此，我们仍然认为有前景的基本面意味着公司值得进一步的尽职调查。</p>
</div><p>If you want to continue researching Equatorial Pará Distribuidora de Energia, you might be interested to know about the <strong>3 warning signs</strong> that our analysis has discovered.</p>
<div class="lb-trans"><p>如果你想继续研究 Equatorial Pará Distribuidora de Energia，你可能会对我们的分析发现的 <strong>3 个警告信号</strong> 感兴趣。</p>
</div><p>For those who like to invest in <strong>solid companies,</strong> check out this <strong>free</strong> list of companies with solid balance sheets and high returns on equity.</p>
<div class="lb-trans"><p>对于那些喜欢投资于 <strong>稳健公司</strong> 的人，查看这份 <strong>免费</strong> 的稳健资产负债表和高股本回报率公司的名单。</p>
</div>

赤道帕拉能源分销公司（BVMF:EQPA3）希望继续提升其资本回报率