Shuangliang Eco-Energy SystemsLtd's (SHSE:600481) Returns On Capital Are Heading Higher
Shuangliang Eco-Energy SystemsLtd's (SHSE:600481) Returns On Capital Are Heading Higher
If you're looking for a multi-bagger, there's a few things to keep an eye out for. One common approach is to try and find a company with returns on capital employed (ROCE) that are increasing, in conjunction with a growing amount 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. With that in mind, we've noticed some promising trends at Shuangliang Eco-Energy SystemsLtd (SHSE:600481) so let's look a bit deeper.
如果你正在寻找一款多功能装袋机，有几件事需要注意。一种常见的方法是尝试找一家公司 回报 论资本使用率（ROCE）在增加的同时增长 金额 所用资本的比例。基本上，这意味着公司拥有可以继续进行再投资的盈利计划，这是复合机器的特征。考虑到这一点，我们注意到双良生态能源系统有限公司（上海证券交易所代码：600481）的一些令人鼓舞的趋势，所以让我们更深入地了解一下。
Return On Capital Employed (ROCE): What Is It?
资本使用回报率（ROCE）：这是什么？
For those who don't know, ROCE is a measure of a company's yearly pre-tax profit (its return), relative to the capital employed in the business. The formula for this calculation on Shuangliang Eco-Energy SystemsLtd is:
对于那些不知道的人来说，ROCE是衡量公司年度税前利润（其回报率）的指标，相对于该业务使用的资本。双良生态能源系统有限公司的计算公式为：
Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities)
已动用资本回报率 = 息税前收益 (EBIT) ¥（总资产-流动负债）
0.15 = CN¥1.8b ÷ (CN¥30b - CN¥18b) (Based on the trailing twelve months to March 2024).
0.15 = 18亿元人民币 ÷（30亿元人民币-18亿元人民币） （基于截至2024年3月的过去十二个月）。
So, Shuangliang Eco-Energy SystemsLtd has an ROCE of 15%. In absolute terms, that's a satisfactory return, but compared to the Machinery industry average of 6.3% it's much better.
因此，双良生态能源系统有限公司的投资回报率为15％。从绝对值来看，这是一个令人满意的回报，但与机械行业平均水平的6.3％相比，回报要好得多。
Above you can see how the current ROCE for Shuangliang Eco-Energy SystemsLtd compares to its prior returns on capital, but there's only so much you can tell from the past. If you're interested, you can view the analysts predictions in our free analyst report for Shuangliang Eco-Energy SystemsLtd .
在上面你可以看到双良生态能源系统有限公司当前的投资回报率与其先前的资本回报率相比如何，但从过去可以看出来的只有那么多。如果你有兴趣，可以在我们为双良生态能源系统有限公司提供的免费分析师报告中查看分析师的预测。
What Does the ROCE Trend For Shuangliang Eco-Energy SystemsLtd Tell Us?
双良生态能源系统有限公司的投资回报率趋势告诉我们什么？
Shuangliang Eco-Energy SystemsLtd is displaying some positive trends. Over the last five years, returns on capital employed have risen substantially to 15%. Basically the business is earning more per dollar of capital invested and in addition to that, 414% more capital is being employed now too. The increasing returns on a growing amount of capital is common amongst multi-baggers and that's why we're impressed.
双良生态能源系统有限公司显示出一些积极的趋势。在过去五年中，已动用资本回报率大幅上升至15％。基本上，该企业每投资1美元的资本就能获得更多的收入，除此之外，现在使用的资本也增加了414％。越来越多的资本所带来的回报率不断增加在多袋公司中很常见，这就是为什么我们印象深刻的原因。
On a side note, we noticed that the improvement in ROCE appears to be partly fueled by an increase in current liabilities. Effectively this means that suppliers or short-term creditors are now funding 60% of the business, which is more than it was five years ago. And with current liabilities at those levels, that's pretty high.
顺便说一句，我们注意到，投资回报率的改善似乎部分是由流动负债的增加推动的。实际上，这意味着供应商或短期债权人现在为该业务的60％提供了资金，这比五年前还要多。而且，在流动负债处于这些水平的情况下，这是相当高的。
The Bottom Line On Shuangliang Eco-Energy SystemsLtd's ROCE
双良生态能源系统有限公司投资回报率的底线
A company that is growing its returns on capital and can consistently reinvest in itself is a highly sought after trait, and that's what Shuangliang Eco-Energy SystemsLtd has. Since the stock has returned a solid 87% to shareholders over the last five years, it's fair to say investors are beginning to recognize these changes. So given the stock has proven it has promising trends, it's worth researching the company further to see if these trends are likely to persist.
一家资本回报率不断提高且能够持续进行自我再投资的公司是一个备受追捧的特征，而这正是双良生态能源系统有限公司所拥有的。由于该股在过去五年中为股东带来了87％的稳健回报，因此可以公平地说，投资者已开始意识到这些变化。因此，鉴于该股已证明其趋势令人鼓舞，值得进一步研究该公司，看看这些趋势是否可能持续下去。
One more thing, we've spotted 3 warning signs facing Shuangliang Eco-Energy SystemsLtd that you might find interesting.
还有一件事，我们发现了双良生态能源系统有限公司面临的3个警告标志，你可能会觉得有趣。
For those who like to invest in solid companies, check out this free list of companies with solid balance sheets and high returns on equity.
对于那些喜欢投资稳健公司的人，可以查看这份资产负债表稳健和股本回报率高的公司的免费清单。
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