(CPA) Copa Holdings - Overview
Sector: Industrials | Industry: Airlines | Exchange: NYSE (USA) | Market Cap: 5.590m USD | Total Return: 36.9% in 12m
Avg Turnover: 45.8M
EPS Trend: -2.3%
Qual. Beats: 1
Rev. Trend: 77.4%
Qual. Beats: 1
Warnings
Choppy
Tailwinds
Confidence
Copa Holdings, S.A. is a Panama-based airline carrier providing passenger, cargo, and mail transportation services across North America, South America, Central America, and the Caribbean. As of late 2025, the company maintains a fleet of 125 aircraft, operating primarily through its Hub of the Americas at Tocumen International Airport.
The company utilizes a hub-and-spoke business model, which maximizes connectivity for thin routes between secondary cities in the Americas that lack sufficient demand for point-to-point service. In the airline sector, this model allows carriers to achieve higher load factors and aircraft utilization rates compared to traditional point-to-point operators. For a deeper look at the companys financial health, consider exploring the valuation metrics on ValueRay.
Copa Holdings is classified under the GICS Passenger Airlines sub-industry and has been in operation since 1947. Its geographic location in Panama serves as a strategic crossroads, minimizing flight times and maximizing efficiency for transcontinental travel within the Western Hemisphere.
- Hub of the Americas connectivity drives high-margin connecting traffic revenue
- Jet fuel price volatility significantly impacts operational margins and profitability
- Latin American economic growth cycles dictate regional passenger demand levels
- Expansion of Boeing 737 MAX fleet improves fuel efficiency and capacity
- Currency devaluations in key South American markets pressure dollar-denominated earnings
| Net Income: 707.3m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.02 > 0.02 and ΔFCF/TA -15.38 > 1.0 |
| NWC/Revenue: 6.68% < 20% (prev -0.56%; Δ 7.25% < -1%) |
| CFO/TA 0.19 > 3% & CFO 1.28b > Net Income 707.3m |
| Net Debt (1.39b) to EBITDA (1.23b): 1.13 < 3 |
| Current Ratio: 1.16 > 1.5 & < 3 |
| Outstanding Shares: last quarter (41.2m) vs 12m ago -0.26% < -2% |
| Gross Margin: 35.29% > 18% (prev 0.34%; Δ 3.50k% > 0.5%) |
| Asset Turnover: 59.66% > 50% (prev 60.06%; Δ -0.40% > 0%) |
| Interest Coverage Ratio: 8.55 > 6 (EBITDA TTM 1.23b / Interest Expense TTM 101.0m) |
| A: 0.04 (Total Current Assets 1.82b - Total Current Liabilities 1.57b) / Total Assets 6.89b |
| B: 0.43 (Retained Earnings 2.98b / Total Assets 6.89b) |
| C: 0.14 (EBIT TTM 863.8m / Avg Total Assets 6.32b) |
| D: 0.75 (Book Value of Equity 3.00b / Total Liabilities 4.02b) |
| Altman-Z'' = 3.35 = A |
| DSRI: 1.07 (Receivables 207.7m/178.1m, Revenue 3.77b/3.45b) |
| GMI: 0.97 (GM 35.29% / 34.15%) |
| AQI: 0.49 (AQ_t 0.05 / AQ_t-1 0.10) |
| SGI: 1.09 (Revenue 3.77b / 3.45b) |
| TATA: -0.08 (NI 707.3m - CFO 1.28b) / TA 6.89b) |
| Beneish M = -3.32 (Cap -4..+1) = AA |
As of May 29, 2026, the stock is trading at USD 142.16 with a total of 299,814 shares traded.
Over the past week, the price has changed by +4.81%,
over one month by +24.08%,
over three months by +2.56% and
over the past year by +36.86%.
Copa Holdings has received a consensus analysts rating of 4.47. Therefore, it is recommended to buy CPA.
- StrongBuy: 9
- Buy: 4
- Hold: 2
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 164.1 | 15.5% |
P/E Trailing = 7.979
P/E Forward = 9.2336
P/S = 1.4822
P/B = 1.9462
P/EG = 0.9448
Revenue TTM = 3.77b USD
EBIT TTM = 863.8m USD
EBITDA TTM = 1.23b USD
Long Term Debt = 1.89b USD (from longTermDebt, last quarter)
Short Term Debt = 285.2m USD (from shortTermDebt, last quarter)
Debt = 2.73b USD (from shortLongTermDebtTotal, last quarter) + Leases 308.6m
Net Debt = 1.39b USD (calculated: Debt 2.73b - CCE 1.33b)
Enterprise Value = 6.98b USD (5.59b + Debt 2.73b - CCE 1.33b)
Interest Coverage Ratio = 8.55 (Ebit TTM 863.8m / Interest Expense TTM 101.0m)
EV/FCF = 64.40x (Enterprise Value 6.98b / FCF TTM 108.4m)
FCF Yield = 1.55% (FCF TTM 108.4m / Enterprise Value 6.98b)
FCF Margin = 2.88% (FCF TTM 108.4m / Revenue TTM 3.77b)
Net Margin = 18.76% (Net Income TTM 707.3m / Revenue TTM 3.77b)
Gross Margin = 35.29% ((Revenue TTM 3.77b - Cost of Revenue TTM 2.44b) / Revenue TTM)
Gross Margin QoQ = 35.88% (prev 33.74%)
Tobins Q-Ratio = 1.01 (Enterprise Value 6.98b / Total Assets 6.89b)
Interest Expense / Debt = 3.71% (Interest Expense 101.0m / Debt 2.73b)
Taxrate = 14.00% (34.6m / 247.1m)
NOPAT = 742.8m (EBIT 863.8m * (1 - 14.00%))
Current Ratio = 1.16 (Total Current Assets 1.82b / Total Current Liabilities 1.57b)
Debt / Equity = 0.95 (Debt 2.73b / totalStockholderEquity, last quarter 2.87b)
Debt / EBITDA = 1.13 (Net Debt 1.39b / EBITDA 1.23b)
Debt / FCF = 12.84 (Net Debt 1.39b / FCF TTM 108.4m)
Total Stockholder Equity = 2.72b (last 4 quarters mean from totalStockholderEquity)
RoA = 11.19% (Net Income 707.3m / Total Assets 6.89b)
RoE = 26.01% (Net Income TTM 707.3m / Total Stockholder Equity 2.72b)
RoCE = 18.74% (EBIT 863.8m / Capital Employed (Equity 2.72b + L.T.Debt 1.89b))
RoIC = 15.27% (NOPAT 742.8m / Invested Capital 4.87b)
WACC = 6.74% (E(5.59b)/V(8.32b) * Re(8.48%) + D(2.73b)/V(8.32b) * Rd(3.71%) * (1-Tc(0.14)))
Discount Rate = 8.48% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -37.78 | Cagr: 1.08%
[DCF] Terminal Value 73.10% ; FCFF base≈454.7m ; Y1≈398.8m ; Y5≈322.2m
[DCF] Fair Price = 126.6 (EV 5.17b - Net Debt 1.39b = Equity 3.78b / Shares 29.9m; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: -2.29 | EPS CAGR: -0.15% | SUE: 2.39 | # QB: 1
Revenue Correlation: 77.43 | Revenue CAGR: 2.49% | SUE: 1.10 | # QB: 1
EPS current Quarter (2026-06-30): EPS=1.75 | Chg30d=+124.09% | Revisions=-20% | Analysts=4
EPS next Quarter (2026-09-30): EPS=3.90 | Chg30d=+8.88% | Revisions=+33% | Analysts=4
EPS current Year (2026-12-31): EPS=16.08 | Chg30d=+10.52% | Revisions=-14% | GrowthEPS=-1.2% | GrowthRev=+18.6%
EPS next Year (2027-12-31): EPS=19.87 | Chg30d=+2.22% | Revisions=+25% | GrowthEPS=+23.5% | GrowthRev=+4.6%
[Analyst] Revisions Ratio: +33%