A Business at a Glance
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Copa Holdings, S.A.
CPA
$5.6B
Mkt Cap
$136.28
+0.41%
Copa Holdings, S.A. (CPA) has a current P/E ratio of 8.4, compared to its historical median P/E of 8.7. The stock is currently considered Fair based on its historical valuation range.
Copa Holdings, S.A. (CPA) has a 5-year average return on invested capital (ROIC) of 18.9%. This indicates strong capital allocation and a potential competitive advantage.
Copa Holdings, S.A. (CPA) has a market capitalization of $5.6B. It is classified as a mid-cap stock.
Yes, Copa Holdings, S.A. (CPA) pays a dividend with a trailing twelve-month yield of 4.73%. The company also returns capital through share buybacks, with a buyback yield of 0.15%.
Based on historical P/E analysis, Copa Holdings, S.A. (CPA) appears fair. The current P/E of 8.4 is 4% below its historical median of 8.7. The estimated fair value CAGR (P/E method) is 25.9%.
Copa Holdings, S.A. (CPA) operates in the Air Transportation, Scheduled industry, within the Industrials sector.
Copa Holdings, S.A. (CPA) reported annual revenue of $3.6 billion in its most recent fiscal year, based on SEC EDGAR filings.
Item 4. Information on the Company A.History and Development of the Company Copa was established in 1947 by a group of Panamanian investors and Pan American World Airways, which provided technical and economic assistance as well as capital. Initially, Copa served three domestic destinations in Panama with a fleet of three Douglas C- 47 aircraft. In the 1960s, Copa began its international service with three weekly flights to cities in Costa Rica, Jamaica and Colombia using a small fleet of Avro 748s and Electra 188s. In 1971, Pan American World Airways sold its stake in Copa to a group of Panamanian investors who retained control of the airline until 1986. During the 1980s, Copa suspended its domestic service to focus on international flights. In 1986, CIASA purchased 99% of Copa, which was controlled by the group of Panamanian shareholders who currently control CIASA.
| Metric | TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 |
|---|---|---|---|---|---|---|
| Revenue | 3.6B | 3.6B | 3.4B | 3.5B | 3.0B | 1.5B |
| Net Income | 672M | 672M | 608M | 514M | 348M | 44M |
| EPS | $16.28 | $16.28 | $14.55 | $12.78 | $7.88 | $1.03 |
| Free Cash Flow | 335M | 335M | 371M | 445M | 504M | 300M |
| ROIC | 16.8% | 21.0% | 22.9% | 26.7% | 17.6% | 6.4% |
| Gross Margin | - | - | - | - | - | - |
| Debt/Equity | 0.71 | 0.71 | 0.70 | 0.69 | 0.97 | 1.10 |
| Dividends/Share | $6.44 | $6.44 | $6.44 | $3.33 | $0.00 | $0.00 |
| Operating Income | 819M | 819M | 753M | 807M | 450M | 152M |
| Operating Margin | 22.6% | 22.6% | 21.8% | 23.4% | 15.2% | 10.1% |
| ROE | 24.2% | 26.1% | 27.1% | 28.4% | 24.9% | 3.4% |
| Shares Outstanding | 41M | 41M | 42M | 40M | 44M | 43M |
| Metric | 2015 | 2016 | TTM | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Income Statement | ||||||||||||
| Revenue | 2.3B | 2.2B | 2.5B | 2.7B | 2.7B | 801M | 1.5B | 3.0B | 3.5B | 3.4B | 3.6B | 3.6B |
| Gross Margin | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| R&D | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A | N/A | 1.8B | 1.9B | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| EBIT | 253M | 265M | 438M | 160M | 346M | -461M | 152M | 450M | 807M | 753M | 819M | 819M |
| Op. Margin | 11.2% | 11.9% | 17.4% | 6.0% | 12.8% | -57.5% | 10.1% | 15.2% | 23.4% | 21.8% | 22.6% | 22.6% |
| Net Income | -241M | 323M | 363M | 88M | 247M | -607M | 44M | 348M | 514M | 608M | 672M | 672M |
| Net Margin | -10.7% | 14.6% | 14.4% | 3.3% | 9.1% | -75.8% | 2.9% | 11.7% | 14.9% | 17.6% | 18.6% | 18.6% |
| Non-Recurring | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Returns on Capital | ||||||||||||
| ROIC | 12.1% | 11.2% | 17.5% | 5.9% | 12.4% | -23.4% | 6.4% | 17.6% | 26.7% | 22.9% | 21.0% | 16.8% |
| ROE | -14.7% | 21.4% | 21.1% | 4.8% | 13.2% | -37.7% | 3.4% | 24.9% | 28.4% | 27.1% | 26.1% | 24.2% |
| ROA | -6.8% | 9.0% | 9.0% | 2.0% | 5.6% | -14.8% | 1.1% | 7.8% | 10.4% | 11.1% | 10.9% | 10.2% |
| Cash Flow | ||||||||||||
| Op. Cash Flow | 317M | 595M | 836M | 543M | 785M | 5.3M | 507M | 759M | 1.0B | 997M | 1.2B | 1.2B |
| Free Cash Flow | 235M | 506M | 726M | 424M | 722M | -39M | 300M | 504M | 445M | 371M | 335M | 335M |
| Owner Earnings | 166M | 427M | 668M | 266M | 503M | -254M | 267M | 491M | 739M | 666M | 785M | 785M |
| CapEx | 82M | 88M | 110M | 119M | 62M | 44M | 207M | 255M | 600M | 626M | 816M | 816M |
| Maint. CapEx | 151M | 168M | 167M | 277M | 282M | 259M | 240M | 268M | 306M | 331M | 365M | 365M |
| Growth CapEx | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 294M | 295M | 451M | 451M |
| D&A | 151M | 168M | 167M | 277M | 282M | 259M | 240M | 268M | 306M | 331M | 365M | 365M |
| CapEx/OCF | 25.8% | 14.9% | 13.2% | 21.9% | 7.9% | 835.0% | 40.8% | 33.6% | 57.4% | 62.8% | 70.9% | 70.9% |
| Capital Allocation | ||||||||||||
| Dividends Paid | 148M | 86M | 107M | 148M | 110M | 34M | 0 | 0 | 134M | 269M | 266M | 266M |
| Dividend Yield | 8.2% | 5.2% | 3.7% | 5.7% | 4.5% | 1.5% | N/A | N/A | 4.1% | 7.5% | 6.3% | 4.7% |
| Share Buybacks | 118M | 0 | 0 | 0 | 0 | 0 | 41M | 168M | 106M | 87M | 8.7M | 8.7M |
| Buyback Yield | 10.4% | N/A | N/A | N/A | N/A | N/A | 1.4% | 5.5% | 2.8% | 2.6% | 0.2% | 0.2% |
| Stock-Based Comp | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Debt Repayment | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Balance Sheet | ||||||||||||
| Net Debt | 1.1B | 852M | 936M | 1.1B | 1.0B | 1.0B | 1.2B | 1.3B | 1.3B | 1.1B | 1.6B | 1.6B |
| Cash & Equiv. | 205M | 332M | 239M | 156M | 159M | 119M | 211M | 122M | 206M | 613M | 383M | 383M |
| Long-Term Debt | 1.1B | 961M | 876M | 975M | 938M | 1.0B | 1.2B | 1.3B | 1.2B | 1.4B | 1.8B | 1.8B |
| Debt/Equity | 0.94 | 0.73 | 0.63 | 0.72 | 0.61 | 0.91 | 1.10 | 0.97 | 0.69 | 0.70 | 0.71 | 0.71 |
| Interest Coverage | 8.0 | 7.1 | 8.7 | 3.2 | 6.6 | -11.0 | 3.8 | 10.1 | 15.8 | 12.3 | 12.0 | 12.0 |
| Equity | 1.4B | 1.6B | 1.9B | 1.8B | 1.9B | 1.3B | 1.3B | 1.5B | 2.1B | 2.4B | 2.8B | 2.8B |
| Total Assets | 3.5B | 3.6B | 4.4B | 4.4B | 4.4B | 3.9B | 4.2B | 4.7B | 5.2B | 5.7B | 6.6B | 6.6B |
| Total Liabilities | 2.1B | 2.0B | 2.6B | 2.6B | 2.4B | 2.6B | 2.9B | 3.2B | 3.1B | 3.4B | 3.8B | 3.8B |
| Intangibles | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Retained Earnings | 1.4B | 1.7B | 1.9B | 1.8B | 2.0B | 1.3B | 1.4B | 1.7B | 2.1B | 2.4B | 2.8B | 2.8B |
| Working Capital | -78M | 202M | 30M | -89M | 237M | 406M | 186M | 42M | -11M | 222M | 419M | 419M |
| Current Assets | 908M | 1.1B | 1.2B | 1.1B | 1.2B | 1.2B | 1.2B | 1.2B | 1.3B | 1.6B | 1.8B | 1.8B |
| Current Liabilities | 986M | 868M | 1.2B | 1.1B | 998M | 813M | 1.1B | 1.2B | 1.3B | 1.4B | 1.4B | 1.4B |
| Per Share Data | ||||||||||||
| EPS | -7.72 | 10.35 | 11.57 | 2.81 | 7.97 | -14.28 | 1.03 | 7.88 | 12.78 | 14.55 | 16.28 | 16.28 |
| Owner EPS | 5.33 | 13.65 | 21.32 | 8.48 | 16.22 | -5.98 | 6.28 | 11.11 | 18.36 | 15.94 | 19.03 | 19.03 |
| Book Value | 44.59 | 52.21 | 59.06 | 57.18 | 62.43 | 30.19 | 30.53 | 33.78 | 52.75 | 56.77 | 67.27 | 67.27 |
| Cash Flow/Share | 10.16 | 19.02 | 26.66 | 17.28 | 25.32 | 0.12 | 11.92 | 17.17 | 25.97 | 23.85 | 27.89 | 25.13 |
| Dividends/Share | 4.73 | 2.76 | 3.41 | 4.70 | 3.56 | 0.80 | 0.00 | 0.00 | 3.33 | 6.44 | 6.44 | 6.44 |
| Shares Out. | 31.2M | 31.3M | 31.3M | 31.4M | 31.0M | 42.5M | 42.6M | 44.2M | 40.2M | 41.8M | 41.3M | 41.3M |
| Valuation | ||||||||||||
| P/E Ratio | N/A | 6.8 | 9.2 | 22.1 | 11.2 | N/A | 67.3 | 8.7 | 7.3 | 5.6 | 7.4 | 8.4 |
| P/FCF | 4.8 | 4.3 | 4.6 | 4.6 | 3.8 | N/A | 9.8 | 6.0 | 8.4 | 9.2 | 14.8 | 16.8 |
| EV/EBIT | 8.8 | 11.5 | 9.8 | 19.3 | 11.0 | N/A | 27.4 | 9.7 | 6.2 | 5.9 | 8.0 | 8.8 |
| Price/Book | 0.8 | 1.3 | 1.8 | 1.1 | 1.4 | 2.1 | 2.3 | 2.0 | 1.8 | 1.4 | 1.8 | 2.0 |
| Price/Sales | 0.8 | 0.7 | 1.1 | 1.0 | 0.9 | 2.8 | 1.9 | 0.9 | 1.0 | 1.0 | 1.2 | 1.6 |
| FCF Yield | 20.7% | 23.1% | 21.7% | 21.8% | 26.0% | -1.4% | 10.2% | 16.7% | 11.8% | 10.9% | 6.8% | 6.0% |
| Market Cap | 1.1B | 2.2B | 3.3B | 1.9B | 2.8B | 2.7B | 3.0B | 3.0B | 3.8B | 3.4B | 5.0B | 5.6B |
| Avg. Price | 57.46 | 52.78 | 91.36 | 81.74 | 78.33 | 52.24 | 66.47 | 63.28 | 82.20 | 86.27 | 102.87 | 136.28 |
| Year-End Price | 36.43 | 70.24 | 106.81 | 61.96 | 89.58 | 63.30 | 69.36 | 68.49 | 93.30 | 81.66 | 120.13 | 136.28 |
Copa Holdings, S.A. passes 6 of 9 quality checks, suggesting mixed fundamentals.
Copa Holdings, S.A. trades at 8.4x trailing earnings, compared to its 15-year median P/E of 8.7x, suggesting it is currently Fair relative to its historical range. On a free-cash-flow basis, the stock trades at 16.8x vs a median of 6.0x. The company's 5-year average ROIC is 18.9%. Total shareholder yield (dividends + buybacks) is 4.9%. At current prices, the estimated annualized return to fair value is +1.1%.
Copa Holdings, S.A. (CPA) has a net profit margin of 18.6%. This is a healthy margin.
Copa Holdings, S.A. (CPA) generated $335 million in free cash flow in its most recent fiscal year. Positive free cash flow supports dividends, buybacks, and debt reduction.
Copa Holdings, S.A. (CPA) has a debt-to-equity ratio of 0.71. This indicates moderate leverage.
Copa Holdings, S.A. (CPA) reported earnings per share (EPS) of $16.28 in its most recent fiscal year.
Copa Holdings, S.A. (CPA) has a return on equity (ROE) of 26.1%. This indicates the company generates strong returns for shareholders.
The Ledger Terminal provides 11 years of financial data for Copa Holdings, S.A. (CPA), sourced directly from SEC EDGAR filings. This includes income statements, balance sheets, cash flow statements, and key financial ratios.
Copa Holdings, S.A. (CPA) has a book value per share of $67.27, based on its most recent annual SEC filing.