Saturday 17 October 2026 Export CPA’s income statement to Excel — free account

Copa Holdings, S.A.

Copa Holdings, S.A.’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 4.98% from fiscal 2024. In the quarter to June 2026, revenue grew 25.7%, EPS fell 53.7%, free cash flow grew 207.6% and total debt rose 32.3%, each against the same quarter a year earlier. Dividend growth for three consecutive years.

132.92 0.99 −0.74%

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Market cap: $5.5B
P/E: 8.7×
Fwd P/E: 8.2×
Dividend yield: 5.07%
F-score: 6/9
Altman Z: 2.42
Beneish M: −2.73
Dividend safety: 53/100

Overview Business Profile Financial Analysis Income Statement Balance Sheet Cash Flow Metrics & Ratios 10-Q 10-K

Insider Decisions trades per month

	Dec 25			Mar 26			Jun 26			Sep 26
Buy	—	—	—	—	—	—	—	—	—	—	—	—
Sell	—	—	—	—	—	—	—	—	—	—	—	—

Insider Ownership 27.07%

Capital & Financial Ratios $m

Market Cap 5,510.00

Revenue 3,987.79

Net Income 671.65

Free Cash Flow 177.06

Net Debt 1,008.36

Current Ratio 1.06

Debt/Equity 0.79

P/E ratio 8.74

Fwd P/E 8.21

P/S ratio 1.36

P/B ratio 1.89

Past 5Y EPS Growth —

This Y EPS Growth (5.98%)

Next Y EPS Growth 25.32%

Next Y revenue growth 22.12%

Next 5Y EPS Growth 11.67%

Green and red mark values outside typical ranges. How we judge →

Valuation vs history

EV/Sales, ten years

P/E against its own 10 years 38.49%

10-year low 10-year high

P/S against its own 10 years 48.58%

10-year low 10-year high

P/B against its own 10 years 36.75%

10-year low 10-year high

EV/Sales against its own 10 years 51.35%

10-year low 10-year high

EV/FCF against its own 10 years 71.62%

10-year low 10-year high

Dividends

Payout Ratio 0.44

Annual Dividend Rate 6.74

Annual Dividend Yield 5.07%

	total	individual payouts
2028	Powerpack
2027	Powerpack
2026	6.44	1.71 1.71 1.71
2025	6.44	1.61 1.61 1.61 1.61
2024	6.44	1.61 1.61 1.61 1.61
2023	3.28	0.82 0.82 0.82 0.82
2022	Powerpack
2021	Powerpack
2020	0.80	0.80
2019	2.60	0.65 0.65 0.65 0.65
2018	3.48	0.87 0.87 0.87 0.87
2017	2.52	0.51 0.51 0.75 0.75
2016	2.04	0.51 0.51 0.51 0.51

predictions special payouts not included in total or ratios

Assets vs Liabilities $m

	2023	2024	2025	Q'26
Cash	915	1,199	1,338	1,263
Receivables	159	169	198	221
Inventory	117	132	148	155
Other	32	33	39	38
	1,268	1,577	1,778	1,762

	2023	2024	2025	Q'26
Payables	185	232	167	208
ST’ Debt	222	255	173	202
Other	612	622	738	878
	1,278	1,355	1,359	1,657

Compound Annual Growth %

	10y	5y	3y
Sales	4.86%	35.20%	6.86%
Cash Flow	13.76%	193.56%	14.89%
Earnings	0.00%	0.00%	24.50%
Book Value	5.75%	16.68%	22.98%

Revenue $m

	Mar	Jun	Sep	Dec	Year
’26	1,052	1,059	—	—	—
’25	899	843	913	963	3,618
’24	893	819	855	879	3,446
’23	867	809	868	913	3,457
’22	572	693	809	891	2,965
’21	186	304	445	575	1,510
’20	595	15	708	(517)	801

Fiscal quarters ending in the months shown.

Operating Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	360	258	—	—	—
’25	205	279	267	399	1,150
’24	201	270	189	337	997
’23	203	217	344	280	1,045
’22	169	158	216	215	759
’21	(1)	151	114	244	507
’20	106	(163)	(19)	81	5

Fiscal quarters ending in the months shown.

Free Cash Flow $m

	Mar	Jun	Sep	Dec	Year
’26	191	40	—	—	—
’25	143	(37)	44	(97)	53
’24	201	(25)	62	115	353
’23	203	217	344	(116)	648
’22	169	158	216	(428)	115
’21	(1)	151	114	178	441
’20	106	(163)	(19)	51	(25)

Fiscal quarters ending in the months shown.

EPS $

	Mar	Jun	Sep	Dec	Year
’26	5.16	1.67	—	—	—
’25	4.28	3.61	4.20	4.18	16.28
’24	4.19	2.88	3.50	3.99	14.56
’23	3.07	0.44	4.72	4.55	12.89
’22	0.47	3.01	2.93	2.23	8.58
’21	(2.60)	0.66	0.19	2.69	0.94
’20	1.75	(9.08)	2.45	(9.45)	(14.08)

Fiscal quarters ending in the months shown.

Group	Line	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025	2026e
Price, $
Price, $	Low	42.61	90.85	67.38	77.31	24.00	64.66	55.25	78.12	80.01	82.54	Analyst estimates 2026–2028 Powerpack
	High	97.00	138.72	141.34	116.88	114.00	94.91	97.63	121.20	114.00	130.00
People
People	Employees	8,733	9,045	9,450	8,877	5,667	6,127	7,265	7,625	7,909	8,565
	Revenue/emp, $m	0.25	0.28	0.28	0.30	0.14	0.25	0.41	0.45	0.44	0.42
Income, $m
Income, $m	Revenue	2,222	2,522	2,678	2,707	801	1,510	2,965	3,457	3,446	3,618
	Gross margin, %	66.82	68.10	63.37	65.80	66.14	69.47	58.62	64.78	66.21	66.99
	EBT	373	413	123	293	(631)	54	388	611	706	776
	EBT margin, %	16.78	16.39	4.58	10.84	(78.75)	3.60	13.09	17.68	20.48	21.44
	Net income	335	364	88	247	(607)	44	348	514	608	672
	Depreciation	159	167	277	282	259	240	268	306	331	365
Per share, $
Per share, $	Revenue	52.45	59.45	63.48	64.07	18.92	35.44	73.06	85.94	82.45	87.69
	Earnings	8.02	8.72	2.07	5.81	(14.08)	0.94	8.58	12.89	14.56	16.28
	Cash flow	14.04	17.15	12.87	18.57	0.12	11.91	18.69	25.97	23.85	27.88
	Capex	(1.54)	(2.35)	(8.67)	(1.05)	(0.70)	(1.56)	(15.85)	(9.86)	(15.39)	(26.61)
	Free cash flow	12.49	14.80	4.20	17.53	(0.58)	10.35	2.84	16.11	8.46	1.27
	Book value	43.49	44.68	42.59	45.79	30.32	30.50	36.77	52.75	56.77	67.27
	Shares, m	42	42	42	42	42	43	41	40	42	41
Valuation, ×
Valuation, ×	P/E	11.46	15.79	37.66	18.57	0.00	87.94	9.51	8.14	6.04	7.41
	P/S	1.76	2.32	1.24	1.69	4.08	2.33	1.12	1.21	1.07	1.38
	P/B	2.12	3.08	1.85	2.36	2.55	2.71	2.23	1.97	1.55	1.79
	EV/Sales	1.92	2.41	1.45	1.76	4.42	2.60	1.30	1.37	1.20	1.55
	EV/FCF	10.80	8.56	51.54	22.79	(6.63)	3,753.21	(153.46)	(51.86)	(95.94)	106.97
Cash, $m
Cash, $m	Operating cash flow	595	727	543	785	5	507	759	1,045	997	1,150
	Capex	(65)	(100)	(366)	(44)	(30)	(66)	(643)	(397)	(643)	(1,098)
	Free cash flow	529	628	177	741	(25)	441	115	648	353	53
Balance, $m
Balance, $m	Working capital	207	141	(89)	237	406	186	42	(11)	222	419
	Total debt	1,184	1,175	1,287	1,061	1,164	1,426	1,444	1,463	1,671	1,980
	Net debt	369	231	565	210	274	408	510	548	472	642
	Shareholders’ equity	1,842	1,895	1,797	1,935	1,284	1,299	1,492	2,122	2,373	2,775
Returns, %
Returns, %	ROA	8.85	9.23	2.08	5.61	(14.79)	1.08	7.79	10.40	11.12	10.90
	ROIC	7.80	12.47	4.22	10.09	(18.50)	5.56	14.06	18.90	16.55	14.98
	ROE	19.51	19.48	4.78	13.24	(37.72)	3.39	24.94	28.45	27.06	26.09

Negative figures in brackets.

All 10 years →

Fiscal years to Dec 2025 · latest quarter Jun 2026

Charts ten years each

Company	Market cap	P/E	Fwd P/E	Revenue growth (Q)	EPS growth (Q)	FCF growth (Q)	Gross margin (Q)	EBIT margin (Q)	Compare
LUV Southwest Airlines Co.	$20.0B	23.8×	15.0×	+16.40% (above 0%: growing)	+20.00% (above 0%: growing)	+86.75% (above 0%: growing)	21.20%	3.38%	Compare
ZNH China Southern Airlines Company Limited	$17.7B	— (loss-making)	—	−21.77% (below 0%: shrinking)	n/m	+258.94% (above 0%: growing)	10.93%	3.41%	Compare
LTM LATAM Airlines Group S.A.	$13.9B	8.7×	8.8×	+27.15% (above 0%: growing)	−45.68% (below 0%: shrinking)	−20.71% (below 0%: shrinking)	16.27%	5.29%	Compare
AAL American Airlines Group Inc.	$8.1B	— (loss-making)	— (loss-making)	+16.28% (above 0%: growing)	−87.91% (below 0%: shrinking)	−175.65% (below 0%: shrinking)	20.73%	2.67%	Compare
CPA Copa Holdings, S.A.	$5.5B	8.7×	8.2×	+25.72% (above 0%: growing)	−53.74% (below 0%: shrinking)	+207.63% (above 0%: growing)	50.85%	8.65%
ALK Alaska Air Group, Inc.	$4.1B	— (loss-making)	— (loss-making)	+9.75% (above 0%: growing)	n/m	−14.61% (below 0%: shrinking)	100.00%	(4.13%)	Compare
SKYW SkyWest, Inc.	$3.6B	8.9×	7.8×	+6.52% (above 0%: growing)	−14.43% (below 0%: shrinking)	+122.47% (above 0%: growing)	69.52%	14.13%	Compare
AERO Grupo Aeromexico SAB DE CV - Sponsored ADR	$2.2B	8.4×	9.1×	+6.26% (above 0%: growing)	n/m	+81.61% (above 0%: growing)	66.60%	4.53%	Compare
ALGT Allegiant Travel Company	$1.9B	47.2×	32.8×	+36.86% (above 0%: growing)	n/m	−610.56% (below 0%: shrinking)	24.77%	2.24%	Compare
Median of peers	$6.1B	8.9×	9.1×	+13.02%	−30.05%	+33.50%	22.99%	3.39%

All 19 Airlines stocks →

Copa Holdings, S.A. (CPA) key facts

Strength: Copa Holdings, S.A.’s revenue for fiscal 2025 (year ended December 2025) was $3.6 billion, up 4.98% from fiscal 2024.
Copa Holdings, S.A. (CPA) is an Airlines company in the Industrials sector, listed on the New York Stock Exchange.
As of October 16, 2026, CPA traded at $132.92, a market capitalization of $5.5 billion.
Copa Holdings, S.A. pays an annual dividend of $6.74 per share, a yield of 5.07%, with a payout ratio of 44.3%.
Return on equity was 26.1% and debt-to-equity 0.79.
Its Piotroski F-score is 6 out of 9 and its Altman Z-score is 2.42 (grey zone) for fiscal 2025.