Copa Holdings, S.A. (CPA) vs Ryanair Holdings PLC (RYAAY)

Copa Holdings, S.A. and Ryanair Holdings PLC are both Airlines companies. Ryanair Holdings PLC is the larger, with a market value of $30.3B against $5.8B — 5.2× the size. Copa Holdings, S.A. trades at the lower P/E: 9.4× against 14.3×. Copa Holdings, S.A. grew revenue faster over the last twelve months: 14.8% against 9.00%. Copa Holdings, S.A. has the higher net margin (15.7% vs 11.2%) and the lower return on invested capital (12.4% vs 15.3%). Only Copa Holdings, S.A. pays a dividend (4.74%). Across the 22 metrics below, Ryanair Holdings PLC leads on 12 and Copa Holdings, S.A. on 10.

Valuation

Metric CPA RYAAY Airlines median
P/E 9.35 14.30 9.74
P/S 1.46 1.65 0.62
P/B 2.03 2.26 2.03
Price to free cash flow 32.86 17.46 18.01
EV/EBITDA 8.84 6.93 8.55
EV/Sales 1.71 1.49 0.92
Earnings yield 10.69% 6.99% 3.19%
Free cash flow yield 3.04% 5.73% 3.20%

Profitability

Metric CPA RYAAY Airlines median
Gross margin 62.38% 51.54% 51.70%
Operating margin 19.36% 12.01% 6.13%
Net margin 15.71% 11.22% 1.73%
Free cash flow margin 4.44% 9.45% 3.29%
Return on equity 23.07% 17.26% 14.11%
Return on assets 9.54% 10.14% 1.28%
Return on invested capital 12.43% 15.34% 4.91%

Growth

Metric CPA RYAAY Airlines median
Revenue growth (TTM) 14.75% 9.00% 12.32%
EPS growth (last fiscal year) 11.81% 51.92% 9.88%
Revenue growth, 5-year CAGR 35.20% 56.66% 25.83%
Net income growth, 5-year CAGR 0.00% 0.00% 0.00%

Health

Metric CPA RYAAY Airlines median
Debt to equity 0.79 0.04 0.76
Current ratio 1.06 1.17 0.62
Net debt to EBITDA 0.54 (1.16) 1.42

Dividend

Metric CPA RYAAY Airlines median
Dividend yield 4.74% 0.00% 1.28%
Payout ratio 0.44 0.00 0.20

Size

Metric CPA RYAAY Airlines median
Market cap 5.83b 30.31b 2.23b

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