InsiderClue
Stocks · Industrials · Air Transportation, Scheduled

Copa Holdings, S.A.

CPA Clue Score73
Panama Fiscal year ends December CIK 0001345105
$134.23 -0.22% Close, 9 Oct 2026
Alert on the numbers Alert on insider trades
Price $134.23 +56.59% Close, 9 Oct 2026

Closing prices at the end of each trading day, from 12 Oct 2016. Not a live quote. Adjusted for share splits, so the line has no step at a split; dividends are not added back. P/E and P/FCF are the market value over the last full fiscal year's net income or free cash flow, as public on each day, so they step once a year when the annual report comes out. A hatched band marks a stretch with none: a year of net loss, or of cash burnt.

Revenue and profit

What the business sells, and what is left of it. Point at a year for the detail.
RevenueOperating incomeNet income
Fiscal year 2016Revenue2,219.2Operating income265.0Net income323.4Fiscal year 2017Revenue2,521.8 +13.6%Operating income438.4Net income362.6 +12.1%Fiscal year 2018Revenue2,677.6 +6.2%Operating income159.6Net income88.2 −75.7%Fiscal year 2019Revenue2,707.4 +1.1%Operating income346.2Net income247.0 +180.1%Fiscal year 2020Revenue801.0 −70.4%Operating income−460.9Net income−607.1 −345.8%EPS, diluted−14.28Fiscal year 2021Revenue1,509.9 +88.5%Operating income152.0Net income43.8EPS, diluted1.03Fiscal year 2022Revenue2,965.0 +96.4%Operating income450.4Net income348.1 +693.8%EPS, diluted7.88Fiscal year 2023Revenue3,457.0 +16.6%Operating income807.2Net income514.1 +47.7%EPS, diluted12.78Fiscal year 2024Revenue3,446.2 −0.3%Operating income753.0Net income608.1 +18.3%EPS, diluted14.55Fiscal year 2025Revenue3,617.8 +5.0%Operating income819.0Net income671.6 +10.4%EPS, diluted16.28
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue 2,219.2 2,521.8 2,677.6 2,707.4 801.0 1,509.9 2,965.0 3,457.0 3,446.2 3,617.8
Growth +13.6% +6.2% +1.1% −70.4% +88.5% +96.4% +16.6% −0.3% +5.0%
Operating income 265.0 438.4 159.6 346.2 −460.9 152.0 450.4 807.2 753.0 819.0
Net income 323.4 362.6 88.2 247.0 −607.1 43.8 348.1 514.1 608.1 671.6
Growth +12.1% −75.7% +180.1% −345.8% +693.8% +47.7% +18.3% +10.4%
EPS, diluted n/a n/a n/a n/a −14.28 1.03 7.88 12.78 14.55 16.28

Margins

How much of each dollar of revenue it keeps. Point at a year for the detail.
Operating marginNet margin
Fiscal year 2016Operating margin11.9%Net margin14.6%Fiscal year 2017Operating margin17.4%Net margin14.4%Fiscal year 2018Operating margin6.0%Net margin3.3%Fiscal year 2019Operating margin12.8%Net margin9.1%Fiscal year 2020Operating margin−57.5%Net margin−75.8%Fiscal year 2021Operating margin10.1%Net margin2.9%Fiscal year 2022Operating margin15.2%Net margin11.7%Fiscal year 2023Operating margin23.4%Net margin14.9%Fiscal year 2024Operating margin21.8%Net margin17.6%Fiscal year 2025Operating margin22.6%Net margin18.6%
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating margin 11.9% 17.4% 6.0% 12.8% −57.5% 10.1% 15.2% 23.4% 21.8% 22.6%
Net margin 14.6% 14.4% 3.3% 9.1% −75.8% 2.9% 11.7% 14.9% 17.6% 18.6%

Cash flow

The cash the business makes, what it reinvests, and what it hands back. Point at a year for the detail.
Operating cash flow
Fiscal year 2016Operating cash flow594.6Dividends paid−86.1Fiscal year 2017Operating cash flow835.5Dividends paid−106.8Fiscal year 2018Operating cash flow543.0Dividends paid−147.6Fiscal year 2019Operating cash flow784.9Dividends paid−110.4Fiscal year 2020Operating cash flow5.3Dividends paid−34.0Fiscal year 2021Operating cash flow507.3Dividends paid0.0Fiscal year 2022Operating cash flow758.5Dividends paid0.0Fiscal year 2023Operating cash flow1,044.8Dividends paid−134.2Fiscal year 2024Operating cash flow996.8Dividends paid−269.1Fiscal year 2025Operating cash flow1,150.4Dividends paid−265.9
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Operating cash flow 594.6 835.5 543.0 784.9 5.3 507.3 758.5 1,044.8 996.8 1,150.4
Dividends paid −86.1 −106.8 −147.6 −110.4 −34.0 0.0 0.0 −134.2 −269.1 −265.9

Balance sheet

What it holds against what it owes, at each year end. Point at a year for the detail.
CashTotal debt
Fiscal year 2016Cash331.7Total debt1,184.1Net cash (debt)−852.4Shareholders’ equity1,589.1Debt to equity0.75Fiscal year 2017Cash238.8Total debt1,174.6Net cash (debt)−935.8Shareholders’ equity1,850.9Debt to equity0.63Fiscal year 2018Cash156.2Total debt1,287.2Net cash (debt)−1,131.1Shareholders’ equity1,796.6Debt to equity0.72Fiscal year 2019Cash158.7Total debt1,060.8Net cash (debt)−902.0Shareholders’ equity1,934.9Debt to equity0.55Fiscal year 2020Cash119.1Total debt1,163.9Net cash (debt)−1,044.8Shareholders’ equity1,283.6Debt to equity0.91Fiscal year 2021Cash211.1Total debt1,425.6Net cash (debt)−1,214.6Shareholders’ equity1,299.4Debt to equity1.10Fiscal year 2022Cash122.4Total debt1,444.3Net cash (debt)−1,321.9Shareholders’ equity1,492.1Debt to equity0.97Fiscal year 2023Cash206.4Total debt1,462.7Net cash (debt)−1,256.3Shareholders’ equity2,122.1Debt to equity0.69Fiscal year 2024Cash613.3Total debt1,670.8Net cash (debt)−1,057.5Shareholders’ equity2,372.7Debt to equity0.70Fiscal year 2025Cash382.6Total debt1,980.4Net cash (debt)−1,597.9Shareholders’ equity2,775.4Debt to equity0.71
FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Cash 331.7 238.8 156.2 158.7 119.1 211.1 122.4 206.4 613.3 382.6
Total debt 1,184.1 1,174.6 1,287.2 1,060.8 1,163.9 1,425.6 1,444.3 1,462.7 1,670.8 1,980.4
Net cash (debt) −852.4 −935.8 −1,131.1 −902.0 −1,044.8 −1,214.6 −1,321.9 −1,256.3 −1,057.5 −1,597.9
Shareholders’ equity 1,589.1 1,850.9 1,796.6 1,934.9 1,283.6 1,299.4 1,492.1 2,122.1 2,372.7 2,775.4
Debt to equity 0.75 0.63 0.72 0.55 0.91 1.10 0.97 0.69 0.70 0.71

In millions of USD, except per-share figures and ratios. Fiscal years, as last filed with the SEC.

Financial statements FY2025 · 10-K

Ratios

Percentages worked out from the filed figures; debt to equity in times. Fiscal years ending December, each column as last filed with the SEC.
Click a line to chart it
Fiscal year FY2016 31 Dec 2016 FY2017 31 Dec 2017 FY2018 31 Dec 2018 FY2019 31 Dec 2019 FY2020 31 Dec 2020 FY2021 31 Dec 2021 FY2022 31 Dec 2022 FY2023 31 Dec 2023 FY2024 31 Dec 2024 FY2025 31 Dec 2025
Margins
11.9% 17.4% 6.0% 12.8% −57.5% 10.1% 15.2% 23.4% 21.8% 22.6%
16.3% 16.3% 4.6% 10.8% −78.7% 3.6% 13.1% 17.7% 20.5% 21.4%
14.6% 14.4% 3.3% 9.1% −75.8% 2.9% 11.7% 14.9% 17.6% 18.6%
Spending
79.3% 75.2% n/a n/a n/a n/a n/a n/a n/a n/a
10.6% 12.0% 28.1% 15.8% n/a 19.3% 10.3% 15.9% 13.8% 13.4%
Returns
20.4% 19.6% 4.9% 12.8% −47.3% 3.4% 23.3% 24.2% 25.6% 24.2%
8.9% 8.2% 2.0% 5.7% −15.8% 1.0% 7.4% 9.9% 10.6% 10.2%
Balance and payout
0.75 0.63 0.72 0.55 0.91 1.10 0.97 0.69 0.70 0.71
55.2% 58.1% 59.6% 55.6% 66.7% 69.4% 68.2% 59.2% 58.7% 57.8%
26.6% 29.5% 167.4% 44.7% n/a 0.0% 0.0% 26.1% 44.3% 39.6%