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Panama-based airline connecting North, Central and South America through its Panama City hub, a Star Alliance member.
Panama-based airline connecting North, Central and South America through its Panama City hub, a Star Alliance member.
Funnels passengers from many Latin American cities through its Panama hub, selling connecting itineraries that non-stop routes alone could not fill. A fleet mostly of Boeing 737s keeps maintenance simple. It earns extra from cargo and its ConnectMiles loyalty programme.
Moat: narrow (network effects, scale). Tocumen hub's central location for Americas connections is a geographic advantage.
Headquarters: Panama City, Panama · Founded: 1947 · Employees: 8,565
Size Copa (CPA) is a United States Industrials company (Airlines) with a market value of $5.87B, the 1076th largest of 3,117 United States companies the cockpit tracks. Shares closed at $142.80 on 6 Nov 2026.
Performance Over six months the shares gained 16.3%, against +9.7% for the median peer and -1.1% for the United States market (cap-weighted) — 9th highest of 21 in its peer set.
Growth Revenue grew 14.8% over the last twelve months (peer median +9.9%); the operating margin is 19.4% (peer median 6.2%).
Valuation It trades at 9.0× forward earnings against a peer median of 13.1× (4th cheapest of 16).
Capital Return on invested capital runs 5.7 points above its cost of capital (8.9% WACC).
Short interest Short interest is 5.4% of the free float (15 Oct 2026).
Next results Next results expected around 18 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $3.99B | $3.62B | $3.45B | $3.46B | $2.97B |
| Revenue growth | — | +5% | 0% | +17% | — |
| Gross profit | $1.11B | $1.15B | $1.10B | $1.16B | $800M |
| EBITDA | $1.17B | $1.18B | $1.08B | $1.11B | $718M |
| Net income | $627M | $672M | $608M | $514M | $348M |
| Free cash flow | -$48.6M | $83.3M | $371M | $245M | $126M |
| Capital expenditure | $1.36B | $1.10B | $656M | $830M | $651M |
| Total debt | $2.56B | $2.30B | $2.00B | $1.75B | $1.68B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Copa CPA | $5.87B | +16% | +15% | 19% | 9.0× | n/a |
| LATAM Airlines Group SA Sponsored ADR LTM | $13.8B | -7% | +21% | 14% | 7.0× | -7.2% |
| American Airlines AAL | $8.73B | -1% | +12% | 2% | n/a | n/a |
| United Airlines UAL | $36.6B | +13% | +12% | 6% | 13.6× | 7.8% |
| Delta Air Lines DAL | $57.4B | +19% | +14% | 7% | 13.4× | 9.9% |
| Controladora Vuela Compania de Aviacion SAB de CV Sponsored ADR VLRS | $850M | +3% | +19% | -5% | n/a | -13.7% |
| Grupo Aeromexico, S.A.B. de C.V. Unsponsored ADR AERO | $2.32B | +1% | +10% | 11% | 10.4× | -6.6% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | CPA | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +6.2% | +5.6% | 9th highest of 21 |
| 6-month return | +16.3% | +9.7% | 9th highest of 21 |
| Distance from 52-week high | -11.0% | -16.4% | 8th highest of 21 |
| Revenue growth (TTM) | +14.8% | +9.9% | 6th highest of 21 |
| Operating margin | 19.4% | 6.2% | highest of 21 |
| Forward P/E | 9.0× | 13.1× | 4th cheapest of 16 |
| ROIC minus cost of capital | +5.7 pp | +0.1 pp | 5th highest of 21 |
| EV / EBITDA | 6.1× | 5.0× | 5th most expensive of 15 |
| Net debt / EBITDA | 1.1× | 2.0× | 5th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Copa CPA | United States | $5.87B | +16% | +15% | 19% | 9.0× | n/a | n/a |
| Spring Airlines 601021.SS | China | $6.51B | -6% | +16% | 6% | 26.0× | n/a | n/a |
| easyJet EZJ.L | United Kingdom | $6.96B | +90% | +10% | 5% | 68.9× | 4.8% | +27.4% |
| Eva Airways 2618.TW | Taiwan | $7.12B | +28% | +6% | 14% | 10.1× | -17.0% | +19.9% |
| Air China Cargo 001391.SZ | China | $7.12B | -21% | +10% | 9% | n/a | n/a | n/a |
| Exchange Income EIF.TO | Canada | $4.77B | +13% | +33% | 11% | 24.6× | n/a | n/a |
| Hainan Airlines 600221.SS | China | $7.85B | -20% | +6% | -3% | 24.2× | 5.0% | +18.4% |
| Alaska Air ALK | United States | $4.35B | -5% | +8% | -1% | n/a | n/a | n/a |
| KAL 003490.KS | South Korea | $7.99B | +20% | +21% | 2% | 21.1× | n/a | n/a |
| Air France-KLM AF.PA | France | $3.99B | +34% | +5% | 6% | 4.7× | -6.3% | +24.4% |
| American Airlines AAL | United States | $8.73B | -1% | +12% | 2% | n/a | n/a | n/a |
| Air Canada AC.TO | Canada | $3.95B | +10% | +13% | 2% | n/a | 14.3% | +30.8% |
| China Airlines 2610.TW | Taiwan | $3.94B | +17% | +8% | 8% | 9.9× | n/a | n/a |
| Japan Airlines 9201.T | Japan | $9.08B | +34% | +10% | 8% | 15.3× | -9.7% | +33.1% |
| Ana 9202.T | Japan | $9.77B | +24% | +17% | 8% | 13.1× | -10.0% | +28.4% |
| Qantas Airways QAN.AX | Australia | $9.79B | +9% | +8% | 7% | 10.9× | n/a | n/a |
| Juneyao Airlines 603885.SS | China | $3.42B | -8% | +8% | 1% | 69.5× | 0.4% | +17.4% |
| China Eastern Airlines 600115.SS | China | $10.7B | -18% | +11% | -6% | n/a | 6.9% | +19.0% |
| Deutsche Lufthansa LHA.DE | Germany | $11.4B | +7% | +8% | -1% | 9.7× | n/a | n/a |
| SkyWest SKYW | United States | $3.02B | -10% | +7% | 14% | 7.5× | 2.2% | +13.8% |
| Cathay Pacific Airways 0293.HK | Hong Kong | $11.7B | +19% | +20% | 11% | 8.1× | -12.4% | +20.0% |