CPA
Copa Holdings, S.A.
CPA's fundamentals are mixed: revenue grew 15%, but its operating margin fell 3 points to 20%. At 9.4x earnings, it's trading in line with its usual 8.6x. Analysts expect strong earnings growth, though they disagree widely on how much.
CPA Fundamentals
| Metric | Status |
|---|---|
| Healthy | |
| Healthy | |
| Healthy | |
| Strong |
CPA's revenue, profitability, cash flow and balance sheet are all currently healthy.
CPA PE Valuation
| Level | PE | Price | Vs current |
|---|---|---|---|
| Cheap | 6.6x | $100 | -30% |
| Forward | 8.2x | $143 | — |
| Fair | 8.5x | $130 | -9.1% |
| Current | 9.4x | $143 | — |
| Expensive | 11x | $171 | +20% |
Historical ranges are pointers, not guarantees.
CPA's PE is in its fair range at 9.4x. If earnings grow as analysts expect, today's price would be 8.2x next year's earnings.
CPA Forward outlook
| Metric | Outlook |
|---|---|
| Improving | |
| Strong growth | |
| Growth | |
| Improving | |
| Limited | |
| Low |
Analysts expect earnings and revenue growth for CPA, with profitability improving. However, they disagree widely on these estimates.
CPA Earnings Per Share
| Quarter | TTM EPS | YoY |
|---|---|---|
| Forward | $17.32 | +14% |
| Q2 2026 | $15.22 | -1% |
| Q1 2026 | $17.16 | +17% |
| Q4 2025 | $16.28 | +12% |
| Q3 2025 | $16.09 | +4.9% |
| Q2 2025 | $15.38 | -7.1% |
| Q1 2025 | $14.65 | +3.8% |
| Q4 2024 | $14.56 | +12% |
| Q3 2024 | $15.34 | +47% |
CPA earned $15.22 per share over the past year, down 1% from the year before.
CPA Quarterly Revenue
| Quarter | Revenue | YoY |
|---|---|---|
| Q2 2026 | $1.1B | +26% |
| Q1 2026 | $1.1B | +17% |
| Q4 2025 | $962.9M | +9.6% |
| Q3 2025 | $913.1M | +6.8% |
| Q2 2025 | $842.6M | +2.8% |
| Q1 2025 | $899.2M | +0.6% |
| Q4 2024 | $878.6M | -3.7% |
| Q3 2024 | $854.7M | -1.5% |
CPA's revenue has grown year over year for six quarters in a row: $1.1B last quarter, up 26% from the same quarter a year ago.
| Quarter | Margin | YoY |
|---|---|---|
| Q2 2026 | 8.7% | -12 points |
| Q1 2026 | 25% | +0.8 points |
| Q4 2025 | 22% | -0.7 points |
| Q3 2025 | 23% | +2.9 points |
| Q2 2025 | 21% | +1.5 points |
| Q1 2025 | 24% | -0.4 points |
| Q4 2024 | 23% | -0.3 points |
| Q3 2024 | 20% | -3.3 points |
CPA's operating margin was 8.7% last quarter, down 12 points from the same quarter a year ago.
CPA Free Cash Flow
| Quarter | Free cash flow | YoY |
|---|---|---|
| Q2 2026 | -$49.5M | +$62.2M |
| Q1 2026 | -$54.4M | -126% |
| Q4 2025 | $352.5M | +$641.2M |
| Q3 2025 | -$78M | -141% |
| Q2 2025 | -$111.7M | -141% |
| Q1 2025 | $205.5M | +2.2% |
| Q4 2024 | -$288.7M | +$231.3M |
| Q3 2024 | $188.6M | -45% |
CPA's free cash flow has turned positive again: $171M over the past year, against −$6M the year before.
CPA Total Shares
| Period | Change % | Net change |
|---|---|---|
| Quarterly | -0.7% | -278K shares |
| 1 year | -0.8% | -341K shares |
| 3 years | +1.8% | +704K shares |
| 5 years | -4.1% | -1.7M shares |
| Available history | -3.7% | -1.6M shares |
CPA has 41M diluted shares, down 0.8% from a year ago.
| Quarter | Spent |
|---|---|
| Q2 2026 | — |
| Q1 2026 | $45M |
| Q4 2025 | $1,000 |
| Q3 2025 | — |
| Q2 2025 | $8.7M |
| Q1 2025 | — |
| Q4 2024 | $87.3M |
| Q3 2024 | — |
CPA spent $45M buying back its own shares over the past year, down 53% from the year before.
CPA Net Leverage
| Quarter | Net Leverage | Status |
|---|---|---|
| Q2 2026 | 0.2x | Very low |
| Q1 2026 | 1.6x | Healthy |
| Q4 2025 | 1.8x | Healthy |
| Q3 2025 | 1.6x | Healthy |
| Q2 2025 | 1.6x | Healthy |
| Q1 2025 | 1.6x | Healthy |
| Q4 2024 | 1.3x | Healthy |
| Q3 2024 | 1.4x | Healthy |
CPA's net debt is less than a year of its operating earnings (EBITDA), down from 1.6 years a year ago.
CPA Weekly Momentum
| Metric | Value | Status |
|---|---|---|
| RSI | 57.9 | Neutral |
| Stochastic | 49.0 | Neutral |
CPA's weekly RSI is 58 (neutral) and its Stochastic is 49 (neutral).
CPA PE vs Industrials Sector
| Metric | CPA | Sector median | Relative |
|---|---|---|---|
| PE | 9.4x | 24x | 61% below |
| PE % | 62 | 58 | 4 pts above |
CPA is trading at 9.4x earnings, a 61% discount to the Industrials sector's median of 24x.
CPA Weekly Moving Averages
| Moving average | MA price | Relative |
|---|---|---|
| 8 week MA | $134.9 | 5.9% above |
| 20 week MA | $136.5 | 4.6% above |
| 50 week MA | $132.3 | 7.9% above |
| 100 week MA | $118.8 | 20% above |
| 200 week MA | $107.8 | 33% above |
CPA is in an uptrend: it's above all five of its weekly moving averages, and 33% above its 200-week average.
CPA Yearly ROI
| Year | Start price | End price | ROI |
|---|---|---|---|
| 2020 | $107.5 | $74.9 | -30% |
| 2021 | $74.9 | $82.4 | +10% |
| 2022 | $82.4 | $84.6 | +2.6% |
| 2023 | $84.6 | $106.3 | +26% |
| 2024 | $106.3 | $87.6 | -18% |
| 2025 | $87.6 | $121.5 | +39% |
| 2026 YTD | $121.5 | $142.8 | +18% |
CPA has finished higher in four of the last six years. It's up 18% so far in 2026.