Copa Holdings, S.A.

CPA

CPACopa Holdings, S.A. US flag

New York Stock Exchange

135.84

USD

-0.99

- -

5.60BMarket Cap

Income Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Sales/Revenue/Turnover	1,831	2,249	2,608	2,705	2,254	2,219	2,522	2,678	2,707	801	1,510	2,965	3,457	3,446	3,618
+ Sales & Services Revenue	1,831	2,249	2,608	2,705	2,254	2,219	2,522	2,678	2,707	801	1,510	2,965	3,457	3,446	3,618
- Cost of Revenue	1,109	1,418	1,591	1,659	1,478	1,441	1,667	1,887	1,840	846	1,090	2,068	2,182	2,219	2,331
+ Cost of Goods & Services	1,109	1,418	1,591	1,659	1,478	1,441	1,667	1,887	1,840	846	1,090	2,068	2,182	2,219	2,331
Gross Profit	722	831	1,018	1,046	776	778	855	791	867	-45	420	898	1,275	1,228	1,286
+ Other Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Operating Expenses	337	429	500	525	523	513	416	442	432	172	273	447	468	475	467
+ Selling, General & Admin	51	72	90	112	331	333	200	210	211	70	130	224	227	208	208
+ Research & Development	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Operating Expense	285	356	410	413	192	180	216	232	221	102	143	223	241	267	259
Operating Income (Loss)	385	403	518	521	253	265	438	348	435	-218	147	450	807	753	819
- Non-Operating (Income) Loss	39	36	29	123	461	-97	26	225	142	413	92	62	196	47	43
+ Interest Expense, Net	26	21	18	11	7	24	33	27	33	53	65	70	108	26	36
+ Interest Expense	33	33	30	30	33	37	51	51	57	73	76	88	158	84	98
- Interest Income	7	12	13	18	26	13	18	24	24	20	11	18	50	59	63
+ Other Non-Op (Income) Loss	13	15	11	111	453	-121	-7	198	109	360	27	-7	88	22	8
Pretax Income	346	366	489	398	-208	362	412	123	293	-631	54	388	611	706	776
- Income Tax Expense (Benefit)	36	40	61	37	33	38	49	35	46	-24	10	40	97	98	104
- (Income) Loss from Affiliates	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) from Cont Ops	310	326	427	362	-241	323	363	88	247	-607	44	348	514	608	672
- Net Extraordinary Losses (Gains)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Discontinued Operations	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Extraord. & Accounting Changes	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Income (Loss) Incl. MI	310	326	427	362	-241	323	363	88	247	-607	44	348	514	608	672
- Minority Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income, GAAP	310	326	427	362	-241	323	363	88	247	-607	44	348	514	608	672
- Preferred Dividends	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
- Other Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Income Avail to Common, GAAP	310	326	427	362	-241	323	363	88	247	-607	44	348	514	608	672
EBIT	385	403	518	521	253	265	438	348	435	-218	147	450	807	753	819
EBITDA	461	493	655	636	403	433	606	625	718	42	386	718	1,113	1,084	1,184
EBITDA Margin (%)	25.2	21.9	25.11	23.52	17.89	19.5	24.02	23.33	26.5	5.18	25.59	24.22	32.21	31.45	32.73
EBITA	385	403	518	521	253	265	438	348	435	-218	147	450	807	753	819
Gross Margin (%)	39.41	36.96	39.02	38.67	34.42	35.06	33.89	29.52	32.02	-5.67	27.79	30.27	36.88	35.62	35.56
Operating Margin (%)	21.03	17.9	19.84	19.26	11.21	11.94	17.38	13	16.09	-27.2	9.7	15.19	23.35	21.85	22.64
Profit Margin (%)	16.95	14.51	16.39	13.37	-10.68	14.57	14.38	3.29	9.12	-75.79	2.9	11.74	14.87	17.65	18.56
Sales per Employee	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Dividend per Share	1.63	4.34	1.46	3.85	3.36	2.03	2.52	3.48	2.6	0.8	- -	- -	3.34	6.44	6.44
Depreciation Expense	76	90	137	115	151	168	167	277	282	259	240	268	306	331	365
Basic Weighted Avg Shares	44	44	44	44	44	42	42	42	42	43	43	41	40	42	41
Basic EPS, GAAP	6.98	7.35	9.62	8.15	-5.49	7.64	8.55	2.08	5.81	-14.28	1.03	8.58	12.79	14.55	16.28
Basic EPS from Cont Ops	6.98	7.35	9.62	8.15	-5.49	7.64	8.55	2.08	5.81	-14.28	1.03	8.58	12.79	14.55	16.28
Diluted Weighted Avg Shares	44	44	44	44	44	42	42	42	42	43	43	41	40	42	41
Diluted EPS, GAAP	6.98	7.35	9.62	8.15	-5.49	7.64	8.55	2.08	5.81	-14.28	1.03	8.58	12.79	14.55	16.28
Diluted EPS from Cont Ops	6.98	7.35	9.62	8.15	-5.49	7.64	8.55	2.08	5.81	-14.28	1.03	8.58	12.79	14.55	16.28

Balance Sheet (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
Total Current Assets	754	917	1,401	1,011	908	1,069	1,195	1,060	1,234	1,219	1,239	1,236	1,268	1,577	1,778
+ Cash, Cash Equivalents & STI	506	651	1,132	767	685	815	944	722	851	890	1,017	935	915	1,199	1,338
+ Cash & Cash Equivalents	244	76	139	221	205	332	239	156	159	119	211	122	206	613	383
+ ST Investments	262	575	993	545	480	483	705	566	692	771	806	812	709	586	956
+ Accounts & Notes Receiv	143	136	135	127	106	121	116	129	143	71	97	148	177	188	225
+ Accounts Receivable, Net	131	126	125	120	106	114	116	116	130	65	89	131	159	169	198
+ Notes Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Loans Receivable, Net	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Receivable, Net	12	10	10	6	- -	7	- -	13	13	6	8	17	18	19	28
+ Inventories	42	51	57	60	62	75	82	87	69	74	75	93	117	132	148
+ Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inventory Adjustments	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Inventory	42	51	57	60	62	75	82	87	69	74	75	93	117	132	148
+ Other ST Assets	63	79	78	58	55	59	53	122	172	184	49	60	59	58	67
+ Misc ST Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Prepaid Expenses	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Assets Held-for-Sale	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ ST Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Noncurrent Assets	2,312	2,562	2,552	3,068	2,611	2,571	3,228	3,382	3,123	2,634	3,009	3,455	3,929	4,165	4,805
+ Property, Plant & Equip, Net	1,654	2,285	2,349	2,505	2,454	2,418	2,999	3,060	2,823	2,362	2,679	3,118	3,520	3,768	4,417
+ Property, Plant & Equip	2,000	2,717	2,879	3,136	3,395	3,498	4,188	4,440	3,959	3,330	3,743	4,305	4,865	5,288	6,093
- Accumulated Depreciation	347	433	530	631	941	1,080	1,190	1,380	1,136	968	1,064	1,187	1,345	1,521	1,676
+ LT Investments & Receivables	105	69	38	397	1	1	66	139	134	120	200	202	259	249	249
+ LT Investments	105	69	38	397	1	1	66	139	134	120	200	202	259	249	249
+ LT Receivables	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other LT Assets	553	208	166	166	156	152	163	183	165	153	131	135	150	149	140
+ Total Intangible Assets	72	87	54	57	69	70	81	101	108	96	82	79	88	97	104
+ Goodwill	59	28	25	20	20	20	20	20	20	20	20	20	20	20	20
+ Other Intangible Assets	13	59	28	37	49	49	61	81	88	75	61	58	68	76	84
+ LT Deferred Tax Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ LT Derivative & Hedging Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Assets	481	121	112	109	87	83	82	82	57	57	49	56	62	52	35
Total Assets	3,066	3,480	3,953	4,080	3,519	3,641	4,422	4,442	4,357	3,853	4,248	4,690	5,197	5,742	6,583
+ Payables & Accruals	188	230	263	238	369	190	265	190	195	105	162	222	259	300	244
+ Accounts Payable	115	125	95	125	219	104	130	125	119	63	113	167	182	229	164
+ Accrued Taxes	71	85	122	63	67	70	74	45	56	14	36	50	71	65	75
+ Interest & Dividends Payable	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Payables & Accruals	1	19	47	50	83	16	61	20	19	27	13	5	6	6	5
+ ST Debt	131	136	156	188	246	223	405	414	220	212	271	223	291	314	239
+ ST Borrowings	131	136	156	188	246	223	298	312	123	128	197	142	222	255	173
+ ST Finance Leases	- -	- -	- -	- -	- -	- -	107	102	98	84	74	80	68	59	66
+ Other ST Liabilities	340	423	619	556	371	450	494	545	583	497	621	749	729	741	875
+ Deferred Revenue	297	383	578	408	371	405	494	502	532	487	592	707	667	681	812
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc ST Liabilities	43	40	41	147	- -	45	- -	43	50	10	29	42	62	59	64
Total Current Liabilities	659	789	1,039	981	986	863	1,165	1,149	998	813	1,053	1,194	1,278	1,355	1,359
+ LT Debt	937	1,070	914	929	1,055	961	1,166	1,249	1,145	1,183	1,334	1,460	1,456	1,687	2,066
+ LT Borrowings	937	1,070	914	929	1,055	961	876	975	938	1,036	1,229	1,302	1,240	1,416	1,808
+ LT Finance Leases	- -	- -	- -	- -	- -	- -	290	273	207	147	105	158	215	271	258
+ Other LT Liabilities	81	84	99	94	87	180	240	248	280	574	562	545	341	328	383
+ Accrued Liabilities	30	34	38	36	33	71	86	86	89	97	79	73	106	110	141
+ Pension Liabilities	6	6	9	11	- -	- -	- -	- -	- -	14	- -	- -	- -	- -	- -
+ Deferred Revenue	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Deferred Tax Liabilities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Derivatives & Hedging	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Misc LT Liabilities	45	44	51	46	54	108	155	162	191	462	483	472	234	218	242
Total Noncurrent Liabilities	1,018	1,154	1,012	1,023	1,142	1,141	1,407	1,496	1,425	1,756	1,896	2,005	1,796	2,014	2,449
Total Liabilities	1,676	1,943	2,051	2,005	2,128	2,004	2,571	2,645	2,422	2,570	2,949	3,198	3,075	3,370	3,808
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Share Capital & APIC	64	71	77	82	86	93	101	109	115	120	127	132	240	245	251
+ Common Stock	30	30	30	28	28	28	29	29	29	29	29	29	31	31	31
+ Additional Paid in Capital	34	41	47	53	57	65	73	80	86	91	98	103	209	215	220
- Treasury Stock	- -	- -	- -	18	136	136	136	136	136	136	177	345	204	291	300
+ Retained Earnings	1,324	1,458	1,821	2,011	1,442	1,682	1,890	1,829	1,965	1,324	1,368	1,716	2,096	2,435	2,841
+ Other Equity	2	8	4	- -	-1	-2	-4	-4	-9	-24	-19	-11	-9	-16	-16
Equity Before Minority Interest	1,390	1,537	1,902	2,075	1,391	1,637	1,851	1,797	1,935	1,284	1,299	1,492	2,122	2,373	2,775
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Total Equity	1,390	1,537	1,902	2,075	1,391	1,637	1,851	1,797	1,935	1,284	1,299	1,492	2,122	2,373	2,775
Total Liabilities & Equity	3,066	3,480	3,953	4,080	3,519	3,641	4,422	4,442	4,357	3,853	4,248	4,690	5,197	5,742	6,583
Shares Outstanding	44	44	44	44	42	42	42	42	42	42	42	39	42	41	41
Number of Employees	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Capital Leases - Total	- -	- -	- -	- -	- -	- -	397	376	305	231	179	238	284	330	325
Net Debt	824	1,130	931	895	1,096	852	936	1,131	902	1,045	1,215	1,322	1,256	1,057	1,598
Net Debt to Equity	59.3	73.54	48.94	43.14	78.82	52.08	50.56	62.96	46.62	81.4	93.47	88.59	59.2	44.57	57.57
Tangible Common Equity Ratio	44.01	42.73	47.4	50.17	38.3	43.89	40.77	39.06	42.99	31.61	29.22	30.65	39.82	40.31	41.23
Current Ratio	1.15	1.16	1.35	1.03	0.92	1.24	1.03	0.92	1.24	1.5	1.18	1.04	0.99	1.16	1.31
Cash Conversion Cycle	6.65	2.09	4.69	5.17	-9.06	-5.17	8.22	7.48	7.55	36.05	14.06	3.97	4.03	4.26	9.86

Cash Flow Statement (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
+ Net Income	310	326	427	362	-241	323	363	88	247	-607	44	348	514	608	672
+ Depreciation & Amortization	76	90	137	115	151	168	167	277	282	259	240	268	306	331	365
+ Non-Cash Items	22	18	42	137	451	-59	141	239	153	382	120	69	250	17	87
+ Stock-Based Compensation	8	7	6	5	4	8	7	7	6	5	7	5	4	5	6
+ Deferred Income Taxes	36	40	61	37	33	38	49	35	46	-24	10	40	97	98	104
+ Asset Impairment Charge	- -	- -	- -	- -	- -	2	1	190	90	245	-4	2	- -	-1	- -
+ Other Non-Cash Adj	-21	-29	-25	95	414	-107	83	7	11	156	106	21	148	-85	-22
+ Chg in Non-Cash Work Cap	90	103	224	-229	-44	163	165	-61	102	-29	104	74	-25	42	26
+ (Inc) Dec in Accts Receiv	-54	- -	-2	11	17	-10	-3	-3	-17	70	-36	-52	-28	-15	-30
+ (Inc) Dec in Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ (Inc) Dec in Prepaid Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Inc (Dec) in Accts Payable	35	10	-19	23	-34	19	25	11	-4	-67	54	40	19	47	-65
+ Inc (Dec) in Other	109	93	245	-262	-27	153	143	-68	123	-33	86	86	-17	10	122
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Operating Activities	498	538	830	385	317	595	836	543	785	5	507	759	1,045	997	1,150
+ Change in Fixed & Intang	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Disp in Fixed & Intang	4	- -	106	211	165	37	29	153	92	31	152	113	233	173	145
+ Disp of Fixed Prod Assets	4	- -	106	211	165	37	29	153	92	31	152	113	233	173	145
+ Disp of Intangible Assets	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Acq of Fixed & Intang	-306	-372	-285	-330	-184	-150	-320	-366	-163	-60	-495	-651	-830	-656	-1,098
+ Acq of Fixed Prod Assets	-306	-372	-285	-310	-165	-136	-301	-336	-138	-44	-484	-632	-800	-626	-1,067
+ Acq of Intangible Assets	- -	- -	- -	-20	-19	-14	-19	-30	-25	-16	-12	-18	-30	-30	-31
+ Cash (Repurchase) of Equity	- -	- -	- -	-18	-118	- -	- -	- -	- -	- -	-41	-168	-106	-87	-9
+ Increase in Capital Stock	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Decrease in Capital Stock	- -	- -	- -	-18	-118	- -	- -	- -	- -	- -	-41	-168	-106	-87	-9
+ Net Change in LT Investment	-166	-282	-387	141	52	-67	-287	64	-121	-64	-116	-14	54	140	-365
+ Dec in LT Investment	154	118	603	605	435	486	567	776	590	841	1,001	750	699	710	695
+ Inc in LT Investment	-320	-400	-990	-464	-383	-553	-854	-712	-711	-905	-1,117	-764	-645	-570	-1,061
+ Net Cash From Acq & Div	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash from Divestitures	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for Acq of Subs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Cash for JVs	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Other Investing Activities	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Investing Activities	-468	-655	-566	21	32	-180	-578	-150	-193	-94	-459	-552	-543	-343	-1,318
+ Dividends Paid	-72	-193	-65	-171	-148	-86	-107	-148	-110	-34	- -	- -	-134	-269	-266
+ Net Cash From Debt	78	138	-137	-127	-92	-163	-207	-283	-435	128	129	-106	-154	137	238
+ Cash From Debt	172	287	9	20	130	164	148	225	95	488	352	222	428	415	552
+ Repayments of Debt	-94	-149	-146	-147	-222	-327	-355	-508	-530	-360	-223	-329	-582	-278	-314
+ Other Financing Activities	- -	- -	- -	- -	- -	- -	1	- -	- -	- -	- -	- -	- -	- -	- -
+ Net Cash From Disc Ops	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash from Financing Activities	6	-54	-201	-316	-357	-249	-313	-430	-545	94	89	-274	-394	-220	-36
Effect of Foreign Exchange Rates	- -	3	- -	-7	-9	-39	-37	-46	-44	-45	-45	-21	-24	-27	-27
Net Changes in Cash	36	-171	63	90	-8	166	-56	-37	47	5	137	-67	108	434	-204
EBITDA	461	493	655	636	403	433	606	625	718	42	386	718	1,113	1,084	1,184
EBITDA Margin (%)	25.2	21.9	25.11	23.52	17.89	19.5	24.02	23.33	26.5	5.18	25.59	24.22	32.21	31.45	32.73
Free Cash Flow	192	166	545	55	133	444	516	177	622	-55	12	108	215	341	52
Net Cash Paid for Acquisitions	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Free Cash Flow to Firm	221	195	571	81	- -	477	561	214	670	- -	73	186	348	413	138
Free Cash Flow to Equity	274	304	514	158	225	334	356	77	304	119	305	133	324	681	467
Free Cash Flow per Basic Share	4.31	3.73	12.27	1.23	3.02	10.49	12.15	4.17	14.63	-1.3	0.28	2.66	5.35	8.15	1.27
Price/Free Cash Flow	3.24	4.85	6.38	6.43	4.22	5.17	4.92	3.68	4.84	49.92	3.51	2.4	2.28	2.22	2.21
Cash Flow to Net Income	1.61	1.65	1.94	1.06	-1.32	1.84	2.3	6.16	3.18	-0.01	11.57	2.18	2.03	1.64	1.71
Capital Expenditures	-306	-372	-285	-330	-184	-150	-320	-366	-163	-60	-495	-651	-830	-656	-1,098