English

COPA HOLDINGS, S.A.

EDGAR

CPA Report (type unavailable) · filed 2026-10-09

Annual consolidated revenue for 2025: about USD 3.618B, using the latest reported figures. The previous period, 2024, was about USD 3.446B.

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Watchlist

Latest fiscal year

Revenue

3.62 billion USD

2025 · USD

Exact inputs and evidence

Revenue: 3617822000 USD Source

Operating margin

22.64%

2025 · %

Exact inputs and evidence

Operating Income: 818960000 USD Source
Revenue: 3617822000 USD Source

Operating cash flow

1.15 billion USD

2025 · USD

Exact inputs and evidence

Operating Cash Flow: 1150436000 USD Source

Free cash flow

335 million USD

2025 · USD

Exact inputs and evidence

Operating Cash Flow: 1150436000 USD Source
Capital Expenditure Including Intangibles: 815726000 USD Source

Cash and cash equivalents: 383 million USD 2025-12-31 Source
Exact value

382554000 USD
Long-term debt including current maturities: Not available
Shares outstanding: Not available

Includes later revisions to earlier periods. Annual charts exclude incomplete years.

Latest filing recorded: 2026-10-09.

Financial data available through: 2025-12-31.

Coverage by financial measure

Revenue: 11 of 11 periods available· newest 2025-12-31
Operating income: 11 of 11 periods available· newest 2025-12-31
net income: No compatible figures in this window
Operating cash flow: 11 of 11 periods available· newest 2025-12-31
capital expenditure: No compatible figures in this window
Total assets: 11 of 11 periods available· newest 2025-12-31
Total liabilities: 11 of 11 periods available· newest 2025-12-31
Current assets: 11 of 11 periods available· newest 2025-12-31
Current liabilities: 11 of 11 periods available· newest 2025-12-31
Cash and cash equivalents: 11 of 11 periods available· newest 2025-12-31
long term debt: No compatible figures in this window
shares outstanding: No compatible figures in this window

Coverage describes values retained in this snapshot. Missing values are not zero; loading limits are reported separately.

What changed year over year

Latest complete year compared with the corresponding period one year earlier. These are measured changes; they do not establish their business causes.

Revenue
+5%

Prior period

USD 3.45 billion

2024-01-01 – 2024-12-31
Current period

USD 3.62 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

3617822000 − 3446198000 = 171624000 USD

3446198000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
3617822000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Revenue · COPA HOLDINGS, S.A. · 2025-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Year-over-year change in Revenue: 171624000 USD Concept: fundies:Revenue Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:Revenue: 3617822000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#2191168 Filing: 000134510526000019 Input fundies:Revenue: 3446198000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#2192013 Filing: 000134510526000019
The citation records this snapshot. The page link may show a newer release later.
Operating cash flow
+15.4%

Prior period

USD 996.85 million

2024-01-01 – 2024-12-31
Current period

USD 1.15 billion

2025-01-01 – 2025-12-31

Exact inputs and evidence

1150436000 − 996849000 = 153587000 USD

996849000 USD · 2024-01-01 – 2024-12-31
Inspect prior input Prior source
1150436000 USD · 2025-01-01 – 2025-12-31
Inspect current input Current source

Share or cite

Citation for Year-over-year change in Operating cash flow · COPA HOLDINGS, S.A. · 2025-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Year-over-year change in Operating cash flow: 153587000 USD Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#period-changes-title Computed: Current period minus corresponding prior-year period Input fundies:OperatingCashFlow: 1150436000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1879791 Filing: 000134510526000019 Input fundies:OperatingCashFlow: 996849000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1880440 Filing: 000134510526000019
The citation records this snapshot. The page link may show a newer release later.

Comparable inputs unavailable for: Net income, Capital expenditure.

Where revenue goes

How a period’s revenue divides into costs and what remains as profit. Items marked Derived are calculated by subtraction from reported figures.

2025 2025-01-01 – 2025-12-31

Revenue USD 3.62 billion 100% of revenue
Operating costs Derived USD 2.8 billion 77% of revenue
Operating income USD 818.96 million 23% of revenue
Tax, interest and other Derived Unavailable An input is unavailable.
Net income Unavailable An input is unavailable.

Cash

Operating cash flow USD 1.15 billion 32% of revenue
Capital expenditure including intangibles USD 815.73 million 23% of revenue
Free cash flow Derived Capital expenditure here includes intangible assets. USD 334.71 million 9.3% of revenue

Share of revenue by period

Net income
Tax, interest and other
Operating costs

2016 Not shown: operating income or net income is not reported.
2017 Not shown: operating income or net income is not reported.
2018 Not shown: operating income or net income is not reported.
2019 Not shown: operating income or net income is not reported.
2020 Not shown: operating income or net income is not reported.
2021 Not shown: operating income or net income is not reported.
2022 Not shown: operating income or net income is not reported.
2023 Not shown: operating income or net income is not reported.
2024 Not shown: operating income or net income is not reported.
2025 Not shown: operating income or net income is not reported.

Values and sources

Revenue breakdown by annual reporting period
Period	Revenue	Operating costs	Operating income	Tax, interest and other	Net income	Free cash flow	Source
2016 2016-01-01 – 2016-12-31	2219186000	1954185000 Derived	265001000	Unavailable	Unavailable	506245000 Derived Capital expenditure here includes intangible assets.	Source 2016-01-01 – 2016-12-31: 2219186000 USD Inspect Revenue Open source 2016-01-01 – 2016-12-31: 265001000 USD Inspect Operating Income Open source 2016-01-01 – 2016-12-31: 594590000 USD Inspect Operating Cash Flow Open source 2016-01-01 – 2016-12-31: 88345000 USD Inspect Capital Expenditure Including Intangibles Open source
2017 2017-01-01 – 2017-12-31	2521786000	2083402000 Derived	438384000	Unavailable	Unavailable	725561000 Derived Capital expenditure here includes intangible assets.	Source 2017-01-01 – 2017-12-31: 2521786000 USD Inspect Revenue Open source 2017-01-01 – 2017-12-31: 438384000 USD Inspect Operating Income Open source 2017-01-01 – 2017-12-31: 835506000 USD Inspect Operating Cash Flow Open source 2017-01-01 – 2017-12-31: 109945000 USD Inspect Capital Expenditure Including Intangibles Open source
2018 2018-01-01 – 2018-12-31	2677627000	2518065000 Derived	159562000	Unavailable	Unavailable	424016000 Derived Capital expenditure here includes intangible assets.	Source 2018-01-01 – 2018-12-31: 2677627000 USD Inspect Revenue Open source 2018-01-01 – 2018-12-31: 159562000 USD Inspect Operating Income Open source 2018-01-01 – 2018-12-31: 543013000 USD Inspect Operating Cash Flow Open source 2018-01-01 – 2018-12-31: 118997000 USD Inspect Capital Expenditure Including Intangibles Open source
2019 2019-01-01 – 2019-12-31	2707408000	2361255000 Derived	346153000	Unavailable	Unavailable	722486000 Derived Capital expenditure here includes intangible assets.	Source 2019-01-01 – 2019-12-31: 2707408000 USD Inspect Revenue Open source 2019-01-01 – 2019-12-31: 346153000 USD Inspect Operating Income Open source 2019-01-01 – 2019-12-31: 784883000 USD Inspect Operating Cash Flow Open source 2019-01-01 – 2019-12-31: 62397000 USD Inspect Capital Expenditure Including Intangibles Open source
2020 2020-01-01 – 2020-12-31	801003000	1261933000 Derived	-460930000	Unavailable	Unavailable	-38788000 Derived Capital expenditure here includes intangible assets.	Source 2020-01-01 – 2020-12-31: 801003000 USD Inspect Revenue Open source 2020-01-01 – 2020-12-31: -460930000 USD Inspect Operating Income Open source 2020-01-01 – 2020-12-31: 5277000 USD Inspect Operating Cash Flow Open source 2020-01-01 – 2020-12-31: 44065000 USD Inspect Capital Expenditure Including Intangibles Open source
2021 2021-01-01 – 2021-12-31	1509931000	1357973000 Derived	151958000	Unavailable	Unavailable	300490000 Derived Capital expenditure here includes intangible assets.	Source 2021-01-01 – 2021-12-31: 1509931000 USD Inspect Revenue Open source 2021-01-01 – 2021-12-31: 151958000 USD Inspect Operating Income Open source 2021-01-01 – 2021-12-31: 507285000 USD Inspect Operating Cash Flow Open source 2021-01-01 – 2021-12-31: 206795000 USD Inspect Capital Expenditure Including Intangibles Open source
2022 2022-01-01 – 2022-12-31	2965033000	2514649000 Derived	450384000	Unavailable	Unavailable	503982000 Derived Capital expenditure here includes intangible assets.	Source 2022-01-01 – 2022-12-31: 2965033000 USD Inspect Revenue Open source 2022-01-01 – 2022-12-31: 450384000 USD Inspect Operating Income Open source 2022-01-01 – 2022-12-31: 758543000 USD Inspect Operating Cash Flow Open source 2022-01-01 – 2022-12-31: 254561000 USD Inspect Capital Expenditure Including Intangibles Open source
2023 2023-01-01 – 2023-12-31	3457004000	2649776000 Derived	807228000	Unavailable	Unavailable	444611000 Derived Capital expenditure here includes intangible assets.	Source 2023-01-01 – 2023-12-31: 3457004000 USD Inspect Revenue Open source 2023-01-01 – 2023-12-31: 807228000 USD Inspect Operating Income Open source 2023-01-01 – 2023-12-31: 1044786000 USD Inspect Operating Cash Flow Open source 2023-01-01 – 2023-12-31: 600175000 USD Inspect Capital Expenditure Including Intangibles Open source
2024 2024-01-01 – 2024-12-31	3446198000	2693247000 Derived	752951000	Unavailable	Unavailable	370688000 Derived Capital expenditure here includes intangible assets.	Source 2024-01-01 – 2024-12-31: 3446198000 USD Inspect Revenue Open source 2024-01-01 – 2024-12-31: 752951000 USD Inspect Operating Income Open source 2024-01-01 – 2024-12-31: 996849000 USD Inspect Operating Cash Flow Open source 2024-01-01 – 2024-12-31: 626161000 USD Inspect Capital Expenditure Including Intangibles Open source
2025 2025-01-01 – 2025-12-31	3617822000	2798862000 Derived	818960000	Unavailable	Unavailable	334710000 Derived Capital expenditure here includes intangible assets.	Source 2025-01-01 – 2025-12-31: 3617822000 USD Inspect Revenue Open source 2025-01-01 – 2025-12-31: 818960000 USD Inspect Operating Income Open source 2025-01-01 – 2025-12-31: 1150436000 USD Inspect Operating Cash Flow Open source 2025-01-01 – 2025-12-31: 815726000 USD Inspect Capital Expenditure Including Intangibles Open source

Amounts are exact, in USD.

Growth

Sales over time and how quickly they are changing.

Revenue

Revenue reported for each complete financial period.

USD 3.6B 2025

Values and sources

Revenue values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Revenue	2219186000	Revenue: 2219186000 Open source
20172017-12-31	Revenue	2521786000	Revenue: 2521786000 Open source
20182018-12-31	Revenue	2677627000	Revenue: 2677627000 Open source
20192019-12-31	Revenue	2707408000	Revenue: 2707408000 Open source
20202020-12-31	Revenue	801003000	Revenue: 801003000 Open source
20212021-12-31	Revenue	1509931000	Revenue: 1509931000 Open source
20222022-12-31	Revenue	2965033000	Revenue: 2965033000 Open source
20232023-12-31	Revenue	3457004000	Revenue: 3457004000 Open source
20242024-12-31	Revenue	3446198000	Revenue: 3446198000 Open source
20252025-12-31	Revenue	3617822000	Revenue: 3617822000 Open source

Revenue growth

Change in revenue from the same financial period one year earlier.

5% 2025

Values and sources

Revenue growth values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Year over year	-1.5%	Revenue: 2219186000 Open source Revenue: 2253710000 Open source
20172017-12-31	Year over year	13.6%	Revenue: 2521786000 Open source Revenue: 2219186000 Open source
20182018-12-31	Year over year	6.2%	Revenue: 2677627000 Open source Revenue: 2521786000 Open source
20192019-12-31	Year over year	1.1%	Revenue: 2707408000 Open source Revenue: 2677627000 Open source
20202020-12-31	Year over year	-70.4%	Revenue: 801003000 Open source Revenue: 2707408000 Open source
20212021-12-31	Year over year	88.5%	Revenue: 1509931000 Open source Revenue: 801003000 Open source
20222022-12-31	Year over year	96.4%	Revenue: 2965033000 Open source Revenue: 1509931000 Open source
20232023-12-31	Year over year	16.6%	Revenue: 3457004000 Open source Revenue: 2965033000 Open source
20242024-12-31	Year over year	-0.3%	Revenue: 3446198000 Open source Revenue: 3457004000 Open source
20252025-12-31	Year over year	5%	Revenue: 3617822000 Open source Revenue: 3446198000 Open source

Profit and cash

How much revenue becomes profit, and how much cash operations generate.

Profit margins

Operating income, net income and free cash flow as a share of revenue.

Operating margin 22.6% 2025

Free cash flow margin 9.3% 2025

Operating margin
Net margin
Free cash flow margin

Values and sources

Profit margins values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Operating margin	11.9%	Operating Income: 265001000 Open source Revenue: 2219186000 Open source
20172017-12-31	Operating margin	17.4%	Operating Income: 438384000 Open source Revenue: 2521786000 Open source
20182018-12-31	Operating margin	6%	Operating Income: 159562000 Open source Revenue: 2677627000 Open source
20192019-12-31	Operating margin	12.8%	Operating Income: 346153000 Open source Revenue: 2707408000 Open source
20202020-12-31	Operating margin	-57.5%	Operating Income: -460930000 Open source Revenue: 801003000 Open source
20212021-12-31	Operating margin	10.1%	Operating Income: 151958000 Open source Revenue: 1509931000 Open source
20222022-12-31	Operating margin	15.2%	Operating Income: 450384000 Open source Revenue: 2965033000 Open source
20232023-12-31	Operating margin	23.4%	Operating Income: 807228000 Open source Revenue: 3457004000 Open source
20242024-12-31	Operating margin	21.8%	Operating Income: 752951000 Open source Revenue: 3446198000 Open source
20252025-12-31	Operating margin	22.6%	Operating Income: 818960000 Open source Revenue: 3617822000 Open source
2016-12-31	Net margin	Not reported	Revenue: 2219186000 Open source
2017-12-31	Net margin	Not reported	Revenue: 2521786000 Open source
2018-12-31	Net margin	Not reported	Revenue: 2677627000 Open source
2019-12-31	Net margin	Not reported	Revenue: 2707408000 Open source
2020-12-31	Net margin	Not reported	Revenue: 801003000 Open source
2021-12-31	Net margin	Not reported	Revenue: 1509931000 Open source
2022-12-31	Net margin	Not reported	Revenue: 2965033000 Open source
2023-12-31	Net margin	Not reported	Revenue: 3457004000 Open source
2024-12-31	Net margin	Not reported	Revenue: 3446198000 Open source
2025-12-31	Net margin	Not reported	Revenue: 3617822000 Open source
20162016-12-31	Free cash flow margin	22.8%	Revenue: 2219186000 Open source Operating Cash Flow: 594590000 Open source Capital Expenditure Including Intangibles: 88345000 Open source
20172017-12-31	Free cash flow margin	28.8%	Revenue: 2521786000 Open source Operating Cash Flow: 835506000 Open source Capital Expenditure Including Intangibles: 109945000 Open source
20182018-12-31	Free cash flow margin	15.8%	Revenue: 2677627000 Open source Operating Cash Flow: 543013000 Open source Capital Expenditure Including Intangibles: 118997000 Open source
20192019-12-31	Free cash flow margin	26.7%	Revenue: 2707408000 Open source Operating Cash Flow: 784883000 Open source Capital Expenditure Including Intangibles: 62397000 Open source
20202020-12-31	Free cash flow margin	-4.8%	Revenue: 801003000 Open source Operating Cash Flow: 5277000 Open source Capital Expenditure Including Intangibles: 44065000 Open source
20212021-12-31	Free cash flow margin	19.9%	Revenue: 1509931000 Open source Operating Cash Flow: 507285000 Open source Capital Expenditure Including Intangibles: 206795000 Open source
20222022-12-31	Free cash flow margin	17%	Revenue: 2965033000 Open source Operating Cash Flow: 758543000 Open source Capital Expenditure Including Intangibles: 254561000 Open source
20232023-12-31	Free cash flow margin	12.9%	Revenue: 3457004000 Open source Operating Cash Flow: 1044786000 Open source Capital Expenditure Including Intangibles: 600175000 Open source
20242024-12-31	Free cash flow margin	10.8%	Revenue: 3446198000 Open source Operating Cash Flow: 996849000 Open source Capital Expenditure Including Intangibles: 626161000 Open source
20252025-12-31	Free cash flow margin	9.3%	Revenue: 3617822000 Open source Operating Cash Flow: 1150436000 Open source Capital Expenditure Including Intangibles: 815726000 Open source

Operating cash flow

Cash generated by the company’s normal business operations.

USD 1.2B 2025

Values and sources

Operating cash flow values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Operating cash flow	594590000	Operating Cash Flow: 594590000 Open source
20172017-12-31	Operating cash flow	835506000	Operating Cash Flow: 835506000 Open source
20182018-12-31	Operating cash flow	543013000	Operating Cash Flow: 543013000 Open source
20192019-12-31	Operating cash flow	784883000	Operating Cash Flow: 784883000 Open source
20202020-12-31	Operating cash flow	5277000	Operating Cash Flow: 5277000 Open source
20212021-12-31	Operating cash flow	507285000	Operating Cash Flow: 507285000 Open source
20222022-12-31	Operating cash flow	758543000	Operating Cash Flow: 758543000 Open source
20232023-12-31	Operating cash flow	1044786000	Operating Cash Flow: 1044786000 Open source
20242024-12-31	Operating cash flow	996849000	Operating Cash Flow: 996849000 Open source
20252025-12-31	Operating cash flow	1150436000	Operating Cash Flow: 1150436000 Open source

Free cash flow

Operating cash flow minus capital expenditure for the same period and unit.

USD 334.7M 2025

Values and sources

Free cash flow values and source evidence
Period	Series	Value(USD)	Source evidence
20162016-12-31	Free cash flow	506245000	Operating Cash Flow: 594590000 Open source Capital Expenditure Including Intangibles: 88345000 Open source
20172017-12-31	Free cash flow	725561000	Operating Cash Flow: 835506000 Open source Capital Expenditure Including Intangibles: 109945000 Open source
20182018-12-31	Free cash flow	424016000	Operating Cash Flow: 543013000 Open source Capital Expenditure Including Intangibles: 118997000 Open source
20192019-12-31	Free cash flow	722486000	Operating Cash Flow: 784883000 Open source Capital Expenditure Including Intangibles: 62397000 Open source
20202020-12-31	Free cash flow	-38788000	Operating Cash Flow: 5277000 Open source Capital Expenditure Including Intangibles: 44065000 Open source
20212021-12-31	Free cash flow	300490000	Operating Cash Flow: 507285000 Open source Capital Expenditure Including Intangibles: 206795000 Open source
20222022-12-31	Free cash flow	503982000	Operating Cash Flow: 758543000 Open source Capital Expenditure Including Intangibles: 254561000 Open source
20232023-12-31	Free cash flow	444611000	Operating Cash Flow: 1044786000 Open source Capital Expenditure Including Intangibles: 600175000 Open source
20242024-12-31	Free cash flow	370688000	Operating Cash Flow: 996849000 Open source Capital Expenditure Including Intangibles: 626161000 Open source
20252025-12-31	Free cash flow	334710000	Operating Cash Flow: 1150436000 Open source Capital Expenditure Including Intangibles: 815726000 Open source

Balance sheet

Liabilities and short-term ability to meet obligations at each period end.

Liabilities to assets

Total liabilities as a share of total assets.

57.8% 2025

Values and sources

Liabilities to assets values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Liabilities / assets	55.2%	Total Liabilities: 2008715000 Open source Total Assets: 3640595000 Open source
20172017-12-31	Liabilities / assets	58.1%	Total Liabilities: 2571325000 Open source Total Assets: 4422263000 Open source
20182018-12-31	Liabilities / assets	59.6%	Total Liabilities: 2645311000 Open source Total Assets: 4441905000 Open source
20192019-12-31	Liabilities / assets	55.6%	Total Liabilities: 2422472000 Open source Total Assets: 4357378000 Open source
20202020-12-31	Liabilities / assets	66.7%	Total Liabilities: 2569826000 Open source Total Assets: 3853384000 Open source
20212021-12-31	Liabilities / assets	69.4%	Total Liabilities: 2948864000 Open source Total Assets: 4248261000 Open source
20222022-12-31	Liabilities / assets	68.2%	Total Liabilities: 3198252000 Open source Total Assets: 4690362000 Open source
20232023-12-31	Liabilities / assets	59.2%	Total Liabilities: 3074688000 Open source Total Assets: 5196836000 Open source
20242024-12-31	Liabilities / assets	58.7%	Total Liabilities: 3369543000 Open source Total Assets: 5742286000 Open source
20252025-12-31	Liabilities / assets	57.8%	Total Liabilities: 3807601000 Open source Total Assets: 6583024000 Open source

Current assets to current liabilities

Current assets divided by current liabilities.

1.31× 2025

Values and sources

Current assets to current liabilities values and source evidence
Period	Series	Value	Source evidence
20162016-12-31	Current assets / current liabilities	1.23×	Current Assets: 1069391000 Open source Current Liabilities: 867555000 Open source
20172017-12-31	Current assets / current liabilities	1.03×	Current Assets: 1194631000 Open source Current Liabilities: 1164793000 Open source
20182018-12-31	Current assets / current liabilities	0.92×	Current Assets: 1059922000 Open source Current Liabilities: 1148813000 Open source
20192019-12-31	Current assets / current liabilities	1.24×	Current Assets: 1234443000 Open source Current Liabilities: 997633000 Open source
20202020-12-31	Current assets / current liabilities	1.5×	Current Assets: 1219371000 Open source Current Liabilities: 813388000 Open source
20212021-12-31	Current assets / current liabilities	1.18×	Current Assets: 1238789000 Open source Current Liabilities: 1053101000 Open source
20222022-12-31	Current assets / current liabilities	1.04×	Current Assets: 1235825000 Open source Current Liabilities: 1193571000 Open source
20232023-12-31	Current assets / current liabilities	0.99×	Current Assets: 1267963000 Open source Current Liabilities: 1278477000 Open source
20242024-12-31	Current assets / current liabilities	1.16×	Current Assets: 1576877000 Open source Current Liabilities: 1355278000 Open source
20252025-12-31	Current assets / current liabilities	1.31×	Current Assets: 1778077000 Open source Current Liabilities: 1358739000 Open source

Cash generation

Compare reported profit with operating cash and capital spending. Free cash flow is calculated as operating cash flow minus capital expenditure when both exact, consolidated amounts match the same period and unit.

Cash generation by annual reporting period
Period	Net income	Operating cash flow	Capital expenditure	Free cash flow
2016 2016-01-01 – 2016-12-31	Unavailable Not reported for this period.	USD 594.59 million Exact value Exact value: 594590000 USD 2016-01-01 – 2016-12-31: 594590000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2016-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 594590000 USD Concept: fundies:OperatingCashFlow Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2016-12-31&surface=latest&period_type=duration&start=2016-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 594590000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312519117216/cpa-20181231.xml#3300925 Filing: 000119312519117216 The citation records this snapshot. The page link may show a newer release later.	USD 88.35 million Capital expenditure here includes intangible assets. Exact value Exact value: 88345000 USD 2016-01-01 – 2016-12-31: 88345000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2016-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 88345000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2016-12-31&surface=latest&period_type=duration&start=2016-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 88345000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312519117216/cpa-20181231.xml#3317004 Filing: 000119312519117216 The citation records this snapshot. The page link may show a newer release later.	USD 506.25 million Capital expenditure here includes intangible assets. Calculation and evidence 594590000 − 88345000 USD Exact free cash flow: 506245000 USD 2016-01-01 – 2016-12-31: 594590000 USD · Inspect Operating Cash Flow · Source 2016-01-01 – 2016-12-31: 88345000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2016-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 506245000 USD Concept: free-cash-flow Period: 2016-01-01 to 2016-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 594590000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312519117216/cpa-20181231.xml#3300925 Filing: 000119312519117216 Input fundies:CapitalExpenditureIncludingIntangibles: 88345000 USD (2016-01-01 to 2016-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312519117216/cpa-20181231.xml#3317004 Filing: 000119312519117216 The citation records this snapshot. The page link may show a newer release later.
2017 2017-01-01 – 2017-12-31	Unavailable Not reported for this period.	USD 835.51 million Exact value Exact value: 835506000 USD 2017-01-01 – 2017-12-31: 835506000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2017-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 835506000 USD Concept: fundies:OperatingCashFlow Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 835506000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312520101308/cpa-20191231.xml#479644 Filing: 000119312520101308 The citation records this snapshot. The page link may show a newer release later.	USD 109.95 million Capital expenditure here includes intangible assets. Exact value Exact value: 109945000 USD 2017-01-01 – 2017-12-31: 109945000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2017-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 109945000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2017-12-31&surface=latest&period_type=duration&start=2017-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 109945000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312520101308/cpa-20191231.xml#483342 Filing: 000119312520101308 The citation records this snapshot. The page link may show a newer release later.	USD 725.56 million Capital expenditure here includes intangible assets. Calculation and evidence 835506000 − 109945000 USD Exact free cash flow: 725561000 USD 2017-01-01 – 2017-12-31: 835506000 USD · Inspect Operating Cash Flow · Source 2017-01-01 – 2017-12-31: 109945000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2017-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 725561000 USD Concept: free-cash-flow Period: 2017-01-01 to 2017-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 835506000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312520101308/cpa-20191231.xml#479644 Filing: 000119312520101308 Input fundies:CapitalExpenditureIncludingIntangibles: 109945000 USD (2017-01-01 to 2017-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312520101308/cpa-20191231.xml#483342 Filing: 000119312520101308 The citation records this snapshot. The page link may show a newer release later.
2018 2018-01-01 – 2018-12-31	Unavailable Not reported for this period.	USD 543.01 million Exact value Exact value: 543013000 USD 2018-01-01 – 2018-12-31: 543013000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2018-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 543013000 USD Concept: fundies:OperatingCashFlow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 543013000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312521128866/cpa-20201231.xml#494121 Filing: 000119312521128866 The citation records this snapshot. The page link may show a newer release later.	USD 119 million Capital expenditure here includes intangible assets. Exact value Exact value: 118997000 USD 2018-01-01 – 2018-12-31: 118997000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2018-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 118997000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2018-12-31&surface=latest&period_type=duration&start=2018-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 118997000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312521128866/cpa-20201231.xml#528955 Filing: 000119312521128866 The citation records this snapshot. The page link may show a newer release later.	USD 424.02 million Capital expenditure here includes intangible assets. Calculation and evidence 543013000 − 118997000 USD Exact free cash flow: 424016000 USD 2018-01-01 – 2018-12-31: 543013000 USD · Inspect Operating Cash Flow · Source 2018-01-01 – 2018-12-31: 118997000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2018-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 424016000 USD Concept: free-cash-flow Period: 2018-01-01 to 2018-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 543013000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312521128866/cpa-20201231.xml#494121 Filing: 000119312521128866 Input fundies:CapitalExpenditureIncludingIntangibles: 118997000 USD (2018-01-01 to 2018-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312521128866/cpa-20201231.xml#528955 Filing: 000119312521128866 The citation records this snapshot. The page link may show a newer release later.
2019 2019-01-01 – 2019-12-31	Unavailable Not reported for this period.	USD 784.88 million Exact value Exact value: 784883000 USD 2019-01-01 – 2019-12-31: 784883000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2019-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 784883000 USD Concept: fundies:OperatingCashFlow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 784883000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312522094968/d176309d20f.htm#2347513 Filing: 000119312522094968 The citation records this snapshot. The page link may show a newer release later.	USD 62.4 million Capital expenditure here includes intangible assets. Exact value Exact value: 62397000 USD 2019-01-01 – 2019-12-31: 62397000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2019-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 62397000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2019-12-31&surface=latest&period_type=duration&start=2019-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 62397000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312522094968/d176309d20f.htm#2363213 Filing: 000119312522094968 The citation records this snapshot. The page link may show a newer release later.	USD 722.49 million Capital expenditure here includes intangible assets. Calculation and evidence 784883000 − 62397000 USD Exact free cash flow: 722486000 USD 2019-01-01 – 2019-12-31: 784883000 USD · Inspect Operating Cash Flow · Source 2019-01-01 – 2019-12-31: 62397000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2019-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 722486000 USD Concept: free-cash-flow Period: 2019-01-01 to 2019-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 784883000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312522094968/d176309d20f.htm#2347513 Filing: 000119312522094968 Input fundies:CapitalExpenditureIncludingIntangibles: 62397000 USD (2019-01-01 to 2019-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312522094968/d176309d20f.htm#2363213 Filing: 000119312522094968 The citation records this snapshot. The page link may show a newer release later.
2020 2020-01-01 – 2020-12-31	Unavailable Not reported for this period.	USD 5.28 million Exact value Exact value: 5277000 USD 2020-01-01 – 2020-12-31: 5277000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2020-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 5277000 USD Concept: fundies:OperatingCashFlow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 5277000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312523079096/d801760d20f.htm#1758181 Filing: 000119312523079096 The citation records this snapshot. The page link may show a newer release later.	USD 44.07 million Capital expenditure here includes intangible assets. Exact value Exact value: 44065000 USD 2020-01-01 – 2020-12-31: 44065000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2020-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 44065000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2020-12-31&surface=latest&period_type=duration&start=2020-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 44065000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312523079096/d801760d20f.htm#1769407 Filing: 000119312523079096 The citation records this snapshot. The page link may show a newer release later.	−USD 38.79 million Capital expenditure here includes intangible assets. Calculation and evidence 5277000 − 44065000 USD Exact free cash flow: -38788000 USD 2020-01-01 – 2020-12-31: 5277000 USD · Inspect Operating Cash Flow · Source 2020-01-01 – 2020-12-31: 44065000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2020-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: -38788000 USD Concept: free-cash-flow Period: 2020-01-01 to 2020-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 5277000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312523079096/d801760d20f.htm#1758181 Filing: 000119312523079096 Input fundies:CapitalExpenditureIncludingIntangibles: 44065000 USD (2020-01-01 to 2020-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000119312523079096/d801760d20f.htm#1769407 Filing: 000119312523079096 The citation records this snapshot. The page link may show a newer release later.
2021 2021-01-01 – 2021-12-31	Unavailable Not reported for this period.	USD 507.29 million Exact value Exact value: 507285000 USD 2021-01-01 – 2021-12-31: 507285000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2021-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 507285000 USD Concept: fundies:OperatingCashFlow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 507285000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000162828024018938/cpa-20231231.htm#1855564 Filing: 000162828024018938 The citation records this snapshot. The page link may show a newer release later.	USD 206.8 million Capital expenditure here includes intangible assets. Exact value Exact value: 206795000 USD 2021-01-01 – 2021-12-31: 206795000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2021-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 206795000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2021-12-31&surface=latest&period_type=duration&start=2021-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 206795000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000162828024018938/cpa-20231231.htm#1867613 Filing: 000162828024018938 The citation records this snapshot. The page link may show a newer release later.	USD 300.49 million Capital expenditure here includes intangible assets. Calculation and evidence 507285000 − 206795000 USD Exact free cash flow: 300490000 USD 2021-01-01 – 2021-12-31: 507285000 USD · Inspect Operating Cash Flow · Source 2021-01-01 – 2021-12-31: 206795000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2021-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 300490000 USD Concept: free-cash-flow Period: 2021-01-01 to 2021-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 507285000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000162828024018938/cpa-20231231.htm#1855564 Filing: 000162828024018938 Input fundies:CapitalExpenditureIncludingIntangibles: 206795000 USD (2021-01-01 to 2021-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000162828024018938/cpa-20231231.htm#1867613 Filing: 000162828024018938 The citation records this snapshot. The page link may show a newer release later.
2022 2022-01-01 – 2022-12-31	Unavailable Not reported for this period.	USD 758.54 million Exact value Exact value: 758543000 USD 2022-01-01 – 2022-12-31: 758543000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2022-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 758543000 USD Concept: fundies:OperatingCashFlow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 758543000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000162828025020427/cpa-20241231.htm#1874761 Filing: 000162828025020427 The citation records this snapshot. The page link may show a newer release later.	USD 254.56 million Capital expenditure here includes intangible assets. Exact value Exact value: 254561000 USD 2022-01-01 – 2022-12-31: 254561000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2022-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 254561000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2022-12-31&surface=latest&period_type=duration&start=2022-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 254561000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000162828025020427/cpa-20241231.htm#1886827 Filing: 000162828025020427 The citation records this snapshot. The page link may show a newer release later.	USD 503.98 million Capital expenditure here includes intangible assets. Calculation and evidence 758543000 − 254561000 USD Exact free cash flow: 503982000 USD 2022-01-01 – 2022-12-31: 758543000 USD · Inspect Operating Cash Flow · Source 2022-01-01 – 2022-12-31: 254561000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2022-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 503982000 USD Concept: free-cash-flow Period: 2022-01-01 to 2022-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 758543000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000162828025020427/cpa-20241231.htm#1874761 Filing: 000162828025020427 Input fundies:CapitalExpenditureIncludingIntangibles: 254561000 USD (2022-01-01 to 2022-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000162828025020427/cpa-20241231.htm#1886827 Filing: 000162828025020427 The citation records this snapshot. The page link may show a newer release later.
2023 2023-01-01 – 2023-12-31	Unavailable Not reported for this period.	USD 1.04 billion Exact value Exact value: 1044786000 USD 2023-01-01 – 2023-12-31: 1044786000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2023-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 1044786000 USD Concept: fundies:OperatingCashFlow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 1044786000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1881088 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.	USD 600.18 million Capital expenditure here includes intangible assets. Exact value Exact value: 600175000 USD 2023-01-01 – 2023-12-31: 600175000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2023-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 600175000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2023-12-31&surface=latest&period_type=duration&start=2023-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 600175000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1893053 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.	USD 444.61 million Capital expenditure here includes intangible assets. Calculation and evidence 1044786000 − 600175000 USD Exact free cash flow: 444611000 USD 2023-01-01 – 2023-12-31: 1044786000 USD · Inspect Operating Cash Flow · Source 2023-01-01 – 2023-12-31: 600175000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2023-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 444611000 USD Concept: free-cash-flow Period: 2023-01-01 to 2023-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 1044786000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1881088 Filing: 000134510526000019 Input fundies:CapitalExpenditureIncludingIntangibles: 600175000 USD (2023-01-01 to 2023-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1893053 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.
2024 2024-01-01 – 2024-12-31	Unavailable Not reported for this period.	USD 996.85 million Exact value Exact value: 996849000 USD 2024-01-01 – 2024-12-31: 996849000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2024-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 996849000 USD Concept: fundies:OperatingCashFlow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 996849000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1880440 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.	USD 626.16 million Capital expenditure here includes intangible assets. Exact value Exact value: 626161000 USD 2024-01-01 – 2024-12-31: 626161000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2024-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 626161000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2024-12-31&surface=latest&period_type=duration&start=2024-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 626161000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1892389 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.	USD 370.69 million Capital expenditure here includes intangible assets. Calculation and evidence 996849000 − 626161000 USD Exact free cash flow: 370688000 USD 2024-01-01 – 2024-12-31: 996849000 USD · Inspect Operating Cash Flow · Source 2024-01-01 – 2024-12-31: 626161000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2024-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 370688000 USD Concept: free-cash-flow Period: 2024-01-01 to 2024-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 996849000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1880440 Filing: 000134510526000019 Input fundies:CapitalExpenditureIncludingIntangibles: 626161000 USD (2024-01-01 to 2024-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1892389 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.
2025 2025-01-01 – 2025-12-31	Unavailable Not reported for this period.	USD 1.15 billion Exact value Exact value: 1150436000 USD 2025-01-01 – 2025-12-31: 1150436000 USD Inspect Operating Cash Flow Open source Share or cite Citation for Operating Cash Flow · COPA HOLDINGS, S.A. · 2025-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Operating Cash Flow: 1150436000 USD Concept: fundies:OperatingCashFlow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3AOperatingCashFlow&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:OperatingCashFlow: 1150436000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1879791 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.	USD 815.73 million Capital expenditure here includes intangible assets. Exact value Exact value: 815726000 USD 2025-01-01 – 2025-12-31: 815726000 USD Inspect Capital Expenditure Including Intangibles Open source Share or cite Citation for Capital Expenditure Including Intangibles · COPA HOLDINGS, S.A. · 2025-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Capital Expenditure Including Intangibles: 815726000 USD Concept: fundies:CapitalExpenditureIncludingIntangibles Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105/explain?concept=fundies%3ACapitalExpenditureIncludingIntangibles&period=2025-12-31&surface=latest&period_type=duration&start=2025-01-01&unit=USD&dimensions= Input fundies:CapitalExpenditureIncludingIntangibles: 815726000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1891726 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.	USD 334.71 million Capital expenditure here includes intangible assets. Calculation and evidence 1150436000 − 815726000 USD Exact free cash flow: 334710000 USD 2025-01-01 – 2025-12-31: 1150436000 USD · Inspect Operating Cash Flow · Source 2025-01-01 – 2025-12-31: 815726000 USD · Inspect Capital Expenditure Including Intangibles · Source Share or cite Citation for Free cash flow · COPA HOLDINGS, S.A. · 2025-12-31 COPA HOLDINGS, S.A. (edgar:1345105) Free cash flow: 334710000 USD Concept: free-cash-flow Period: 2025-01-01 to 2025-12-31 Values: Latest reported Published: 2026-11-02T15:08:24Z Snapshot: 9ee354ae86f58541a4f0ad1cc9596b0a0f8c551e5785dc7f3dc870e26a79300b Dimensions: Consolidated View: https://fundies.io/companies/edgar/1345105?view=overview&cadence=annual&surface=latest#cash-generation-title Computed: Operating cash flow minus capital expenditure Input fundies:OperatingCashFlow: 1150436000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1879791 Filing: 000134510526000019 Input fundies:CapitalExpenditureIncludingIntangibles: 815726000 USD (2025-01-01 to 2025-12-31) Dimensions: Consolidated Source: https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm#1891726 Filing: 000134510526000019 The citation records this snapshot. The page link may show a newer release later.

Capital expenditure uses the canonical mapped positive-spending convention. A missing, ambiguous, incompatible, or negative-sign input is left blank. Values use the latest reported version.

Dataset coverage and company identifiers

Coverage reflects filings processed into this Fundies dataset; it does not imply every source filing is loaded.

494 filings · 544 latest values · 544 originally reported values

Dataset published 2026-11-02. Source filing dates and reporting periods are shown separately.

Identifiers: 0001345105, 1345105, CPA, edgar:1345105

Also known as COPA HOLDINGS, S.A., Copa Holdings, S.A.

COPA HOLDINGS, S.A.

Latest fiscal year

Revenue

Operating margin

Operating cash flow

Free cash flow

Company performance

What changed year over year

Revenue

Operating cash flow

Where revenue goes

2025 2025-01-01 – 2025-12-31

Cash

Share of revenue by period

Growth

Profit and cash

Balance sheet

Cash generation