Last 48 quarters of trend data · Industrials · Airlines, Airports & Air Services
Quarterly valuation ratios — annualised for comparability. YoY Δ shows same-quarter-prior-year change.
Copa Holdings, S.A.'s quarterly P/E stands at 5.5x, up 1.9% year-over-year.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| P/E Ratio → | 9.28 | 5.50 | 7.21 | 7.06 | 7.62 | 5.40 | 5.51 | 6.70 | 8.26 | 6.21 | 5.57 | 4.72 | 62.83 |
| — | +1.9% | +31.0% | +5.3% | -7.8% | -13.1% | -1.2% | +42.0% | -86.8% | -17.4% | -40.2% | -17.4% | +1093.7% | |
| P/S Ratio | 1.72 | 1.11 | 1.29 | 1.34 | 1.35 | 1.06 | 1.04 | 1.15 | 1.21 | 1.23 | 1.17 | 1.02 | 1.37 |
| — | +4.7% | +24.0% | +16.8% | +11.1% | -13.4% | -10.9% | +12.3% | -11.8% | +14.5% | +26.7% | +24.5% | +45.9% | |
| P/B Ratio | 2.25 | 1.63 | 1.79 | 1.83 | 1.77 | 1.54 | 1.54 | 1.69 | 1.78 | 2.00 | 2.01 | 1.76 | 2.86 |
| — | +5.8% | +16.2% | +8.3% | -0.2% | -23.0% | -23.3% | -4.2% | -37.9% | -13.6% | -8.7% | -7.2% | +42.0% | |
| P/FCF | 20.22 | — | 3.53 | — | — | 4.65 | — | 5.19 | 3.68 | 5.45 | — | 2.57 | 5.13 |
| — | — | — | — | — | -14.7% | — | +101.9% | -28.2% | +19.4% | — | -16.4% | +24.5% | |
| EV / EBITDA | 7.10 | 6.16 | 8.16 | 7.50 | 8.04 | 6.08 | 6.00 | 7.13 | 8.67 | 6.54 | 6.28 | 4.17 | 20.24 |
| — | +1.3% | +36.0% | +5.2% | -7.3% | -7.0% | -4.5% | +70.8% | -57.1% | -15.9% | -30.4% | -39.7% | +194.2% | |
| EV / EBIT | 10.27 | 6.16 | 8.16 | 7.50 | 8.04 | 6.08 | 6.00 | 7.13 | 8.67 | 6.54 | 6.28 | 4.17 | 20.24 |
| — | +1.3% | +36.0% | +5.2% | -7.3% | -7.0% | -4.5% | +70.8% | -57.1% | -15.9% | -30.4% | -39.7% | +194.2% |
Quarterly margins and returns. Watch for margin compression across consecutive quarters.
Copa Holdings, S.A.'s operating margin was 24.6% in Q1 2026, up 2.1 pp QoQ and up 0.8 pp YoY. The trailing four-quarter average of 22.8% lags the current quarter, suggesting the recent improvement is above-trend. Gross margin contracted 3.1% YoY, suggesting cost inflation or competitive pricing pressure.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 35.6% | 35.9% | 33.7% | 36.9% | 34.6% | 37.0% | 37.1% | 33.8% | 33.9% | 37.5% | 36.6% | 36.6% | 38.0% |
| — | -3.1% | -9.0% | +9.0% | +2.1% | -1.1% | +1.2% | -7.7% | -10.8% | +3.1% | -5.0% | +14.0% | +73.9% | |
| Operating Margin | 22.6% | 24.6% | 22.5% | 23.2% | 21.0% | 23.8% | 23.2% | 20.3% | 19.5% | 24.2% | 23.5% | 23.6% | 24.1% |
| — | +3.3% | -3.2% | +14.4% | +7.7% | -1.6% | -1.2% | -14.0% | -19.1% | +8.5% | -4.8% | +33.1% | +294.7% | |
| Net Margin | 18.6% | 20.2% | 17.9% | 19.0% | 17.7% | 19.7% | 18.9% | 17.1% | 14.7% | 19.7% | 20.6% | 21.6% | 2.2% |
| — | +2.7% | -5.0% | +11.1% | +20.4% | -0.2% | -8.2% | -20.9% | +578.2% | +40.6% | +107.4% | +50.8% | -87.9% |
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 26.1% | 7.5% | 6.3% | 6.6% | 5.9% | 7.3% | 7.1% | 6.4% | 5.4% | 8.2% | 9.1% | 10.5% | 1.1% |
| — | +3.3% | -10.3% | +3.3% | +8.7% | -10.8% | -22.2% | -39.0% | +390.1% | +4.0% | +48.7% | +22.2% | -88.4% | |
| ROA | 10.9% | 3.2% | 2.7% | 2.8% | 2.5% | 3.1% | 2.9% | 2.7% | 2.3% | 3.4% | 3.7% | 3.7% | 0.4% |
| — | +2.5% | -8.9% | +5.4% | +11.5% | -9.2% | -19.8% | -27.6% | +546.9% | +33.3% | +93.7% | +44.3% | -87.5% | |
| ROIC | 14.1% | 3.9% | 3.4% | 3.6% | 3.1% | 4.0% | 4.0% | 3.4% | 3.2% | 4.4% | 4.5% | 4.7% | 4.7% |
| — | -1.8% | -14.9% | +5.7% | -2.8% | -8.9% | -11.9% | -28.8% | -33.4% | -7.2% | -18.0% | +25.3% | +311.1% |
Quarterly solvency trend — watch for debt spikes or covenant pressure.
Copa Holdings, S.A.'s Debt/EBITDA ratio is 8.9x, down from 11.7x last quarter — elevated, raising questions about debt serviceability. The current ratio has improved 17.8% YoY to 1.16x, strengthening the short-term liquidity position.
| Metric | TTM | Q1 '26 | Q4 '25 | Q3 '25 | Q2 '25 | Q1 '25 | Q4 '24 | Q3 '24 | Q2 '24 | Q1 '24 | Q4 '23 | Q3 '23 | Q2 '23 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.92 | 0.84 | 0.92 | 0.81 | 0.80 | 0.78 | 0.84 | 0.80 | 0.82 | 0.77 | 0.82 | 0.83 | 1.16 |
| — | +7.6% | +9.6% | +1.5% | -1.8% | +1.1% | +2.4% | -3.2% | -29.9% | -27.5% | -27.0% | -32.6% | -8.3% | |
| Debt / EBITDA | 2.16 | 8.86 | 11.68 | 9.57 | 10.39 | 8.43 | 9.50 | 9.64 | 11.31 | 7.51 | 7.54 | 5.59 | 24.53 |
| — | +5.1% | +22.9% | -0.7% | -8.2% | +12.3% | +26.0% | +72.4% | -53.9% | -26.9% | -39.7% | -50.9% | +123.4% | |
| Current Ratio | 1.23 | 1.16 | 1.23 | 1.06 | 1.04 | 0.99 | 1.16 | 1.09 | 0.98 | 0.91 | 0.99 | 0.96 | 0.74 |
| — | +17.8% | +6.1% | -2.8% | +6.2% | +8.4% | +17.3% | +13.2% | +32.7% | -17.9% | -4.2% | +3.4% | -24.3% | |
| Quick Ratio | 1.13 | 1.06 | 1.13 | 0.95 | 0.93 | 0.88 | 1.07 | 0.99 | 0.89 | 0.82 | 0.90 | 0.88 | 0.68 |
| — | +21.2% | +6.2% | -4.2% | +4.9% | +6.9% | +18.4% | +12.6% | +30.3% | -19.9% | -5.9% | +2.4% | -24.3% | |
| Interest Coverage | 8.88 | 10.56 | 7.99 | 9.31 | 8.48 | 9.90 | 9.79 | 8.20 | 7.82 | 11.98 | 11.34 | 3.59 | 2.42 |
| — | — | — | — | — | — | — | — | — | — | — | — | — |
Includes 30+ ratios · 48 years · Updated daily
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Quick answers to the most common questions about buying CPA stock.
Copa Holdings, S.A.'s current P/E is 9.3x. The average P/E over the last 4 quarters is 6.8x. Quarterly P/E ratios can vary due to seasonal revenue patterns and one-time charges.
Copa Holdings, S.A.'s current operating margin is 22.6%. Margins have been expanding over recent quarters. Quarterly margins are particularly useful for identifying trend inflections that annual data smooths over.
Quarterly financial ratios reveal short-term trend shifts — margin compression, debt spikes, or valuation re-ratings — that annual figures smooth over. They're essential for active investors tracking Copa Holdings, S.A.'s business trajectory between earnings reports.