Copa Holdings, S.A. (CPA) Revenue History
Annual and quarterly revenue from 2013 to 2024
Compound Annual Growth Rate (CAGR)
Loading revenue history...
CPA Revenue Growth
Revenue Breakdown (FY 2024)
CPA's revenue distribution by segment and geography for fiscal year 2024
By Product/Segment
By Geography
CPA Revenue Analysis (2013–2024)
As of May 8, 2026, Copa Holdings, S.A. (CPA) generated trailing twelve-month (TTM) revenue of $3.53 billion, reflecting solid growth of +6.8% year-over-year. The most recent quarter (Q3 2025) recorded $913.1 million in revenue, up 8.4% sequentially.
Looking at the longer-term picture, CPA's 5-year compound annual growth rate (CAGR) stands at +4.9%, indicating moderate growth over time. The company achieved its highest annual revenue of $3.46 billion in 2023.
Revenue diversification analysis shows CPA's business is primarily driven by Frequent flyer program marketing services revenue (100%). With over half of revenue concentrated in Frequent flyer program marketing services revenue, the company maintains significant focus in this area while developing other growth vectors.
When compared to Industrials sector peers including VLRS (-3.3% YoY), OMAB (+5.9% YoY), and UAL (+4.7% YoY), CPA has outperformed the peer group in terms of revenue growth. Compare CPA vs VLRS →
CPA Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| CPACurrent | $3.5B | +6.8% | +4.9% | 21.8% | |
 VLRS | $3.0B | -3.3% | +23.1% | 4.4% | |
 OMAB | $16.0B | +5.9% | +24.4% | 56.0% | |
 UAL | $59.1B | +4.7% | +30.9% | 8.0% | |
 AAL | $54.6B | +3.3% | +25.8% | 2.7% | |
 DAL | $63.4B | +2.8% | +30.0% | 9.2% |
CPA Historical Revenue Data (2013–2024)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2024 | $3.45B | -0.3% | $1.10B | 31.9% | $753.0M | 21.8% |
| 2023 | $3.46B | +16.6% | $1.16B | 33.7% | $806.1M | 23.3% |
| 2022 | $2.97B | +96.4% | $800.3M | 27.0% | $450.4M | 15.2% |
| 2021 | $1.51B | +88.5% | $363.8M | 24.1% | $146.5M | 9.7% |
| 2020 | $801.0M | -70.4% | $-75,461,000 | -9.4% | $-217,843,000 | -27.2% |
| 2019 | $2.71B | +1.1% | $764.2M | 28.2% | $435.5M | 16.1% |
| 2018 | $2.68B | +6.2% | $682.1M | 25.5% | $348.2M | 13.0% |
| 2017 | $2.52B | +13.5% | $720.4M | 28.6% | $424.0M | 16.8% |
| 2016 | $2.22B | -1.3% | $562.3M | 25.3% | $276.1M | 12.4% |
| 2015 | $2.25B | -16.8% | $543.6M | 24.2% | $266.1M | 11.8% |
See CPA's True Return
Price is only half the story. See total return with reinvested dividends.
Launch CalculatorIs CPA Undervalued?
DCF intrinsic value, peer multiples, and analyst estimates — see what the stock is really worth.
View ValuationCompare CPA vs SPIR
Side-by-side business, growth, and profitability comparison vs Spire Global, Inc..
Start ComparisonCPA — Frequently Asked Questions
Quick answers to the most common questions about buying CPA stock.
Is CPA's revenue growth accelerating or slowing?
CPA maintains +6.8% revenue growth, in line with its 5-year CAGR of +4.9%. TTM revenue stands at $3.5B. Growth rate remains consistent with historical average.
What is CPA's long-term revenue growth rate?
Copa Holdings, S.A.'s 5-year revenue CAGR of +4.9% reflects the sustained expansion pattern. Current YoY growth of +6.8% is near this long-term average.
How is CPA's revenue distributed by segment?
CPA reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2013-2024 are available for download. Segment mix reveals concentration and diversification trends.