Copa Holdings, S.A.

CPANYSEIndustrials● Active

$133.37

$-0.22(-0.16%)

Market Cap$5.5B

P/E Ratio—

52W High$156.41

52W Low$99.32

Avg Volume475K

Open$133.98

Beta0.99

Free Cash Flow Financials Revenue

Copa Holdings, S.A. (CPA) Free Cash Flow & Analysis

Annual & trailing free cash flow, FCF margin, YoY change, valuation ratios, and peer context.

CPA · free cash flow · updated Jun 8, 2026

Core FCF metrics

CPA · FCF · TTM · margin & CAGR

Free cash flow was $308.1M for FY2025 (fiscal year ending 2025-12-31), down 9.5% year-over-year The FCF margin was 8.5%.

FY2025 Free Cash Flow$308.1M▼ -9.5% YoY

Trailing 12M (TTM)$108.4Mtrailing 4 quarters sum

FCF Margin8.5%$308.1M ÷ revenue

3-Year CAGR+34.6%FY2022 → FY2025

5-Year CAGRN/AN/A — contains negative FCF

FormulaFCF = Operating Cash Flow − Capital ExpendituresTTM = trailing 4 quarters sumCAGR → N/A if either endpoint ≤ 0

Source: FMP /cash-flow-statement · SEC 10-K / 10-Q · USDUpdated: Jun 8, 2026

Annual free cash flow history

FCF ($B, upper) · YoY Growth % (lower)

Positive FCFNegative FCF

Free Cash Flow

YoY Growth %

Annual free cash flow data

CPA · free cash flow history · annual / quarterly

Fiscal YearOperating CFCapExFree Cash FlowYoY ChangeFCF Margin

FY2025Latest$1.12B(816M)$308.1M▼ 9.5%8.5%

FY2024$996.8M(656M)$340.5M▲ +58.4%9.9%

FY2023$1.04B(830M)$214.9M▲ +70.1%6.2%

FY2022$758.5M(632M)$126.3M▲ +436.3%4.3%

FY2021$507.3M(484M)$23.6M▲ +160.7%1.6%

FCF = Operating Cash Flow − Capital Expenditures · CapEx shown as (negative) · Source: SEC filings via FMP

FCF valuation metrics

CPA · P/FCF · FCF yield · FCF per share

Copa Holdings, S.A. (CPA) trades at a FCF yield of 1.97% and a price-to-free-cash-flow ratio of 50.7x. FCF per share stands at $2.63, calculated using trailing twelve-month FCF divided by basic weighted-average shares outstanding.

FCF Yield (TTM)

1.97%

Free Cash Flow ÷ Market Cap

per FMP freeCashFlowYieldTTM definition

FCF per Share (TTM)

$2.63

TTM FCF ÷ Shares Outstanding

Price / FCF

x50.7

Share Price ÷ FCF per Share

EV / FCF (TTM)

x69.6

Enterprise Value basis

Source: FMP /key-metrics-ttm · /cash-flow-statement Q · /income-statementFY2025 · 2025-12-31

Cash flow statement summary

CPA · cash flow statement · operating / investing / financing

For FY2025, Copa Holdings, S.A. generated $1.12B in operating cash flow and spent 816M in capital expenditures, yielding $308.1M in free cash flow.

Operating Activities

+$1.12B

Cash from core business operations

2025-12-31

Investing Activities

−$1.32B

CapEx, acquisitions & investments

2025-12-31

Financing Activities

−$36.1M

Buybacks, dividends & debt

2025-12-31

FCF FormulaOperating CF ($1.12B) − |CapEx| (816M) = FCF ($308.1M)

For the complete Operating / Investing / Financing line-item breakdown:

View Full Cash Flow Statement →

Free cash flow vs peers (Industrials)

CPA vs peers · FCF

#CompanyFree Cash FlowYoYFCF MarginRelative

Copa Holdings, S.A.YOU

CPA

$308.1M-9.5%8.5%

Union Pacific Corporation

Industrials · Sorted by FCF · FMP /cash-flow-statementFull FCF Rankings →

About Free Cash Flow & Methodology

Copa Holdings, S.A. (CPA) reported free cash flow of $308.1M for FY2025 (fiscal year ending 2025-12-31), down 9.5% year-over-year. The FCF margin was 8.5%.

Based on available data, Copa Holdings, S.A. has maintained positive free cash flow for at least 12 fiscal year(s). FCF peaked at $619.7M in FY2019.

Copa Holdings, S.A.'s FCF yield is 1.97% and price-to-FCF ratio is 50.7x for FY2025, based on the latest available data.

Data sourced from FMP /cash-flow-statement · SEC 10-K / 10-Q · USD.

Q&A and summaries align with SEC 10-K/10-Q cash flow disclosures and FMP /cash-flow-statement where noted.

Revenue Financial statements Net income Earnings Forecast Price history Market cap Cash on hand P/E ratio

Frequently asked questions

CPA free cash flow · 8 questions

Copa Holdings, S.A. free cash flow was $308.1M for FY2025, down 9.5% year-over-year. On a trailing twelve-month (TTM) basis, free cash flow stands at $108.4M.

CPA free cash flowCPA FCFCPA FCF 2025CPA free cash flow TTM

▸ Source: FMP /cash-flow-statement · US GAAP · Copa Holdings, S.A. · Copa Holdings, S.A. SEC 10-K & 10-Q filings · US GAAP · Last updated: Jun 8, 2026