| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 90 | 8.5x | 17.8x | Top tier | |
Growth | 65 | 14.8% | 7.1% | Around median | |
Quality | 62 | 16.5% | 4.5% | Around median | |
Safety | 81 | 0.2x | 2.6x | Top tier | |
Capital Return | 91 | 5.00% | 2.12% | Top tier | |
Momentum | 51 | 21.3% | 2.9% | Around median | |
Sentiment | 90 | 8 | 3 | Top tier |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Copa Holdings, S.A. operates an air transportation network connecting markets across the Americas through the “Hub of the Americas” in Panama. By the end of Q2 FY2026, it served a network of 88 destinations in 32 countries following the announcement that Porlamar would be added beginning in November 2026. The business relies primarily on passenger transportation revenue, and the company supports this growth by increasing capacity and flights, improving passenger yield, and maintaining high operational reliability; on-time performance reached 90.6% and the flight completion rate was 99.8% during the quarter.
In Q2 FY2026, operating revenue increased 25.7% year over year to $1.1 billion, with capacity measured in available seat miles growing 16.5%, passenger yield rising 8.7%, and unit revenue increasing 7.9% to 11.6 cents. The load factor was 86.7% versus 87.3% in the comparable period, while operating profit reached $91.7 million at an 8.7% margin, compared with a 21.7% margin. Net income was $68.2 million, earnings per share were $1.67, and the net margin was 6.4%.
For FY2025, the company generated revenue of $3.6 billion, net income of $671.6 million, and earnings per share of $16.28, compared with revenue of $3.4 billion, net income of $608.1 million, and earnings per share of $14.55 in FY2024. This reflects annual revenue growth of approximately 5.9% and net income growth of approximately 10.4%, before Q2 FY2026 margins came under severe pressure from fuel costs.
Automated analysis for informational purposes only — not investment advice.
The analyst consensus is “Buy,” with an average price target of $179.20 and a range between $156 and $195. The average is approximately 11.7% above the 52-week range high of $160.47, while the lowest target is below that high, reflecting a meaningful difference in assessments of the company’s ability to restore margins. This divergence is linked to strong revenue and demand growth on one hand, and the 85% increase in fuel prices and decline in the operating margin from 21.7% to 8.7% in Q2 FY2026 on the other.
Figures in the text are as of 2026-08-30; the live price is shown at the top of the page.
Operating revenue increased 25.7% to $1.1 billion, with capacity growing 16.5%, yield increasing 8.7%, and unit revenue rising 7.9%. Conversely, the all-in fuel price increased 85% to $4.28 per gallon, causing operating profit to fall to $91.7 million and the margin to 8.7%. Net income was $68.2 million and earnings per share were $1.67, while earnings declined 53.9% year over year.
Management expects an operating margin between 17% and 19% and capacity growth between 14% and 15% in FY2026. The outlook assumes a load factor of approximately 87%, unit revenue of 12 cents, and ex-fuel unit cost of 5.7 cents. It also assumes an all-in fuel price of $3.60 per gallon, compared with an actual average of $4.28 in Q2 FY2026.
Copa served 88 destinations in 32 countries following the announcement that service to Porlamar would begin in November 2026. The company plans to transition from six to eight connecting banks beginning in March 2027 to increase travel options and improve aircraft and airport infrastructure utilization. Management said this structure gives the hub additional capacity to support growth in subsequent years, while average connection times remain broadly stable.
Copa operated its first flight equipped with Starlink service in July 2026 and was the first airline in Latin America to offer high-speed Starlink connectivity, according to the call. The company aims to complete the rollout across its fleet in the first half of 2027. The service will be free for business-class passengers, Gold, Platinum, and Presidential preferred-tier members, and Starlink subscribers, while other passengers will pay for it.
Copa ended Q2 FY2026 with approximately $1.5 billion in cash and short- and long-term investments, equivalent to 39% of trailing 12-month revenue. Total debt, including lease liabilities, was approximately $2.7 billion and was entirely associated with aircraft financing, with an average cost of debt of 3.7%. Net debt to earnings before interest, taxes, depreciation, and amortization reached 0.9 times, and the company estimated its FY2026 capital expenditures at between $700 million and $750 million.
The immediate risk is fuel volatility, as the 85% increase in the all-in price per gallon caused the Q2 FY2026 operating margin to decline to 8.7% from 21.7%. Targeted capacity growth between 14% and 15% also requires continued strong demand and stable Boeing aircraft deliveries, after one delivery moved from December 2026 to January 2027. Pricing remains exposed to changes in competitive behavior if fuel prices decline, while the lowest analyst target of $156 is below the 52-week range high of $160.47.
