Copa Holdings (CPA) Free Cash Flow (2014 - 2025)
Copa Holdings' (CPA) quarterly Free Cash Flow came in at -$950.0 million in Q4 2025, down 297.89% year-on-year from $480.0 million in Q4 2024, and down 290.75% quarter-over-quarter from $498.0 million in Q3 2025.
Copa Holdings (CPA) Free Cash Flow (2014 - 2025) Analysis & Trends
Copa Holdings has disclosed Free Cash Flow across 12 years of filings, most recently posting -$950.0 million for Q4 2025.
- Free Cash Flow for Q4 2025 came in at -$950.0 million, down 297.89% year-over-year; the trailing twelve-month figure through Dec 2025 was $32.3 million (down 97.16% YoY), and the FY2025 annual result was $422.8 million, down 13.57% from the prior year.
- Free Cash Flow came in at -$950.0 million for Q4 2025 at Copa Holdings, down from $498.0 million in the prior quarter.
- In the past five years, Free Cash Flow ranged from a high of $498.0 million in Q3 2025 to a low of -$950.0 million in Q4 2025.
- The 5-year median for Free Cash Flow is $203.4 million (2023), against an average of $168.0 million.
- Across the five-year window, Free Cash Flow surged 19083.86% in 2022 and slumped 297.89% in 2025, its largest moves.
- Copa Holdings' Free Cash Flow stood at $244.0 million in 2021, then sank by 30.61% to $169.3 million in 2022, then increased by 20.13% to $203.4 million in 2023, then jumped by 135.99% to $480.0 million in 2024, then plunged by 297.89% to -$950.0 million in 2025.
- The last three Free Cash Flow figures came in at -$950.0 million (Q4 2025), $498.0 million (Q3 2025), and $278.8 million (Q2 2025), per Business Quant data.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Free Cash Flow (Qtr) |
|---|---|---|---|---|---|
| 1 | Ryanair Holdings | 453.97 Bn | 448.50 Bn | 1.55 Bn | - |
| 2 | Delta Air Lines | 54.89 Bn | 49.84 Bn | 15.19 Bn | 1.43 Bn |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 47.52 Bn | 46.49 Bn | -239.00 Mn | 201.00 Mn |
| 4 | Southwest Airlines | 23.88 Bn | 20.55 Bn | 6.21 Bn | 788.00 Mn |
| 5 | Copa Holdings | 6.22 Bn | 4.88 Bn | 713.71 Mn | -949.97 Mn |
| 6 | Alaska Air | 5.64 Bn | 3.87 Bn | 3.20 Bn | 391.00 Mn |
| 7 | Skywest | 3.71 Bn | 3.08 Bn | 924.11 Mn | 130.43 Mn |
| 8 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 2.23 Bn | 2.23 Bn | - | 251.00 Mn |
| 9 | Jetblue Airways | 2.11 Bn | -62.86 Mn | 1.87 Bn | -6.00 Mn |
| 10 | Allegiant Travel | 1.82 Bn | 921.81 Mn | 651.87 Mn | 222.64 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | -949.97 Mn |
| Dec 31, 2025 | -949.97 Mn |
| Sep 30, 2025 | 498.01 Mn |
| Sep 30, 2025 | 498.01 Mn |
| Jun 30, 2025 | 278.81 Mn |
| Jun 30, 2025 | 278.81 Mn |
| Mar 31, 2025 | 205.48 Mn |
| Mar 31, 2025 | 205.48 Mn |
| Dec 31, 2024 | 480.05 Mn |
| Dec 31, 2024 | 480.05 Mn |
| Sep 30, 2024 | 188.62 Mn |
| Sep 30, 2024 | 188.62 Mn |
| Jun 30, 2024 | 269.78 Mn |
| Jun 30, 2024 | 269.78 Mn |
| Mar 31, 2024 | 201.00 Mn |
| Mar 31, 2024 | 201.00 Mn |
| Dec 31, 2023 | 203.42 Mn |
| Dec 31, 2023 | 203.42 Mn |
| Sep 30, 2023 | 344.42 Mn |
| Sep 30, 2023 | 344.42 Mn |