Copa Holdings (CPA) Gross Margin (2013 - 2025)
Copa Holdings recorded quarterly Gross Margin of 74.12% in Q4 2025, little changed quarter-over-quarter from 74.07% in Q3 2025, and down 93.0% year-over-year from 1058.88% in Q4 2024.
Copa Holdings' Gross Margin history runs 13 years deep, the most recent figure standing at 74.12% for Q4 2025.
- In Q4 2025, Gross Margin fell 93.0% year-over-year to 74.12%; the TTM figure through Dec 2025 stood at 74.23% (up 178.0% YoY), while the FY2025 annual figure was 74.23%, up 178.0% from the prior year.
- Gross Margin came in at 74.12% for Q4 2025 at Copa Holdings, roughly flat from 74.07% in the prior quarter.
- In the past five years, Gross Margin ranged from a high of 76.94% in Q2 2021 to a low of 57.32% in Q2 2022.
- A 5-year average of 71.33% and a median of 72.45% in 2024 frame the typical range for Gross Margin.
- Across the five-year window, Gross Margin plunged 2212 bps in 2021 and soared 1622 bps in 2023, its largest moves.
- Copa Holdings' Gross Margin stood at 74.08% in 2021, then retreated by 7 bps to 69.25% in 2022, then gained by 3 bps to 71.06% in 2023, then grew by 6 bps to 75.05% in 2024, then dropped by 1 bps to 74.12% in 2025.
- According to Business Quant data, Gross Margin over the past three periods registered 74.12%, 74.07%, and 74.59% for Q4 2025, Q3 2025, and Q2 2025 respectively.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.78 Bn | 48.72 Bn | 15.19 Bn | 95.80% |
| 2 | Southwest Airlines | 21.39 Bn | 18.06 Bn | 6.21 Bn | 85.69% |
| 3 | Grupo Aeromexico, S.A.B. de C.V | 18.50 Bn | 17.47 Bn | -239.00 Mn | -314.47% |
| 4 | Controladora Vuela Compania de Aviacion, S.A.B. de C.V | 8.98 Bn | 8.98 Bn | - | - |
| 5 | Alaska Air | 5.26 Bn | 3.49 Bn | 3.20 Bn | 97.00% |
| 6 | Skywest | 3.43 Bn | 2.80 Bn | 924.11 Mn | 91.21% |
| 7 | Copa Holdings | 3.33 Bn | 1.99 Bn | 713.71 Mn | 74.12% |
| 8 | Jetblue Airways | 2.03 Bn | -140.72 Mn | 1.87 Bn | 83.66% |
| 9 | Allegiant Travel | 1.67 Bn | 765.78 Mn | 651.87 Mn | 97.03% |
| 10 | Frontier Group Holdings | 1.39 Bn | 618.26 Mn | 724.00 Mn | 72.98% |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 74.12% |
| Sep 30, 2025 | 74.07% |
| Jun 30, 2025 | 74.59% |
| Mar 31, 2025 | 74.18% |
| Dec 31, 2024 | 75.05% |
| Sep 30, 2024 | 72.07% |
| Jun 30, 2024 | 69.98% |
| Mar 31, 2024 | 72.54% |
| Dec 31, 2023 | 71.06% |
| Sep 30, 2023 | 70.95% |
| Jun 30, 2023 | 73.54% |
| Mar 31, 2023 | 69.39% |
| Dec 31, 2022 | 69.25% |
| Sep 30, 2022 | 63.98% |
| Jun 30, 2022 | 57.32% |
| Mar 31, 2022 | 66.54% |
| Dec 31, 2021 | 74.08% |
| Sep 30, 2021 | 74.68% |
| Jun 30, 2021 | 76.94% |
| Mar 31, 2021 | 72.37% |
| Dec 31, 2020 | 82.13% |
| Sep 30, 2020 | 96.03% |
| Jun 30, 2020 | 99.06% |
| Mar 31, 2020 | 77.00% |
| Dec 31, 2019 | 74.88% |
| Sep 30, 2019 | 74.92% |
| Jun 30, 2019 | 72.54% |
| Mar 31, 2019 | 74.68% |
| Dec 31, 2018 | 70.09% |
| Sep 30, 2018 | 69.79% |
| Jun 30, 2018 | 69.65% |
| Mar 31, 2018 | 75.67% |
| Dec 31, 2017 | 76.33% |
| Sep 30, 2017 | 77.84% |
| Jun 30, 2017 | 77.19% |
| Mar 31, 2017 | 77.84% |
| Dec 31, 2016 | 76.37% |
| Sep 30, 2016 | 75.26% |
| Jun 30, 2016 | 74.63% |
| Mar 31, 2016 | 78.33% |
| Dec 31, 2015 | 74.30% |
| Sep 30, 2015 | 72.74% |
| Jun 30, 2015 | 71.04% |
| Mar 31, 2015 | 74.55% |
| Dec 31, 2014 | -25.45% |
| Sep 30, 2014 | 67.97% |
| Jun 30, 2014 | 69.42% |
| Mar 31, 2014 | 70.85% |
| Dec 31, 2013 | -12.23% |
| Sep 30, 2013 | 70.74% |
| Jun 30, 2013 | 68.79% |
| Mar 31, 2013 | 68.69% |