Copa Holdings (CPA) Operating Expenses (2009 - 2025)
Copa Holdings (CPA) posted Operating Expenses of $753.3 million for Q4 2025, up 7.48% sequentially from $700.8 million in Q3 2025, and up 11.62% YoY from $674.9 million in Q4 2024.
Copa Holdings (CPA) Operating Expenses (2009 - 2025) Analysis & Trends
Copa Holdings has reported Operating Expenses for 17 years, with the latest figure at $753.3 million in Q4 2025.
- Quarterly Operating Expenses rose 11.62% year-over-year to $753.3 million in Q4 2025, while the trailing twelve-month figure through Dec 2025 was $2.8 billion (up 3.92% YoY) and the FY2025 annual result came in at $2.8 billion, up 3.92% from the prior year.
- Operating Expenses advanced to $753.3 million in Q4 2025 per CPA's latest filing, from $700.8 million in the prior quarter.
- Over five years, Operating Expenses peaked at $753.3 million in Q4 2025 and troughed at $262.8 million in Q1 2021.
- A 5-year average of $600.7 million and a median of $664.2 million in 2022 frame the typical range for Operating Expenses.
- The widest YoY moves for Operating Expenses: up 176.99% in 2021, down 47.11% in 2021.
- Over 5 years, Operating Expenses stood at $413.7 million in 2021, then jumped by 62.18% to $671.0 million in 2022, then grew by 4.11% to $698.5 million in 2023, then dropped by 3.38% to $674.9 million in 2024, then climbed by 11.62% to $753.3 million in 2025.
- According to Business Quant data, Operating Expenses over the past three periods registered $753.3 million, $700.8 million, and $659.4 million for Q4 2025, Q3 2025, and Q2 2025 respectively.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Delta Air Lines | 53.89 Bn | 49.22 Bn | 19.07 Bn | 17.89 Bn |
| 2 | Ryanair Holdings | 29.45 Bn | 26.24 Bn | - | 4.43 Bn |
| 3 | Southwest Airlines | 19.73 Bn | 15.94 Bn | 7.33 Bn | 8.15 Bn |
| 4 | Copa Holdings | 5.35 Bn | 4.09 Bn | 1.03 Bn | 967.68 Mn |
| 5 | Alaska Air | 4.49 Bn | 1.83 Bn | 3.76 Bn | 4.23 Bn |
| 6 | Skywest | 3.99 Bn | 3.38 Bn | 1.01 Bn | 946.92 Mn |
| 7 | Allegiant Travel | 1.86 Bn | 807.93 Mn | 902.77 Mn | 922.38 Mn |
| 8 | Jetblue Airways | 1.83 Bn | -189.37 Mn | 2.32 Bn | 2.84 Bn |
| 9 | Frontier Group Holdings | 1.36 Bn | 408.77 Mn | - | 1.38 Bn |
| 10 | Republic Airways Holdings | 853.83 Mn | 576.23 Mn | 487.40 Mn | 512.40 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Dec 31, 2025 | 753.30 Mn |
| Sep 30, 2025 | 700.84 Mn |
| Jun 30, 2025 | 659.36 Mn |
| Mar 31, 2025 | 685.36 Mn |
| Dec 31, 2024 | 674.87 Mn |
| Sep 30, 2024 | 681.00 Mn |
| Jun 30, 2024 | 659.90 Mn |
| Mar 31, 2024 | 677.48 Mn |
| Dec 31, 2023 | 698.50 Mn |
| Sep 30, 2023 | 662.70 Mn |
| Jun 30, 2023 | 614.52 Mn |
| Mar 31, 2023 | 674.05 Mn |
| Dec 31, 2022 | 670.95 Mn |
| Sep 30, 2022 | 665.75 Mn |
| Jun 30, 2022 | 651.13 Mn |
| Mar 31, 2022 | 526.81 Mn |
| Dec 31, 2021 | 413.70 Mn |
| Sep 30, 2021 | 385.99 Mn |
| Jun 30, 2021 | 295.52 Mn |
| Mar 31, 2021 | 262.76 Mn |