Copa Holdings SA (CPA) — Defensive Interval Ratio
Copa Holdings SA (CPA) has a Defensive Interval Ratio of 272 days as of March 2026. Defensive assets of $1.17 Billion (cash $-, short-term investments $959.46 Million, receivables $207.74 Million) cover 272 days of daily cash needs of $4.29 Million/day.
Defensive Interval Ratio
Defensive Assets
Daily Cash Need
Current Liabilities
Copa Holdings SA Defensive Interval Ratio (2003–2025)
This chart shows how Copa Holdings SA's Defensive Interval Ratio has evolved across 23 annual periods from 2003 to 2025. As of March 2026, the ratio stands at 272 days, meaning defensive assets of $1.17 Billion can fund 272 days of operations without new revenue. For the complete balance sheet picture, see Copa Holdings SA asset portfolio.
Annual Defensive Interval Ratio for Copa Holdings SA (2003–2025)
The table below presents the year-by-year Defensive Interval Ratio for Copa Holdings SA from 2003 to 2025, covering 23 annual filings. Each row shows defensive assets, daily cash need, the DIR in days, and the change in days compared to the prior year. See Copa Holdings SA current assets vs equity to evaluate short-term liquidity relative to the company's equity base.
| Year | DIR (days) | Defensive Assets (USD) | Daily Cash Need | Cash | ST Investments | Change (days) |
|---|---|---|---|---|---|---|
| 2025 | 292 days | $1.15 Billion | $3.95 Million/day | $- | $955.60 Million | ▲ +84 days |
| 2024 | 208 days | $773.60 Million | $3.71 Million/day | $- | $585.92 Million | ▼ -45 days |
| 2023 | 253 days | $886.09 Million | $3.50 Million/day | $- | $708.81 Million | ▼ -78 days |
| 2022 | 331 days | $1.08 Billion | $3.27 Million/day | $122.42 Million | $812.32 Million | ▲ +18 days |
| 2021 | 313 days | $903.58 Million | $2.89 Million/day | $- | $806.34 Million | ▼ -65 days |
| 2020 | 378 days | $841.91 Million | $2.23 Million/day | $- | $770.82 Million | ▲ +87 days |
| 2019 | 291 days | $822.18 Million | $2.83 Million/day | $- | $692.40 Million | ▲ +51 days |
| 2018 | 239 days | $683.99 Million | $2.86 Million/day | $- | $566.20 Million | ▼ -126 days |
| 2017 | 365 days | $1.06 Billion | $2.90 Million/day | $238.79 Million | $705.11 Million | ▲ +95 days |
| 2016 | 270 days | $683.30 Million | $2.53 Million/day | $92.89 Million | $483.00 Million | ▲ +83 days |
| 2015 | 188 days | $503.90 Million | $2.68 Million/day | $- | $416.00 Million | ▼ -45 days |
| 2014 | 233 days | $619.49 Million | $2.66 Million/day | $- | $492.74 Million | ▼ -142 days |
| 2013 | 375 days | $1.07 Billion | $2.85 Million/day | $- | $930.40 Million | ▲ +88 days |
| 2012 | 287 days | $621.17 Million | $2.16 Million/day | $- | $484.84 Million | ▲ +63 days |
| 2011 | 225 days | $405.35 Million | $1.80 Million/day | $- | $262.35 Million | ▲ +20 days |
| 2010 | 205 days | $284.30 Million | $1.39 Million/day | $- | $194.91 Million | ▲ +66 days |
| 2009 | 139 days | $170.20 Million | $1.22 Million/day | $- | $89.41 Million | ▼ -44 days |
| 2008 | 183 days | $251.22 Million | $1.38 Million/day | $- | $176.02 Million | ▲ +93 days |
| 2007 | 89 days | $103.87 Million | $1.16 Million/day | $- | $22.50 Million | ▼ -7 days |
| 2006 | 96 days | $89.64 Million | $930.34K/day | $- | $27.50 Million | ▼ -5 days |
| 2005 | 101 days | $70.18 Million | $695.83K/day | $- | $20.38 Million | ▼ -9 days |
| 2004 | 110 days | $42.93 Million | $391.81K/day | $- | $15.22 Million | ▲ +18 days |
| 2003 | 92 days | $39.38 Million | $429.41K/day | $- | $8.36 Million | — |