Copa Holdings SA (CPA) — Defensive Interval Ratio
Copa Holdings SA (CPA) has a Defensive Interval Ratio of 389 days as of December 2025. Defensive assets of $1.54 Billion (cash $382.56 Million, short-term investments $955.60 Million, receivables $197.64 Million) cover 389 days of daily cash needs of $3.95 Million/day. See working capital to net assets of Copa Holdings SA to evaluate short-term liquidity relative to the company's equity base.
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 December 2025, the ratio stands at 389 days, meaning defensive assets of $1.54 Billion can fund 389 days of operations without new revenue. See CPA equity to assets ratio to measure how much of total assets are equity-financed.
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. For live market cap and the full company financial profile, see how much is Copa Holdings SA worth.
| 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 | — |