Copa Holdings SA (CPA) - Net Assets
Based on the latest financial reports, Copa Holdings SA (CPA) has net assets worth $2.78 Billion USD as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($6.58 Billion) and total liabilities ($3.81 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check CPA asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $2.78 Billion |
| % of Total Assets | 42.16% |
| Annual Growth Rate | 18.58% |
| 5-Year Change | 113.59% |
| 10-Year Change | 50.22% |
| Growth Volatility | 23.62 |
Copa Holdings SA - Net Assets Trend (2001–2025)
This chart illustrates how Copa Holdings SA's net assets have evolved over time, based on quarterly financial data. Also explore total assets of Copa Holdings SA for the complete picture of this company's asset base.
Annual Net Assets for Copa Holdings SA (2001–2025)
The table below shows the annual net assets of Copa Holdings SA from 2001 to 2025. For live valuation and market cap data, see Copa Holdings SA market cap and net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $2.78 Billion | +16.95% |
| 2024-12-31 | $2.37 Billion | +11.83% |
| 2023-12-31 | $2.12 Billion | +42.22% |
| 2022-12-31 | $1.49 Billion | +14.83% |
| 2021-12-31 | $1.30 Billion | +1.23% |
| 2020-12-31 | $1.28 Billion | -33.66% |
| 2019-12-31 | $1.93 Billion | +5.12% |
| 2018-12-31 | $1.84 Billion | -12.83% |
| 2017-12-31 | $2.11 Billion | +14.28% |
| 2016-12-31 | $1.85 Billion | -7.72% |
| 2015-12-31 | $2.00 Billion | -3.54% |
| 2014-12-31 | $2.08 Billion | +9.14% |
| 2013-12-31 | $1.90 Billion | +23.77% |
| 2012-12-31 | $1.54 Billion | +10.48% |
| 2011-12-31 | $1.39 Billion | +34.02% |
| 2010-12-31 | $1.04 Billion | +19.88% |
| 2009-12-31 | $865.63 Million | +36.87% |
| 2008-12-31 | $632.43 Million | +18.96% |
| 2007-12-31 | $531.64 Million | +43.04% |
| 2006-12-31 | $371.67 Million | +51.17% |
| 2005-12-31 | $245.87 Million | +41.18% |
| 2004-12-31 | $174.16 Million | +50.68% |
| 2003-12-31 | $115.58 Million | +72.27% |
| 2002-12-31 | $67.09 Million | +44.52% |
| 2001-12-31 | $46.43 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to Copa Holdings SA's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 284055900000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $2.84 Billion | 102.35% |
| Common Stock | $30.76 Million | 1.11% |
| Other Comprehensive Income | $-15.94 Million | -0.57% |
| Total Equity | $2.78 Billion | 100.00% |
Copa Holdings SA Competitors by Market Cap
The table below lists competitors of Copa Holdings SA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Hyundai Motor Co. Ltd. Pfd. Series 1
KO:005385
|
$3.70 Billion |
|
KPJ Healthcare Bhd
KLSE:5878
|
$3.70 Billion |
|
Choice Properties Real Estate Investment Trust
TO:CHP-UN
|
$3.70 Billion |
|
Catcher Technology Co Ltd
TW:2474
|
$3.71 Billion |
|
Hangzhou Zhongheng Electric Co Ltd
SHE:002364
|
$3.70 Billion |
|
Allied Gold Corporation
TO:AAUC
|
$3.70 Billion |
|
China Railway Construction Heavy Industry Corp Ltd
SHG:688425
|
$3.70 Billion |
|
China Film Co Ltd
SHG:600977
|
$3.70 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Copa Holdings SA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 2,373,158,000 to 2,775,423,000, a change of 402,265,000 (17.0%).
- Net income of 671,648,000 contributed positively to equity growth.
- Dividend payments of 265,851,999 reduced retained earnings.
- Share repurchases of 8,705,000 reduced equity.
- Other comprehensive income decreased equity by 192,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $671.65 Million | +24.2% |
| Dividends Paid | $265.85 Million | -9.58% |
| Share Repurchases | $8.71 Million | -0.31% |
| Other Comprehensive Income | $-192.00K | -0.01% |
| Other Changes | $5.37 Million | +0.19% |
| Total Change | $- | 16.95% |
Book Value vs Market Value Analysis
This analysis compares Copa Holdings SA's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.82x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 113.01x to 1.82x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2001-12-31 | $1.08 | $122.55 | x |
| 2002-12-31 | $1.56 | $122.55 | x |
| 2003-12-31 | $2.69 | $122.55 | x |
| 2004-12-31 | $4.06 | $122.55 | x |
| 2005-12-31 | $5.75 | $122.55 | x |
| 2006-12-31 | $8.61 | $122.55 | x |
| 2007-12-31 | $12.23 | $122.55 | x |
| 2008-12-31 | $14.43 | $122.55 | x |
| 2009-12-31 | $19.71 | $122.55 | x |
| 2010-12-31 | $23.59 | $122.55 | x |
| 2011-12-31 | $31.26 | $122.55 | x |
| 2012-12-31 | $34.60 | $122.55 | x |
| 2013-12-31 | $42.84 | $122.55 | x |
| 2014-12-31 | $46.75 | $122.55 | x |
| 2015-12-31 | $45.64 | $122.55 | x |
| 2016-12-31 | $43.61 | $122.55 | x |
| 2017-12-31 | $49.78 | $122.55 | x |
| 2018-12-31 | $43.64 | $122.55 | x |
| 2019-12-31 | $45.77 | $122.55 | x |
| 2020-12-31 | $30.20 | $122.55 | x |
| 2021-12-31 | $30.50 | $122.55 | x |
| 2022-12-31 | $31.51 | $122.55 | x |
| 2023-12-31 | $52.79 | $122.55 | x |
| 2024-12-31 | $56.78 | $122.55 | x |
| 2025-12-31 | $67.27 | $122.55 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Copa Holdings SA utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 24.20%
- The company demonstrates strong efficiency in generating profits from shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 18.56%
- • Asset Turnover: 0.55x
- • Equity Multiplier: 2.37x
- Recent ROE (24.20%) is above the historical average (19.74%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2001 | 31.92% | 5.10% | 0.97x | 6.46x | $10.18 Million |
| 2002 | 30.80% | 6.87% | 0.71x | 6.29x | $13.96 Million |
| 2003 | 41.95% | 14.19% | 0.58x | 5.12x | $36.93 Million |
| 2004 | 39.37% | 17.15% | 0.57x | 4.03x | $51.16 Million |
| 2005 | 33.76% | 13.64% | 0.66x | 3.73x | $58.41 Million |
| 2006 | 36.01% | 15.72% | 0.68x | 3.38x | $96.67 Million |
| 2007 | 30.44% | 15.75% | 0.60x | 3.21x | $108.66 Million |
| 2008 | 18.76% | 9.21% | 0.66x | 3.09x | $55.42 Million |
| 2009 | 28.78% | 19.83% | 0.60x | 2.42x | $162.52 Million |
| 2010 | 23.23% | 17.04% | 0.57x | 2.39x | $137.28 Million |
| 2011 | 22.32% | 16.95% | 0.60x | 2.20x | $171.34 Million |
| 2012 | 21.25% | 14.51% | 0.65x | 2.27x | $172.82 Million |
| 2013 | 22.48% | 16.39% | 0.66x | 2.08x | $237.30 Million |
| 2014 | 17.43% | 13.37% | 0.66x | 1.96x | $154.11 Million |
| 2015 | -11.24% | -10.00% | 0.54x | 2.08x | $-425.19 Million |
| 2016 | 18.11% | 15.06% | 0.58x | 2.08x | $149.79 Million |
| 2017 | 17.24% | 14.44% | 0.59x | 2.01x | $152.90 Million |
| 2018 | 4.79% | 3.29% | 0.66x | 2.22x | $-95.87 Million |
| 2019 | 12.77% | 9.12% | 0.62x | 2.25x | $53.51 Million |
| 2020 | -47.30% | -75.79% | 0.21x | 3.00x | $-735.42 Million |
| 2021 | 3.37% | 2.90% | 0.36x | 3.27x | $-86.10 Million |
| 2022 | 23.33% | 11.74% | 0.63x | 3.14x | $198.84 Million |
| 2023 | 24.23% | 14.87% | 0.67x | 2.45x | $301.88 Million |
| 2024 | 25.62% | 17.65% | 0.60x | 2.42x | $370.80 Million |
| 2025 | 24.20% | 18.56% | 0.55x | 2.37x | $394.11 Million |
Industry Comparison
This section compares Copa Holdings SA's net assets metrics with peer companies in the Airlines industry.
Industry Context
- Industry: Airlines
- Average net assets among peers: $-48,474,667
- Average return on equity (ROE) among peers: 30.58%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Copa Holdings SA (CPA) | $2.78 Billion | 31.92% | 1.37x | $3.70 Billion |
| American Airlines Group (AAL) | $5.63 Billion | 135.05% | 7.59x | $6.80 Billion |
| Grupo Aeroméxico, S.A.B. de C.V. (AERO) | $-730.83 Million | 0.00% | 0.00x | $218.96 Million |
| Allegiant Travel Company (ALGT) | $690.32 Million | 23.44% | 2.62x | $1.48 Billion |
| Alaska Air Group Inc (ALK) | $885.50 Million | -5.94% | 3.60x | $4.64 Billion |
| Delta Air Lines Inc (DAL) | $11.64 Billion | 90.53% | 3.49x | $37.84 Billion |
| flyExclusive, Inc. (FLYX) | $49.69 Million | 16.27% | 5.17x | $51.37 Million |
| flyExclusive, Inc. (FLYX) | $-84.27 Million | 0.00% | 0.00x | $111.74 Million |
| Gol Linhas Aéreas Inteligentes S.A (GOLLQ) | $-21.05 Billion | 0.00% | 0.00x | $33.88 Million |
| JetBlue Airways Corp (JBLU) | $2.53 Billion | 15.86% | 2.10x | $1.83 Billion |
About Copa Holdings SA
Copa Holdings, S.A., through its subsidiaries, provides airline passenger, and cargo and mail transportation services in North America, South America, Central America, and the Caribbean. As of December 31, 2025, it operated through a fleet of 125 aircraft. The company was founded in 1947 and is based in Panama City, Panama.