Copa Holdings SA (CPA) — Working Capital to Net Assets Ratio
Copa Holdings SA (CPA) has a Working Capital to Net Assets ratio of 8.8% as of March 2026. Working capital of $251.99 Million (current assets of $1.82 Billion minus current liabilities of $1.57 Billion) is measured against net assets of $2.87 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Copa Holdings SA defensive interval ratio to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Copa Holdings SA Working Capital to Net Assets (2003–2025)
This chart shows how Copa Holdings SA's Working Capital to Net Assets ratio has evolved across 23 annual periods from 2003 to 2025. As of March 2026, the ratio stands at 8.8%, reflecting working capital of $251.99 Million against net assets of $2.87 Billion USD. For the complete balance sheet picture, see CPA total asset value.
Annual Working Capital to Net Assets for Copa Holdings SA (2003–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Copa Holdings SA from 2003 to 2025, covering 23 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. Check CPA asset liquidity ratio to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 12.2% | $337.97 Million | $2.78 Billion | $1.78 Billion | $1.44 Billion | ▲ +2.8 pp |
| 2024 | 9.3% | $221.60 Million | $2.37 Billion | $1.58 Billion | $1.36 Billion | ▲ +9.8 pp |
| 2023 | -0.5% | $-10.51 Million | $2.12 Billion | $1.27 Billion | $1.28 Billion | ▼ -3.3 pp |
| 2022 | 2.8% | $42.25 Million | $1.49 Billion | $1.24 Billion | $1.19 Billion | ▼ -11.5 pp |
| 2021 | 14.3% | $185.69 Million | $1.30 Billion | $1.24 Billion | $1.05 Billion | ▼ -17.3 pp |
| 2020 | 31.6% | $405.98 Million | $1.28 Billion | $1.22 Billion | $813.39 Million | ▲ +21.7 pp |
| 2019 | 9.9% | $191.60 Million | $1.93 Billion | $1.22 Billion | $1.03 Billion | ▲ +8.8 pp |
| 2018 | 1.1% | $20.44 Million | $1.84 Billion | $1.06 Billion | $1.04 Billion | ▼ -5.5 pp |
| 2017 | 6.6% | $140.10 Million | $2.11 Billion | $1.20 Billion | $1.06 Billion | ▼ -1.3 pp |
| 2016 | 8.0% | $146.95 Million | $1.85 Billion | $1.07 Billion | $922.44 Million | ▲ +11.4 pp |
| 2015 | -3.5% | $-69.39 Million | $2.00 Billion | $910.16 Million | $979.55 Million | ▼ -5.1 pp |
| 2014 | 1.6% | $33.33 Million | $2.08 Billion | $1.00 Billion | $970.51 Million | ▼ -14.3 pp |
| 2013 | 15.9% | $301.57 Million | $1.90 Billion | $1.34 Billion | $1.04 Billion | ▲ +7.5 pp |
| 2012 | 8.4% | $128.80 Million | $1.54 Billion | $917.49 Million | $788.69 Million | ▲ +1.4 pp |
| 2011 | 7.0% | $96.70 Million | $1.39 Billion | $754.72 Million | $658.01 Million | ▼ -3.4 pp |
| 2010 | 10.4% | $107.55 Million | $1.04 Billion | $614.33 Million | $506.78 Million | ▲ +3.9 pp |
| 2009 | 6.4% | $55.57 Million | $865.63 Million | $502.15 Million | $446.58 Million | ▲ +3.2 pp |
| 2008 | 3.2% | $20.38 Million | $632.43 Million | $522.46 Million | $502.08 Million | ▲ +1.2 pp |
| 2007 | 2.0% | $10.75 Million | $531.64 Million | $435.74 Million | $424.99 Million | ▲ +15.2 pp |
| 2006 | -13.2% | $-48.92 Million | $371.67 Million | $290.65 Million | $339.57 Million | ▲ +15.0 pp |
| 2005 | -28.1% | $-69.19 Million | $245.87 Million | $184.79 Million | $253.98 Million | ▼ -35.6 pp |
| 2004 | 7.5% | $13.02 Million | $174.16 Million | $156.03 Million | $143.01 Million | ▲ +53.5 pp |
| 2003 | -46.0% | $-53.21 Million | $115.58 Million | $103.52 Million | $156.73 Million | — |