Copa Holdings, S.A. (CPA)

Copa Holdings Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar 31, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Net Income	-	671.65	608.11	514.1	348.05	43.84
Depreciation & Amortization	-	365.14	330.71	306.11	267.7	239.95
Stock-Based Compensation	-	5.69	5.48	4.36	5.16	7.1
Other Adjustments	-	155.39	126.75	300.58	89.71	116.49
Change in Receivables	-	-30.42	-15.46	-27.56	-51.65	-36.05
Changes in Accounts Payable	-	-65.1	46.78	19.37	40.04	54.26
Changes in Income Taxes Payable	-	-73.71	-115.72	-55.41	-26.35	-3.9
Changes in Unearned Revenue	-	139.24	17.29	-26.66	110.89	90.54
Changes in Other Operating Activities	-	-17.44	-7.1	9.9	-24.99	-4.94
Operating Cash Flow	1,356	2,389	2,112	2,153	1,576	1,046
Operating Cash Flow Growth	21.10%	13.10%	-1.90%	36.63%	50.64%	1540.22%
Capital Expenditures	-923	-1,067	-626.16	-800.18	-632.23	-483.73
Sale of Property, Plant & Equipment	0.25	145.09	173.26	233.21	112.81	152.14
Purchases of Intangible Assets	-29.97	-30.92	-30.18	-29.7	-18.46	-11.59
Purchases of Investments	151.68	-1,061	-569.79	-644.91	-763.84	-1,117
Proceeds from Sale of Investments	-	695.16	709.73	698.58	749.58	1,001
Other Investing Activities	-304.5	-	-	-	-	-
Investing Cash Flow	-1,160	-1,318	-343.14	-543	-552.15	-459.14
Long-Term Debt Issued	706.81	552.2	414.59	428.31	222.48	352.28
Long-Term Debt Repaid	-234.3	-254.62	-216.65	-502.26	-249.52	-142.23
Net Long-Term Debt Issued (Repaid)	472.51	297.58	197.94	-73.95	-27.04	210.05
Repurchase of Common Stock	-50.15	-8.71	-87.31	-105.93	-167.64	-40.51
Net Common Stock Issued (Repurchased)	-50.15	-8.71	-87.31	-105.93	-167.64	-40.51
Common Dividends Paid	-269.94	-265.85	-269.14	-134.15	-	-
Other Financing Activities	-61.12	-59.09	-61.14	-80	-79.02	-80.99
Financing Cash Flow	91.3	-36.06	-219.65	-394.03	-273.69	88.54
Effect of Exchange Rate Changes on Cash and Cash Equivalents	-	-26.66	-27.12	-23.81	-21.36	-44.67
Net Cash Flow	236.06	-204.1	434.06	107.76	-67.3	136.69
Free Cash Flow	433.12	1,322	1,486	1,353	943.7	562.4
Free Cash Flow Growth	-67.23%	-11.05%	9.83%	43.37%	67.80%	2752.63%
FCF Margin	11.49%	36.54%	43.12%	39.14%	31.83%	37.25%
Free Cash Flow Per Share	10.50	32.04	35.55	33.63	19.93	13.20
Levered Free Cash Flow	256.86	250.21	451.85	-106.72	56.07	146.06
Unlevered Free Cash Flow	-174.16	-9.84	294.55	132.22	138.83	14.8

Updated May 14, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q