# Copa Holdings, S.A. (CPA)

> Source: Nexqual · https://nexqual.com/CPA · data as of 2026-10-22 20:00 UTC · cite as "Nexqual, Copa Holdings, S.A. (CPA), nexqual.com/CPA" · informational, not investment advice.

**Price:** USD 134.86 (-0.94% on the day) · last close of Oct 22, 2026; US market pre market, not a live price. Prev close 136.14 · day 132.94–136.74 · 52w 107.44–160.47 · market cap $5.50B · NYQ

## Key facts
- Analysts: Buy (mean 1.93 on a 1–5 scale) (15 analysts), mean target USD 178.47 (range 152–205).
- Total return with dividends: 1Y +13.2% vs S&P 500 +14.9%; 5Y +108.6% vs S&P 500 +80.3%.
- Next earnings: 2026-11-18, EPS estimate USD 3.76, revenue estimate $1.18B.

## Analysts
Consensus Buy (mean 1.93 on a 1–5 scale), 15 analysts; mean target USD 178.47 (low 152, high 205).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-08-24 | Raymond James | Target lowered | Strong Buy | $195 → $185 |
| 2026-08-11 | UBS | Target lowered | Buy | $195 → $185 |
| 2026-07-14 | Raymond James | Target raised | Strong Buy | $190 → $195 |
| 2026-06-25 | Evercore ISI Group | Target raised | Outperform | $175 → $200 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-23) | 5Y (from 2021-10-18) |
|---|---|---|
| Total return | +13.2% | +108.6% |
| S&P 500 (SPY) | +14.9% | +80.3% |
| Per year | +13.2% | +15.8% |
| Volatility (annualized) | 42.4% | 32.2% |
| Max drawdown | -29.2% (Feb 2026→Mar 2026) | -35.6% (Feb 2022→Jun 2022) |

## Peers (Airlines)
AAL (American Airlines Group, Inc.) USD 12.6 +2.94% · ALK (Alaska Air Group, Inc.) USD 35.38 +5.49% · SKYW (SkyWest, Inc.) USD 95.73 +1.57% · AERO (Grupo Aeromexico, S.A.B. de C.V) USD 15.21 -0.33% · LTM (LATAM Airlines Group S.A.) USD 47.22 -1.81% · ALGT (Allegiant Travel Company) USD 70.36 +0.44%

## More
Full page: https://nexqual.com/CPA · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt

## Supply chain and relationships (SEC annual reports)

Named in CPA's own 20-F filed 2026-02-26 (https://www.sec.gov/Archives/edgar/data/1345105/000134510526000019/cpa-20251231.htm):

| Relationship | Company | Sentence in the filing |
|---|---|---|
| Supplier | Boeing (BA) | "If any of Boeing, CFM International or General Electric are unable to perform their contractual obligations, or if we are unable to acquire or lease new aircraft or engines from aircraft or engine manufacturers or lessor…" |
| Customer | Meta Platforms (META) | "In recent years, we have increased our use of digital marketing, including social media via Facebook, Instagram and Twitter (X) to enhance our brand image and engage customers in a new way." |
| Partner | United Airlines Holdings, Inc. (UAL) | "Copa has a strategic alliance with United Airlines, or "UAL" or "United," that encompasses joint marketing strategies and code-sharing arrangements, among other things." |
| Partner | AZUL SA (AZUL) | "In addition to codeshares provided with our Star Alliance partners, Copa also has code-sharing arrangements in place with several other carriers, including Air France, KLM, Iberia, Air Europa, Emirates, Gol, Azul and Vol…" |
| Partner | GE Engine Services | "Regarding engine maintenance, Copa currently has two Rate per Engine Flight Hour Services Agreements and one "Time and Material" Service Agreement with GE Engine Services, LLC, ("GE") pursuant to which GE shall be the ex…" |

## Analyst estimates and revisions

| Period | EPS est. | 90d ago | Change | Revenue est. | Analysts |
|---|---|---|---|---|---|
| Current quarter (ends 2026-09-30) | $3.76 | $5.05 | -25.5% | $1.18B | 5 |
| Next quarter (ends 2026-12-31) | $3.38 | $5.54 | -39.0% | $1.20B | 5 |
| Current fiscal year (ends 2026-12-31) | $14.86 | $16.85 | -11.8% | $4.43B | 9 |
| Next fiscal year (ends 2027-12-31) | $18.85 | $19.89 | -5.2% | $4.80B | 9 |

## Options: expected move (Cboe, 15-min delayed)

Expected move by 2026-11-20 (includes earnings 2026-11-18): ±10.2%.

| Expiration | Days | ATM IV | Expected move |
|---|---|---|---|
| 2026-11-20 | 28 | 45.1% | ±10.2% |
| 2026-12-18 | 56 | 36.5% | ±11.6% |
| 2027-01-15 | 84 | 34.9% | ±13.4% |
| 2027-02-19 | 119 | 36.6% | ±16.6% |
| 2027-05-21 | 210 | 36.1% | ±21.6% |