CPACopa Holdings, S.A.
Is it safe?
Nothing alarming, nothing pristine: comfortable debt (A) and typical volatility.
Investment-grade balance sheet. A rule of thumb on leverage, not a credit rating.
Moderate price swings, typical volatility. Worst drawdown -79% · now 14% below its 52-week high.
Where this answer is blind. Altman sits structurally low for utilities and pipelines; Beneish runs high for fast growers, since sales growth alone lifts it; banks and REITs are excluded.
Can CPA take a bad year?
Copa Holdings, S.A. carries $1.59B of net debt at 1.34× EBITDA: a load its earnings can carry.
Net debt · as at FY2025 · under two and a half years of EBITDA, comfortable
- Net debt / EBITDA
- 1.34×
Net debt / EBITDA · 0.97× a year ago · the load is going up
- Interest cover
- 45.2×
Interest cover · operating profit covers the interest bill several times over
- Annualised volatility
- 37%
Annualised volatility · roughly twice as jumpy as the market
Details›
- Total debtFY2025
- $1.98B
- Cash and short-term investments
- $388M
- Net debt
- $1.59B
- EBITDA, trailing twelve months
- $1.18B
- Operating profit, trailing twelve months
- $819M
- Debt / equity
- 0.71×
- Total debt / EBITDA
- 1.67×
- Annualised volatilitytwo years of daily moves
- 37%
- Worst drawdown on file
- −79%
- Below its 52-week high
- 14%
Balance sheet from SEC filings; drawdown and volatility from end-of-day closes; Altman Z from the filed statements.