Copa Holdings, S.A. (CPA) quarterly cash flow statement — complete operating, investing & financing history
| Metric | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 | Q4'21 | Q3'21 | Q2'21 |
|---|
| Cash from Operations | 359.71M | 372.3M | 267.19M | 278.81M | 205.48M | 337.46M | 188.62M | 269.78M | 201M | 280.2M | 344.42M | 216.75M | 203.42M | 215.07M | 215.64M | 158.5M | 169.34M | 244.03M | 113.58M | 150.56M |
| Operating CF Margin % | 34.18% | 38.67% | 29.26% | 33.09% | 22.85% | 38.41% | 22.07% | 32.92% | 22.5% | 30.7% | 39.69% | 26.79% | 23.46% | 24.15% | 26.64% | 22.86% | 29.63% | 42.44% | 25.52% | 49.48% |
| Operating CF Growth % | 75.06% | 10.33% | 41.66% | 3.35% | 2.23% | 20.43% | -45.24% | 24.46% | -1.19% | 30.28% | 59.72% | 36.75% | 20.13% | -11.87% | 89.85% | 5.27% | 19083.86% | 202.86% | 708.5% | 192.38% |
| Net Income | 0 | 172.62M | 173.35M | 148.91M | 176.77M | 166.18M | 146.03M | 120.25M | 176.07M | 191.78M | 187.38M | 17.51M | 121.52M | 88.28M | 115.94M | 124.08M | 19.76M | 43.84M | 8.24M | 28.07M |
| Depreciation & Amortization | 0 | 97.39M | 93.03M | 88.44M | 86.28M | 85.08M | -162.83M | 79.46M | 83.36M | 79.81M | 78.36M | 74.82M | 72.68M | 70.25M | 68.81M | 65.34M | 63.3M | 239.95M | 55.7M | -59.45M |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 | 5.48M | 0 | 0 | 0 | 4.36M | 0 | 0 | 0 | 5.16M | 0 | 0 | 0 | 7.1M | 0 | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 10.51M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -23.75M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Cash Items | 359.71M | 102.3M | 815K | 41.46M | -57.57M | 92.76M | 205.42M | 70.06M | -58.43M | 21.9M | 78.68M | 124.42M | 9.22M | 151.78M | 30.89M | -30.92M | 86.27M | -5.87M | 49.64M | 181.94M |
| Working Capital Changes | 0 | 0 | 0 | 0 | 0 | -22.55M | 0 | 0 | 0 | -17.66M | 0 | 0 | 0 | -76.65M | 0 | 0 | 0 | -40.98M | 0 | 0 |
| Change in Receivables | 0 | 0 | 0 | 0 | 0 | -15.46M | 0 | 0 | 0 | -27.56M | 0 | 0 | 0 | -51.65M | 0 | 0 | 0 | -36.05M | 0 | 0 |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Change in Payables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Cash from Investing | -359.49M | -299.17M | -286.01M | -215.25M | -518.05M | -20.57M | -63.88M | -180.36M | -78.33M | -268.83M | 19.03M | -230.32M | -62.87M | -164.82M | -124.59M | -142.23M | -120.52M | -318.29M | -21.07M | -33.08M |
| Capital Expenditures | -408.51M | -134.41M | -353.7M | -390.5M | 0 | 0 | 0 | 0 | 0 | -800.17M | 0 | 0 | 0 | -632.23M | 0 | 0 | 0 | 0 | 0 | 0 |
| CapEx % of Revenue | 38.82% | 13.96% | 38.73% | 46.34% | - | 71.27% | - | - | - | 87.66% | - | - | - | 70.99% | - | - | - | 42.44% | - | - |
| Acquisitions | 0 | -42.28M | 16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | -5.47M | 0 | 0 | 175.26M | -518.05M | -20.57M | -63.88M | -180.36M | -78.33M | 531.35M | 19.03M | -230.32M | -62.87M | 467.41M | -124.59M | -142.23M | -120.52M | -318.29M | -21.07M | -33.08M |
| Cash from Financing | -8.55M | 60.59M | 31.47M | 7.79M | -135.92M | 48.3M | -50.13M | -59.31M | -158.51M | -18.06M | -408.43M | 53.12M | -20.66M | -105.22M | -26.43M | -131.16M | -10.89M | 39.78M | -59.05M | -54.52M |
| Debt Issued (Net) | 107.03M | 142.66M | 97.88M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | -45M | 1K | 0 | -8.71M | 0 | -87.31M | 0 | 0 | 0 | -105.93M | 0 | 0 | 0 | -167.64M | 0 | 0 | 0 | 0 | 0 | 0 |
| Dividends Paid | -70.58M | -66.42M | -66.41M | -133.03M | 0 | -269.14M | 0 | 0 | 0 | -134.15M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -45M | 1K | 0 | -8.71M | 0 | -87.31M | 0 | 0 | 0 | -105.93M | 0 | 0 | 0 | -167.64M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -15.65M | 0 | 149.52M | -135.92M | 404.75M | -50.13M | -59.31M | -158.51M | 222.02M | -408.43M | 53.12M | -20.66M | 62.42M | -26.43M | -131.16M | -10.89M | 39.78M | -59.05M | -54.52M |
| Net Change in Cash | -8.33M | 133.73M | 12.65M | 71.35M | -448.49M | 338.07M | 74.61M | 30.11M | -35.85M | -30.5M | -44.98M | 39.55M | 119.89M | -76.32M | 64.62M | -114.89M | 37.93M | -79.15M | 33.47M | 62.96M |
| Free Cash Flow | -54.36M | 352.5M | -78.02M | -111.7M | 205.48M | -288.7M | 188.62M | 269.78M | 201M | -519.98M | 344.42M | 216.75M | 203.42M | -417.16M | 215.64M | 158.5M | 169.34M | 0 | 113.58M | 150.56M |
| FCF Margin % | -5.17% | 36.61% | -8.54% | -13.26% | 22.85% | -32.86% | 22.07% | 32.92% | 22.5% | -56.96% | 39.69% | 26.79% | 23.46% | -46.84% | 26.64% | 22.86% | 29.63% | - | 25.52% | 49.48% |
| FCF Growth % | -126.46% | 222.1% | -141.37% | -141.4% | 2.23% | 44.48% | -45.24% | 24.46% | -1.19% | -24.65% | 59.72% | 36.75% | 20.13% | - | 89.85% | 5.27% | 19083.86% | - | 708.5% | 192.38% |
| FCF per Share | -1.32 | 8.54 | -1.90 | -2.71 | 4.98 | -6.92 | 4.52 | 6.47 | 4.78 | -12.93 | 8.67 | 5.39 | 5.06 | -10.55 | 5.45 | 3.85 | 4.03 | - | 2.66 | 3.53 |
| FCF Conversion (FCF/Net Income) | 1.69x | 2.16x | 1.54x | 1.87x | 1.16x | 2.04x | 1.29x | 2.24x | 1.14x | 1.49x | 1.84x | 12.38x | 1.67x | 2.44x | 1.86x | 1.28x | 8.57x | 2.06x | 13.78x | 5.36x |
| Interest Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Taxes Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |