Ratios

		vs industry	vs history
P/E(ttm)	17.40	CPA's P/E(ttm) is ranked higher than 50% of the 32 Companies in the Global Airlines industry. ( Industry Median: 14.10 vs. CPA: 17.40 )	CPA' s 10-Year P/E(ttm) Range Min: 4.69   Max: 23.85 Current: 17.4 4.69 23.85
P/B	4.31	CPA's P/B is ranked lower than 69% of the 32 Companies in the Global Airlines industry. ( Industry Median: 1.67 vs. CPA: 4.31 )	CPA' s 10-Year P/B Range Min: 1.33   Max: 7.46 Current: 4.31 1.33 7.46
P/S	2.56	CPA's P/S is ranked lower than 97% of the 32 Companies in the Global Airlines industry. ( Industry Median: 0.40 vs. CPA: 2.56 )	CPA' s 10-Year P/S Range Min: 0.58   Max: 3.31 Current: 2.56 0.58 3.31
PFCF	36.25	CPA's PFCF is ranked lower than 69% of the 32 Companies in the Global Airlines industry. ( Industry Median: 12.30 vs. CPA: 36.25 )	CPA' s 10-Year PFCF Range Min: 16.35   Max: 36.25 Current: 36.25 16.35 36.25
EV-to-EBIT	15.11	CPA's EV-to-EBIT is ranked higher than 50% of the 32 Companies in the Global Airlines industry. ( Industry Median: 8.60 vs. CPA: 15.11 )	CPA' s 10-Year EV-to-EBIT Range Min: 4.7   Max: 46.8 Current: 15.11 4.7 46.8
PEG	1.01	CPA's PEG is ranked lower than 100% of the Companies in the Global Airlines industry. ( Industry Median: vs. CPA: 1.01 )	CPA' s 10-Year PEG Range Min: 0.12   Max: 0.29 Current: 1.01 0.12 0.29
Shiller P/E	23.89	CPA's Shiller P/E is ranked higher than 50% of the 32 Companies in the Global Airlines industry. ( Industry Median: 9.75 vs. CPA: 23.89 )	CPA' s 10-Year Shiller P/E Range Min: 13.48   Max: 21.17 Current: 23.89 13.48 21.17

Dividend & Buy Back

		vs industry	vs history
Dividend Yield	1.66	CPA's Dividend Yield is ranked higher than 84% of the 32 Companies in the Global Airlines industry. ( Industry Median: 1.86 vs. CPA: 1.66 )	CPA' s 10-Year Dividend Yield Range Min: 0.29   Max: 4.53 Current: 1.66 0.29 4.53
Dividend Payout	0.5	CPA's Dividend Payout is ranked higher than 69% of the 32 Companies in the Global Airlines industry. ( Industry Median: 0.65 vs. CPA: 0.5 )	CPA' s 10-Year Dividend Payout Range Min: 0.06   Max: 0.24 Current: 0.5 0.06 0.24
Dividend growth (3y)	45.1	CPA's Dividend growth (3y) is ranked higher than 97% of the 32 Companies in the Global Airlines industry. ( Industry Median: -49.20 vs. CPA: 45.1 )	CPA' s 10-Year Dividend growth (3y) Range Min: 0   Max: 45.1 Current: 45.1 0 45.1
Yield on cost (5-Year)	39.62	CPA's Yield on cost (5-Year) is ranked higher than 97% of the 32 Companies in the Global Airlines industry. ( Industry Median: 1.95 vs. CPA: 39.62 )	CPA' s 10-Year Yield on cost (5-Year) Range Min: 7.18   Max: 112.17 Current: 39.62 7.18 112.17
Share Buyback Rate	-0.6	CPA's Share Buyback Rate is ranked higher than 75% of the 32 Companies in the Global Airlines industry. ( Industry Median: -2.10 vs. CPA: -0.6 )	CPA' s 10-Year Share Buyback Rate Range Min: 0.1   Max: -0.6 Current: -0.6

Valuation & Return

		vs industry	vs history
Price/Net Current Asset Value	58.6	CPA's Price/Net Current Asset Value is ranked higher than 84% of the 32 Companies in the Global Airlines industry. ( Industry Median: 8.15 vs. CPA: 58.6 )	CPA' s 10-Year Price/Net Current Asset Value Range Min: 25.5   Max: 57.5 Current: 58.6 25.5 57.5
Price/Tangible Book	4.6	CPA's Price/Tangible Book is ranked higher than 87% of the 32 Companies in the Global Airlines industry. ( Industry Median: 1.50 vs. CPA: 4.6 )	CPA' s 10-Year Price/Tangible Book Range Min: 2   Max: 5.7 Current: 4.6 2 5.7
Price/Median PS Value	2.1	CPA's Price/Median PS Value is ranked higher than 94% of the 32 Companies in the Global Airlines industry. ( Industry Median: 0.80 vs. CPA: 2.1 )	CPA' s 10-Year Price/Median PS Value Range Min: 0.4   Max: 1.1 Current: 2.1 0.4 1.1
Price/Peter Lynch Fair Value	1.6	CPA's Price/Peter Lynch Fair Value is ranked higher than 84% of the 32 Companies in the Global Airlines industry. ( Industry Median: 0.75 vs. CPA: 1.6 )	CPA' s 10-Year Price/Peter Lynch Fair Value Range Min: 0.7   Max: 0.7 Current: 1.6
Price/Graham Number	2.1	CPA's Price/Graham Number is ranked higher than 75% of the 32 Companies in the Global Airlines industry. ( Industry Median: 0.70 vs. CPA: 2.1 )	CPA' s 10-Year Price/Graham Number Range Min: 0.9   Max: 2 Current: 2.1 0.9 2
Earnings Yield (Greenblatt)	6.60	CPA's Earnings Yield (Greenblatt) is ranked higher than 59% of the 32 Companies in the Global Airlines industry. ( Industry Median: 10.75 vs. CPA: 6.60 )	CPA' s 10-Year Earnings Yield (Greenblatt) Range Min: 2.1   Max: 21.4 Current: 6.6 2.1 21.4
Forward Rate of Return (Yacktman)	45.75	CPA's Forward Rate of Return (Yacktman) is ranked higher than 75% of the 32 Companies in the Global Airlines industry. ( Industry Median: 13.69 vs. CPA: 45.75 )	CPA' s 10-Year Forward Rate of Return (Yacktman) Range Min: 54.3   Max: 107.5 Current: 45.75 54.3 107.5

Business Description

Copa Holdings SA Cl A was formed on May 6, 1998 as a corporation duly incorporated under the laws of Panama with an indefinite duration. Copa Holdings was organized to be a holding Company for Copa and related Companies in connection with the acquisition by Continental of its 49% interest in the Company at that time. During the second quarter of 2005, the Company purchased AeroRepublica, a Colombian air carrier that was the domestic carrier in Colombia in terms of number of passengers carried in 2005, providing predominantly point-to-point service among 12 cities in Colombia and to Copa's Panama City hub. Copa Holdings is a Latin American provider of airline passenger and cargo service through its two principal operating subsidiaries, Copa and AeroRepublica. Copa operates from its strategically located position in the Republic of Panama, and AeroRepublica provides service primarily within Colombia. Its fleet currently consists of 22 Boeing 737-Next Generation aircraft, two Embraer 190 aircraft, 11 MD-80 aircraft and two DC-9 aircraft. The Company currently has firm orders for eight Boeing 737-Next Generation and 18 Embraer 190s, and purchase rights and options for up to nine additional Boeing 737-Next Generation and 35 additional Embraer 190s. Copa was established in 1947 and currently offers approximately 92 daily scheduled flights among 30 destinations in 20 countries in North, Central and South America and the Caribbean from its Panama City hub. Copa provides passengers with access to flights to more than 120 other destinations through codeshare arrangements with Continental which each airline places its name and flight designation code on the other's flights. Through its Panama City hub, Copa is able to consolidate passenger traffic from multiple points to serve each destination effectively. The Company operates a modern fleet of 22 Boeing 737-Next Generation aircraft and two Embraer 190 aircraft with an average age of approximately 3.6 years as of May 31, 2006. In Latin America, the scheduled passenger service market consists of three principal groups of travelers: strictly leisure, business and travelers visiting friends and family. Leisure passengers and passengers visiting friends and family typically place a higher emphasis on lower fares, whereas business passengers typically place a higher emphasis on flight frequency, on-time performance, breadth of network and service enhancements, including loyalty programs and airport lounges. Approximately 75% of sales during 2004 were through travel agents and other airlines while approximately 25% were direct sales via the Company's CTOs, its call centers, its airport counters or its website. Copa has a sales and marketing network consisting of 78 domestic and international ticket offices, including airport and city ticket offices. Copa has 17 CTOs co-branded with Continental. During the year ended December 31, 2005, approximately 21% and 4% of its sales were booked through its
Company Website

Industry:	Airlines
Compare:	RYAAY, LFL, ALNPY, LUV, CPCAY
Traded in other countries:	CPA.Portugal, C2H.Germany

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