Copa Holdings (Copa Holdings) EBIT

: $774 Mil (TTM As of Dec. 2023)

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Copa Holdings's earnings before interest and taxes (EBIT) for the three months ended in Dec. 2023 was $236 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Dec. 2023 was $774 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. Copa Holdings's annualized ROC % for the quarter that ended in Dec. 2023 was 15.80%. Copa Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 27.44%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. Copa Holdings's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Dec. 2023 was 15.16%.

Copa Holdings EBIT Historical Data

The historical data trend for Copa Holdings's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Copa Holdings Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

EBIT

345.57

-566.51

128.38

473.97

773.86

Copa Holdings Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
EBIT																134.43	166.56	73.80	297.48	236.02

Competitive Comparison

For the Airlines subindustry, Copa Holdings's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Copa Holdings EV-to-EBIT Distribution

For the Transportation industry and Industrials sector, Copa Holdings's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where Copa Holdings's EV-to-EBIT falls into.

Copa Holdings EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $774 Mil.

Copa Holdings (NYSE:CPA) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

Copa Holdings's annualized ROC % for the quarter that ended in Dec. 2023 is calculated as:

	ROC % (Q: Dec. 2023 )
=	NOPAT	/	Average Invested Capital
=	Operating Income * ( 1 - Tax Rate % )	/	( (Invested Capital (Q: Sep. 2023 )	+	Invested Capital (Q: Dec. 2023 ))	/ count )
=	875.508 * ( 1 - 11.05% )	/	( (4840.518	+	5018.961)	/ 2 )
=	778.764366	/	4929.7395
=	15.80 %

where

	Invested Capital		(Q: Sep. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	5023.354	-	239.611	-	( 991.677	-	max(0, 1398.799	-	1342.024	+	991.677	))
=	4840.518

	Invested Capital		(Q: Dec. 2023 )
=	Total Assets	-	Accounts Payable & Accrued Expense	-	Excess Cash
=	Total Assets	-	Accounts Payable & Accrued Expense	-	( Cash, Cash Equivalents, Marketable Securities	-	max(0, Total Current Liabilities	-	Total Current Assets	+	Cash, Cash Equivalents, Marketable Securities	))
=	5197.27	-	254.697	-	( 915.184	-	max(0, 1344.351	-	1267.963	+	915.184	))
=	5018.961

Note: The Operating Income data used here is four times the quarterly (Dec. 2023) data.

2. Joel Greenblatt's definition of Return on Capital:

Copa Holdings's annualized ROC (Joel Greenblatt) % for the quarter that ended in Dec. 2023 is calculated as:

	ROC (Joel Greenblatt) %		(Q: Dec. 2023 )
=	EBIT	/	Average of (Net fixed Assets	+	Net Working Capital)
=	EBIT	/	Average of (Property, Plant and Equipment	+	Net Working Capital)
			Q: Sep. 2023		Q: Dec. 2023
=	EBIT	/	( ( (Property, Plant and Equipment + Net Working Capital)	+	(Property, Plant and Equipment + Net Working Capital) )	/	count )
=	944.076	/	( ( (3361.098 + max(-719.287, 0))	+	(3520.224 + max(-700.838, 0)) )	/	2 )
=	944.076	/	( ( 3361.098	+	3520.224 )	/	2 )
=	944.076	/	3440.661
=	27.44 %

where Working Capital is:

	Working Capital		(Q: Sep. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(171.802	+	108.546	+	69.999)	-	(239.611	+	779.978	+	50.045)
=	-719.287

	Working Capital		(Q: Dec. 2023 )
=	(Accounts Receivable	+	Total Inventories	+	Other Current Assets)	-	(Accounts Payable & Accrued Expense	+	Defer. Rev.	+	Other Current Liabilities)
=	(159.247	+	116.604	+	76.928)	-	(254.697	+	732.577	+	66.343)
=	-700.838

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Dec. 2023) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

Copa Holdings's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %	=	EBIT (TTM)	/	Enterprise Value (Q: Dec. 2023 )
	=	773.858	/	5104.614
	=	15.16 %

Copa Holdings EBIT Related Terms

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Copa Holdings (Copa Holdings) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Industrials » Transportation » Copa Holdings SA (NYSE:CPA) » Definitions » EBIT

Comparable Companies

Traded in Other Exchanges

CPAN:Mexico C2H:Germany C2H:Germany

Address

Costa del Este, Complejo Business Park, Avenida Principal y Avenida de la Rotonda, Torre Norte Parque Lefevre, Panama, PAN

Website

https://www.copaair.com

Copa Holdings SA is a provider of airline passenger and cargo service through its subsidiaries. The company operates through the air transportation segment. It offers international air transportation for passengers, cargo, and mail, operating from its Panama City hub in the Republic of Panama and domestic and international air transportation for passengers, cargo and mail with a point-to-point route network through Copa Colombia a Colombian air carrier. The company's geographical segments are North America, South America, Central America, and Caribbean. It derives a majority of revenue from South America.