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Copa HoldingsFRA:C2H -1.34%84 3-Year ROIIC % is 20.46 as of Dec. 2025, which is 19% below its 10-year median of 25.23. GuruFocus rates FRA:C2H with a GF Score™ of 84/100 and a GF Value™ of €100.82 (Modestly Overvalued). The stock has 5 warning signs investors should review. Among 938 Transportation companies, Copa Holdings ranks better than 79.85% on this metric.
3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year.
Copa Holdings's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was 20.46%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
The industry rank for Copa Holdings's 3-Year ROIIC % or its related term are showing as below:
FRA:C2H's 3-Year ROIIC % is ranked better than 79.85% of 938
companies
in the Transportation industry
Industry Median: 2.005
vs FRA:C2H: 20.46
Copa Holdings (FRA:C2H) 3-Year ROIIC % Explanation
Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.
High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.
Be Aware
It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.
Copa Holdings 3-Year ROIIC % Related Terms
Copa Holdings 3-Year ROIIC % Historical Data
* Premium members only.
The historical data trend for Copa Holdings's 3-Year ROIIC % 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.
FRA:C2H vs ALK, SKYW, ALGT: 3-Year ROIIC % Comparison
For the Airlines subindustry, Copa Holdings's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Transportation Industry
For the Transportation industry and Industrials sector, Copa Holdings's 3-Year ROIIC % distribution charts can be found below:
* The bar in red indicates where Copa Holdings's 3-Year ROIIC % falls into.
* 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.
** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.
Copa Holdings (FRA:C2H) has a 3-Year ROIIC % of 20.46 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Copa Holdings and its competitors. This is 19% below median its historical median of 25.23. According to the industry distribution chart, Copa Holdings ranks #189 out of 938 companies in the Transportation industry, placing it in the top 20.1%.
Is Copa Holdings' 3-Year ROIIC % too high?
Copa Holdings' current 3-Year ROIIC % of 20.46 is 19% below median its 10-year median of 25.23. The Transportation industry median 3-Year ROIIC % is 2.01. Copa Holdings' value of 20.46 is 920.4% above this industry median. Based on the distribution chart, Copa Holdings ranks #189 out of 938 companies in the Transportation industry, which is in the top quartile — a strong position relative to peers. Overall, Copa Holdings has a GF Score™ of 84/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Copa Holdings' 3-Year ROIIC % compare to ALK and SKYW?
According to the Transportation industry distribution chart, Copa Holdings ranks #189 out of 938 companies for 3-Year ROIIC %. This places Copa Holdings in the top 20% of its industry — outperforming the majority of peers. The industry median 3-Year ROIIC % is 2.01. Copa Holdings' value of 20.46 is 920.4% above this benchmark. While the company's 10-year median is 25.23 vs. the industry median of 2.01, Copa Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for a Transportation company?
The median 3-Year ROIIC % among Transportation companies is 2.01, based on 938 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year ROIIC % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year ROIIC % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Copa Holdings's current 3-Year ROIIC % of 20.46 is 920.4% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Copa Holdings and its competitors. For the Transportation industry, the median 3-Year ROIIC % is 2.01 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Copa Holdings's current 3-Year ROIIC % is 20.46, which is 19% below median its own 10-year median of 25.23. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Copa Holdings stock overvalued right now?
Based on GuruFocus' analysis, Copa Holdings (FRA:C2H) is currently considered Modestly Overvalued. The stock's GF Value™ is €100.82, compared to a current price of €125.50 — trading 24.5% above its estimated fair value. The current 3-Year ROIIC % is 20.46, which is 19% below median its 10-year median of 25.23 and 920.4% above the Transportation industry median of 2.01. Copa Holdings' overall GF Score™ is 84/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Copa Holdings (FRA:C2H), the current 3-Year ROIIC % is 20.46 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Copa Holdings (FRA:C2H) Overvalued in 2026?
Based on GuruFocus' analysis, Copa Holdings stock appears to be overvalued.
The current stock price of €125.50 is trading 24.5% above its estimated GF Value™ of €100.82.
GuruFocus considers Copa Holdings to be Modestly Overvalued.
Key valuation signals for FRA:C2H:
3-Year ROIIC %: 20.46 (19% below median its 10-year median of 25.23)
GF Value™: €100.82 vs. price of €125.50 (24.5% above fair value)
Industry Position: 920.4% above the Transportation median (#189 of 938)
No single metric tells the full story. See the FRA:C2H stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Copa Holdings SA is a provider of airline passenger and cargo services 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 the Caribbean. It derives the maximum revenue from North America.
84GF Score
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