Maybe it seems disingenuous to ask if Copa Holdings (NYSE: CPA), which has a market capitalization of $4.4 billion and trades at just 13 times forward earnings, is overvalued, given that the S&P MidCap 400 Index currently sits at a forward PE ratio of 15.3. But if we place Copa's current market pricing in the context of the larger airline industry, the question gains some relevance:
CPA PE Ratio (Forward) data by YCharts.
Source Fool.com