Canada is often perceived as the quieter and even less exciting neighbour of the US. This couldn’t be farther from the mark. Canadians do love their privacy, but they also excel in many areas, without necessarily making a big deal out of their achievements. If the biggest Canadian companies are any indication, we can justly say that the country’s economy is in an upswing.
There have been a few qualms about Alberta’s tar sands, and Prime Minister Justin Trudeau has found himself surrounded in controversy, but Canada’s GDP has seemed immutable. The financial sector remains strong in the country, and it reflected in the list of the biggest Canadian companies in 2022. You can also look to the top 10 gambling companies since the Canadian gambling market flourishes and grows bigger from year to year. Canadian authorities are making efforts to upgrade the gambling system. So, it will be more competitive compared to the gambling options of other countries.
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#1 Royal Bank of Canada
The Royal Bank of Canada has progressed from the third spot in 2017 to 1st place in 2019 as it’s largest company in terms of net worth. The company’s total assets as of 2020 reached CA$1.62 trillion, a respectable amount for any financial behemoth. The Royal Bank of Canada is trusted internationally, and even though its primary focus is Canada, the bank has not been shunned adopting new technologies.
The RBC has looked into promising technologies such as blockchain and cryptocurrencies, listing various portfolios and assets in recent years geared towards customers who prefer to explore this new way of managing finances.
#2 Bank of Nova Scotia
The Bank of Nova Scotia has remained largely immutable in Canada’s largest public companies’ overall standing. With total assets worth CA$845.4 billion, this financial institution continues to enjoy the trust and respect of its customers. It remains one of the leaders of the financial sector in Canada.
The BNS is also one of the companies in Canada that attract the highest investment interest with their stock being traded often, and therefore, a lot of Buy/Sell analyses available online. If Canadians or foreign investors are looking for a good stock to buy, the BNS is always a good idea to start looking.
#3 Toronto-Dominion Bank
Toronto-Dominion Bank was recently paired with Nova Scotia as the second-largest public company. The company had CA$39.93 billion in Q3 in 2020 (see Macrotrends report), an impressive overall financial feat. There have been controversies surrounding the bank’s targets in 2017, but that was largely put behind the institution, although at a price.
In 2017, employees came forward admitting to cooking the books to make it look like the bank has achieved better sales over the period. This was occasioned by mismanagement and pursuit of bigger profits and juicier stakes for investors. However, the discrepancies in reported figures and net worth was quickly caught, and the issue was addressed swiftly.
Toronto-Dominion Bank facts:
- In 2020 it counted 90,000 employees all around the world.
- Total assets of Toronto-Dominion Bank were CA$1.7 trillion. (TD)
#4 Bank of Montreal
The Bank of Montreal is the not surprising four-place holder. They have managed to accumulate the massive CA$25.68 billion. Not a bad financial performance altogether. The Bank of Montreal has been inching upwards in the overall list of the biggest Canadian companies.
Montreal’s premier bank remains dwarfed by Nova Scotia and the Royal Bank, but it is still a preferred choice for many Canadians. The bank has also registered a significant uptick in its operations in the United States, where growth has been significant. BMO Chief Darryl White has also been one of the most reliable housing market analysts, calming the qualms investors and buyers have these days.
#5 Online Casino Companies
As gambling has taken off in some Canadian provinces, the industry is expected to spread even further across the country. The top 5 casino companies currently serving Canadian customers include brands such as:
- The Grand Ivy
- Casumo, and others.
The combined net worth easily matches the majority of financial, oil and tech giants in the country. There have been more tentative efforts to introduce casinos and gambling companies at a larger scale in Canada in the past few years.
#6 Suncor Energy
Suncor Energy was founded as early as 1919, but the company’s name has been aptly picked to reflect the current shift towards sustainable energy sources. The company focuses on synthetic crude from oil sands. The company amassed CA$38.3 billion in revenue in 2019 (see Statista), and it has continued expanding across multiple verticals.
Suncor uses a retail market provided by Shell and ExxonMobil to market its products, which puts it far from the now stronger global push for renewables.
#7 Canadian National Railway
It is surprising that the Canadian National Railway can be one of the most profitable companies in the country, but Canadians knew how to take care of their infrastructure. Unlike most national railway companies, the country has made sure that its trains bring home the bacon in employment opportunities and profits for shareholders who are ever more eager to modernize the railways. This, of course, helps regular Canadians enjoy even greater benefits both in terms of business and their private lives.
Exports and domestic routes have been perfected. New technologies have been introduced all in pursuit of boosting the economy. As of 2019, the company had CA$10,163 billion in revenue (Nine months ended September 30) – a substantial financial performance.
#8 BCE Inc.
It makes sense that after finances and energy companies, telecoms will be equally popular. BCE Inc. is a publicly-traded telecommunications company with a wide remit of activities. Founded only in 1983, BCE Inc. has grown to dominate the market completely. It posted $23,964 million in revenue in 2019, one of the highest to date.
The company is also the parent entity of two of Canada’s largest media companies, including Bell Media and Bell Canada. The subsidiaries hold around 10 TV stations, which remain some of the country’s most-watched ones.
In terms of corporation revenue and capitalization, BCE Inc. remains one of the biggest Canadian companies.
#9 Husky Energy
Husky Energy is easily one of the biggest Canadian companies, but its activities expand well beyond the country’s borders. The company operates in the United States, the Asia Pacific Region and their company is owned by Hong Kong billionaire Li Ka-Shing. In Q2 in 2020, Husky Energy reported CA$18 millions of revenue.
The company continues to conduct the bulk of its activities in the country, with the overseas projects increasing at a significant pace. The company owns refineries where it produced nearly 290,000 barrels a day in 2019.
Husky Energy remains focused on crude oil and tested and proven sources of energy, much like the majority of Canadian integrated energy companies. The push for renewables is still under the radar.
#10 The Woodbridge Company Limited
You must have certainly heard of The Woodbridge Company Limited. A private holding company in Canada, they are the current owners of one of the world’s largest analyst companies – Thomson Reuters, which they acquired in 2008.
The Woodbridge Company Limited owns a number of respected media inside Canada but they keep a very low overall profile.
Facts about The Woodbridge Company Limited:
- It counts 55,000 total employees across Canada.
- The Woodbridge Company generates CA$20.10 billion every year. (Dun&Bradstreet)
This concludes our list of the biggest Canadian companies as of 2020. The figures are constantly shifting, so we likely see these companies end up outpacing one another very quickly, with quite a few others entering the list as well.