10 Biggest Canadian Companies by Market Cap 2024

Royal Bank of Canada

Canada is often perceived as a quieter and even less exciting neighbour of the USA. 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 on an upswing.

Canada’s GDP steadily grew throughout 2022 showing no decline and recovery after the COVID years. The financial sector remains strong in the country and is reflected in the list of the biggest Canadian companies as of the start of 2023. Canadian authorities are making efforts to upgrade the gambling system and its legal framework for it to be more competitive compared to the gambling options of other countries.


#1 Royal Bank of Canada

As of January 2023, the Royal Bank of Canada has a market cap of $139.22 bn which makes the bank the 86th most valuable company in the world by market capitalization. The market cap is the total market value of a publicly traded company’s outstanding shares, it measures how much a company is worth. The Royal Bank of Canada is trusted internationally, and even though its primary focus is Canada, the bank has not shunned adopting new technologies.

Royal Bank of Canada logo

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 as a way of wealth management.

#2 Toronto Dominion Bank

toronto dominion bank logo

According to the latest findings, as of January 2023, Toronto Dominion Bank has a market cap of $120.65 bn, which makes Toronto Dominion Bank the world’s 111th most valuable company by market capitalization.

TD strives to be the better bank aiming to give its customers, communities and colleagues the confidence to thrive in a rapidly changing world.

The bank has been honoured and recognized by some top organizations and publications across the areas in which the bank works.

Toronto Dominion Bank facts:

canadian top employers emblem 2021year
  • Canada’ Top 100 Employers.
top employers for young emblem 2020year
  • TD was recognized by the National Organization on Disability (NOD) as a 2020 Leading Disability Employer for the 4th year in a row.

#3 Enbridge

enbridge company building

As of January 2023, Enbridge has a market capitalization of $84.54 bn which makes Enbridge the world’s 166th most valuable company by market capitalization according to recent research data.

Enbridge Inc. is a multinational pipeline and energy company with its headquarters in Calgary, Alberta. Enbridge owns and operates pipelines throughout Canada and the USA, transporting crude oil, natural gas liquids and natural gas.

The company’s awards and recognitions

  • Named to Bloomberg’s Gender Equality Index four years in a row, most recently in 2022
  • Ranked among Canada’s Best Diversity Employers eight times, most recently in 2022
  • Named to Canada’s Top 100 Employers list 20 times, through 2023.

#4 Canadian National Railway

Canadian Train on Railway

As of January 2023, Canadian National Railway (CNR) has a market capitalization of $83.74 bn making CNR the world’s 170th most valuable company by market capitalization according to the most recent statistical data.

Unlike most national railway companies, the country has ensured 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.

#5 Canadian Pacific Railway (CP)

Canadian Pacific train

As of January 2023, Canadian Pacific Railway has a market cap of $74.16 bn making CP the world’s 193rd most valuable company by market cap according to the most recent data available.

CP is always innovating to move the rail industry forward. CP represents a leading the rail industry in innovation, with technologies that help us deliver better service and a safer, more sustainable railway for our employees, customers, and the communities.

According to the Canadian Pacific Railway official website, the company is at the forefront of predictive analytics for locomotives, railcars and track infrastructure, practicing leading-edge work and patented technologies in the analytics space.

#6 Bank of Montreal

As of January 2023, the Bank of Montreal has a market cap of $69.78 bn which makes the Bank of Montreal the world’s 206th most valuable company by market cap according to our data. The Bank of Montreal is the not surprising six-place holder. The Bank of Montreal has been inching upwards in the overall list of the biggest Canadian companies.

Montreal’s premier bank is 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.

#7 Canadian Natural Resources

Canadian Natural Resources company logo on natural background

As of January 2023, Canadian Natural Resources has a market cap of $67.17 bn making CN the world’s 220th most valuable company by market capitalization.

The company is an efficient operator holding a diversified portfolio of assets in North America, the UK. portion of the North Sea and Offshore Africa. The company is continually striving for safe, efficient and environmentally responsible operations, while achieving the economic development of its diverse asset base.

The financial discipline, commitment to a strong balance sheet, and capacity to generate adjusted funds account for the company’s growth in the long term, even in challenging economic environments.

#8 Scotiabank (BNS)

As of January 2023, Scotiabank has a market cap of $61.64 bn, making Scotiabank the world’s 253rd most valuable company by market capitalization.

The bank has remained largely immutable in Canada’s largest public companies’ overall standing. This financial institution enjoys the trust and respect of its customers. It remains one of the leaders of the financial sector in Canada.

If Canadians or foreign investors are looking for a good stock to buy, Scotiabank is always a good idea to start considering.

#9 Thomson Reuters

As of January 2023, Thomson Reuters has a market capitalization of $56.28 bn which makes Thomson Reuters the world’s 284th most valuable company by market capitalization.

Thomson Reuters provides individual professionals and businesses with the human expertise, intelligence, technology they require.

Thomson Reuters company logo

Thomson Reuters is one of the world’s most trusted providers of answers, helping businesses to make confident decisions and run their affairs better. The company’s customers operate in complex arenas that move society forward — law, government, tax, compliance, and media.

The company’s shares are listed on the Toronto Stock Exchange and New York Stock Exchange.

#10 Shopify

shopify logo

As of January 2023, Shopify has a market capitalization of $56.02 bn, making Shopify the world’s 286th most valuable company by market capitalization according to recent data.

Shopify powers millions of businesses worldwide. It is an all-in-one commerce platform to start, run, and grow your business.

Over a decade ago, started as a store to sell snowboards online has become today a very important platform for businesses of all sizes using Shopify, whether they’re selling online, in retail stores, or on the go.

Shopify delivers:

  • Award-winning support
  • Sustainability fund and social impact initiatives
  • Great career opportunities