Canada is often perceived as the quieter and even less exciting neighbor 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 this is reflected in the list of the biggest Canadian companies.
#1 Royal Bank of Canada
The Royal Bank of Canada has progressed from the third spot in 2017 to 1st place in 2019 as the country’s largest company in terms of net worth. The company’s total assets as of 2018 reached CA$1.27 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 shunned from 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 the overall standing of Canada’s largest public companies. With total assets worth C$998.5 billion, this financial institution continues to enjoy the trust and respect of its customers and 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 C$36.1 billion in 2017, an impressive overall financial feat. There have been controversies surrounding the bank’s targets in 2017, but that has been largely put behind the institution, although at a price.
In 2017, employees came forward admitting to cooking the books in order 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.
#4 Bank of Montreal
The Bank of Montreal is the not surprising four-place holder. They have managed to accumulate the massive CAD$21.787 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 analysts of the housing market, calming the qualms investors and buyers have these days.
#5 Online Casino Companies
As gambling has taken off in some provinces of Canada, 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 CAD$29.68 billion in revenue in 2018 and it has continued expanding across multiple verticals.
To market its products, Suncor uses a retail market provided by Shell and ExxonMobil, 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 countries, 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 the form of 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 2017, the company had CA$13.041 billion in revenue – 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 completely dominate the market. It posted $3.031 billion in 2016 in terms of net income, one of the highest to date.
The company is also the parent entity of two of the largest media companies in Canada, 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.
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 300,000 barrels a day in 2018.
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 is owning a number of respected medias inside Canada but they do keep a very low overall profile.
This concludes our list of the biggest Canadian companies as of 2019. The figures are constantly shifting, so it’s likely that we will see these companies end up outpacing one another very quickly, with quite a few others entering the list as well.