Top 10 Largest Companies In Canada Based on Revenue And Employees
Top 10 Biggest Companies In Canada
Contents

Canada is home to some of the world's largest and most technologically advanced corporations. Each of these companies has its own distinct history, systems, and modes of operation that have helped them achieve their current positions. Learning about these companies can help you identify their work values and the opportunities they provide.

Canada's GDP grew steadily throughout 2023, with no decline or recovery following the COVID years. Let’s learn which company is making big in Canada.

Top 10 Biggest Companies In Canada By Revenue

1. Cenovus Energy

Revenue: US$52.5 billion

Cenovus has a smaller workforce than most of the other companies on the list, with around 6,000 employees, but it is a heavyweight in the energy sector.

While the company has traditionally been concerned with the production and marketing of crude oil and natural gas, Cenovus has stated its commitment to developing assets in a "safe, innovative, and cost-efficient manner," with environmental, social, and governance (ESG) issues in mind.

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2. Alimentation Couche-Tard

Revenue: US$51.9bn

The Quebec-based company now has a global presence, with over 16,000 stores in countries such as the United States, Mexico, China, and Japan.

The Couche-Tard brand has a strong presence in European countries, particularly in Scandinavia and the Baltics, thanks to its network of gas stations and convenience stores.

3. Great-West Lifeco

Revenue: US$48bn

Great-West Lifeco is a global financial services holding company with operations in life insurance, health insurance, retirement and investment services, asset management, and reinsurance.

Canada Life, Empower, Putnam Investments, and Irish Life are the brands under which the company operates in North America and Europe.

4. Suncor

Revenue: US$46.4bn

Suncor Energy, another Calgary-based energy company, is involved in offshore oil and gas development, production, and upgrading, as well as petroleum refining.

Suncor also operates the Petro-Canada retail network, which now includes a slew of fast-charging EV charging stations.

5. Imperial Oil

Revenue: US$42.5bn

Imperial Oil, the third of the top five energy companies headquartered in Calgary, remains one of Canada's largest corporations.

The Imperial Oil Company was founded in 1880 by 16 oil refiners in Ontario, when Canada was only 13 years old. It is still growing, innovating, and adapting to an ever-changing environment.

6. Royal Bank of Canada (RBC)

Revenue: US$42bn

With over 88,000 employees, Royal Bank of Canada is not only one of the largest financial institutions in Canada, but also in the world.

RBC has a 150-year history and now holds a strong market position in five business segments, serving 17 million clients worldwide.

7. Loblaw Companies

Revenue: US$42bn

Loblaw's mission is to help Canadians 'Live Life Well,' which it accomplishes through its network of grocery stores and pharmacies.

The company takes pride in making good food affordable to its millions of customers, as well as making health, beauty, and wellness accessible to them.

8. George Weston Ltd

Revenue: US$41.2bn

George Weston, founded in 1882, is the parent company of both Loblaw Companies and Choice Properties, a leading Real Estate Investment Trust.

The organization is named after its founder, a young Toronto bread salesman who started his own business after purchasing a bread route from his employer. Weston's Bread was well-known throughout the city by the turn of the century, and George Weston was Canada's largest baker.

9. Enbridge

Revenue: US$39.4bn

Enbridge is eager to emphasize its commitment to operating in a sustainable manner.

As a diversified energy provider, the company believes it is uniquely positioned to aid in the global transition to a cleaner energy future by advancing low-carbon energy technologies such as carbon capture and storage.

10. Power Corporation of Canada

Revenue: US$35.9bn

Power Corporation of Canada is a multinational management and holding company with operations in North America, Europe, and Asia.

Leading insurance, retirement, wealth management, and investment businesses are among the core functions.

Top 10 Biggest Companies In Canada By Market Cap

Ranking

Company

Market Cap (USD)

Sector

Industry

1

Royal Bank of Canada

$136.81 B

Financials

Banks—Diversified

2

Toronto-Dominion Bank

$119.48 B

Financials

Banks—Diversified

3

Shopify Inc.

$79.57 B

Technology

Software—Application

4

Canadian National Railway Company

$76.50 B

Industrials

Railroads

5

Enbridge Inc.

$74.47 B

Energy

Oil & Gas Midstream

6

Canadian Pacific Railway Limited

$73.67 B

Industrials

Railroads

7

Bank of Montreal

$64.98 B

Financials

Banks—Diversified

8

Canadian Natural Resources Limited

$62.14 B

Energy

Oil & Gas E&P

9

Thomson Reuters Corporation

$58.79 B

Industrials

Consulting Services

10

Bank of Nova Scotia

$58.09 B

Financials

Banks—Diversified

Which company in Canada is the biggest by market cap?

The Royal Bank of Canada has the most market value of any bank in the country. A Canadian bank called RBC was founded in 1864 in Halifax. It now has more than 17 million customers in 30 countries. It also has one of the largest employee bases of any Canadian company, with more than 91,427 people working in more than 1,300 locations around the world.

RBC offers a wide range of financial services, such as personal and business banking, insurance, and wealth management. The corporate headquarters of the bank are in Toronto, and the head office is in Montreal.

The company said in November of last year that it was going to buy HSBC Canada, which is the seventh-largest bank in the country. The $13.5 billion deal that will bring together the country's banks is currently waiting for approval from the government.

Top 10 Biggest Companies In Canada By Number of Employees

1. Magna International Inc.

Size: More than 10,000 employees

Industry: Transportation, equipment, and manufacturing

2. TD Bank

Size: More than 10,000 employees

Industry: Finance

3. Enbridge

Size: More than 10,000 employees

Industry: Energy, mining, and utilities

4. Canadian National Railway

Size: More than 10,000 employees

Industry: Transportation and logistics

5. Scotiabank

Size: More than 10,000 employees

Industry: Finance

6. Brookfield Asset Management

Size: More than 10,000 employees

Industry: Real estate

7. BMO Financial Group

Size: More than 10,000 employees

Industry: Finance

8. Canadian Pacific

Size: More than 10,000 employees

Industry: Transportation and logistics

9. Canadian Natural

Size: More than 10,000 employees

Industry: Energy, mining, and utilities

10. Shopify

Size: More than 10,000 employees

Industry: Information technology

Conclusion

Canada's business landscape is thriving, with numerous companies making significant contributions to the country's economy.

In conclusion, Royal Bank of Canada, Shopify, Bank of Montreal are big names in the Canadian market as they contirbute to high percentage of market cap and revenue.

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