Top 10 Companies By Market Cap In Canada

Which companies are making it big in Canada? 

Whether you are an investor looking for unique opportunities or a job seeker on the hunt for a new position, here is a quick list of the top 10 companies by market cap in Canada

1. Royal Bank Of Canada

  • Market cap: CAD$186.286B
  • Traded as: TSX: RY; NYSE: RY
  • Revenue: $48.5B (-3.30%)
  • Industry: Financial services

The Royal Bank of Canada is the largest bank by market capitalization in the country. Founded in 1864 in Halifax, Nova Scotia, today RBC serves more than 17 million clients across 30 countries. It is also one of the Canadian companies with the most employees, counting around 91,427 workers in 1,300+ branches worldwide. 

RBC provides various financial services, from personal and commercial banking to insurance and wealth management services. The bank’s corporate headquarters are in Toronto, while its head office is located in Montreal. 

In November last year, the company announced its plans to acquire HSBC Canada, the seventh-biggest bank in the country. The $13.5 billion deal which will consolidate the banking sector in the country is currently awaiting regulatory approval. 

2. Toronto Dominion Bank

  • Market cap: CAD$162.367B
  • Traded as: TSX: TD; NYSE: TD, LSE: OVL8
  • Revenue: $47.74B (35.10%)
  • Industry: Financial services

TD is among the top 10 richest companies in Canada, having a massive workforce of more than 80,000 and assets worth $1.92 trillion.  It is also one of the top publicly traded Canadian companies, listed #53 on the Forbes Global 2000 ranking

TD provides financial products and services to over 27 million customers across the globe. It is one of the biggest online financial services companies, boasting 15 million online and mobile clients and a robust investment platform, currently rated among the best stock trading apps

It operates as TD Canada Trust in Canada where it has more than 1,091 branches, while in the US it is doing business through its subsidiary TD Bank. 

3. Enbridge

  • Market cap: CAD$113.43B
  • Traded as: TSX: ENB; NYSE: ENB
  • Revenue: $52.4B(0.90%)
  • Industry: Oil & Gas Midstream

Founded in 1949 and headquartered in Calgary, Enbridge is one of the top companies in Canada by revenue ($40.63bn) and market cap. The company operates the biggest crude oil and liquid pipeline system in the US and Canada, transporting more than 32 billion barrels of crude oil in the last decade alone.

Enbridge has been responsible for several spills over the years and has faced numerous protests against some of its biggest projects, such as the Stop Line 3 protests and the Dakota Access Pipeline Protests. This has prompted the company to adopt more eco-friendly policies, investing in numerous renewable energy projects across North America and Europe as well as setting a goal of net-zero emissions by 2050.   

4. Canadian National Railways

  • Market cap: CAD$111.867B
  • Traded as: TSX: CNR
  • Revenue: $16.32B(25.70%)
  • Industry: Railroads

The Canadian National Railway Company is a Class I freight railway, founded in 1919 and headquartered in Montreal. 

CN is the biggest railway in the country—it covers 32,831 km of track from the Atlantic to the Pacific coast, as well as serving US midwestern and southern states. It is also the largest railway in terms of revenue, generating CAD$14.5 billion in 2021. 

CN was privatized in 1995 and today has 22,600 employees. The company’s main portfolio of goods ranges from coal, petroleum and chemicals to grain and fertilizers, forest and automotive products. CN serves exporters, importers, as well as manufacturers, farmers and retailers. It also offers transportation management and automotive logistics services.

5. Canadian Pacific Railway

  • Market cap: CAD$98.63B
  • Traded as: TSX: CP; NYSE: CP
  • Revenue: $8.39B(19.10%)
  • Industry: Railroads

Incorporated in 1881 and headquartered in Calgary, the CPR operates one of the biggest transcontinental freight railways in Canada and the US. 

Mainly a freight railway, it transports grain, metals, automotive and forest products, as well as retail goods in overseas containers. The CPR has a huge network of around 20,100 kilometres stretching across seven provinces in Canada and the USA. It currently has 13,087 full-time workers on its payroll. 

The CPR acquired two American lines (DM&E and IC&E) back in 2009, while in 2022 it announced its plan to buy the Kansas City Southern Railway. If the deal is approved by the US Surface Transportation Board, the CPR will become the first and only railroad catering to the three biggest countries in North America. 

6. Bank of Montreal

  • Market cap: CAD$93.039B
  • Traded as: TSX: BMO; NYSE: BMO
  • Revenue: $33.38B(54.80%)
  • Industry: Financial services

Founded back in 1817, the Bank of Montreal has been in business for 200 years.

Not only is it the oldest of the Canadian Big Five banks, but it also has the longest dividend payment historythe bank has not missed a payment since 1892 and has continued to pay out shareholders even during the two World Wars, the Great Depression and the 2008 recession. In addition to extensive wealth management and corporate banking services, BMO also provides users with one of the best cashback credit cards

As of 2022, BMO has over 46,700 employees and serves 8+ million customers in Canada and the US. BMO recently got the approval of the Federal Reserve to acquire San Francisco-based Bank of the West for US$16.3 billion, which will make the bank the 15th biggest lender in the United States.

7. Canadian Natural Resources

  • Market cap: CAD$89.371B
  • Traded as: TSX: CNQ
  • Revenue: $41.82B (35.60%)
  • Industry: Oil & Gas E&P

This Calgary-based oil and gas giant is one of the oldest energy companies in the country. Founded in 1973, CNRL mainly operates in the Western Canadian provinces of Manitoba, Alberta, Saskatchewan and BC, as well as the UK and offshore Africa. 

It is currently the largest producer of heavy crude oil in the country, as well as the biggest independent natural gas producer in Western Canada. It also owns the biggest undeveloped base in the Western Canadian Sedimentary Basin and has a 50% stake in the 84-megawatt cogen plant at Primrose. 

The company’s total assets are valued at $76,665 million, while it generated $30.06B in revenue in 2021, securing its place among the top 10 richest companies in Canada. It employs 9,700+ people. 

8. Scotiabank

  • Market cap: CAD$82.432B
  • Traded as: TSX: BNS; NYSE: BNS
  • Revenue: $29.8B (-8.60%)
  • Industry: Financial services 

The Bank of Nova Scotia, also known as Scotiabank, is the 4th biggest bank in the country by market cap and deposits. Dubbed Canada’s most international bank, Scotiabank operates in Central and Latin America, the Caribbean and Asia in addition to running 941 branches across the Great White North.

Its services include personal and commercial banking, wealth management, as well as corporate and investment banking. Scotiabank also provides online and mobile banking services as well as capital markets access services to corporate customers. 

The bank has a team of 90,979 and assets worth more than $1.3 trillion (according to an October 2022 report). 

The bank is set to see a change in management by the end of the month when newly-elected Scott Thompson will take over the bank as President and CEO. 

9. Thomson Reuters

  • Market cap: CAD$75.677B
  • Traded as: TSX: TRI; NYSE: TRI
  • Revenue: $6.57B (3.10%)
  • Industry: Business Services

The Thomson Reuters Corporation was formed in 2008 after the merger between the Thomson Corporation, one of the biggest information companies globally, and Reuters, the world-famous British multinational media and financial information organization. 

Today the Thomson Reuters Corporation has 24,400 employees. It operates in three industries—news and media, tax and accounting and legal and provides various services such as technology, human expertise and intelligence to its clients. 

Their operations span the globe, including the Americas, the Middle East, Africa, Asia Pacific and Europe. The company is headquartered in Toronto and is owned by the Woodbridge Company, a private holding company that serves as the primary investment vehicle for members of the Thomson family, one of the richest in Canada

10. Shopify

  • Market cap: CAD$69.337B
  • Traded as: TSX: SHOP; NYSE: SHOP
  • Revenue: $5.24B (21.60%)
  • Industry: Software (application)

Shopify is a Canadian-based multinational e-commerce company. Headquartered in Ottawa, it was founded in 2006 by Tobias Lütke and Scott Lake. 

Shopify is also the name of the company’s cloud-based, multi-channel commerce platform which provides online retailers with numerous services and tools, from marketing and customer engagement to payment, marketing and shipping. 

The latest Shopify stats show that the company currently has 10,000 employees and a net income of USD$2.91 billion. It is reported that 1.58 million websites run on the platform (or around 4.4% of the top 10 million sites in the world), while its gross merchandise volume stands at USD$47 billion.  As of 2021, Shopify has over 1,700,000 businesses using the platform in around 175 countries.


What is the number 1 company in Canada?

The biggest company in Canada by market cap is the Royal Bank of Canada. In terms of revenue, though, it is Brookfield Asset Management, the largest alternative investment management company across the globe. BAM generates revenue of $75.73 billion and has a market cap of $13.19 billion, data from Companies Market Cap indicates. 

Which company hires the most people in Canada?

With a total of 215,298 employees, George Weston tops the list of Canadian companies with the most employees. The food processing and distribution company has a market cap of $18.68 Billion and is the 914th most valuable company in the world.

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