Top 10 Largest Companies In Canada Based on Revenue & Number of Employees

Top 10 Largest Companies In Canada Based on Revenue & Number of Employees

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.

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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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.

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.

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.

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.

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.

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.

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.

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.

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.

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

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.

Size: More than 10,000 employees

Industry: Transportation, equipment, and manufacturing

Size: More than 10,000 employees

Industry: Finance

Size: More than 10,000 employees

Industry: Energy, mining, and utilities

Size: More than 10,000 employees

Industry: Transportation and logistics

Size: More than 10,000 employees

Industry: Finance

Size: More than 10,000 employees

Industry: Real estate

Size: More than 10,000 employees

Industry: Finance

Size: More than 10,000 employees

Industry: Transportation and logistics

Size: More than 10,000 employees

Industry: Energy, mining, and utilities

Size: More than 10,000 employees

Industry: Information technology

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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