Top 15 Famous Largest Multinational Companies in Canada
Table of Content
The blog looks at the 10 Famous Largest Multinational Companies in Canada based on market capitalization, a parameter measuring a company’s financial strength.
Bear in mind that this list can change due to fluctuations in the stock market.
This article is in follow up to our other largest companies across the globe article:
- Largest Companies in Australia
- Largest Companies in Singapore
- Largest Companies in Germany
- Largest Companies in Japan
Let’s get rolling!
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Canada has a small population of 37 million, yet it is considered one of the wealthiest countries globally due to its high GDP.
The Government’s latest economic forecast predicts a surplus of $12.3 billion for the fiscal year 2022-2023.
There is a 4.8% economic growth rate in 2022, which is also expected to grow by 2.7% in 2023. (Source: StatCan)
The Bank of Canada predicts that Canada will lead the G7 nations in annual employment growth by 2025, primarily due to its high-growth industrial sector. (Source: Yahoo Finance)
Canada has about 1.3 million businesses with active employees, most of them located in Ontario, with about 480,000 locations.
Ontario is followed by Quebec and British Colombia, with 270,000 and 200,000 businesses registered.
It is common to see most of the largest Canadian companies operating in the United States and listed on both stock exchanges.
Canada’s stock exchange is the 8th largest in the world.
You would be surprised to know that It is more significant than most European countries with over 1,500 companies.
The market capitalization of these companies stands at not less than $3 trillion.
Shopify
Market Capitalization: $171.16 Billion
Number of Employees: 5000
Year of Inception: 2006
Company CEO: Tobias Lütke
Industry: E-commerce
Shopify Inc. is a multinational e-commerce company headquartered in Ottawa, Ontario, Canada started by the Famous Canadian Entrepreneur Tobias Lütke.
The platform is famous for providing online retailers with different services such as marketing, payments, shipping, and tools for customer engagement.
In 2020, due to the Coronavirus pandemic, Shopify declared that it was going fully remote. And that its more than 5000 employees will be working from home. (Source: Ottawa Business Journal)
Shopify claims to have over 1,700,000 businesses in 175 countries using its platform as of May 2021.
It houses not less than 1.58 million websites as of 2021. (Source: Wikipedia)
In June 2021, the company acquired Primer, an AR app that enables users to preview home improvement items digitally. (Source: Tech Crunch)
As of December 2021, Shopify has a market capitalization of $171.16 billion and at the moment, there are 1.26B shares of Shopify (SHOP).
With this, Shopify currently occupies the 76th position as the most valuable company in the world. (Source: Companies Market Cap)
“Shopify has defied all odds and has helped online retailers make huge returns. As a result, it comfortably sits proudly as one of the e-commerce giants in the world.”
Royal Bank of Canada
Market Capitalization: $145.11 Billion
Number of Employees: 86,000
Year of Inception: 1864
Company CEO: David McKay
Industry: Banking
Royal Bank of Canada is a multinational financial services company in Canada. It is the largest bank in the nation and serves more than 16 million clients. It also has more than 86,000 employees worldwide.
The bank is headquartered in Toronto, with a head office in Montreal.
Royal Bank of Canada operates its personal and commercial banking in Canada as RBC Royal Bank for English-speaking countries but is known as RBC Banque Royale in French.
As of today, the bank’s network branches stand at 1,209. (Source: Wikipedia)
Previously, the bank operated as RBC Bank in the US and was in charge of 439 branches in 6 states of the southeastern US.
However, the bank no longer offers cross-border banking services except for Canadian ex-pats and travelers. RBC also operates 127 branches in 17 countries in the Caribbean.
Its clientele base equally stands at 16 million. (Source: Wikipedia)
Royal Bank of Canada runs a capital market known as RBC Capital Market, its corporate banking and investment subsidiary. It also has an investment brokerage firm referred to as RBC Dominion Securities.
Royal Bank of Canada, as of December 2021, has a market capitalization of $141.11 billion. This figure puts the company in the 90th position as the world’s most valuable company. (Source: Companies Market Cap)
“Royal Bank of Canada was the first bank to introduce contactless payment acceptance point-of-sale devices to its merchants in the Caribbean in 2018.”
Toronto-Dominion Bank
Market Capitalization: $134.45 Billion
Number of Employees: 89,000
Year of Inception: 1955
Company CEO: Bharat Masrani
Industry: Banking
Toronto-Dominion Bank is another Canadian bank that made it to the list of the largest Canadian companies. It is a financial service and multinational banking corporation with headquarters in Toronto, Ontario.
The bank was formed in 1955 after merging The Dominion Bank and Bank of Toronto.
According to Standard and Poor Global, Toronto-Dominion Bank was the largest bank in Canada at some point in 2021. It was also in North America’s top-10 banks and the 23rd largest bank globally. (Source: S & P Global)
The bank has more than 26 million clients all over the world. But in Canada, it has 11 million customers with more than 1,091 branches and operates as TD Canada Trust.
Then in the US, Toronto-Dominion Bank operates as TD Bank after merging two banks; Commerce Bank and TD Banknorth. Its customer base in the US is 6.5 million, with more than 1200 branches in the District of Columbia and 16 other states. (Source: Wikipedia)
As of December 2021, Toronto-Dominion Bank has a market capitalization of $134.42 billion. The bank makes it to the list of most valuable companies at 99th position with this figure. (Source: Companies Market Cap)
“Toronto-Dominion Bank prides itself in providing favorable conditions for anyone to thrive in an ever-changing world.”
Brookfield Asset Management
Market Capitalization: $91.04 Billion
Number of Employees: 150,000
Year of Inception: 1899
Company CEO: Bruce Flatt
Industry: Investment
Brookfield Asset Management is a Canadian corporation that offers alternative investment services.
Its primary focus is on real estate, providing direct control investment. Others are infrastructure, renewable power, and private and credit equity.
Brookfield Asset Management invests in distressed securities through its Oaktree Capital company (bought in 2019).
The company has its headquarters in Toronto. It then has corporate offices in London, New York City, Dubai, Mumbai, São Paulo, Shanghai, and Sydney. (Source: Wikipedia)
As of December 2021, Brookfield Asset Management has a market capitalization of $91.54 billion. This data puts the company in the 169th position of the world’s most valuable companies. (Source: Companies Market Cap)
“Brookfield has more than 100 years history of operating and owning assets worth over $175 billion globally.”
Canadian National Railway Company
Market Capitalization: $84.00 Billion
Number of Employees: 24,000
Year of Inception: 1919
Company CEO: Jean-Jacques Ruest
Industry: Railway
The first railway company to make it on our list of largest Canadian companies is the Canadian National Railway Company.
Also referred to as CN, the Canadian National Railway Company is a Canadian Class I freight Railway Company with headquarters in Montreal, Quebec – from where it serves Canada, Southern United States, and the Midwestern.
The Canadian National Railway Company ranks as the largest railway company in its network of rails and revenue.
It spans across Canada, starting from the Atlantic coast in Nova Scotia. It then links to the British Columbia Pacific coast across 20,400 route miles of track.
In the late 20th century, CN attained extensive capacity in the US and even overtook some railroads in Illinois Central. (Source: Wikipedia)
Initially, the Canadian National Railway Company was a government-owned corporation. It was later privatized in 1995.
As of 2019, the largest shareholder of the company is Bill Gates. He owned 10.04% interest through Bill and Melinda Gates Foundation and Cascade Investment. (Source: CBC News)
Canadian National Railway Company, as of December 2021, has a market capitalization of $84.52 billion. This puts the company on the list of the world’s most valuable companies at 186th position. (Source: Companies Market Cap)
“Canadian National Railway Company operates 20 intermodal terminals. It transfers freight between train and truck as well as 80 distribution and warehousing facilities.”
Scotiabank
Market Capitalization: $82.92 Billion
Number of Employees: 92,001
Year of Inception: 1832
Company CEO: Brian J. Porter
Industry: Banking
The Bank of Nova Scotia, which operates as Scotiabank, is another Canadian financial services and multinational banking company headquartered in Toronto, Ontario.
Scotiabank is the 3rd largest Canadian bank and one of the Big Five banks in Canada both by market cap and deposit. It offers its services to over 25 million customers worldwide.
Scotiabank’s products and services include wealth management, personal and commercial banking, investment, and corporate banking. (Source: Wikipedia)
The bank is self-acclaimed as “Canada’s most international bank” because of its acquisitions in the Caribbean and Latin America, and parts of Asia and Europe.
Scotiabank is also one of the 15 accredited institutions that partake in London’s gold fixing and belongs to the London Bullion Market Association.
With a market capitalization of $82.95 billion as of December 2021, Scotiabank occupies the 189th position on the list of the world’s most valuable companies. (Source: Companies Market Cap)
“Scotiabank is guided by its purpose which is to help its customers and their relations, as well as communities, attain success through their various innovative range of products and services.”
Enbridge
Market Capitalization: $76.76 Billion
Number of Employees: 11,000
Year of Inception: 1949
Company CEO: Al Monaco
Industry: Oil and Gas
Enbridge is a multinational pipeline company with headquarters in Calgary, Alberta, Canada. The company has over time acquired many other existing pipeline companies, which it uses to expand its growth and projects.
The company operates pipelines not just in Canada but also in the US. It transports natural gas, crude oil, and natural gas liquids.
Enbridge has the most comprehensive expansive pipeline system in North America. Its 38,300-kilometer natural gas system pipeline links multiple Canadian provinces and various states in the US and Gulf of Mexico (offshore). (Source: Wikipedia)
To help save the environment, Enbridge has built various renewable projects in Europe and North America. Others include waste heat recovery facilities, power transmission, geothermal projects, solar and wind assets, and hydroelectric facilities. (Source: Environment Energy Leader)
As of December 2021, Enbridge has a market capitalization of $76.77 billion. This puts its 210th position in the world’s most valuable company. (Source: Companies Market Cap)
“Enbridge is known to operate the world’s most complex and longest liquids and crude oil transportation system. This moves about 65% of all the US-bound Canadian exports.”
Bank of Montreal
Market Capitalization: $66.83 Billion
Number of Employees: 43863
Year of Inception: 1817
Company CEO: Darryl White
Industry: Banking
The Bank of Montreal is multinational financial services and investment bank in Canada.
It has its executive offices and operational headquarters in Toronto, Ontario, but still maintains a head office in Montreal.
The Bank of Montreal is one of the ten largest banks in North America.
According to its market cap, it is also the 4th largest bank in Canada. As of October 2021, the Bank of Montreal’s assets is CAD 634 billion. (Source: Wikipedia)
Also referred to as BMO, the Bank of Montreal in 2021 made known its plans to attain a zero-net global target emission in lending by 2050. The bank signed a contract with a climate institute charged with understanding and managing financial opportunities related to the low-carbon transition. (Source: BMO)
The Bank of Montreal, as of December 2021, has a market capitalization of $66.97 billion. With this figure, the bank is part of the world’s most valuable company and sits at the 253rd position. (Source: Companies Market Cap)
“The Bank of Montreal has since its inception been helping its customers navigate challenges, pursue opportunities and attain great things.”
Canadian Pacific Railway
Market Capitalization: $66.17 Billion
Number of Employees: 11,904
Year of Inception: 1881
Company CEO: Keith Creel
Industry: Railway
Canadian Pacific Railway, also referred to as CP Rail, is a Canadian historic Class I Railway Company.
It owns and operates 20,100 kilometers of track in the US and seven provinces of Canada. Its link stretches from Montreal to Vancouver and deep into Edmonton.
The company’s rail network also serves Detroit, Minneapolis-St. Paul, Chicago, New York, and Albany in the US. (Source: ACWR)
Mainly operating as a freight railway company, Canadian Pacific Railway was once the only means of transporting passengers on long-distance travels in many regions of Canada. Its passenger services were removed in 1986.
The company also played vital roles in the development and settlement of Western Canada. (Source: Wikipedia)
The company trades on the New York Stock Exchange and Toronto Stock Exchange. It has its US headquarters in Minneapolis.
As of December 2021, Canadian Pacific Railway has a market capitalization of $66.83 billion. That puts the company in the 255th position as the most valuable company in the world. (Source: Companies Market Cap)
“Canadian Pacific Railway has an important aim to physically connect Canadians and Canada from coast to coast. The railway construction in Canada is considered one of the country’s highest achievements in engineering.”
Thomson Reuters
Market Capitalization: $56.35 Billion
Number of Employees: 24,400
Year of Inception: 2008
Company CEO: Steve Hasker
Industry: Media
Thomson Reuters is a Canadian-American multinational mass media conglomerate. It has its headquarters situated at Bay Adelaide Centre.
The company came about after the Thomson Corporation bought the Reuters Group British company in 2008.
The Woodbridge Company is now the prominent owner and serves as a holding company on behalf of the Thomson family.
Thomson Reuters in 2008 operated a dual-listed company structure with two parent companies – Thomas Reuters plc and Thomas Reuters Corporation.
It then unified its dual-listed company in 2009 and stopped listing on NASDAQ and London Stock Exchange. Since then, it has limited its listing to only Toronto Stock Exchange and New York Exchange. (Source: Wikipedia)
As of December 2021, Thomson Reuters has a market capitalization of $56.66 billion. This makes it the 320th most valuable company in the world. (Source: Companies Market Cap)
“Thomson Reuters is regarded as the world’s leading source of information and news that is very helpful for people in the professional markets. They provide the expertise, technology, and intelligence that lead to valuable solutions.”
Alimentation Couche-Tard Inc.
Market Capitalization: 64.67 billion CAD
Number of Employees: 122,000
Year of Inception: 1980
Company CEO: Brian P. Hannasch
Industry: Retail
Alimentation Couche-Tard Inc. is a Quebec-based company that operates convenience stores worldwide.
It offers various products, including tobacco, groceries, snacks, fresh foods, and beverages.
The company operates under several brand names, including Circle K, Couche-Tard, Holiday, Ingo, and Mac’s banners.
Currently, Alimentation Couche-Tard Inc. has a vast network of over 12,328 stores globally, including both licensed and company-operated branches. (Source: Yahoo Finance)
Alimentation Couche-Tard Inc. is committed to providing its customers with a diverse range of products, value, and convenience.
With its extensive network of stores and commitment to innovation, the company is well-positioned to continue its growth and expand its global reach.
Canadian Imperial Bank of Commerce
Market Capitalization: 57.15 billion CAD
Number of Employees: 45,282
Year of Inception: 1961
Company CEO: Victor G. Dodig
Industry: Banking
Canadian Imperial Bank of Commerce is a financial services provider that operates through four strategic business units: Canadian Personal and Business Banking, Canadian Commercial Banking and Wealth Management, U.S. Commercial Banking and Wealth Management, and Capital Markets.
Established in 1867, the Canadian Imperial Bank of Commerce reported revenue of $15.44 billion in the year ending 2020. (Source: Yahoo Finance)
Along with the Bank of Montreal, The Bank of Nova Scotia, The Toronto-Dominion Bank, and the Royal Bank of Canada, the Canadian Imperial Bank of Commerce is one of the most significant contributors to the finance sector of the Canadian market.
With over 40,000 employees, CIBC provides financial services to a vast customer base of over eleven million clients. The company’s reputation and success have earned it a place on the Forbes Global 2000 listing, ranking at 172. (Source: Wikipedia)
The Canadian Personal and Business Banking unit offers various banking and financial services, including chequing and savings accounts, credit cards, loans, and mortgages, to individuals and businesses in Canada.
The Canadian Commercial Banking and Wealth Management unit provides customised financial solutions, investment advice, and other financial services to corporate and institutional clients in Canada.
The U.S. Commercial Banking and Wealth Management unit of the Canadian Imperial Bank of Commerce offers commercial banking, real estate financing, and treasury solutions to clients in the United States.
Lululemon Athletica Inc.
Market Capitalization: 40.43 billion USD
Number of Employees: 29,000
Year of Inception: 1998
Company CEO: Calvin McDonald
Industry: Clothing
Lululemon Athletica Inc. is a sportswear company headquartered in Vancouver, Canada.
It has 521 stores in several countries, including the US, Canada, China, Australia, Ireland, the UK, Japan, and Germany.
Lululemon Athletica Inc. has two main operational segments: Company-Operated Stores and Direct-to-Consumers.
The Company-Operated Stores segment operates physical stores, while the Direct-to-Consumer part offers products through e-commerce websites and mobile apps.
In 2020, Lululemon Athletica Inc. generated a revenue of $4.06 billion. (Source: Yahoo Finance)
The company is known for its high-quality athletic wear and accessories for yoga, running, training, and other fitness activities.
Lululemon Athletica Inc. promotes a healthy and active lifestyle, and its products are popular among fitness enthusiasts worldwide.
T.C. Energy Corporation
Market Capitalization: 65.28 billion CAD
Number of Employees: 7,000
Year of Inception: 1951
Company CEO: François Poirier
Industry: Oil and Gas
T.C. Energy Corporation is a well-established Calgary-based energy company specialising in oil and gas.
The company has a strong presence in the market and operates a massive pipeline network that stretches over 93,400 kilometers.
The pipeline network is primarily dedicated to transporting natural gas across North America, and the company owns and operates LNG terminals and power generation plants.
In the fiscal year 2020, T.C. Energy Corporation generated an impressive revenue of $9.62 billion, indicating its strength and stability in the industry. (Source: Yahoo Finance)
T.C. Energy Corporation is one of the largest energy companies in Canada, alongside Enbridge Inc.
Together, these two companies play a critical role in ensuring the energy needs of Canada and North America are met efficiently and reliably.
George Weston Limited
Market Capitalization: 23.45 billion CAD
Number of Employees: 1,40,800
Year of Inception: 1882
Company CEO: Calvin McDonald
Industry: Food distribution
George Weston Limited, a publicly traded Canadian company established in 1882, operates through three main segments. (Source: Firms World)
One of the operating segments is Loblaw Companies Limited, Canada’s biggest food and drug retailer, providing financial services.
The second segment is Choice Properties Real Estate Investment Trust, Canada’s most significant and diversified REIT.
The third segment is Weston Foods, a leading North American producer of high-quality baked goods.
George Weston and its operating segments employ over 200,000 people, making it one of Canada’s largest private-sector employers. (Source: Firms World)
Conclusion
In terms of ease of doing business, Canada ranks 23rd out of a total of 190 countries across the globe.
In North America, Canada ranks 2nd after the United States. (Source: Statista)
No wonder Canada performs very well in trading across borders, starting a business, and paying taxes. It undoubtedly provides one of the best environments for business in the world
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