10 Largest Companies In Canada By Market Capitalisation

The Toronto Stock Exchange (TSX) is Canada's largest and oldest equities trading and capital raising market. The TSX is part of TMX Group, which is a publicly traded company that operates several Canadian markets and clearinghouses for equities, cash, derivatives, fixed income and energy.[1]

The TSX dates back to 1852, when it was an association of 12 Canadian businessmen. The exchange was formally founded on 25 October 1861, when 18 stocks could be traded. In 1977 it became the world's first stock exchange to introduce computer-assisted trading. In the late 1990s it became the first exchange to introduce decimal trading (as opposed to fractions) and the largest stock exchange in North America to move to completely electronic trading.
By 2002, all of Canada's exchanges were consolidated under TMX Group.[2]

Top Canadian Companies By Market Cap

These are the 10 largest publicly traded companies in Canada by market capitalisation as of 7 November 2019, in U.S. dollar terms. Market cap is calculated by multiplying the number of the company's common shares outstanding by the market value of each share.

1. Royal Bank of Canada

The Royal Bank of Canada (RBC) is the largest bank in Canada by asset value.[3] It is also the largest Canadian company in terms of market cap, at US$118.81 billion as of 7 November 2019.[4]

Based in Toronto, the bank has more than 86,000 full- and part-time employees serving 16 million customers in Canada, the U.S. and 34 other countries. It provides personal and business banking, wealth management, insurance, and capital markets products and services.[5]

The bank was founded in 1864 as the Merchant Bank of Halifax, Nova Scotia, to serve the fishing and timber industries. It changed its name to Royal Bank of Canada in 1901.[3]

2. Toronto Dominion Bank

Toronto Dominion Bank (TD) is the second-largest bank in Canada and the second-largest company in terms of market cap, at US$105.44 billion.[4]

Also based in Toronto, TD has more than 85,000 employees worldwide serving more than 26 million customers with a full range of financial products and services. In Canada the retail bank is known as TD Canada Trust while in the U.S. it is known simply as TD Bank. Its wholesale banking unit is called TD Securities. The bank also owns a large stake in TD Ameritrade, which Charles Schwab agreed to buy in November 2019.[6]

The bank was created on 1 February 1955 through the merger of the Bank of Toronto, which was chartered in 1855, and the Dominion Bank, which dates to 1869.[6]

3. Enbridge Inc.

Enbridge, a large energy supplier and pipeline operator, is the third-largest Canadian company by market cap, which was US$74.36 billion as of 7 November 2019.[4]

Headquartered in Calgary, Alberta, Enbridge operates through three main businesses: liquids pipelines, natural gas pipelines, and utilities and power. It employs about 13,000 people, most of whom reside in Canada and the U.S.[7]

The company says it transports nearly two-thirds of Canadian crude oil to the U.S and about 20% of the natural gas consumed in the U.S. It also operates North America's third-largest natural gas utility.[7]

4. Bank of Nova Scotia

Bank of Nova Scotia, also known as Scotiabank, is Canada's third-largest bank and fourth-largest company by market cap, at US$70.68 billion.[4]

The bank was created in 1832 in Halifax, Nova Scotia, but today is based in Toronto, Canada's financial capital.[3] The company employs about 100,000 people and offers personal and commercial banking, wealth management, corporate and investment banking, and capital markets.[8]

5. Canadian National Railway Co.

Canadian National Railway Co. (CN) is the fifth-largest company in Canada, with a market cap of US$69.19 billion.[4] The company's 24,000 employees operate about 20,000 miles of track throughout Canada and mid-America, transporting more than C$250 billion worth of goods a year.[9] The company was founded in 1919 and is based in Montreal.[10]

6 .Brookfield Asset Management Inc.

With a market cap of US$59.45 billion, Brookfield Asset Management is Canada's sixth-largest company.[4]The company is a leading global alternative asset manager, with more than US$540 billion of assets under management, including real estate, infrastructure and private equity. It also manages public and private investment products and services for institutional and retail clients.[11]

7. Suncor Energy Inc.

The company is a large oil and gas exploration and refining company based in Calgary. It was founded in 1953 as Suncor Inc. and changed its name to Suncor Energy Inc. in April 1997.[12] Suncor is the seventh-largest company in Canada, with a market cap of US$49.62 billion.[4]

8. Bank of Montreal

Bank of Montreal (BMO) is Canada's fourth-largest bank and eighth-largest company overall in terms of market cap, at US$48.88 billion.[4] Based in Montreal, BMO is the country's oldest bank, founded in 1817.[3] Today, it serves more than 12 million customers in North America and globally, including personal, commercial, corporate and institutional banking.[13]

9. TransCanada Corp. (TC Energy)

Now known as TC Energy, the company changed its name from TransCanada on 3 May 2019.[14] It is the country's ninth-largest company, with a market cap of US$46.35 billion as of 7 November 2019.[4] Based in Calgary, the company was founded in 1951 and operates a network of natural gas pipelines throughout Canada, the U.S. and Mexico.[15]

10. BCE Inc.

BCE is Canada's largest communications company. It is also one of Canada's largest retailers, through its network of Bell, Virgin Mobile, Lucky Mobile and The Source stores. It is also a leading investor in Canadian content production through various media.[16]

BCE is Canada's tenth-largest company by market cap, at US$43.41 billion.[4] It was founded in 1880 and was previously known as Bell Canada Enterprises. It is based in Verdun, Quebec.[17]


Canada's main stock exchange is the Toronto Stock Exchange. The 10 largest companies that trade on the exchange include its four largest banks, three energy and pipeline companies, an international asset management company, a railroad operator and the country's largest telecommunications company.