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2874 companies · fiscal year 2025 · SEC EDGAR · September 25, 2026

Companies in Canada with the most long-term debt

Long-term debt is borrowing due more than a year out. A large figure is normal for capital-intensive businesses and says nothing on its own about financial health. Figures are for fiscal year 2025 and are read directly from each company's SEC filings; the source column on every row links to the document.

Ranks 1–76 of 76 · Fiscal year 2025 · Data as of September 25, 2026

Enbridge (ENB) tops the list with $76.3B in long-term debt for fiscal 2025, ahead of Rogers Communications ($26.2B) and Bce ($25.5B). The top 10 together report $248B in long-term debt; the gap between #1 and #10 is ×5.66. 76 companies in Canada report long-term debt, 3.4% of the 2263-filer universe. The last place on the list, Dirtt Environmental Solutions, comes in at $220,000.

Long-term debt
#CompanyLong-term debtYoY15-year trend
1EnbridgeENBCAEnergy$76.3B+7.8%
2Rogers CommunicationsRCICACommunication services$26.2B−1.3%
3BceBCECACommunication services$25.5B+11.7%
4FortisFTSCAUtilities$22.4B+3.4%
5Bausch Health CompaniesBHCCAHealthcare$20.6B+8.7%
6TelusTUCACommunication services$20.0B+12.6%
7Canadian National RailwayCNICAIndustrials$15.5B+6.7%
8Canadian Pacific Kansas CityCPCAIndustrials$14.6B+5.9%
9BrookfieldBNCAReal estate$13.8B+2.5%
10EmeraEMACAUtilities$13.5B+6.7%
11Hydro OneHRNNFCAUtilities$13.2B+16.4%
12Canadian Natural ResourcesCNQCAEnergy$11.8B+3.5%
13NutrienNTRCAMaterials$9.4B+5.3%
14Waste ConnectionsWCNCAUtilities$8.8B+9.1%
15Pembina PipelinePBACAEnergy$8.1B+10.4%
16Cenovus EnergyCVECAEnergy$8.1B+57.9%
17Suncor EnergySUCAEnergy$6.6B+1.3%
18Open TextOTEXCATechnology$6.3B−0.2%
19Algonquin Power & UtilitiesAQNCAUtilities$6.2B−0.6%
20Canadian SolarCSIQCATechnology$6.0B+30.5%
21Bausch & LombBLCOCAHealthcare$5.0B+5.8%
22Magna InternationalMGACAConsumer discretionary$4.7B+13.3%
23Barrick MiningBCAMaterials$4.6B−1.2%
24Manulife FinancialMFCCAFinancials$4.6B+0.6%
25Gildan ActivewearGILCAConsumer discretionary$3.9B+212.6%
26TC EnergyTRPCAUtilities$2.8B+40.0%
27MethanexMEOHCAMaterials$2.7B+12.9%
28Teck ResourcesTECKCAMaterials$2.6B−10.4%
29Imperial OilIMOCAEnergy$2.5B+5.1%
30TransaltaTACCAUtilities$2.5B+11.0%
31Tfi InternationalTFIICAIndustrials$2.4B+2.0%
32RB GlobalRBACATechnology$2.3B−12.9%
33Lionsgate StudiosLIONCACommunication services$1.8B—
34BRPDOOCAIndustrials$1.7B−12.4%
35Colliers InternationalCIGICAReal estate$1.6B+8.3%
36Mercer InternationalMERCCAMaterials$1.6B+8.9%
37Equinox GoldEQXCAMaterials$1.4B+13.3%
38Thomson ReutersTRICACommunication services$1.3B−28.1%
39Eldorado GoldEGOCAMaterials$1.2B+34.0%
40StantecSTNCAIndustrials$1.1B+32.8%
41FirstserviceFSVCAReal estate$1.1B−15.0%
42Vermilion EnergyVETCAEnergy$908M+35.6%
43TelesatTSATCACommunication services$842M−60.9%
44CelesticaCLSCATechnology$751M−2.6%
45Kinross GoldKGCCAMaterials$738M−40.3%
46CamecoCCJCAMaterials$728M+5.2%
47Pan American SilverPAASCAMaterials$709M+1.0%
48Gran Tierra EnergyGTECAEnergy$675M−3.8%
49IamgoldIAGCAMaterials$649M−36.9%
50EnerflexEFXTCAIndustrials$582M−17.8%
51Ero CopperEROCAMaterials$551M−0.9%
52North American ConstructionNOACAEnergy$548M+9.5%
53Hudbay MineralsHBMCAMaterials$537M−51.6%
54Trekor MetalsTGBCAMaterials$520M−2.2%
55Precision DrillingPDSCAEnergy$496M−12.1%
56Aris MiningARISCAMaterials$466M−5.7%
57Boyd Group ServicesBGSICAConsumer discretionary$352M−29.4%
58West Fraser TimberWFGCAIndustrials$300M+$300M
59First Majestic SilverAGCAMaterials$292M+39.8%
60TerrascendTSNDFCAConsumer staples$225M+10.2%
61Alamos GoldAGICAMaterials$200M−20.0%
62Agnico Eagle MinesAEMCAMaterials$196M−81.4%
63BlackberryBBCATechnology$196M—
64Ianthus CapitalITHUFCAConsumer staples$194M+6.4%
65TucowsTCXCATechnology$190M−2.6%
66Canopy GrowthCGCCAHealthcare$164M−46.1%
67Obsidian EnergyOBECAEnergy$131M−43.1%
68McewenMUXCAMaterials$126M+215.4%
69Galiano GoldGAUCAMaterials$119M−21.3%
70Franco NevadaFNVCAMaterials$80.0M−61.5%
71Greenfire ResourcesGFRCAEnergy$55.9M−77.7%
72Descartes SystemsDSGXCATechnology$25.5M−31.2%
73SNDLSNDLCAHealthcare$23.6M—
74Endeavour SilverEXKCAMaterials$3.9M−96.6%
75ImaxIMAXCAConsumer discretionary$2.5M−99.2%
76Dirtt Environmental SolutionsDRTTFCATechnology$220,000−99.0%

All figures from SEC filings · FY2025 · 76

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{{cite web |title=Companies in Canada with the most long-term debt |url=https://companiesranked.com/en/companies-with-the-most-debt-in-canada |website=CompaniesRanked |date=2026-09-25 |language=en}}

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@misc{companiesranked-en-companies-with-the-most-debt-in-canada-2026,
  author       = {{CompaniesRanked}},
  title        = {{Companies in Canada with the most long-term debt}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/companies-with-the-most-debt-in-canada}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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