CompaniesRanked

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

Largest companies in Canada by shareholders' equity

Shareholders' equity is what remains after subtracting liabilities from assets — the accounting book value of the company, not its market value. 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 1–94 of 94 · Fiscal year 2025 · Data as of September 25, 2026

Brookfield (BN) tops the list with $166B in shareholders' equity for fiscal 2025, ahead of Royal Bank of Canada ($102B) and Toronto Dominion Bank ($91.7B). The top 10 together report $683B in shareholders' equity; the gap between #1 and #10 is ×5.04. 94 companies in Canada report shareholders' equity, 3.6% of the 2599-filer universe. The last place on the list, Dirtt Environmental Solutions, comes in at $28.5M.

Shareholders' equity
#CompanyShareholders' equityYoY15-year trend
1BrookfieldBNCAReal estate$166B+0.5%
2Royal Bank of CanadaRYCAFinancials$102B+10.3%
3Toronto Dominion BankTDCAFinancials$91.7B+10.9%
4Bank of Nova ScotiaBNSCAFinancials$64.0B+8.5%
5Bank of MontrealBMOCAFinancials$62.6B+2.9%
6Canadian Imperial Bank of CommerceCMCAFinancials$47.7B+11.9%
7EnbridgeENBCAEnergy$45.5B−0.6%
8Manulife FinancialMFCCAFinancials$36.6B+3.3%
9Canadian Pacific Kansas CityCPCAIndustrials$33.5B+0.7%
10Suncor EnergySUCAEnergy$33.0B+6.5%
11Canadian Natural ResourcesCNQCAEnergy$32.4B+18.1%
12Barrick MiningBCAMaterials$26.6B+9.3%
13NutrienNTRCAMaterials$25.3B+3.8%
14Agnico Eagle MinesAEMCAMaterials$24.7B+18.8%
15Cenovus EnergyCVECAEnergy$23.1B+11.7%
16TC EnergyTRPCAUtilities$19.9B+4.0%
17Teck ResourcesTECKCAMaterials$18.3B+1.1%
18Sun Life FinancialSLFCAFinancials$17.9B+0.9%
19FortisFTSCAUtilities$17.4B+5.1%
20BceBCECACommunication services$16.8B+41.7%
21Imperial OilIMOCAEnergy$16.3B−0.4%
22Canadian National RailwayCNICAIndustrials$15.8B+7.7%
23ShopifySHOPCATechnology$13.5B+16.6%
24Rogers CommunicationsRCICACommunication services$13.0B+79.3%
25Magna InternationalMGACAConsumer discretionary$12.5B+8.4%
26Pembina PipelinePBACAEnergy$12.2B+0.7%
27Thomson ReutersTRICACommunication services$11.9B−0.8%
28TelusTUCACommunication services$11.5B+6.1%
29EmeraEMACAUtilities$9.8B+5.9%
30Hydro OneHRNNFCAUtilities$9.2B+9.9%
31Wheaton Precious MetalsWPMCAMaterials$8.7B+19.7%
32Kinross GoldKGCCAMaterials$8.6B+25.0%
33Waste ConnectionsWCNCAUtilities$8.2B+4.9%
34Franco NevadaFNVCAMaterials$7.6B+27.3%
35Pan American SilverPAASCAMaterials$7.0B+48.7%
36Bausch & LombBLCOCAHealthcare$6.4B−0.4%
37West Fraser TimberWFGCAIndustrials$5.8B−15.9%
38Equinox GoldEQXCAMaterials$5.8B+70.6%
39RB GlobalRBACATechnology$5.6B+6.7%
40CamecoCCJCAMaterials$5.0B+14.0%
41Lululemon AthleticaLULUCAConsumer discretionary$5.0B+14.7%
42Algonquin Power & UtilitiesAQNCAUtilities$4.6B−1.4%
43Alamos GoldAGICAMaterials$4.4B+24.0%
44Eldorado GoldEGOCAMaterials$4.3B+9.8%
45IamgoldIAGCAMaterials$4.2B+25.6%
46Open TextOTEXCATechnology$4.0B−4.4%
47Gildan ActivewearGILCAConsumer discretionary$3.6B+144.5%
48Hudbay MineralsHBMCAMaterials$3.2B+26.5%
49Canadian SolarCSIQCATechnology$2.8B−0.3%
50First Majestic SilverAGCAMaterials$2.8B+104.4%
51South BowSOBOCAEnergy$2.7B+3.8%
52Tfi InternationalTFIICAIndustrials$2.7B+0.2%
53MethanexMEOHCAMaterials$2.4B+16.7%
54StantecSTNCAIndustrials$2.4B+15.6%
55CelesticaCLSCATechnology$2.2B+16.9%
56Triple Flag Precious MetalsTFPMCAFinancials$2.0B+17.8%
57Baytex EnergyBTECAEnergy$1.7B−39.8%
58Boyd Group ServicesBGSICAConsumer discretionary$1.7B+107.0%
59Fortuna MiningFSMCAMaterials$1.7B+19.5%
60Vermilion EnergyVETCAEnergy$1.6B−16.9%
61Descartes SystemsDSGXCATechnology$1.6B+16.9%
62Colliers InternationalCIGICAReal estate$1.5B+15.7%
63Aris MiningARISCAMaterials$1.4B+81.1%
64Or RoyaltiesORCAMaterials$1.4B+20.4%
65FirstserviceFSVCAReal estate$1.4B+15.8%
66Precision DrillingPDSCAEnergy$1.2B−0.8%
67Cronos GroupCRONCAHealthcare$1.1B+2.8%
68EnerflexEFXTCAIndustrials$1.1B+4.2%
69TransaltaTACCAUtilities$1.0B−15.8%
70Obsidian EnergyOBECAEnergy$1.0B+4.0%
71Ero CopperEROCAMaterials$936M+59.3%
72Greenfire ResourcesGFRCAEnergy$852M+49.3%
73SNDLSNDLCAHealthcare$804M+2.1%
74BlackberryBBCATechnology$741M+2.2%
75Aurinia PharmaceuticalsAUPHCAHealthcare$581M+54.0%
76Endeavour SilverEXKCAMaterials$579M+19.5%
77Trekor MetalsTGBCAMaterials$569M+62.6%
78Hive Digital TechnologiesHIVECAFinancials$559M+29.8%
79McewenMUXCAMaterials$546M+10.4%
80Canopy GrowthCGCCAHealthcare$546M+40.7%
81BRPDOOCAIndustrials$446M+160.0%
82Allied GoldAAUCCAMaterials$408M+17.9%
83TelesatTSATCACommunication services$388M−21.5%
84SprottSIICAFinancials$367M+13.5%
85Algoma SteelASTLCAMaterials$359M−65.8%
86ImaxIMAXCAConsumer discretionary$338M+12.8%
87North American ConstructionNOACAEnergy$333M+23.3%
88Gran Tierra EnergyGTECAEnergy$229M−44.7%
89Galiano GoldGAUCAMaterials$219M−10.1%
90Integra ResourcesITRGCAMaterials$185M+41.9%
91TerrascendTSNDFCAConsumer staples$99.0M−44.0%
92DoceboDCBOCATechnology$74.1M+28.3%
93Mercer InternationalMERCCAMaterials$68.1M−84.2%
94Dirtt Environmental SolutionsDRTTFCATechnology$28.5M−33.0%

All figures from SEC filings · FY2025 · 94

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{{cite web |title=Largest companies in Canada by shareholders' equity |url=https://companiesranked.com/en/largest-companies-in-canada-by-shareholders-equity |website=CompaniesRanked |date=2026-09-25 |language=en}}

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@misc{companiesranked-en-largest-companies-in-canada-by-shareholders-equity-2026,
  author       = {{CompaniesRanked}},
  title        = {{Largest companies in Canada by shareholders' equity}},
  year         = {2026},
  howpublished = {\url{https://companiesranked.com/en/largest-companies-in-canada-by-shareholders-equity}},
  note         = {Compiled from SEC EDGAR XBRL filings; data as of 2026-09-25},
  urldate      = {2026-09-25}
}

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