Companies that do not issue publicly traded shares in Canada are a huge part of the economy. Many are subsidiaries of multinationals or are family-owned. We rank them by revenue, the one significant financial measure they disclose
REVENUE
RANK
COMPANY AND YEAR-END
GROUP
REVENUE
$000
RETURN ON CAPITAL %
PROFIT
$000
ASSETS
$000
MAJOR SHAREHOLDER(S)
1 Rio Tinto Alcan Inc.(De08)1 mining (U.S.)23,839,000 n/a (U.S.)1,184,000 (U.S.)35,730,000 Rio Tinto Group (U.K., Australia) 100%
2 General Motors of Canada(De08)1 auto (U.S.)21,602,087 n/a (U.S.)-4,398,374 (U.S.)11,198,789 General Motors (U.S.) 100%
3 Vale Inco Ltd.(De07)1 mining (U.S.)11,880,000 n/a n/a n/a Companhia Vale do Rio Doce (Brazil) 100%
4 Syncrude Canada(De08) oilprd 12,365,000 n/a n/a n/a Cdn. Oil Sands 36.7%, Imperial Oil 25%
5 Novelis Inc.(Ma08)1 metal (U.S.)11,348,000 3.6 (U.S.)-117,000 (U.S.)10,682,000 Hindalco Industries Ltd. (India) 100%
6 Direct Energy Marketing Ltd.(De08) util 11,396,905 9.7 287,620 6,947,210 Centrica PLC (U. K.) 100%
7 Ultramar Ltd.(De08)1 oil (U.S.)9,961,000 n/a n/a (U.S.)1,999,000 Valero Energy Corp. (U.S.) 100%
8 Costco Wholesale Canada(Au08)1 retail (U.S.)10,527,777 n/a n/a (U.S.)2,476,970 Costco Wholesale Corp. (U.S.) 100%
9 Honda Canada(Ma09) auto 9,358,000 n/a n/a 4,735,000 Honda(Japan) 50.1%, Honda(U.S.) 49.8%
10 McKesson Canada(Ma08)1 whole (U.S.)8,106,000 n/a n/a n/a McKesson Corp. (U.S.) 100%
11 Ford Motor Co. of Canada(De08)1 auto (U.S.)7,781,000 n/a n/a (U.S.)6,377,000 Ford Motor Co. (U.S.) 100%
12 IBM Canada(De08) tech 7,173,000 n/a n/a n/a IBM Corp.(U.S.) 100%
13 Katz Group(Ja08) retail 7,000,000 n/a n/a n/a Daryl Katz (AB) 100%
14 Canada Safeway(Ja09)1 food (U.S.)6,442,800 n/a n/a (U.S.)1,888,000 Safeway Inc. (U.S.) 100%
15 Home Depot Canada(Fe09) retail 6,820,000 n/a n/a n/a Home Depot (U.S.) 100%
16 Jim Pattison Group(De08) mgt 6,700,000 n/a n/a n/a Jim Pattison (BC) 100%
17 PCL Construction Group(Oc08) eng 6,000,000 n/a n/a n/a Employees 100%
18 McCain Foods(Ju08) food 5,950,000 n/a n/a 4,865,000 McCain family 100%
19 Cargill Ltd.(My08) whole 5,907,000 n/a n/a 2,145,000 Cargill Inc. (U.S.) 100%
20 Best Buy Canada(Fe09) retail 5,755,021 n/a n/a n/a Best Buy Co. (U.S.) 100%
21 Canpotex Ltd.(De08)1 whole (U.S.)4,946,790 n/a n/a n/a Agrium/IMC Canada/Potash Corp. 100%
22 ConocoPhillips Canada Resource(De08)1 oilprd (U.S.)4,939,000 n/a (U.S.)1,628,000 n/a ConocoPhillips Canada (BRC) Ltd. 100%
23 James Richardson & Sons(De08) whole 4,860,545 n/a n/a n/a Richardson family 100%
24 Home Hardware Stores(De08) retail 4,850,000 n/a n/a n/a Kitchen family (ON) 100%
25 Hewlett-Packard (Canada)(Oc08)1 tech (U.S.)4,180,000 n/a n/a n/a Hewlett-Packard Co. (U.S.) 100%
26 Dow Chemical Canada(De08) chem 3,900,000 n/a n/a n/a The Dow Chemical Co. (U.S.) 100%
27 Devon Canada(De08)1 oilprd (U.S.)3,573,000 -23.6 (U.S.)-1,500,000 (U.S.)7,259,000 Devon Energy Corp. (U.S.) 100%
28 Quebecor Media(De08) bcast 3,760,700 0.7 -380,000 7,996,200 Quebecor Inc. 54.7%, CDPQ 45.3%
29 Pratt & Whitney Canada(De08) indust 3,600,000 n/a n/a n/a United Technologies (U.S.) 100%
30 Aviva Canada(De08) p&c 3,465,700 30.0 233,100 8,211,600 Aviva PLC (U.K.) 100%
31 Epcor Utilities(De08) util 3,435,000 6.4 175,000 6,948,000 City of Edmonton 100%
32 Mitsui & Co. (Canada)(Ma08) whole 3,375,000 n/a n/a n/a Mitsui & Co. (Japan) 100%
33 McDonald's Restaurants of Canada(De08) serv 3,350,000 n/a n/a n/a McDonald's Corp. (U.S.) 100%
34 Bell Aliant Regional Communications(De08) tele 3,284,300 6.11 322,200 10,753,000 IF unitholders 55.9%, BCE Inc. 44.2%
35 GMAC of Canada(De08) fin 3,146,741 -2.1 -413,943 22,522,280 GMAC LLC (U.S.) 100%
36 Ford Credit Canada(De08)1 fin (U.S.)2,598,000 -8.5 (U.S.)-1,070,000 (U.S.)11,925,000 Ford Motor Co. (U.S.) 100%
37 Enmax Corp.(De08) util 2,678,500 11.1 181,100 3,481,600 City of Calgary 100%
38 Siemens Canada(De08) tech 2,678,000 n/a n/a n/a Siemens AG (Germany) 100%
39 Kruger Inc.(De08) forest 2,600,000 n/a n/a 3,100,000 Hicliff Corp (QC) 99%
40 Ledcor Group of Cos.(Au08) eng 2,514,000 n/a n/a n/a Employees 100%
41 EllisDon Inc.(Fe09) eng 2,399,212 n/a n/a 849,663 Smith family 55%, employees 45%
42 Toronto Hydro Corp.(De08) util 2,394,892 11.5 169,012 2,779,783 City of Toronto 100%
43 Nestlé Canada(De08) food 2,391,000 n/a n/a n/a Nestlé SA (Switzerland) 100%
44 Nissan Canada(Ma08) whole 2,349,553 n/a n/a n/a Nissan Motor (Japan) 38%, NNA (U.S.) 62%
45 Gaz Métro Inc.(Se08) util 2,202,311 8.9 34,054 3,521,055 Enbridge 32%, CDPQ 26%, Gaz de France 18
46 Iron Ore Co. of Canada(De08) steel 2,199,908 n/a 567,122 n/a Rio Tinto 58.7%, Mitsubishi Corp. 26.2%
47 Parmalat Canada(De08) food 2,156,000 n/a n/a n/a Parmalat SPA (Italy) 100%
48 John Deere Ltd.(Oc08) whole 2,103,000 n/a n/a n/a Deere & Co. (U.S.) 100%
49 Masonite International(De08)1 consumer (U.S.)1,900,000 n/a n/a n/a Kohlberg Kravis Roberts & Co. (U.S.) 100%
50 Wawanesa Mutual Insurance Co.(De08) p&c 1,966,660 1.5 19,049 4,716,224 Policyholders 100%
51 CTVglobemedia(No07) bcast 1,938,295 2.1 85,880 5,012,748 Woodbridge 40%, OTPP 25%, Torstar 20%, BCE 15%
52 Economical Mutual Insurance(De08) p&c 1,928,483 -12.2 -102,359 4,441,221 Policyholders 100%
53 Terasen Inc.(De08) util 1,921,500 7.5 101,700 4,758,600 Fortis Inc. (NL) 100%
54 AXA Canada(De08) p&c 1,876,503 n/a 81,793 4,893,244 AXA Group (France) 100%
55 Royal & SunAlliance Canada Group(De08) p&c 1,874,043 11.8 132,147 5,509,786 RSA Insurance Group (U.K.) 100%
56 Lloyd's Underwriters (Canada)(De08) p&c 1,817,990 47.0 555,742 3,563,314 Lloyd's underwriters (U.K.) 100%
57 Apache Canada(De08)1 oilprd (U.S.)1,650,402 n/a (U.S.)-912,424 (U.S.)5,846,269 Apache Corp. (U.S.) 100%
58 Standard Life Financial(De08) insur 1,734,196 -2.4 -247 30,318,676 Standard Life (U.K.) 100%
59 Terasen Gas(De08) util 1,664,600 8.5 91,500 3,108,900 Kinder Morgan (U.S.) 100%
60 Graham Group(De08) eng 1,632,000 n/a n/a 673,000 Employees 100%
61 Jacobs Engineering Canada(Se08)1 eng (U.S.)1,593,009 n/a n/a n/a Jacobs Engineering Group (U.S.) 100%
62 Investors Group(De08) fin 1,589,092 n/a n/a 3,121,616 IGM Financial (MB) 100%
63 ArcelorMittal Canada(De08) steel 1,581,668 n/a n/a 4,020,582 ArcelorMittal SA (Luxembourg) 100%
64 Purolator Courier(De08) serv 1,567,000 n/a 91,000 689,000 Canada Post 94%, Barry Lapointe 4.9%
65 Mercedes-Benz Canada(De08) whole 1,566,910 n/a n/a n/a Daimler AG (Germany) 100%
66 Uniprix Inc.(De08) retail 1,546,164 n/a 19,743 450,898 Pharmacy owners 100%
67 Univar Canada(De08) whole 1,529,000 n/a n/a n/a CVC Capital Partners (Luxembourg) 100%
68 Tolko Industries(De07) forest 1,500,000 n/a n/a n/a Thorlakson family 100%
69 Unilever Canada(De08) consumer 1,492,500 n/a n/a 620,300 Unilever PLC (U.K.)/CN Holdings 100%
70 Aviva Insurance Co. of Canada(De08) p&c 1,480,893 21.5 99,300 3,744,395 Aviva PLC (U.K.) 100%
71 Hyundai Auto Canada(De07) auto 1,477,000 n/a n/a n/a Hyundai Motor America 100%
72 Murphy Oil Co.(De08) oilprd 1,460,771 35.8 622,631 3,488,822 Murphy Oil (U.S.) 100%
73 Essar Steel Algoma(Ma08)3 steel 1,436,000 -1.2 -11,400 2,637,400 Essar Group (India) 100%
74 Apple Canada(Se08) tech 1,400,000 n/a n/a n/a Apple Inc. (U.S.) 100%
75 State Farm Mutual (Canada)(De08) p&c 1,397,866 -9.5 -65,737 4,208,916 Policyholders 100%
76 Ikea Canada Ltd. Partnership(Au08) retail 1,390,000 n/a n/a n/a Ingka Holding (Netherlands) 100%
77 Evraz Inc. NA Canada(De08)1 steel (U.S.)1,283,000 n/a n/a (U.S.)2,412,000 Evraz Inc. NA (U.S.) 100%
78 Wolseley Canada(Jl08) whole 1,376,397 n/a n/a 728,761 Wolseley PLC (U.K.) 100%
79 AstraZeneca Canada(De08)1 bio (U.S.)1,269,000 n/a n/a n/a AstraZeneca PLC (U.K.) 100%
80 Versacold International(Oc08) serv 1,253,117 3.8 -135,585 1,743,711 Hf. Eimskipafelag Islands (Iceland) 100%
81 Bowater Canadian Forest Products(De08) forest 1,241,000 -20.9 -380,000 1,758,000 AbitibiBowater Inc. (U.S.) 100%
82 Security National Insurance Co.(De08) p&c 1,234,236 17.9 121,035 3,081,182 Toronto-Dominion Bank (ON) 100%
83 Ivanhoe Cambridge(De08) dev 1,228,100 n/a 128,100 14,469,000 CDPQ (QC) 93.7%
84 NAV Canada(Au08) trans 1,228,000 4.6 n/a 3,098,000 n/a
85 Sony of Canada(Ma08) whole 1,228,000 n/a n/a n/a Sony Corp. (Japan) 100%
86 MBNA Canada Bank(De08) banks 1,192,963 27.1 248,196 7,062,962 Bank of America (U.S.) 100%
87 Sun Media(De08) pub 1,181,400 n/a n/a 1,788,400 Quebecor Media (QC) 100%
88 Green Shield Canada(De08) p&c 1,180,406 3.9 12,388 314,016 n/a
89 Pharmasave Drugs (National)(De07) retail 1,175,000 n/a n/a n/a Pharmacy owners 100%
90 ING Bank of Canada(De08) banks 1,167,460 10.1 65,595 26,054,443 ING Groep (Netherlands) 100%
91 Amex Bank of Canada(De08) banks 1,146,704 8.5 40,429 4,428,807 American Express (U.S.) 100%
92 Cognos Inc.(Fe07)1 tech (U.S.)1,004,167 18.8 (U.S.)115,697 (U.S.)1,292,761 IBM Corp. (U.S.) 100%
93 SMS Equipment(De08) whole 1,118,753 n/a n/a 867,005 Sumitomo Corp. (Japan) 100%
94 Allstream Inc.(De08) tech 1,103,600 n/a n/a 1,719,500 Manitoba Telecom Services (MB) 100%
95 Hatch Ltd.(Se07) serv 1,103,038 n/a n/a 528,635 Employees 100%
96 Fluor Canada(De08)1 eng (U.S.)1,008,000 n/a n/a (U.S.)323,000 Fluor Corp. (U.S.) 100%
97 Medavie Inc.(De08) insur 1,056,155 7.0 17,015 389,502 Members 100%
98 BASF Canada(De08) chem 1,046,632 15.0 55,631 863,829 BASF SE (Germany) 100%
99 Connors Bros. Income Fund(De07)1 food (U.S.)920,810 -10 (U.S.)-73,162 (U.S.)882,850 Centre Partners
100 GlaxoSmithKline Inc.(De08)2 bio (GBP)503,000 n/a n/a n/a GlaxoSmithKline (U.K.) 100%
Industry groups auto = automotive, banks = banks, bcast = broadcasting, bevg = beverages, bio = biotech & pharmaceuticals, cement = cement, chem = chemicals, consumer = consumer products, dev = real estate developers, eng = engineering & construction, ent = entertainment, env = environmental services, fin = financial services, food = food production or distribution, forest = forest products, homefurn = home furniture & appliances, indust = industrial products, insur = life insurance, media = media, metal = metal fabrication, mgt = management companies, mining = mining, oil = integrated oils, oilprd = oil & gas production, oilserv = oil & gas field services, p&c = property & casualty insurance, paper = paper products & packaging, pipeline = pipelines, pmetals = precious metals, pub = publishing & printing, retail = retailers, serv = services, steel = steel, tech = technology, tele = telephone utilities, textile = textiles & apparel, trans = transportation, trust = trust company, util = gas & electrical utilities, whole = wholesaler Notes For ranking purposes, figures from companies that report in foreign currencies have been converted to Canadian dollars and partial-year results have been annualized. Foreign currencies are converted at the end of the relevant fiscal period for balance sheet items and at the average exchange rate for the relevant period for earnings items. Share-price calculations are based on closing share prices on the companies' balance sheet dates. Footnotes 1. Company reports in U.S. dollars. 2. Company reports in U.K. pounds. 3. Figures have been annualized in latest year. Abbreviations n/a = not available