CANADA'S INNOVATION LEADERS
CANADA'S INNOVATION LEADERS
| Rank | Company | R&D Spending | Revenue | R&D Intensity | Industry | |||
|---|---|---|---|---|---|---|---|---|
| 2018 | 2017 | FY2018 $000 |
FY2017 $000 |
% Change 2017-2018 |
FY2018 $000 |
R&D Spending as % of Revenue** |
||
| 1 | 1 | Bombardier Inc.* | $1,471,915 | $1,603,771 | -8.2 | $21,036,985 | 7.0 | Aerospace |
| 2 | 2 | Magna International Inc.* | $761,872 | $677,869 | 12.4 | $52,899,544 | 1.4 | Automotive |
| 3 | 11 | Suncor Energy Inc. | $635,000 | $350,000 | 81.4 | $38,986,000 | 1.6 | Energy/Oil & Gas |
| 4 | 6 | Constellation Software Inc.* | $584,749 | $475,473 | 23.0 | $3,964,972 | 14.7 | Software & Computer Services |
| 5 | 5 | Pratt & Whitney Canada Corp. (fs) | $552,000 | $513,000 | 7.6 | nd | Aerospace | |
| 6 | 4 | BCE Inc. | $537,100 | $514,300 | 4.4 | $23,468,000 | 2.3 | Telecommunications Services |
| 7 | 7 | Bausch Health Companies Inc.* | $535,124 | $468,795 | 14.1 | $10,857,966 | 4.9 | Pharmaceuticals/Biotechnology |
| 8 | 3 | IBM Canada Ltd. (fs) | $512,000 | $525,000 | -2.5 | nd | Software & Computer Services | |
| 9 | 20 | Shopify Inc.* | $453,584 | $176,606 | 156.8 | $1,390,583 | 32.6 | Software & Computer Services |
| 10 | 9 | Open Text Corporation* | $419,108 | $365,790 | 14.6 | $3,647,708 | 11.5 | Software & Computer Services |
| 11 | 8 | Rogers Communications Inc. | $414,808 | $459,143 | -9.7 | $15,096,000 | 2.7 | Telecommunications Services |
| 12 | 14 | Ericsson Canada Inc. (fs) | $368,000 | $310,000 | 18.7 | nd | Comm/Telecom Equipment | |
| 13 | 16 | AMD Canada (fs) | $319,319 | $248,362 | 28.6 | nd | Electronic Systems & Parts | |
| 14 | 17 | TELUS Corporation | $307,000 | $240,000 | 27.9 | $14,368,000 | 2.1 | Telecommunications Services |
| 15 | 15 | CGI Group Inc. | $287,671 | $271,127 | 6.1 | $11,506,825 | 2.5 | Software & Computer Services |
| 16 | 13 | BlackBerry Limited* ++ | $283,758 | $310,365 | -8.6 | $1,171,313 | 24.2 | Software & Computer Services |
| 17 | 12 | Canadian Natural Resources Limited | $265,000 | $345,000 | -23.2 | $21,027,000 | 1.3 | Energy/Oil & Gas |
| 18 | 18 | BRP Inc.++ | $221,700 | $198,600 | 11.6 | $5,243,800 | 4.2 | Other Manufacturing |
| 19 | 22 | Huawei Canada (fs) | $186,742 | $142,882 | 30.7 | nd | Comm/Telecom Equipment | |
| 20 | 19 | CAE Inc. | $182,700 | $186,000 | -1.8 | $2,830,000 | 6.5 | Aerospace |
| 21 | 25 | Cisco Canada (fs) | $158,110 | $130,175 | 21.5 | nd | Comm/Telecom Equipment | |
| 22 | 21 | Imperial Oil Limited | $150,000 | $154,000 | -2.6 | $34,964,000 | 0.4 | Energy/Oil & Gas |
| 23 | 24 | Hydro-Québec | $144,000 | $132,000 | 9.1 | $14,370,000 | 1.0 | Electrical Power & Utilities |
| 24 | 23 | Mitel Networks Corporation* (b) + | $143,564 | $135,704 | 5.8 | $1,228,453 | 11.7 | Comm/Telecom Equipment |
| 25 | 26 | Sanofi (fs) (a) | $127,400 | $123,000 | 3.6 | $839,200 | 15.2 | Pharmaceuticals/Biotechnology |
| 26 | 27 | Sierra Wireless, Inc.* | $122,252 | $109,402 | 11.7 | $1,028,270 | 11.9 | Comm/Telecom Equipment |
| 27 | 42 | Stars Group Inc.* | $118,646 | $62,842 | 88.8 | $2,629,284 | 4.5 | Software & Computer Services |
| 28 | 28 | Ontario Power Generation Inc. | $106,000 | $106,000 | 0.0 | $5,537,000 | 1.9 | Electrical Power & Utilities |
| 29 | 32 | Pfizer Canada Inc. (fs) | $98,247 | $97,865 | 0.4 | $1,222,777 | 8.0 | Pharmaceuticals/Biotechnology |
| 30 | 30 | ProMetic Life Sciences Inc. | $94,841 | $101,946 | -7.0 | $47,374 | 200.2 | Pharmaceuticals/Biotechnology |
| 31 | 33 | Linamar Corporation | $90,664 | $86,605 | 4.7 | $7,620,582 | 1.2 | Automotive |
| 32 | 37 | EXFO Inc.* | $84,535 | $68,987 | 22.5 | $349,251 | 24.2 | Comm/Telecom Equipment |
| 33 | 35 | Novelis Inc.* (fs) | $82,925 | $75,319 | 10.1 | $14,851,313 | 0.6 | Mining & Metals |
| 34 | 39 | Syncrude Canada Ltd. | $82,322 | $67,933 | 21.2 | nd | Energy/Oil & Gas | |
| 35 | 36 | Evertz Technologies Limited | $80,804 | $73,699 | 9.6 | $402,832 | 20.1 | Comm/Telecom Equipment |
| 36 | 46 | Optiva Inc.* | $79,705 | $54,468 | 46.3 | $157,592 | 50.6 | Software & Computer Services |
| 37 | Medicago Inc. (fs) | $77,816 | $39,646 | 96.3 | $6,205 | 1,254.1 | Pharmaceuticals/Biotechnology | |
| 38 | 34 | Arbutus Biopharma Corporation* | $75,065 | $81,391 | -7.8 | $7,703 | 974.5 | Pharmaceuticals/Biotechnology |
| 39 | 48 | Zymeworks Inc.* | $73,445 | $54,215 | 35.5 | $68,697 | 106.9 | Pharmaceuticals/Biotechnology |
| 40 | 38 | GlaxoSmithKline Inc. (fs) | $70,621 | $68,271 | 3.4 | $820,684 | 8.6 | Pharmaceuticals/Biotechnology |
| 41 | 47 | Descartes Systems Group Inc.* ++ | $62,028 | $54,287 | 14.3 | $356,539 | 17.4 | Software & Computer Services |
| 42 | 64 | Canadian Solar Inc.* | $57,261 | $37,370 | 53.2 | $4,851,764 | 1.2 | Energy/Oil & Gas |
| 43 | 66 | Clementia Pharmaceuticals Inc.* + | $56,885 | $35,589 | 59.8 | $0 | Pharmaceuticals/Biotechnology | |
| 44 | 54 | Aurinia Pharmaceuticals Inc.* | $53,619 | $44,061 | 21.7 | $600 | Pharmaceuticals/Biotechnology | |
| 45 | 49 | Novartis Pharmaceuticals Canada Inc. (fs) | $52,000 | $51,000 | 2.0 | nd | Pharmaceuticals/Biotechnology | |
| 46 | 41 | Novelion Therapeutics Inc.* | $50,299 | $63,642 | -21.0 | $169,001 | 29.8 | Pharmaceuticals/Biotechnology |
| 47 | 56 | Pharmascience Inc. | $49,500 | $42,947 | 15.3 | $423,803 | 11.7 | Pharmaceuticals/Biotechnology |
| 48 | 61 | Resverlogix Corp.* | $49,086 | $38,884 | 26.2 | $0 | Pharmaceuticals/Biotechnology | |
| 49 | 60 | Dorel Industries Inc.* | $49,002 | $40,341 | 21.5 | $3,394,103 | 1.4 | Other Manufacturing |
| 50 | 50 | AstraZeneca Canada Inc. (fs) | $48,207 | $47,071 | 2.4 | $624,240 | 7.7 | Pharmaceuticals/Biotechnology |
| 51 | 51 | Enghouse Systems Limited | $47,540 | $45,890 | 3.6 | $342,845 | 13.9 | Software & Computer Services |
| 52 | 62 | Trillium Therapeutics Inc. | $44,297 | $38,420 | 15.3 | $0 | Pharmaceuticals/Biotechnology | |
| 53 | 83 | Titan Medical Inc.* | $42,574 | $16,753 | 154.1 | $0 | Medical Devices & Instrumentation | |
| 54 | 52 | Lockheed Martin Canada (fs) | $40,764 | $44,968 | -9.3 | $516,930 | 7.9 | Aerospace |
| 55 | 59 | Martinrea International Inc. | $40,735 | $40,808 | -0.2 | $3,662,900 | 1.1 | Automotive |
| 56 | 40 | Westport Fuel Systems Inc.* | $39,673 | $66,303 | -40.2 | $350,206 | 11.3 | Other Manufacturing |
| 57 | 67 | Thales Canada Inc. (fs) | $38,852 | $34,215 | 13.6 | $858,000 | 4.5 | Electronic Systems & Parts |
| 58 | 58 | ADVANZ PHARMA Corp.* | $38,493 | $40,883 | -5.8 | $695,773 | 5.5 | Pharmaceuticals/Biotechnology |
| 59 | 72 | L3 WESCAM (fs) | $37,598 | $26,462 | 42.1 | nd | Aerospace | |
| 60 | 68 | Celestica Inc.* | $37,316 | $34,023 | 9.7 | $8,594,637 | 0.4 | Electronic Systems & Parts |
| 61 | 69 | Kinaxis Inc.* | $35,795 | $33,532 | 6.7 | $195,297 | 18.3 | Software & Computer Services |
| 62 | 70 | Ballard Power Systems Inc.* | $35,034 | $32,494 | 7.8 | $125,146 | 28.0 | Machinery |
| 63 | 45 | Teck Resources Limited | $35,000 | $55,000 | -36.4 | $12,564,000 | 0.3 | Mining & Metals |
| 64 | 65 | Northland Power Inc. | $33,332 | $36,785 | -9.4 | $1,555,587 | 2.1 | Electrical Power & Utilities |
| 65 | 53 | Cascades Inc. | $30,791 | $44,964 | -31.5 | $4,649,000 | 0.7 | Forest & Paper Products |
| 66 | 57 | Eli Lilly Canada Inc. (fs) | $29,238 | $42,194 | -30.7 | nd | Pharmaceuticals/Biotechnology | |
| 67 | 73 | Pason Systems Inc. | $26,997 | $25,219 | 7.1 | $306,393 | 8.8 | Software & Computer Services |
| 68 | 81 | Mediagrif Interactive Technologies Inc. | $26,510 | $19,085 | 38.9 | $80,937 | 32.8 | Software & Computer Services |
| 69 | 74 | Absolute Software Corporation* | $25,985 | $22,758 | 14.2 | $121,306 | 21.4 | Software & Computer Services |
| 70 | Cenovus Energy Inc. | $25,000 | $36,000 | -30.6 | $20,844,000 | 0.1 | Energy/Oil & Gas | |
| 71 | Aptose Biosciences Inc.* | $24,272 | $8,147 | 197.9 | $0 | Pharmaceuticals/Biotechnology | ||
| 72 | 82 | Computer Modelling Group Ltd. | $21,772 | $17,842 | 22.0 | $74,680 | 29.2 | Software & Computer Services |
| 73 | 77 | Winpak Ltd.* | $21,560 | $20,261 | 6.4 | $1,152,708 | 1.9 | Rubber & Plastics |
| 74 | 78 | CES Energy Solutions Corp. | $20,000 | $20,000 | 0.0 | $1,271,100 | 1.6 | Energy/Oil & Gas |
| 75 | 76 | Servier Canada Inc. (fs) | $17,920 | $20,831 | -14.0 | $173,688 | 10.3 | Pharmaceuticals/Biotechnology |
| 76 | 71 | IMAX Corporation* | $17,787 | $27,082 | -34.3 | $485,111 | 3.7 | Other Services |
| 77 | Lightspeed POS Inc.* | $17,226 | $17,761 | -3.0 | $73,957 | 23.3 | Software & Computer Services | |
| 78 | Acasti Pharma Inc. | $16,078 | $7,983 | 101.4 | $0 | Pharmaceuticals/Biotechnology | ||
| 79 | 85 | Resolute Forest Products Inc. (fs) | $15,600 | $14,400 | 8.3 | $3,467,000 | 0.4 | Forest & Paper Products |
| 80 | 84 | Intertape Polymer Group Inc.* | $15,579 | $15,065 | 3.4 | $1,364,397 | 1.1 | Rubber & Plastics |
| 81 | 94 | Hydrogenics Corporation* | $15,578 | $11,443 | 36.1 | $43,919 | 35.5 | Energy/Oil & Gas |
| 82 | 98 | Baylin Technologies Inc. | $15,363 | $11,248 | 36.6 | $136,214 | 11.3 | Comm/Telecom Equipment |
| 83 | 90 | Vecima Networks Inc. | $15,338 | $12,091 | 26.9 | $78,104 | 19.6 | Comm/Telecom Equipment |
| 84 | 95 | Mogo Finance Technology Inc. | $14,747 | $11,373 | 29.7 | $61,277 | 24.1 | Other Services |
| 85 | 88 | BSM Technologies Inc. | $14,119 | $12,745 | 10.8 | $59,735 | 23.6 | Comm/Telecom Equipment |
| 86 | 91 | Intellipharmaceutics International Inc.* | $14,029 | $12,039 | 16.5 | $2,220 | 631.9 | Pharmaceuticals/Biotechnology |
| 87 | POET Technologies Inc.* | $13,182 | $9,269 | 42.2 | $5,038 | 261.7 | Electronic Systems & Parts | |
| 88 | IMV Inc. | $12,852 | $5,905 | 117.6 | $82 | Pharmaceuticals/Biotechnology | ||
| 89 | 80 | Espial Group Inc. | $12,811 | $19,306 | -33.6 | $26,670 | 48.0 | Software & Computer Services |
| 90 | 93 | Rio Tinto Iron & Titanium Inc. (fs) | $12,500 | $11,764 | 6.3 | $1,120,000 | 1.1 | Mining & Metals |
| 91 | Neptune Technologies & Bioressources Inc. + | $12,396 | $7,249 | 71.0 | $26,168 | 47.4 | Pharmaceuticals/Biotechnology | |
| 92 | Buhler Industries Inc. | $12,345 | $9,604 | 28.5 | $287,984 | 4.3 | Agriculture & Food | |
| 93 | 89 | Velan Inc.* ++ | $12,055 | $12,477 | -3.4 | $475,347 | 2.5 | Other Manufacturing |
| 94 | Repare Therapeutics Inc. (fs) | $12,000 | $6,542 | 83.4 | $0 | Pharmaceuticals/Biotechnology | ||
| 95 | 100 | ShawCor Ltd. | $11,876 | $10,536 | 12.7 | $1,408,872 | 0.8 | Other Manufacturing |
| 96 | 79 | Enlighten Innovations Inc. | $11,680 | $19,600 | -40.4 | $0 | Energy/Oil & Gas | |
| 97 | Stingray Digital Group Inc.+ | $11,437 | $9,847 | 16.1 | $126,953 | 9.0 | Telecommunications Services | |
| 98 | 96 | TECSYS Inc. | $11,429 | $11,347 | 0.7 | $70,718 | 16.2 | Software & Computer Services |
| 99 | 97 | Héroux-Devtek Inc. | $11,282 | $11,281 | 0.01 | $386,564 | 2.9 | Aerospace |
| 100 | 92 | Theratechnologies Inc. | $10,324 | $11,856 | -12.9 | $58,553 | 17.6 | Pharmaceuticals/Biotechnology |
