Canada's Top 100 Corporate R&D Spenders 2018
| Rank | Company | R&D Spending | Revenue | R&D Intensity | Industry | |||
|---|---|---|---|---|---|---|---|---|
| 2017 | 2016 | FY2017 $000 |
FY2016 $000 |
% Change 2016-2017 |
FY2017 $000 |
R&D Spending as % of Revenue** |
||
| 1 | 1 | Bombardier Inc.* | $1,603,771 | $1,968,653 | -18.5 | $21,060,695 | 7.6 | Aerospace |
| 2 | 2 | Magna International Inc.* | $677,869 | $662,400 | 2.3 | $47,513,177 | 1.4 | Automotive |
| 3 | 8 | IBM Canada Ltd. (fs) | $525,000 | $478,000 | 9.8 | nd | Software & Computer Services | |
| 4 | 5 | BCE Inc. | $514,300 | $518,900 | -0.9 | $22,719,000 | 2.3 | Telecommunications Services |
| 5 | 6 | Pratt & Whitney Canada Corp. (fs) | $513,000 | $511,000 | 0.4 | nd | Aerospace | |
| 6 | 9 | Constellation Software Inc.* | $475,473 | $415,645 | 14.4 | $3,219,776 | 14.8 | Software & Computer Services |
| 7 | 3 | Valeant Pharmaceuticals International, Inc.* | $468,795 | $557,741 | -15.9 | $11,328,986 | 4.1 | Pharmaceuticals/Biotechnology |
| 8 | 7 | Rogers Communications Inc. | $459,143 | $480,555 | -4.5 | $14,143,000 | 3.2 | Telecommunications Services |
| 9 | 15 | Open Text Corporation* | $365,790 | $257,087 | 42.3 | $2,975,167 | 12.3 | Software & Computer Services |
| 10 | 12 | Apotex Inc. | $363,688 | $311,870 | 16.6 | $2,202,789 | 16.5 | Pharmaceuticals/Biotechnology |
| 11 | 17 | Suncor Energy Inc. | $350,000 | $200,000 | 75.0 | $32,176,000 | 1.1 | Energy/Oil & Gas |
| 12 | 4 | Canadian Natural Resources Limited | $345,000 | $549,000 | -37.2 | $16,651,000 | 2.1 | Energy/Oil & Gas |
| 13 | 10 | BlackBerry Limited* ++ | $310,365 | $405,389 | -23.4 | $1,210,295 | 25.6 | Software & Computer Services |
| 14 | 11 | Ericsson Canada Inc. (fs) | $310,000 | $315,000 | -1.6 | nd | Comm/Telecom Equipment | |
| 15 | 13 | CGI Group Inc. | $271,127 | $267,082 | 1.5 | $10,845,066 | 2.5 | Software & Computer Services |
| 16 | 16 | AMD Canada (fs) | $248,362 | $218,807 | 13.5 | nd | Electronic Systems & Parts | |
| 17 | 20 | TELUS Corporation | $240,000 | $184,000 | 30.4 | $13,304,000 | 1.8 | Telecommunications Services |
| 18 | 19 | BRP Inc.++ | $198,600 | $184,100 | 7.9 | $4,486,900 | 4.4 | Other Manufacturing |
| 19 | 21 | CAE Inc. | $186,000 | $150,000 | 24.0 | $2,704,500 | 6.9 | Aerospace |
| 20 | 28 | Shopify Inc.* | $176,606 | $98,480 | 79.3 | $874,353 | 20.2 | Software & Computer Services |
| 21 | 18 | Imperial Oil Limited | $154,000 | $195,000 | -21.0 | $29,125,000 | 0.5 | Energy/Oil & Gas |
| 22 | 25 | Huawei Canada (fs) | $142,882 | $127,479 | 12.1 | nd | Comm/Telecom Equipment | |
| 23 | 24 | Mitel Networks Corporation* | $135,704 | $127,843 | 6.1 | $1,375,347 | 9.9 | Comm/Telecom Equipment |
| 24 | 27 | Hydro-Québec | $132,000 | $122,000 | 8.2 | $13,468,000 | 1.0 | Electrical Power & Utilities |
| 25 | 22 | Cisco Canada (fs) | $130,175 | $133,968 | -2.8 | nd | Comm/Telecom Equipment | |
| 26 | 23 | Sanofi (fs)(a) | $123,000 | $130,000 | -5.4 | $758,587 | 16.2 | Pharmaceuticals/Biotechnology |
| 27 | 29 | Sierra Wireless, Inc.* | $109,402 | $97,631 | 12.1 | $898,731 | 12.2 | Comm/Telecom Equipment |
| 28 | 34 | Ontario Power Generation Inc. | $106,000 | $82,000 | 29.3 | $5,158,000 | 2.1 | Electrical Power & Utilities |
| 29 | 31 | Bayer Inc. (fs) | $104,861 | $92,202 | 13.7 | $1,142,883 | 9.2 | Pharmaceuticals/Biotechnology |
| 30 | 32 | ProMetic Life Sciences Inc. | $101,946 | $89,744 | 13.6 | $39,115 | 260.6 | Pharmaceuticals/Biotechnology |
| 31 | 26 | Maxar Technologies* | $100,969 | $126,452 | -20.2 | $2,118,248 | 4.8 | Software & Computer Services |
| 32 | 30 | Pfizer Canada Inc. (fs) | $97,865 | $97,121 | 0.8 | $1,199,741 | 8.2 | Pharmaceuticals/Biotechnology |
| 33 | 33 | Linamar Corporation | $86,605 | $85,292 | 1.5 | $6,546,458 | 1.3 | Automotive |
| 34 | 35 | Arbutus Biopharma Corporation* | $81,391 | $81,148 | 0.3 | $13,895 | 585.8 | Pharmaceuticals/Biotechnology |
| 35 | 38 | Novelis Inc.* (fs) | $75,319 | $71,539 | 5.3 | $12,454,873 | 0.6 | Mining & Metals |
| 36 | 41 | Evertz Technologies Limited | $73,699 | $66,892 | 10.2 | $384,432 | 19.2 | Comm/Telecom Equipment |
| 37 | 43 | EXFO Inc.* | $68,987 | $63,425 | 8.8 | $315,951 | 21.8 | Comm/Telecom Equipment |
| 38 | 44 | GlaxoSmithKline Inc. (fs) | $68,271 | $62,452 | 9.3 | $729,426 | 9.4 | Pharmaceuticals/Biotechnology |
| 39 | 45 | Syncrude Canada Ltd. | $67,933 | $61,886 | 9.8 | nd | Energy/Oil & Gas | |
| 40 | 36 | Westport Fuel Systems Inc.* | $66,303 | $78,710 | -15.8 | $320,836 | 20.7 | Other Manufacturing |
| 41 | 82 | Novelion Therapeutics Inc.* | $63,642 | $19,586 | 224.9 | $179,776 | 35.4 | Pharmaceuticals/Biotechnology |
| 42 | 42 | Stars Group Inc.* | $62,842 | $64,414 | -2.4 | $1,704,172 | 3.7 | Software & Computer Services |
| 43 | 47 | Microsemi Storage Solutions Ltd.* (fs) | $61,358 | $54,229 | 13.1 | $1,660 | Electronic Systems & Parts | |
| 44 | Amgen Canada Inc. (fs) | $60,600 | $66,500 | -8.9 | nd | Pharmaceuticals/Biotechnology | ||
| 45 | 66 | Teck Resources Limited | $55,000 | $30,000 | 83.3 | $12,048,000 | 0.5 | Mining & Metals |
| 46 | 46 | Optiva Inc.* | $54,468 | $60,273 | -9.6 | $179,108 | 30.4 | Software & Computer Services |
| 47 | 55 | Descartes Systems Group Inc.* ++ | $54,287 | $47,105 | 15.2 | $308,338 | 17.6 | Software & Computer Services |
| 48 | 53 | Zymeworks Inc.* | $54,215 | $48,774 | 11.2 | $67,218 | 80.7 | Pharmaceuticals/Biotechnology |
| 49 | 51 | Novartis Pharmaceuticals Canada Inc. (fs) | $51,000 | $49,000 | 4.1 | nd | Pharmaceuticals/Biotechnology | |
| 50 | 50 | AstraZeneca Canada Inc. (fs) | $47,071 | $50,065 | -6.0 | $626,933 | 7.5 | Pharmaceuticals/Biotechnology |
| 51 | 56 | Enghouse Systems Limited | $45,890 | $46,339 | -1.0 | $325,368 | 14.1 | Software & Computer Services |
| 52 | 90 | Lockheed Martin Canada (fs) | $44,968 | $16,244 | 176.8 | $460,920 | 9.8 | Aerospace |
| 53 | 59 | Cascades Inc. | $44,964 | $38,197 | 17.7 | $4,321,000 | 1.0 | Forest & Paper Products |
| 54 | 83 | Aurinia Pharmaceuticals Inc.* | $44,061 | $19,255 | 128.8 | $545 | Pharmaceuticals/Biotechnology | |
| 55 | 57 | Avigilon Corporation* | $43,376 | $43,121 | 0.6 | $530,646 | 8.2 | Computer Equipment |
| 56 | 51 | Pharmascience Inc. | $42,947 | $49,000 | -12.4 | $525,647 | 8.2 | Pharmaceuticals/Biotechnology |
| 57 | Eli Lilly Canada Inc. (fs) | $42,194 | $40,726 | 3.6 | nd | Pharmaceuticals/Biotechnology | ||
| 58 | 48 | Concordia International Corp.* | $40,883 | $53,836 | -24.1 | $813,143 | 5.0 | Pharmaceuticals/Biotechnology |
| 59 | 60 | Martinrea International Inc. | $40,808 | $37,477 | 8.9 | $3,690,499 | 1.1 | Automotive |
| 60 | 49 | Dorel Industries Inc.* | $40,341 | $51,789 | -22.1 | $3,347,360 | 1.2 | Other Manufacturing |
| 61 | 80 | Resverlogix Corp.* | $38,884 | $20,839 | 86.6 | $0 | Pharmaceuticals/Biotechnology | |
| 62 | 65 | Trillium Therapeutics Inc. | $38,420 | $30,030 | 27.9 | $0 | Pharmaceuticals/Biotechnology | |
| 63 | 61 | Monsanto Canada Inc. (fs) | $37,528 | $35,297 | 6.3 | $1,010,063 | 3.7 | Agriculture & Food |
| 64 | 72 | Canadian Solar Inc.* | $37,370 | $23,061 | 62.0 | $4,402,764 | 0.8 | Energy/Oil & Gas |
| 65 | 64 | Northland Power Inc. | $36,785 | $31,255 | 17.7 | $1,376,256 | 2.7 | Electrical Power & Utilities |
| 66 | 76 | Clementia Pharmaceuticals Inc.* | $35,589 | $22,326 | 59.4 | $0 | Pharmaceuticals/Biotechnology | |
| 67 | 58 | Thales Canada Inc. (fs) | $34,215 | $38,700 | -11.6 | $692,000 | 4.9 | Electronic Systems & Parts |
| 68 | 63 | Celestica Inc.* | $34,023 | $32,988 | 3.1 | $7,935,095 | 0.4 | Electronic Systems & Parts |
| 69 | 68 | Kinaxis Inc.* | $33,532 | $29,299 | 14.4 | $173,125 | 19.4 | Software & Computer Services |
| 70 | 70 | Ballard Power Systems Inc.* | $32,494 | $26,267 | 23.7 | $157,505 | 20.6 | Machinery |
| 71 | 79 | IMAX Corporation* | $27,082 | $21,614 | 25.3 | $494,464 | 5.5 | Other Services |
| 72 | 81 | L3 WESCAM (fs) | $26,462 | $25,224 | 4.9 | nd | Aerospace | |
| 73 | 74 | Pason Systems Inc. | $25,219 | $22,848 | 10.4 | $245,643 | 10.3 | Software & Computer Services |
| 74 | 88 | Absolute Software Corporation* | $22,758 | $16,422 | 38.6 | $118,447 | 19.2 | Software & Computer Services |
| 75 | 86 | Enbridge Inc. | $22,500 | $18,300 | 23.0 | $44,378,000 | 0.1 | Energy/Oil & Gas |
| 76 | 89 | Servier Canada Inc. (fs) | $20,831 | $16,313 | 27.7 | $359,752 | 5.8 | Pharmaceuticals/Biotechnology |
| 77 | 75 | Winpak Ltd.* | $20,261 | $22,744 | -10.9 | $1,151,565 | 1.8 | Rubber & Plastics |
| 78 | 95 | CES Energy Solutions Corp. | $20,000 | $15,000 | 33.3 | $1,078,000 | 1.9 | Energy/Oil & Gas |
| 79 | Field Upgrading Limited | $19,600 | $9,820 | 99.6 | $0 | Energy/Oil & Gas | ||
| 80 | 92 | Espial Group Inc. | $19,306 | $15,511 | 24.5 | $33,433 | 57.7 | Software & Computer Services |
| 81 | 93 | Mediagrif Interactive Technologies Inc. | $19,085 | $15,395 | 24.0 | $77,738 | 24.6 | Software & Computer Services |
| 82 | 85 | Computer Modelling Group Ltd. | $17,842 | $18,366 | -2.9 | $75,097 | 23.8 | Software & Computer Services |
| 83 | 67 | Titan Medical Inc.* | $16,753 | $29,911 | -44.0 | $0 | Medical Devices & Instrumentation | |
| 84 | 96 | Intertape Polymer Group Inc.* | $15,065 | $14,295 | 5.4 | $1,166,306 | 1.3 | Rubber & Plastics |
| 85 | 84 | Resolute Forest Products Inc. (fs) | $14,400 | $18,400 | -21.7 | $3,193,000 | 0.5 | Forest & Paper Products |
| 86 | Essa Pharma Inc.* | $14,179 | $17,302 | -18.0 | $0 | Pharmaceuticals/Biotechnology | ||
| 87 | 78 | AEterna Zentaris Inc.* | $13,900 | $21,853 | -36.4 | $1,199 | Pharmaceuticals/Biotechnology | |
| 88 | BSM Technologies Inc. | $12,745 | $8,641 | 47.5 | $66,717 | 19.1 | Comm/Telecom Equipment | |
| 89 | Velan Inc.* ++ | $12,477 | $10,557 | 18.2 | $438,879 | 2.8 | Other Manufacturing | |
| 90 | Vecima Networks Inc. | $12,091 | $10,866 | 11.3 | $71,460 | 16.9 | Comm/Telecom Equipment | |
| 91 | Intellipharmaceutics International Inc.* | $12,039 | $10,820 | 11.3 | $7,147 | 168.4 | Pharmaceuticals/Biotechnology | |
| 92 | Theratechnologies Inc. | $11,856 | $7,594 | 56.1 | $42,864 | 27.7 | Pharmaceuticals/Biotechnology | |
| 93 | 69 | Rio Tinto Iron & Titanium Inc. (fs) | $11,764 | $27,960 | -57.9 | $1,120,000 | 1.1 | Mining & Metals |
| 94 | 100 | Hydrogenics Corporation* | $11,443 | $10,926 | 4.7 | $62,400 | 18.3 | Energy/Oil & Gas |
| 95 | Mogo Finance Technology Inc. | $11,373 | $10,114 | 12.4 | $48,681 | 23.4 | Other Services | |
| 96 | TECSYS Inc. | $11,347 | $10,749 | 5.6 | $68,447 | 16.6 | Software & Computer Services | |
| 97 | 77 | Héroux-Devtek Inc. | $11,281 | $22,000 | -48.7 | $386,564 | 2.9 | Aerospace |
| 98 | Baylin Technologies Inc. | $11,248 | $10,229 | 10.0 | $91,642 | 12.3 | Comm/Telecom Equipment | |
| 99 | AgJunction Inc.* | $10,662 | $10,249 | 4.0 | $60,750 | 17.6 | Comm/Telecom Equipment | |
| 100 | 98 | ShawCor Ltd. | $10,536 | $13,239 | -20.4 | $1,566,652 | 0.7 | Other Manufacturing |
Notes:
**Based on companies with $2 million or more of revenue
++Fiscal 2018 figures were used for year-ended January or February
fs = Foreign subsidiary (includes revenue and R&D spending for Canadian operations only)
nd = Not disclosed
(a) Sanofi Pasteur Limited and sanofi-aventis Canada Inc. (including Sanofi Genzyme Canada).
- Data were obtained through annual reports, financial statements, securities commission filings, or through a survey.
- We have attempted, whenever possible, to provide gross R&D spending before deduction of investment tax credits or government grants.
- We have attempted, wherever possible, to provide revenue net of interest and investment income.
- FY2016 R&D spending figures may have been adjusted as more accurate information became available.
- Canadian-owned company results include worldwide revenue and R&D spending; foreign subsidiaries (fs) for their Canadian operations only.
**Based on companies with $2 million or more of revenue
++Fiscal 2018 figures were used for year-ended January or February
fs = Foreign subsidiary (includes revenue and R&D spending for Canadian operations only)
nd = Not disclosed
(a) Sanofi Pasteur Limited and sanofi-aventis Canada Inc. (including Sanofi Genzyme Canada).