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August 25, 2025CANADA FINANCIAL STATISTICS FOR ENTERPRISES, Q2 2025 In Q2 2025, Canadian enterprise net income before taxes (seasonally adjusted) was $162.127 billion. All broad industry categories reported positive income before taxes in Q2 2025. The largest values of net income before taxes were reported in miscellaneous financial intermediation ($17.615 billion), real estate ($11.551 billion), construction ($11.471 billion), banking ($10.792 billion), and oil/gas extraction ($9.386 billion).
Compared with Q1 2025, net income before taxes rose by $1.211 billion across all industries. Net income increased by $1.870 billion for financial/insurance industries largely on gains in property/casualty and life/medical/health insurance carriers, and miscellaneous financial intermediation. Banking reported the largest drop in net income before taxes among financial industries.
Net income for non-financial industries fell by $0.659 billion. Alcoholic beverage/tobacco/cannabis manufacturing reported the largest increase, recovering from one-time expenses associated with legal settlements incurred in Q1 2025. Motor vehicle manufacturing, petroleum refineries/coal products and oil/gas extraction reported the largest declines in non-financial net income. Statistics Canada notes that profits for petroleum refineries/coal products and oil/gas extraction were affected by lower oil prices and production shutdowns.
Measured as a share of revenue, income before taxes averaged 10.4% across all industries; 23.9% for financial industries and 8.4% for non-financial industries. Income as a share of revenues was little changed for non-financial industries and up for financial industries.
Measured as a share of revenue, income before taxes was highest in miscellaneous financial intermediation (72.4% of revenues), followed by securities/exchanges/portfolio management (48.4%) and other non-depository credit intermediation (28.1%). Outside of financial industries, income before taxes as a share of revenue was highest in: real estate (34.7%), education/health/social assistance (26.4%, including daycares), oil/gas extraction (17.7%) and rentals/leasing (16.4%).
Source: Statistics Canada. Table 33-10-0226-01 Quarterly balance sheet and income statement, by industry, seasonally adjusted (x 1,000,000)
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