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November 25, 2024CANADA FINANCIAL STATISTICS FOR ENTERPRISES, Q3 2024 In Q3 2024, Canadian enterprise net income before taxes (seasonally adjusted) was $157.387 billion. All broad industry categories except central credit unions and motor vehicle manufacturing reported positive income before taxes in Q3 2024 . The largest values of net income before taxes were reported in miscellaneous financial intermediation ($15.409 billion), real estate ($13.244 billion), banking ($11.573 billion), construction ($10.060 billion), oil/gas extraction ($8.471 billion) and securities/exchanges/portfolio management ($8.146 billion).
Compared with Q2 2024, net income before taxes declined by $4.095 billion across all industries. Net income shrank by $2.601 billion for financial/insurance industries. Net income for non-financial industries fell by $1.494 billion. Telecommunications, property/casualty insurance carriers and mining reported the largest declines in net income before taxes. Oil and gas extraction reported the largest gain in net income before taxes at $0.861 billion.
Measured as a share of revenue, income before taxes averaged 10.3% across all industries; 21.1% for financial industries and 8.5% for non-financial industries. Income as a share of revenues was down for both non-financial industries and financial industries.
Measured as a share of revenue, income before taxes was highest in miscellaneous financial intermediation (75.2% of revenues), followed by securities/exchanges/portfolio management (50.1%) and other non-depository credit intermediation (40.0%). Outside of financial industries, income before taxes as a share of revenue was highest in: real estate (41.5%), education/health/social assistance (28.2%, including daycares) and rentals/leasing (17.8%).
Source: Statistics Canada. Table 33-10-0226-01 Quarterly balance sheet and income statement, by industry, seasonally adjusted (x 1,000,000)