Battle · 7 companies
F1 teams
Lights out and away we go: chequered flag, or stuck in the pits?
Mercedes F1 leads on turnover, pre-tax profit, profit margin and net assets; Williams Racing on growth. Mercedes F1 is the biggest by turnover at £633m, against £588m at McLaren. Mercedes F1 keeps the most of every £100 it takes, £26.60 as pre-tax profit.
The year ends are close enough to compare like for like. Williams Racing, Mercedes F1 and Red Bull Racing file group accounts that include subsidiaries; McLaren, Aston Martin F1, Alpine F1 and Haas F1 file for a single company, which flatters the groups on size.
Accounts compared: McLaren to Dec 2025 · Williams Racing to Dec 2025 · Mercedes F1 to Dec 2025 · Red Bull Racing to Dec 2025 · Aston Martin F1 to Dec 2025 · Alpine F1 to Dec 2025 · Haas F1 to Dec 2025
The Numbers
| # | Company | Turnover | Change | Pre-tax profit | Margin | Employees | Pay per head | Turnover per head | Net assets | Bank and cash | Accounts to | Basis |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Mercedes F1Mercedes-Benz Grand Prix Ltd | £633m | +0.2% | £168m | 26.6% | 1,348 | £117,000 | £470,000 | £240m | £29m | Dec 2025 | Group |
| 2 | McLarenMcLaren Racing Limited | £588m | +20.5% | -£44m | -7.5% | 1,246 | £229,000 | £472,000 | £46m | £140m | Dec 2025 | Single company |
| 3 | Red Bull RacingRed Bull Technology Limited | £524m | +6.5% | £25m | 4.9% | 1,100 | £183,000 | £476,000 | £68m | £9m | Dec 2025 | Group |
| 4 | Aston Martin F1Amr GP Limited | £344m | +22.6% | -£52m | -15.0% | 996 | £135,000 | £346,000 | -£136m | £40m | Dec 2025 | Single company |
| 5 | Alpine F1Alpine Racing Limited | £288m | +20.6% | £17m | 5.9% | 979 | £81,000 | £294,000 | £126m | £39m | Dec 2025 | Single company |
| 6 | Williams RacingWilliams Grand Prix Engineering Limited | £244m | +35.7% | -£20m | -8.1% | 1,151 | £93,000 | £212,000 | £99m | £18m | Dec 2025 | Group |
| 7 | Haas F1Haas Formula UK Ltd | £147m | +23.5% | £9m | 6.4% | 199 | £97,000 | £741,000 | £53m | £3m | Dec 2025 | Single company |
Ranked by turnover. Click any column to sort. The leader on each measure is highlighted. Movements are against each company's own prior year. Pre-tax profit is filed except where marked (est.). Haas Formula UK provides 'Formula One team support services' in the UK to its US parent, Haas Formula LLC: its turnover is the support costs it recharges to the parent, with a principal mark-up of 9%, not the team's sponsorship or prize money (accounts to 31 December 2025, p. 4).
Category winners
Biggest by turnover
Mercedes F1
£633m
Most pre-tax profit
Mercedes F1
£168m
Highest profit margin
Mercedes F1
26.6%
Fastest-growing turnover
Williams Racing
+35.7%
Biggest employer
Mercedes F1
1,348 staff
Highest pay per head
McLaren
£229,000
Most turnover per head
Haas F1
£741,000
Largest net assets
Mercedes F1
£240m
Most cash
McLaren
£140m
The Takeaway
- Mercedes F1 converts the most of its turnover. Of every £100, £26.60 reaches pre-tax profit, against a loss of £15.01 at Aston Martin F1.
- Mercedes F1 is the largest on the top line, £633m of turnover, 1.1x McLaren's £588m.
- Williams Racing is growing fastest, turnover +35.7% on its own prior year.
- Mercedes F1 is the biggest employer with 1,348 people; McLaren pays the most per head, an average staff cost of about £229,000.
- Mercedes F1 has the largest balance sheet, net assets of £240m, while McLaren holds the most cash at £140m.
Who keeps the most of every £100 of sales?
Mercedes F1 keeps the most: £26.60 of every £100 of turnover becomes pre-tax profit. Aston Martin F1 does worst, losing £15.01.
Financing bites hardest at Aston Martin F1: £9.50 of every £100 goes on interest.
Every profit figure here is the one the company filed.
The chart splits each company's turnover into £100: what goes on people, on interest and on everything else, and what is left as profit.
Out of every £100 of turnover
Each bar is £100 of that company's own turnover, so companies of any size compare on one scale; the figures are pounds out of each £100, not millions. Companies run from the best margin to the worst. Payroll is staff costs, financing is interest paid, other running costs are everything else, and profit is pre-tax profit, filed or estimated as marked in the table. A loss is not an extra cost: it is the part of the costs that runs past the £100 line, marked with a red bracket. Hover over any segment for its figure.
Who is the biggest, and does the comparison hold?
By turnover the order is Mercedes F1 (£633m), McLaren (£588m), Red Bull Racing (£524m), Aston Martin F1 (£344m), Alpine F1 (£288m), Williams Racing (£244m), Haas F1 (£147m).
By headcount, Mercedes F1 leads with 1,348 employees.
The accounting periods all end in the same month. The bases differ: group accounts include the businesses a company owns, single-company accounts do not.
Turnover on the latest filing
Who is growing fastest?
Williams Racing grew fastest, turnover +35.7% on its own prior year, ahead of Haas F1 (+23.5%), Aston Martin F1 (+22.6%), Alpine F1 (+20.6%), McLaren (+20.5%), Red Bull Racing (+6.5%), Mercedes F1 (+0.2%).
Turnover change on each company's own prior year
Who employs the most, who pays the most, and who brings in the most per head?
Mercedes F1 employs the most, 1,348 people, against 1,246 at McLaren.
McLaren has the highest average staff cost, about £229,000 a head; Alpine F1 the lowest, about £81,000.
Haas F1 brings in the most turnover per employee, about £741,000, against £212,000 at Williams Racing. It says as much about the business model as the workforce: a marketplace or a wholesaler needs far fewer people per pound than a restaurant or a gym.
McLaren
1,246
employees, about £229,000 pay a head, £472,000 turnover a head, +11.0% on the year
Williams Racing
1,151
employees, about £93,000 pay a head, £212,000 turnover a head, +21.3% on the year
Mercedes F1
1,348
employees, about £117,000 pay a head, £470,000 turnover a head, +1.9% on the year
Red Bull Racing
1,100
employees, about £183,000 pay a head, £476,000 turnover a head, +13.5% on the year
Aston Martin F1
996
employees, about £135,000 pay a head, £346,000 turnover a head, +17.9% on the year
Alpine F1
979
employees, about £81,000 pay a head, £294,000 turnover a head, -1.6% on the year
Haas F1
199
employees, about £97,000 pay a head, £741,000 turnover a head, +27.6% on the year
Who owns each one?
Ownership as recorded on the Companies House register of people with significant control, in the bands the register uses.
Held by Mclaren Group Limited
A company recorded as a person with significant control.
Who owns McLaren →
Williams Grand Prix Engineering Limited · 01297497No controller recorded
The register shows no person with significant control. 1 outstanding charge on the register.
Who owns Williams Racing →
Mercedes-Benz Grand Prix Ltd · 00787446Held by Mercedes-Benz Holdings Uk Limited
A company recorded as a person with significant control.
Who owns Mercedes F1 →
Red Bull Technology Limited · 05202976Held by Mark Mateschitz
An individual recorded as a person with significant control.
Who owns Red Bull Racing →
Amr GP Limited · 11496673Held by Amr Performance Group Limited
A company recorded as a person with significant control. 1 outstanding charge on the register.
Who owns Aston Martin F1 →
Alpine Racing Limited · 01806337Held by Grigny (Uk) Limited
A company recorded as a person with significant control. 1 outstanding charge on the register.
Who owns Alpine F1 →
Haas Formula UK Ltd · 09152405Held by Mr Gene Francis Haas
An individual recorded as a person with significant control.
Who owns Haas F1 →
What does the full ledger show?
| Measure | McLaren | Williams Racing | Mercedes F1 | Red Bull Racing | Aston Martin F1 | Alpine F1 | Haas F1 |
|---|---|---|---|---|---|---|---|
| Registered name | MCLAREN RACING LIMITED | WILLIAMS GRAND PRIX ENGINEERING LIMITED | MERCEDES-BENZ GRAND PRIX LTD | RED BULL TECHNOLOGY LIMITED | AMR GP LIMITED | ALPINE RACING LIMITED | HAAS FORMULA UK LTD |
| Company number | 01517478 | 01297497 | 00787446 | 05202976 | 11496673 | 01806337 | 09152405 |
| Incorporated | 1980 | 1977 | 1964 | 2004 | 2018 | 1984 | 2014 |
| Accounts filed | 30 September 2026 | 22 September 2026 | 7 June 2026 | 5 October 2026 | 25 September 2026 | 29 September 2026 | 1 October 2026 |
| Turnover, prior year | £488m | £180m | £632m | £492m | £281m | £239m | £119m |
| Pre-tax profit, prior year | £34m | -£42m | £158m | £19m | -£40m | -£10m | £8m |
| Staff costs | £286m | £107m | £158m | £201m | £134m | £79m | £19m |
| Payroll share of turnover | 48.5% | 44.0% | 24.9% | 38.4% | 39.0% | 27.5% | 13.1% |
| Employees, prior year | 1,123 | 949 | 1,323 | 969 | 845 | 995 | 156 |
| Dividends paid | n/d | n/d | £125m | n/d | n/d | n/d | n/d |
| Charges outstanding | 0 | 1 | 0 | 0 | 1 | 1 | 0 |
A figure the filing does not disclose is shown as n/d; a zero in a filing is treated as not disclosed. Rounding: below £0.1m in thousands, £0.1m to £2m to one decimal place, above that to the nearest million.
F1 teams: common questions
Who is the biggest of McLaren, Williams Racing, Mercedes F1, Red Bull Racing, Aston Martin F1, Alpine F1 or Haas F1?
Mercedes F1, with turnover of £633m in the year to December 2025.
Which makes the most profit?
Mercedes F1: £168m pre-tax in the year to December 2025.
Which employs the most people?
Mercedes F1, with 1,348 employees in its latest accounts.
McLaren or Williams Racing: which is bigger?
McLaren, with turnover of £588m against £244m at Williams Racing on their latest filings. On margin, McLaren keeps more of each £100 as pre-tax profit. The full head to head is in the VS Series. Read the VS page →
McLaren or Mercedes F1: which is bigger?
Mercedes F1, with turnover of £633m against £588m at McLaren on their latest filings. On margin, Mercedes F1 keeps more of each £100 as pre-tax profit.
McLaren or Red Bull Racing: which is bigger?
McLaren, with turnover of £588m against £524m at Red Bull Racing on their latest filings. On margin, Red Bull Racing keeps more of each £100 as pre-tax profit.
McLaren or Aston Martin F1: which is bigger?
McLaren, with turnover of £588m against £344m at Aston Martin F1 on their latest filings. On margin, McLaren keeps more of each £100 as pre-tax profit.
McLaren or Alpine F1: which is bigger?
McLaren, with turnover of £588m against £288m at Alpine F1 on their latest filings. On margin, Alpine F1 keeps more of each £100 as pre-tax profit.
McLaren or Haas F1: which is bigger?
McLaren, with turnover of £588m against £147m at Haas F1 on their latest filings. On margin, Haas F1 keeps more of each £100 as pre-tax profit.
Williams Racing or Mercedes F1: which is bigger?
Mercedes F1, with turnover of £633m against £244m at Williams Racing on their latest filings. On margin, Mercedes F1 keeps more of each £100 as pre-tax profit.
Williams Racing or Red Bull Racing: which is bigger?
Red Bull Racing, with turnover of £524m against £244m at Williams Racing on their latest filings. On margin, Red Bull Racing keeps more of each £100 as pre-tax profit.
Williams Racing or Aston Martin F1: which is bigger?
Aston Martin F1, with turnover of £344m against £244m at Williams Racing on their latest filings. On margin, Williams Racing keeps more of each £100 as pre-tax profit.
Williams Racing or Alpine F1: which is bigger?
Alpine F1, with turnover of £288m against £244m at Williams Racing on their latest filings. On margin, Alpine F1 keeps more of each £100 as pre-tax profit.
Williams Racing or Haas F1: which is bigger?
Williams Racing, with turnover of £244m against £147m at Haas F1 on their latest filings. On margin, Haas F1 keeps more of each £100 as pre-tax profit.
Mercedes F1 or Red Bull Racing: which is bigger?
Mercedes F1, with turnover of £633m against £524m at Red Bull Racing on their latest filings. On margin, Mercedes F1 keeps more of each £100 as pre-tax profit. The full head to head is in the VS Series. Read the VS page →
Mercedes F1 or Aston Martin F1: which is bigger?
Mercedes F1, with turnover of £633m against £344m at Aston Martin F1 on their latest filings. On margin, Mercedes F1 keeps more of each £100 as pre-tax profit.
Mercedes F1 or Alpine F1: which is bigger?
Mercedes F1, with turnover of £633m against £288m at Alpine F1 on their latest filings. On margin, Mercedes F1 keeps more of each £100 as pre-tax profit.
Mercedes F1 or Haas F1: which is bigger?
Mercedes F1, with turnover of £633m against £147m at Haas F1 on their latest filings. On margin, Mercedes F1 keeps more of each £100 as pre-tax profit.
Red Bull Racing or Aston Martin F1: which is bigger?
Red Bull Racing, with turnover of £524m against £344m at Aston Martin F1 on their latest filings. On margin, Red Bull Racing keeps more of each £100 as pre-tax profit.
Red Bull Racing or Alpine F1: which is bigger?
Red Bull Racing, with turnover of £524m against £288m at Alpine F1 on their latest filings. On margin, Alpine F1 keeps more of each £100 as pre-tax profit.
Red Bull Racing or Haas F1: which is bigger?
Red Bull Racing, with turnover of £524m against £147m at Haas F1 on their latest filings. On margin, Haas F1 keeps more of each £100 as pre-tax profit.
Aston Martin F1 or Alpine F1: which is bigger?
Aston Martin F1, with turnover of £344m against £288m at Alpine F1 on their latest filings. On margin, Alpine F1 keeps more of each £100 as pre-tax profit.
Aston Martin F1 or Haas F1: which is bigger?
Aston Martin F1, with turnover of £344m against £147m at Haas F1 on their latest filings. On margin, Haas F1 keeps more of each £100 as pre-tax profit.
Alpine F1 or Haas F1: which is bigger?
Alpine F1, with turnover of £288m against £147m at Haas F1 on their latest filings. On margin, Haas F1 keeps more of each £100 as pre-tax profit.
Where do these figures come from?
Each company's latest accounts filed at Companies House. Each links to its full Spark Intel profile, which names the filing it comes from.
Deep dive: what story does McLaren's money tell? →
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