VS Series
Mercedes F1 v Red Bull Racing
The two teams that owned an era of Formula 1, on the balance sheet
Mercedes F1 leads on 4 of the five measures that matter most: turnover, pre-tax profit, profit margin, growth and net assets. Mercedes F1 is the biggest by turnover at £633m, against £492m at Red Bull Racing. Mercedes F1 keeps more of every £100 it takes, £26.60 as pre-tax profit.
The year ends are up to 12 months apart, so this compares each company's most recent filing rather than the same twelve months.
Accounts compared: Mercedes F1 to Dec 2025 · Red Bull Racing to Dec 2024
Who they are
Mercedes F1
Mercedes-Benz Grand Prix Ltd · 00787446Mercedes-Benz Grand Prix Ltd runs the Mercedes-AMG Petronas Formula One team, designing and building its race cars at Brackley in Northamptonshire.In brief: Formula One team · based in Brackley · sponsorship and prize money · Mercedes-Benz, Wolff and INEOS ownershipFull profile →Red Bull Racing
Red Bull Technology Limited · 05202976Red Bull Technology is the Milton Keynes engineering company that designs and builds the cars raced by the Red Bull Racing Formula One team.In brief: Formula One · car design and engineering · Milton Keynes · owned by Red BullFull profile →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 | Red Bull RacingRed Bull Technology Limited | £492m | +10.2% | £19m | 4.0% | 969 | £131,000 | £507,000 | £50m | £2m | Dec 2024 | Group |
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.).
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
Red Bull Racing
+10.2%
Biggest employer
Mercedes F1
1,348 staff
Highest pay per head
Red Bull Racing
£131,000
Most turnover per head
Red Bull Racing
£507,000
Largest net assets
Mercedes F1
£240m
Most cash
Mercedes F1
£29m
The Takeaway
- Mercedes F1 converts the most of its turnover. Of every £100, £26.60 reaches pre-tax profit, against £3.96 at Red Bull Racing.
- Mercedes F1 is the largest on the top line, £633m of turnover, 1.3x Red Bull Racing's £492m.
- Red Bull Racing is growing fastest, turnover +10.2% on its own prior year.
- Mercedes F1 is the biggest employer with 1,348 people; Red Bull Racing pays the most per head, an average staff cost of about £131,000.
- Mercedes F1 has the largest balance sheet, net assets of £240m.
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. Red Bull Racing keeps the least, £3.96.
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 column 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), Red Bull Racing (£492m).
By headcount, Mercedes F1 leads with 1,348 employees.
The comparison holds with the dates stated plainly: Mercedes F1 to Dec 2025, Red Bull Racing to Dec 2024. All are on the same filing basis.
Turnover on the latest filing
Who is growing fastest?
Red Bull Racing grew fastest, turnover +10.2% on its own prior year, ahead of 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 969 at Red Bull Racing.
Red Bull Racing has the highest average staff cost, about £131,000 a head; Mercedes F1 the lowest, about £117,000.
Red Bull Racing brings in the most turnover per employee, about £507,000, against £470,000 at Mercedes F1. 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.
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 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 →
What does the full ledger show?
| Measure | Mercedes F1 | Red Bull Racing |
|---|---|---|
| Registered name | MERCEDES-BENZ GRAND PRIX LTD | RED BULL TECHNOLOGY LIMITED |
| Company number | 00787446 | 05202976 |
| Incorporated | 1964 | 2004 |
| Accounts filed | 7 June 2026 | 23 September 2025 |
| Turnover, prior year | £632m | £446m |
| Pre-tax profit, prior year | £158m | £17m |
| Staff costs | £158m | £127m |
| Payroll share of turnover | 24.9% | 25.8% |
| Employees, prior year | 1,323 | 787 |
| Dividends paid | £125m | n/d |
| Charges outstanding | 0 | 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.
Mercedes F1 v Red Bull Racing: common questions
Who is the biggest of Mercedes F1 or Red Bull Racing?
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.
Mercedes F1 or Red Bull Racing: which is bigger?
Mercedes F1, with turnover of £633m against £492m 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 →
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.
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