We looked at the financial records of eight F1 teams - this is what we found

For any company based in the United Kingdom, the prospect of filing the annual accounts by the end of September can be a daunting one. 

Companies House does not care if you are a one-person show or a behemoth turning over hundreds of millions and employing thousands of staff; every company is treated the same. 

But fortunately for us in Formula 1 journalism circles, the returns can often paint an illuminating picture into how a team is performing off-track, and if like any good company, it is making money. 

Of the 11 F1 teams, nine of them have bases within the UK and we have been able to examine the accounts of eight of those, with only Racing Bulls missing, as the Italian parent company, whilst required to upload some documents, is not required to do so at the same time as those fully in the UK. Only Audi and Ferrari were also missing, with their true figures buried deep away in the overall wider company financials. 

It means RacingNews365 was able to look at the returns for McLaren, Mercedes, Red Bull, Williams, Aston Martin, Alpine, Haas, and Cadillac, as well as F1 itself. 

This is what we found. 

F1's 2026 financial report

Overall, the eight teams turned over a smidge over £3.2 billion GBP. This figure is calculated by adding their prize money from FOM for finishing places in the constructors' championship, and the commercial revenue they generate from their vast array of sponsors.

The highest figure was Mercedes on a staggering £633.378 million GBP, ($839.909 million USD), which, if its trend continues, could see the team smash through the $1 billion USD ceiling when its 2026 accounts drop in September 2027.

The lowest figure, aside from the Cadillac caveat, as explained after the table below, was Haas on £147.422 million - but this still represented a record for the team. 

Of the eight teams, there was an equal split between those who made a bottom-line profit after tax and other various expenses, and those who made a loss, although some losses actually stood out as an improvement as they were less severe than in the previous year.

The two most interesting teams from the accounts are those which finished the 2025 standings in first and second: McLaren and Mercedes.

Despite winning both championships on track and succesfully defending its constructors' crown, McLaren went from making a profit in 2024 of a pink and healthy £53.836 million, to a loss of £17.360, a swing of almost £70 million GBP. 

One reason for the surprising financial loss was that it repaid loans after a cash investment during COVID, when the team nearly went bust.

MSP Sports Capital invested in the team in December 2020, co-investing with UBS O'Connor LLC and the Najafi Companies, with UBS O'Connor, investment group Caspian and Ares Capital all investing a total of £179 million. 

By September 2025, the loan notes had been fully repaid with the investors acquiring the wider McLaren Group, granting full ownership. 

The Bahraini Mumtalakat sovereign wealth fund remains the majority shareholder.

On the flip side, Mercedes recorded a profit after tax of £133.143 million GBP, which is 5.5 times the £24.07 million the other three teams to record a profit did so combined.

The profit for Toto Wolff's team rose by £15.468 million, which in itself was a figure higher than Red Bull, Alpine, or Haas recorded as 2025 profit overall. 

Elsewhere, the likes of Williams and Aston Martin, whilst both still recording losses of over £25 million had reasons to be optimistic, as they posted less severe losses than in 2024, when both were in the red by over £45.7 million GBP for the year.

For F1 itself, it recorded a bottom-line profit of just under £19.5 million GBP, in a fall of around £10 million from 2024.

Check out the full results below and the article continues after the table. 

The Cadillac caveat

The submission for TWG Cadillac Formula 1 Team Limited shows that the team lost £121.9 million GBP after tax as it prepared for its debut campaign in 2026, having received formal acceptance of its place on the 2026 grid in March 2025.

This figure must be significantly caveated, however, by the fact that Cadillac was unable to generate sufficient turnover, including its commercial sponsorship arrangements, but most importantly, prize money from F1 for its performance and result in the constructors' championship.

As Cadillac did not compete in the 2025 season, its 2025 accounts are unique amongst those examined by RacingNews365, as the two major revenue streams F1 teams rely upon were not available to the squad. 

It will only be in the 2026 accounts, published on or around September 30th, 2027, that Cadillac's true turnover and bottom-line profit or loss will be known as it will have had a season of full commercial sponsorship as a fully fledged F1 team and earned prize money.

Red Bull's Horner payoff

In the Red Bull accounts, the most eye-catching declaration was what the "highest-paid director" received as "compensation for loss of office."

Whilst Christian Horner is not named as this director, he was the "highest-paid director" before his sacking in July 2025 and formal resignation from all Red Bull positions by mid-August of that year.

The filings for Red Bull Racing and Red Bull Technologies show that Horner received a nine-figure compensation pay-out of £100.482 million GBP when combined.

This figure is made up of £66.988 million from Red Bull Technologies, and £33.494 million GBP from Red Bull Racing. 

Prior to his dismissal, Horner had also earned £4.441 million in usual salary from RBR, and £9.029 million GBP from RBT for normal remuneration.