Mercedes Is Winning the Financial Championship While Losing the Sporting One — And It Doesn’t Seem to Mind
£633 million in turnover, the highest of any team and higher than Formula 1 itself. Second place in the standings apparently doesn’t dent the balance sheet — and next year, with a better finish, the numbers get even more impressive.
The annual financial filings from Formula 1’s British-based teams rarely surprise anyone following the sport closely — but this year’s from Mercedes-Benz Grand Prix Limited rewards a closer read, because the numbers tell a different story than the track does.
The numbers
Mercedes’ 2025 turnover reached £633.378 million — the highest of the eight teams whose accounts were reviewed, and higher even than Formula 1’s own turnover as an organisation. In dollar terms that’s roughly $846 million, putting the team on course to cross the $1 billion mark when its 2026 accounts are filed in September 2027. Gross profit rose to £209.841 million from £182.744 million the year before, and profit after tax climbed to £133.143 million.
The context that makes the numbers interesting
Mercedes finished fourth in the Constructors’ Championship in 2024 and second in 2025, behind McLaren. A better finishing position means a bigger share of Formula 1’s prize pool — an effect that will only show up in full in the 2026 accounts. In other words: the financial numbers are still catching up to the sporting result, not the other way round. McLaren, by comparison, posted the second-highest turnover (£588.483 million) but closed the year with a loss of £17.360 million — proof that turnover and profit don’t automatically travel together, even for a champion.
What this actually shows
Mercedes hasn’t won a title in years, yet its financial filing reads like a team that wins everything. That’s not a contradiction — it’s the actual logic of modern Formula 1: sponsorship deals, commercial rights and brand equity built up over a decade of dominance don’t evaporate after one or two quieter seasons on track. The open question is how long that financial momentum can outrun the absence of sporting results before sponsors start asking the same question the fans already are.
Based on reporting by RacingNews365.
