On June 6, 2026, Companies House posted the Mercedes-Benz F1 2025 results. Operating profit reached £167 million ($223 million), the highest ever recorded by a Formula One team, surpassing the previous record of £156 million that Mercedes set a year earlier. Revenue was £633 million, flat from 2024, while operating margin expanded to 26.4%. Mercedes paid 25% higher wages following a second-place Constructors’ Championship finish, replaced Lewis Hamilton with a 19 year old driver from its junior programme, and proposed a £120 million dividend, equal to 72% of operating profit.
These numbers raise an obvious question. How does a team that did not win the championship become the most profitable team in Formula One history? Revenue barely moved. The sport’s biggest star left. The last drivers’ championship came in 2021. Yet profits hit a record, it reached £6 Billion in valuation and the business continues to attract investors.
The Financials
Mercedes has now set the F1 profitability record three years in a row. Operating profit rose from £113.8 million on revenue of £546.5 million in 2023, to £160.6 million on revenue of £636 million in 2024, and then to £167 million on revenue of £633 million in 2025.
Revenue jumped 16% between 2023 and 2024 but was largely unchanged in 2025. Yet profit continued to grow and margins improved in both years.