Formula 1’s business side has never looked stronger. Revenue climbed to $5.6 billion in 2025, roughly double what the sport brought in back in 2018, and the upward trend doesn’t appear to be slowing. 

A lot of that comes down to sharper leadership at the top, but the sport itself has fundamentally changed over the last ten years. Leaning into entertainment, helped along by shows like Drive to Survive, has pulled in a wave of new viewers and turned drivers into household names far beyond racing circles. 

That rising interest has fed directly into F1’s expansion. There are more races on the calendar than ever before, and weekends now stretch further with additions like sprint races, all of which keep the revenue flowing in. 

That growth has also made joining the sport far more expensive than it used to be. With franchise values now stretching from just over a billion into the billions, here’s a look at the five most valuable teams on the current grid, according to Esquire, written by Cayle Reid. 

5. Aston Martin — $3.18 billion 

Lawrence Stroll acquired the Force India and made it into an Aston Martin operation in 2018 for around $182 million. Today it’s worth more than 17 times that amount, turning what looked like a modest buy-in into one of the sharpest returns in the paddock, even without a championship yet to justify it. 

4. McLaren — $4.07 billion 

McLaren snapped a 26-year constructors’ title drought in 2024 and backed it up with another championship in 2025, while Lando Norris ended a separate 17-year wait for a drivers’ crown around the same period. 

Even with back-to-back titles, the team’s valuation still trails what that run of form might suggest, a reminder that on-track success doesn’t always translate into paddock worth right away. 

3. Red Bull — $5.38 billion 

Red Bull only joined the grid in 2005, yet it’s already built one of the most successful eras in modern F1, with eight drivers’ titles split between Sebastian Vettel and Max Verstappen. 

McLaren and Mercedes’ recent surge has eaten into that dominance somewhat, which carries real weight for a team whose worth is closely tied to how often it wins. 

2. Mercedes — $6.06 billion 

Much of Mercedes’ valuation still traces back to its remarkable run through the 2010s, seven consecutive drivers’ titles and eight straight constructors’ crowns. 

The team has since turned things around and currently leads both the drivers’ and constructors’ championships, a resurgence that keeps its value firmly near the top of the grid. 

1. Ferrari — $7.35 billion 

Ferrari tops the list despite a rough run on track. The team finished fourth in the 2025 constructors’ standings without a single race win, and it’s been nearly two decades since Kimi Räikkönen delivered its last drivers’ title in 2007. 

What keeps Ferrari’s valuation ahead of everyone else is history rather than current form: as the most decorated constructor the sport has ever seen, having fielded icons like Schumacher, Alonso, Vettel, Lauda, and now Hamilton, the brand still carries more weight than any other name on the grid.

Taken together, the list shows valuation doesn’t always track with recent results; legacy and brand power still carry serious weight in F1’s business. As revenue keeps climbing, expect these numbers to keep moving too.