The average valuation of a Formula 1 team has soared 44% to $2.31 billion in 2024, with every team now worth over $1 billion, according to new rankings by Sportico.
Ferrari leads the pack with a valuation of $4.78 billion, followed by Mercedes at $3.94 billion and Red Bull at $3.5 billion. McLaren and Aston Martin round out the top five at $2.65 billion and $2.07 billion, respectively. Aston Martin's rise reflects the investment it received in September, which valued the team between $2 billion and $2.6 billion.
Meanwhile, Alpine, despite being a full works manufacturer, is valued at $1.5 billion and sits in the lower half of the rankings. Williams, RB, Sauber, and Haas bring up the rear, with valuations ranging from $1.02 billion to $1.24 billion.
Formula 1 teams collectively generated an average revenue of $376.2 million in 2023, with all but two—Aston Martin and Williams—reporting operating profits. Aston Martin saw the largest year-over-year valuation increase at 82%, while RB experienced the smallest gain at 35%.
The dramatic rise in valuations underscores Formula 1's continued commercial success, driven in part by the effectiveness of the budget cap introduced in 2021. The cap has enhanced financial stability across the grid, allowing teams to grow sustainably while maintaining competitiveness.