McLaren Automotive vs Toyota: Revenue, Profit and Business Model
McLaren Automotive had ~$615M of annual revenue in FY2023. Toyota had ~$339.6B of annual revenue in FY2026 and ~$25.8B of net income.
Latest financial snapshot
McLaren Automotive
- Latest annual revenue
- ~$615M (FY2023)
- Net income
- Unavailable here
- Net margin
- —
- Revenue growth
- -11.4% a year, FY2021–FY2023
Toyota
- Latest annual revenue
- ~$339.6B (FY2026)
- Net income
- ~$25.8B
- Net margin
- 7.6%
- Revenue growth
- +6.0% a year, FY2016–FY2026
Financial summary
McLaren Automotive
McLaren has struggled to fund new models from its own cash. The 2020 pandemic forced job cuts, a ~$224 million (£170 million) sale-and-leaseback of the Woking campus and fresh shareholder funding. In 2023 revenue fell 25.8% to ~$615 million (£465.9 million) as deliveries dropped, and the holding company booked a record loss that included a ~$495 million (£375 million) impairment. Mumtalakat kept the business funded until CYVN Holdings took over in April 2025; CYVN has not published standalone McLaren Automotive figures since.
Toyota
Toyota's fiscal 2026 showed record revenue alongside sharply lower profit. Sales revenues reached ~$340 billion (¥50.68 trillion) while operating margin narrowed to about 7.4% from 10.0% a year earlier, mostly because of roughly $9.25 billion (¥1.38 trillion) in U.S. tariff costs. North America swung to a much weaker profit, Japan remained the largest profit contributor, and financial services kept growing. For fiscal 2027, Toyota's August 2026 forecast calls for ~$362 billion (¥54.0 trillion) in revenue, ~$22.8 billion (¥3.4 trillion) in operating income and ~$21.8 billion (¥3.25 trillion) in net income, assuming 160 yen per dollar. Toyota is consistently the top-selling automaker globally and sustains a massive market valuation often exceeding $300 billion.
Revenue and profit by year
McLaren Automotive
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2023 | ~$615M | — | — | -25.8% | Source |
| FY2022 | ~$828.7M | — | — | +5.7% | Source |
| FY2021 | ~$783.7M | — | — | — | Source |
Toyota
| Year | Revenue | Net income | Margin | Growth | Source |
|---|---|---|---|---|---|
| FY2026 | ~$339.6B | ~$25.8B | 7.6% | +5.5% | Source |
| FY2025 | ~$321.8B | ~$31.9B | 9.9% | +6.5% | Source |
| FY2024 | ~$302.1B | ~$33.1B | 11.0% | +21.4% | Source |
| FY2023 | ~$248.9B | ~$16.4B | 6.6% | +18.4% | Source |
| FY2022 | ~$210.2B | ~$19.1B | 9.1% | +15.3% | Source |
| FY2021 | ~$182.3B | ~$15B | 8.3% | -9.1% | Source |
| FY2020 | ~$200.5B | ~$13.9B | 6.9% | -1.0% | Source |
| FY2019 | ~$202.5B | ~$12.6B | 6.2% | +2.9% | Source |
| FY2018 | ~$196.8B | ~$16.7B | 8.5% | +6.5% | Source |
| FY2017 | ~$184.9B | ~$12.3B | 6.6% | -2.8% | Source |
| FY2016 | ~$190.3B | ~$15.5B | 8.1% | — | Source |
Where the revenue comes from
McLaren Automotive
- Series supercars (Artura, 750S, GTS)
Not disclosed
Most of McLaren's unit volume, sold through franchised retailers worldwide.
- Ultimate Series hypercars (W1 and limited editions)
Not disclosed
Small runs at multi-million-dollar prices, such as the 399-unit W1.
- MSO personalisation, racing, parts and service
Not disclosed
Bespoke options, customer GT3/GT4 cars, servicing and heritage work.
Toyota
- Automotive~89%
Toyota, Lexus, Daihatsu and Hino vehicles, plus parts and service
- Financial services~9%
Retail loans, leases and dealer financing
- All other~2%
Housing-related, telecommunications and other businesses
Business model and strategy
McLaren Automotive
How it makes money
McLaren sells hand-assembled cars through a franchised retailer network. Series models (Artura, 750S and the GTS grand tourer) provide most of the volume, while Ultimate Series hypercars such as the 399-unit W1 are sold in small numbers at multi-million-dollar prices. Bespoke options from McLaren Special Operations (MSO), customer GT racing cars, servicing and parts add further income.
Growth strategy
Growth now rests on the CYVN merger. Combining McLaren with Forseven gives McLaren access to more engineers and capital for electrified and multi-seat models, while the McLaren Licensing business aims to earn more from the brand. Earlier, Michael Leiters (CEO 2022-2025) focused on fixing Artura quality problems and stabilising production.
Competitive advantage
Every McLaren road car since the 2011 MP4-12C has used a carbon-fibre tub, a technique the company brought to Formula 1 with the 1981 MP4/1. Tubs for current cars are made at its composites plant in Sheffield, which gives McLaren lighter, stiffer cars than many aluminium-chassis rivals and a clear engineering story linked to its F1 team.
Toyota
How it makes money
Toyota makes most of its money building and selling vehicles under the Toyota and Lexus brands (plus Daihatsu and Hino), led by high-volume models such as the RAV4, Corolla, Camry and Hilux. A large financial services arm earns interest and lease income on loans and leases to Toyota buyers and dealers, and parts, service and other value-chain businesses add recurring revenue from the installed base of vehicles.
Growth strategy
Toyota's strategy centers on hybrid leadership, battery EV scaling, software improvement, localized manufacturing, Lexus and truck/SUV profitability, financial services, and disciplined capital allocation.
Competitive advantage
Toyota's advantage is manufacturing discipline, hybrid technology, global supplier relationships, brand trust, reliability, and scale. Those strengths are durable, but they must be paired with faster software and EV execution.
Questions about McLaren Automotive vs Toyota
Which company has higher revenue — McLaren Automotive or Toyota Motor Corporation?
McLaren Automotive had ~$615M (FY2023), while Toyota Motor Corporation had ~$339.6B (FY2026). By latest annual revenue, Toyota Motor Corporation is the larger business, with McLaren Automotive showing a smaller revenue base. Note: these are from different fiscal years and are not a direct like-for-like comparison.
What is the market cap of McLaren Automotive vs Toyota Motor Corporation?
Toyota Motor Corporation has a market capitalisation of $258.0B. A public market cap figure for McLaren Automotive was not available (it may be privately held).
How does revenue per employee compare for McLaren Automotive and Toyota Motor Corporation?
Toyota Motor Corporation generates $905k / employee in revenue per employee. A comparable figure for McLaren Automotive requires matching employee and revenue data from the same reporting period.
How do McLaren Automotive and Toyota Motor Corporation make money?
McLaren Automotive and Toyota Motor Corporation generate revenue in fundamentally different ways. McLaren Automotive: McLaren sells hand-assembled cars through a franchised retailer network. Toyota Motor Corporation: Toyota makes most of its money building and selling vehicles under the Toyota and Lexus brands (plus Daihatsu and Hino), led by high-volume models such as the RAV4, Corolla, Camry and Hilux.
Is McLaren Automotive bigger than Toyota Motor Corporation?
By last reported revenue, Toyota Motor Corporation (~$339.6B (FY2026)) is the larger company compared to McLaren Automotive (~$615M (FY2023)). Revenue scale is one dimension of size — market capitalisation, employee count, and geographic reach are also relevant depending on the context.
Figures come from each company's filings and the sources linked beside them. Amounts reported in another currency are shown in US dollars at an approximate rate and marked with ~. Back to the McLaren Automotive vs Toyota overview