While the order may vary, Toto Wolff expects the three teams which raced clear of their rivals last year to fight for supremacy again in 2018.
It's early days still, but so far there isn't much to suggest there will be a disruption among the frontrunners this season, with Mercedes, Ferrari and Red Bull emerging as the fastest teams in pre-season testing.
Wolff is steering clear of guessing a pecking order, although early indications have given the Mercedes boss an idea of the leading trio's relative performance.
"We have a worst case and a best case," Wolff told Sky Sports.
"What we have seen is that even if it is best case we are not in front by a lot, and if it is a worst case we are not far behind."
Mercedes knows the Scuderia will likely hit the ground running in Melbourne. But Red Bull's early form suggests a three-way battle from the outset in Australia, rather than a duo of contenders joined later on by the Milton Keynes-based outfit.
"What we have seen from Red Bull is that they have a very strong package," Wolff said.
"I think will be very much in the game for race wins and the championship itself. I think it will be all three of us against each other.
"Honestly, l am excited by the prospect of a tough battle," he said.