Each year, Interbrand compiles a list of the world's most valuable brands.

To calculate a brand's value, the agency combines a company's financial forecast with its proprietary "role of brand" and "brand strength" calculations from its analysts across the globe.

Together, these calculations give each brand a value number, which can be used to compare it to all of the others on the list. To qualify, brands must make sales on at least three continents, including emerging markets, and a third of their revenue must come from outside its home country.

Check out the most valuable brands here:

15. Tesla

Brand value: $4.01 billion

Change from previous year: No change

Top selling model: Model S

14. Ferrari

Brand value: $4.79 billion

Change from previous year: New to the list this year

Top selling model: Ferrari 360

13. Mini

Brand value: $5.11 billion

Change from previous year: +3%

Top selling model: 4-door

12. Harley Davidson

Brand value: $5.67 billion

Change from previous year: +3%

Top selling model: Street Glide

11. Land Rover

Brand value: $6.10 billion

Change from previous year: +7%

Top selling model: Defender

10. Porsche

Brand value: $10.13 billion

Change from previous year: +6%

Top selling model: 911

9. Volkswagen

Brand value: $11.52 billion

Change from previous year: +1%

Top selling model: Beetle

8. Nissan

Brand value: $11.53 billion

Change from previous year: +4%

Top selling model: Sentra

7. Audi

Brand value: $12.02 billion

Change from previous year: +2%

Top selling model: A4

6. Hyundai

Brand value: $13.19 billion

Change from previous year: +5%

Top selling model: Elantra

5. Ford

Brand value: $13.64 billion

Change from previous year: +5%

Top selling model: F-series trucks

4. Honda

Brand value: $22.70 billion

Change from previous year: +3%

Top selling model: Civic

3. BMW

Brand value: $41.62 billion

Change from previous year: No change

Top selling model: 3 series

2. Mercedes-Benz

Brand value: $47.83 billion

Change from previous year: +10%

Top selling model: C-class

1. Toyota

Brand value: $50.29 billion

Change from previous year: -6%

Top selling model: Corolla