Renault CEO Carlos Ghosn says the manufacturer's options over its future plans remain open but that a decision will be made within the next few months.
Renault currently acts as power unit supplier to Red Bull and Toro Rosso but this year has suggested it may take over a team or quit the sport altogether.
Renault last operated its own team between 2002 and 2009, when it headed the squad currently known as Lotus.
Ghosn says that the company has several options but that it must have a return on its investment.
"When you are a developer and seller of engines, you have the privilege to be forgotten when you win and to be highlighted when you lose," Ghosn told Reuters.
"We are not discarding anything. We can be out. We can, less likely, continue to be only an engine developer. Or we can own a team. So all the options are open. And we are analysing all the different options for the future.
"We need to try and understand where the governance of Formula 1 goes before we decide what way we want to take. The governance of racing is extremely important. It's not about who does what, that's not our issue. Our issue is we come and know exactly how much we spend and invest."
"We know how much we can be sponsored through marketing, but also there is a sharing of the TV rights which needs to be in a certain way following a more rational track where people who are investing the money and making the show can get a fair return on this investment."
"The question is 'Is it worth it?' You are engaging hundreds of engineers, putting in millions of euros and deviating a lot of your technical resources. You need a return."