But they are the most valuable franchise in the NFL. Yet again.

The Rams followed their Super Bowl victory in early 2022 with a disappointing 5-12 record last season.

But their value increased substantially, from $5.91 billion at this time last year to $6.94 billion right now, a 17% increase.

The lesson? It’s a great time to be an NFL owner — and not just Jerry Jones or Stan Kroenke.

According to Sportico’s NFL team valuations for 2023, the league’s franchises are currently worth an average of $5.14 billion, which is up 24% from last year.

The Cowboys are valued at $9.2 billion — that’s over $2 billion more than the next-highest ranking team, the New York Giants ($7.04 billion), and represents a 20% increase over the Cowboys’ league-leading valuation of $7.64 billion from 2022.

The Rams are third on the list, followed by the New England Patriots ($6.7 billion), San Francisco 49ers ($6.15 billion), Washington Commanders (who sold for $6.05 billion earlier this summer), Chicago Bears ($6 billion), Philadelphia Eagles ($5.95 billion) and Las Vegas Raiders ($5.77 billion). The Chargers are No. 18 at a value of $4.63 billion, up 28% from last year.

Two of the lowest ranked teams, the Detroit Lions (No. 30) and Cincinnati Bengals (No. 32), saw the biggest percentage increases in value — the Lions were up 43% to $4.1 billion and the Bengals 41% to $4 billion. The Raiders also saw a 41% increase in value.

One of the factors going into the total team worth is the value of team-related business and real estate held by the owners. The Rams ranked at the top of the league in this category ($890 million), followed by the Patriots ($770 million) and Cowboys ($530 million).

Sportico also ranks the Cowboys, Giants and Rams among the five most valuable sports franchises in North America, with the NBA’s Golden State Warriors ranking No. 2 at $7.56 billion and MLB’s New York Yankees No. 3 at $7.13 billion. The Lakers are No. 8 at $6.44 billion and the Dodgers are No. 16 at $5.24 billion.