The San Francisco Giants increased their value by $100 million over the last year and remain the fifth-most valuable franchise among the 30 Major League Baseball franchises.

At a $3.1 billion valuation, the San Francisco Giants, winners of three World Series since 2010, remained fifth overall of 30 Major League Baseball teams in overall value, according to Forbes.

The New York Yankees ($5 billion), Los Angeles Dodgers ($3.4 billion), and Boston Red Sox ($3.3 billion) are the top three in terms of value, and each of those three franchises has one of the top five highest local media revenues.

Meanwhile, the Chicago Cubs ($3.2 billion, fourth-most valuable franchise) and Giants are not found in the top five highest local media revenue list. The Miami Marlins ($980 million), the least valuable franchise, are the only MLB team with a valuation below $1 billion.

The Giants have the second-highest operating income at $96 million, with the Houston Astros (11th-most valuable franchise) having the highest operating income at $99 million. San Francisco has the fifth-highest overall revenue at $452 million. The Yankees also top the revenue list at $683 million.

Another reason why the Giants have one of the highest valuations in the league is their low debt-to-value ratio. Forbes’ data has the Giants, Yankees, Red Sox, Angels, and Blue Jays all having a zero percent debt-to-value ratio.

In terms of the MLB franchises that increased the most value over the last season, the Giants are in the middle of the pack. San Francisco, along with the Dodgers, Red Sox, Cubs, and White Sox, increased in value by three percent over the last year.

Meanwhile, the Baltimore Orioles, Washington Nationals, and Yankees all increased by nine percent and were the highest among the teams in terms of one-year value change.

San Francisco Baseball Associates LLC has run a strong ballclub, and Oracle Park is consistently one of the best ballparks in all of baseball. The Giants’ valuation may be high, but the team missed the postseason three straight years and lost almost 450,000 fans from 2018 to 2019.

However, the Giants’ strong farm system could help them make a strong push for the 2020 playoffs. The glimmer of hope for San Francisco this upcoming season comes from Mike Yastrzemski, as he is expected to be the team’s best hitter and MVP.

In addition, the trio of Jeff Samardzija, Johnny Cueto, and new Giants pitcher Kevin Gausman will be vying for the best San Francisco pitcher this season.