Every NHL Team's Revenue Compared

What We're Showing

This graphic shows every NHL team's revenue from the 2022/23 season using data from Forbes, compiled by JP Morgan Asset Management. See data tab for details.

How the Finalists Stack Up

As the final round of the Stanley Cup Playoffs wears on, two teams on different ends of the revenue spectrum face off. Despite representing a much smaller city than the other teams at the top of the ranking, the Edmonton Oilers have the second highest revenue in the league at $281 million. The Oilers have seen the fastest revenue growth over the past five years (13%) as the team has improved.

In the 2022/23 season, the Florida Panthers pulled off a major upset in the first round of the playoffs and fought their way to the finals before losing to the Vegas Golden Knights. Despite the success last season, the Panthers still find themselves in the bottom six in this ranking, with $161 million in revenue. The team also has the second lowest operating income in the league, after Ottawa. Florida is an emerging hockey market though, with revenue increasing 9% over the past five years.

Other Key Highlights

• Along with the Oilers, the Toronto Maple Leafs sit at the top of the revenue ranking. There is a key difference though: the Maple Leafs have a higher valuation-to-revenue multiple (10x vs 6.6x).
• Professional hockey remains attractive to advertisers. In the 2022/23 season, team-specific sponsorship revenue was 36% higher than in 2018/19.
• The team with the lowest revenue, the Arizona Coyotes, will be moving to Utah next season.