The New England Patriots have struggled to win games on the field over the last two seasons, but the franchise remains one of the most valuable organizations in the NFL.

Sportico released its 2025 valuation list for all 32 NFL teams on Tuesday, and the Patriots are the fourth-most valuable franchise in the league at $8.76 billion. It's the second straight year New England is in the No. 4 spot, after the Pats had a valuation of $7.31 billion in 2024.

The Dallas Cowboys remain the cream of the crop in the NFL, with a valuation of $12.8 billion in 2025. The Los Angeles Rams ($10.43 billion) and the New York Giants ($10.25 billion) sit ahead of New England, while the San Francisco 49ers ($8.6 billion) round out the Top 5.

The only change from last year's Top 10 is the defending Super Bowl champion Philadelphia Eagles jumping up two spots to No. 6 with a valuation of $8.43 billion. The New York Jets fell two spots to No. 8 with a valuation of $8.11 billion for 2025.

The Patriots are one of three teams to see a 20 percent increase in valuation from last year, along with the Kansas City Chiefs (No. 16 at $6.53 billion in 2025) and the Green Bay Packers (No. 18 at $6.48 billion). Only six teams saw their value jump more than 20 percent for 2025: The Cowboys (up 24 percent), the Rams and the Giants (both up 34 percent), the 49ers and the Eagles (up 25 percent), and the Miami Dolphins (up 22 percent).

Sportico determines its valuation as the "sum of the enterprise value of an NFL franchise combined with the value of team-related business and real estate holdings." Other factors, including practice facilities, are taken into account for teams, but "related businesses held by its owners" are excluded.

The Patriots won just four games in each of the last two seasons and haven't made the playoffs since 2021, but are hoping to get back to their winning ways in 2025 with a new head coach in place in Mike Vrabel and a slew of big-money free agent signings in the offseason. And though New England has struggled on the field, the organization remains an extremely valuable franchise in the biggest league in the country.