For the fourth straight year, the Toronto Maple Leafs are the NHL’s most valuable team, according to Forbes magazine’s annual survey.

The Leafs are worth $470 million, an increase of 5 percent over last year. The Rangers are second at $416 million, up 1 percent.

The Devils are 10th at $223 million. The Islanders are 28th in the 30-team league at $149 million.

The original six franchises are in the top seven, with Philadelphia at No. 5 breaking that monopoly. Montreal is third ($339 million), followed by Detroit ($337 million), Philadelphia ($273 million), Boston ($271 million) and Chicago ($258 million).

Chicago has the biggest rise in value, up 26 percent, followed by Washington at 15 percent to $183 million.

The Stanley Cup champion Pittsburgh Penguins rank 11th at $222 million.

The average value is $223 million, a slight increase over the $220 million of 2008.

The Phoenix Coyotes, with all their ownership issues, have the lowest worth, $138 million. And 14 teams — nearly half the league — went down in value, ranging from Colorado decreasing by 11 percent to Philadelphia falling 1 percent.

Toronto has, by far, the most operating income, $78.9 million, Forbes reported. Second in operating income is Montreal at $31.3 million.

The Leafs are tops in revenues, too, at $168 million, followed by the Rangers at $139 million.