Sure, their record, attendance and TV ratings all headed in the wrong direction last season, but the Yankees still rule in at least one area:

For the 20th consecutive year, Forbes rated the franchise the most valuable in Major League Baseball in its annual list of team valuations released on Tuesday. The list debuted in 1998, so the Yankees have topped all of them.

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The magazine estimated the Yankees are worth $3.7 billion, more than double the major league average of $1.54 billion, which itself is 19 percent higher than one year ago.

The Yankees generate more than $526 million in revenue (after revenue sharing), more than any other team, according to Forbes, with an operating income of $39 million.

The Mets ranked sixth on the list — after the Dodgers, Red Sox, Cubs and Giants — at an estimated value of $2 billion, with revenue of $332 million and operating income of $31.7 million.

The Yankees’ estimated value was up 9 percent over last year, and the Mets were up 21 percent.

The Rays ranked 30th and last in estimated value at $825 million.