The Islanders are worth $385 million, according to Forbes’ annual list of NHL valuations, up 18 percent from last year’s estimate but $100 million less than the valuation in the sale agreement that made Jon Ledecky and Scott Malkin co-majority owners effective last summer.

Forbes ranked the Islanders 18th among the 30 NHL teams in value, and reported that they had $114 million in revenue and $2.7 million in operating income last season.

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Entering Wednesday night’s games, the Islanders ranked 29th in the NHL in average home attendance, 12,340.

Forbes estimated the Rangers’ value at $1.25 billion, thanks in part to an NHL-high $219 million in revenue, and $74.5 million in operating revenue.

It was the second year in a row the Rangers topped Forbes’ list after taking the top spot in 2015 for the first time since 2004.

The Maple Leafs ($1.12 billion) and Canadiens ($1.1 billion) were the only other teams to top the $1-billion mark.