Three years of sanctioned football haven’t hurt Penn State’s value, it seems.

Penn State’s football program is ranked 11th-most valuable in the country, according to a study cited in the Wall Street Journal (about which I’ll never neglect an opportunity to call total ass). In 2014, Penn State football brought in an estimated $83,288,926 and has $520,680,000 in “intrinsic values” — a measure found using fundamental analysis to ascertain the true value of a program.

The top of the list was littered with fellow Big Ten teams, and led by Ohio State at a 2014 revenue of about $93 million and intrinsic value measure of $1,127,580,000. Ohio State knocked off Texas, which had led the rankings for three straight years. Michigan (No. 2), Nebraska (10), Iowa (12), and Wisconsin (16) also find spots in the top 20. Texas, Notre Dame, and Florida round out the top five.

The NCAA came up with Penn State’s $60 million fine in 2012 because that was the estimated annual revenue of the football team. Either the NCAA was way off, or Penn State football is better than ever. With this season’s surging attendance numbers and James Franklin’s ability to sell the program, its high value is no surprise. That doesn’t mean the athletic department hasn’t had its budget issues, though. Penn State considered raising parking prices at football games to help pay for a series of loans the university needs to pay off.