The Steelers' estimated value went up, but their rank among the world's 50 most valuable franchises took a tumble.
According to Forbes' annual survey, the Steelers are worth an estimated $1.118 billion, but they fell four spots to 27th.
Forbes released the survey Wednesday.
The Steelers were estimated to be worth $996 million in 2012 and $1.1 billion in 2013.
The Steelers trail AFC North rival Baltimore ($1.227 billion) but are ahead of Cleveland ($1.005 billion) and Cincinnati ($924 million).
The NFL dominated Forbes' list, with 30 of the league's 32 franchises represented. Dallas led the way at $2.3 billion (No. 5) followed by New England ($1.8 billion) at No. 8, Washington ($1.7 billion) at No. 9 and the New York Giants ($1.55 billion) at No. 10.
The only two NFL teams not represented were Jacksonville and Oakland.
Soccer giants Real Madrid ($3.44 billion), Barcelona ($3.2 billion) and Manchester United ($2.81 billion) top the list.
The Pirates and Penguins did not make the list.
Just six MLB teams are represented, and Toronto ($1.15 billion, No. 26) is the only team from the NHL.
Mark Kaboly is a staff writer for Trib Total Media. Reach him at email@example.com or via Twitter @MarkKaboly_Trib.
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