NHL Power Rankings: Best bang for the buck on all 32 teams

April is tax season, the month that sends you rifling through the filing cabinet in search of old receipts that back up your write-offs.

For a little while, we all turn into bean counters — unless you’re lucky enough to have a retired relative who’s happy to tackle T4s simply to fill the time.

Of course, dollars and cents have long been a huge concern in the NHL, especially since the salary cap came into play — gulp — 20 years ago. And even in this post-COVID boom — where the cap is set to take significant leaps year over year — spreadsheets will continue to be a huge part of front-office life, as general managers look to maximize value and get the most bang for their (owner’s) buck.

With that in mind — and with a huge stick tap to the always-awesome site Puck Pedia — we’re devoting this week’s edition of the Power Rankings to identifying a contract or two for all 32 squads that represents tremendous value for the club. 

Before we get going, a couple of quick accounting notes: We won’t consider any entry-level contracts here since there’s a very different ceiling on what players can make on those first deals as opposed to the standard contracts they ink for the rest of their career. Also, we’re using this year’s cap hit — not any sense of how a contract will age or what a player might be due on his next deal — as the sole factor in our determinations here. 

1. Colorado Avalanche (49-15-10) Martin Necas is in the final games of a two-year contract that counts for just $6.5 million against the cap, and he’s tied for seventh in NHL scoring with 92 points. Next year, he starts an eight-year deal with an AVV of $11.5 million, and, yeah, he’ll still be worth every penny once his hit essentially doubles. 

Really, the Avs are loaded with value contracts. Scott Wedgewood is giving the Colorado .916 goaltending for $1.5 million against the cap; breakout defenceman Sam Malinski is on pace for 47 points on an AAV of $1.4 million (until a new extension kicks in next year); veteran Brent Burns is playing nearly 19 minutes per night for $1 million and Parker Kelly has put up 19 goals for just $875,000.

2. Buffalo Sabres (46-21-8) Alex Tuch’s payday is coming this summer, but right now he’s a 30-goal guy making just $4.75 million against the cap. That’s the exact same cap figure as Ukko-Pekka Luukkonen, whose .919 save percentage is tied for the best mark in the league since Christmas. 

3. Carolina Hurricanes (47-21-6) Shane Gostisbehere has only played 48 games this year, but he’s got 46 points in those contests, and he’s providing that (basically) point-per-game production from the back end for a cap hit of $3.2 million.

4. Montreal Canadiens (43-21-10) The Canadiens are loaded with team-friendly deals for their young stars, but we have to go with potential 50-goal man Cole Caufield here. The 25-year-old winger is in Year 3 of an eight-year pact that carries a $7.85-million AAV. 

5. Tampa Bay Lightning (46-22-6) Time to yell about no-tax states! Nikita Kucherov has a $9.5-million hit for the rest of this season and next. For that, he’s providing Tampa the best points-per-game mark in the league (1.78) and seems poised to win his second Hart Trophy and, possibly, his third Ted Lindsay Award. 

Still, in terms of value, how can you beat pending-UFA defenceman Darren Raddysh? His breakout season has Raddysh on 66 points in 67 games, all for the insane bargain of $975,000. Can Tampa get Raddysh inked to a new pact and extend Kucherov this summer?

6. Dallas Stars (44-19-12) It feels like Jason Robertson’s contract has been a subplot in Texas for most of the time he’s been there. It’s coming to a head soon, as Robertson is in the final year of the four-year bridge contract he signed coming off his ELC. For now, he’s one of the most lethal offensive guys in the game — 40 goals and 89 points in 70 outings — for a hit of $7.75 million. 

Matt Duchene, with an AAV of $4.5 million, has 27 points in his past 24 outings.  

7. Boston Bruins (43-24-8) Morgan Geekie inked a six-year deal with Boston last summer, coming off a 33-goal breakout in his age-26 season. There had to be at least some uneasiness on the part of the club given the small sample size of smashing success, but the deal looks great so far with Geekie already exceeding last year’s total — he’s got 34 goals — while playing for $5.5 million. Pavel Zacha, with 13 goals in his past 14 games, is two shy of his first 30-goal season and is collecting $4.75 million annually through 2026-27. 

8. Pittsburgh Penguins (38-21-16) The Penguins took a one-year swing on Anthony Mantha, and it paid off in a huge way, with Mantha delivering 30 goals so far for $2.5 million. Now comes the hard part: figuring out what the next deal looks like for the 31-year-old winger. 

On the back end, the Pens have Parker Wotherspoon playing 20 minutes per night and kicking in 29 points for a hit of $1 million, while Ryan Shea has already hit 30 points for just $900,000.

9. Minnesota Wild (41-21-12) Marcus Johansson’s one-year deal for $800,000 is fantastic given the middle-six production he’s contributing. Matt Boldy is in Year 3 of a 7×7 that’s aging beautifully, and Quinn Hughes — for the rest of this season and next — is offering elite-level production from the blueline for $7.85 million against the cap. Jesper Wallstedt has a .912 save percentage for an AAV of $2.2 million, and, given that the deal extends for one more year, you can see why he’s among the more interesting trade chips that could be in play this summer as the Wild hunt down a top centre. 

10. Columbus Blue Jackets (38-25-12) Pending-RFA Jet Greaves needs a new deal before next fall, but the Jackets starter has a .909 save percentage on a team that’s been one of the best in the NHL in 2026, and he’s making $812,500 against the cap. Winger Kirill Marchenko is a six-foot-three offensive force for an AAV of $3.85 million. 

11. Philadelphia Flyers (37-25-12) The Flyers could not have hoped for more from Dan Vladar when they inked the veteran stopper to a two-year deal last summer worth $3.35 million annually. Vladar has 24 wins and a .904 save percentage. 

12. New York Islanders (42-29-5) Emil Heinemen has been a great fit in his first year with the Islanders. The 24-year-old winger has 21 goals, playing in the first year of a two-year pact that accounts for an AAV of just $1.1 million.

13. Washington Capitals (38-28-9) The Caps signed Logan Thompson to a big, six-year deal during his first campaign in Washington last season and the results have been solid. Thompson has played more minutes than every goalie in the league except Utah’s Karel Vejmelka, and he’s got a .912 save percentage, all for the palatable AAV of $5.85 million. Justin Sourdif is proving to be a wise off-season signing, notching 15 goals in exchange for a cap hit of $825,000.

14. Edmonton Oilers (38-28-9) Zach Hyman is scoring at a 45-goal pace for $5.5 million against the cap. It’s hard to believe he’s already in Year 5 of the seven-year deal he signed with Edmonton, but it’s safe to say that is one UFA move (by Ken Holland) that worked out wonderfully. Let’s also give Stan Bowman some credit for bringing in Jack Roslovic on a one-year deal for $1.5 million and watching him score at a 26-goal clip. 

15. Anaheim Ducks (41-28-5) Jackson LaCombe already has his big eight-year extension with a $9-million AAV in his back pocket. For now, though, he’s giving the Ducks stud, No. 1 D-man play — 30 points in his past 33 games while playing over 23 minutes per night — for a hit of $925,000. 

16. Ottawa Senators (38-26-10) Drake Batherson is a 30-goal man for the first time in his career, and he’s doing it for an AAV just under $5 million. Jordan Spence has been huge for Ottawa of late (12 points in his past 23 outings, playing over 20 minutes per night in that stretch), and the 25-year-old blue-liner is in the final year of a deal that carries a $1.5-million hit. 

17. Detroit Red Wings (39-27-8) James van Riemsdyk has 15 goals on a one-year, $1-million deal, and Patrick Kane is still producing at a 65-point pace for $3 million this year. Scaling up, Alex DeBrincat is three tucks away from a 40-goal season for an AAV of $7.875 million. 

18. Utah Mammoth (38-30-6) Karel Vejmelka has given Utah 33 wins (No. 2 in the NHL) in Year 1 of a five-year deal that counts a $4.75-million AAV. Clayton Keller is a point-per-game player for just over $7 million, and Dylan Guenther, with four more goals, can hit the 40-goal mark while counting $7.2 million against the cap. 

19. New Jersey Devils (38-34-2) Jake Allen — with an AAV of $1.5 million — has a .906 save percentage in 33 contests. When he’s healthy and producing the way he has been the past couple of months, Jack Hughes (39 points in his past 28 outings) is a bargain at a cap hit of $8 million. 

20. San Jose Sharks (35-31-7) Kiefer Sherwood was definitely good value (AAV of $1.5 million) when he was scoring at a 32-goal clip for the Canucks. And while his 17-goal pace in San Jose isn’t horrible, it doesn’t hit in quite the same way. By the way, Sherwood is the same minus-12 in 19 games with the Sharks as he was in 44 outings with lowly Vancouver. It’s safe to say he won’t appear on any “Best Value” pieces next year when his five-year extension worth $5.75 million annually kicks in. 

21. Winnipeg Jets (32-30-12) Mark Scheifele ($8.5-million hit, tied for seventh in NHL scoring), fellow top-liner Kyle Connor ($7.2 million, 94-point pace) and Josh Morrissey (always a fringe Norris contender for $6.25 million) all provide excellent value. Connor, of course, will start an eight-year deal with an AAV of $12 million next fall. 

22. Nashville Predators (34-31-9) Luke Evangelista is on pace for 56 points with an AAV of $3 million, while Ryan O’Reilly could notch 75 — while still providing fantastic two-way play — for a hit of just $4.5 million. 

23. Los Angeles Kings (30-26-18) Adrian Kempe has 21 more points than any other King and makes $5.5 million against the cap, until that number doubles next year. 

Deadline pickup Scott Laughton counts for just $1.5 million against the cap this season, thanks to Philly retaining salary when Laughton was moved at the 2025 deadline 13 months ago. The veteran centre has been a great fit in L.A., playing over 16 minutes per night and kicking in three goals in 13 contests. 

24. Vegas Golden Knights (33-26-16) Pavel Dorofeyev, with 34 goals for a cap hit of $1.8 million, is an absolute steal. Those numbers will change this summer, when the 25-year-old pending RFA gets a new deal. 

25. Seattle Kraken (32-30-11) Bobby McMann — with an AAV of just $1.35 million — has been a fantastic pickup, kicking in seven goals in just nine outings with Seattle. His 2026 UFA asking price is only going up. 

26. St. Louis Blues (31-31-12) Joel Hofer seems to be emerging as a No. 1 guy in the NHL. He’s got a .924 save percentage in 16 games since mid-January and is making $3.4 million against the cap. 

27. Toronto Maple Leafs (32-30-13) Toronto is playing Oliver Ekman-Larsson just $3.5 million annually to be its best defenceman, while John Tavares — on that hometown, sweetheart deal carrying an AAV of just $4.4 million — is still only two tallies away from a 30-goal year. 

28. Calgary Flames (31-35-8) What a find Devin Cooley was for this organization. He’s posted a .912 save percentage in 28 outings, all for the league minimum of $775,000. 

29. Florida Panthers (36-35-3) Say what you will about the length of the deal — and the different landscape, in general, when it comes to contracts in Florida — but Brad Marchand, with an AAV of $5.25 million, was on pace for 43 goals before injury ended his campaign. 

30. New York Rangers (31-35-9) Vincent Trocheck provides a lot of things for an AAV of $5.625 million, which is why numerous teams will come calling this summer if he goes back on the trade market. 

31. Chicago Blackhawks (27-34-14) Tyler Bertuzzi has 31 goals this year, and you’ll certainly take that from a guy on a UFA deal that counts for $5.5 million against the cap. 

32. Vancouver Canucks (22-44-8) Linus Karlsson (13 goals) and undrafted Max Sasson (12) have been nice stories for Vancouver this season. Both guys are playing for the league minimum of $775,000. 

More from Sportsnet

Kucherov, Karlsson, Zacha named NHL’s three stars of March

With playoff salary cap coming to NHL, GMs get calculator to help them