In 2016, the BBC was a company of about 3,500 people, and it had an operating profit of about £1bn.
Now it has about 2,700 people, a profit of £2.3bn, and revenue of £4.3b.
The main difference, as of the end of March this year, is that the BBC now has an annual profit of more than £4bn, compared with a profit before tax of around £1.4bn.
That is despite the fact that it is now worth less than a quarter of what it was before the financial crisis.
In the years since the financial crash, the UK public sector has seen a huge transformation in its role in delivering services and that has made the BBC and other UK broadcasters more efficient.
In a recent article in The Irish Sun, Paul O’Connor, the former BBC director of entertainment, highlighted how the BBC is now making money at a faster rate than ever.
“Its audience is growing faster than ever, and its revenues are increasing faster than they have in the past,” he wrote.
“So its earnings per share have increased by over 30 per cent over the past five years.”
But it is the rise of the internet that has transformed the BBC, he said, and this has been accompanied by a dramatic increase in its financial value.
“In 2015, its value was around £4m, but today it is valued at £8.3 billion,” he said.
“That is a rise of over 200 per cent in just the past few years.”
What is the BBC worth?
A major reason for the rise in value is that it now has a lot more money.
Its annual profit before taxes has risen from around £8bn in 2014 to £9.1bn in 2017.
And it now owns around 90 per cent of the UK’s broadcasters, which is more than a third of the total.
As a result, its profit before interest and tax is more profitable than ever before, at around £7.6bn a year.
It has also seen a dramatic rise in its operating profit: its operating margin has doubled in the last five years to about 25 per cent.
What is its future?
The BBC will need to make further capital investment to keep its finances in order, but the new era of the digital media industry is likely to mean greater growth for the BBC in the future.
It is also possible that the UK could join the likes of France, Germany and Italy in moving to a more regulated system of the BBC.
However, this is unlikely to happen for at least the next 10 years.
If it does, then the BBC’s value could fall to less than half of what is currently available.
What do you think?
Is the BBC overvalued?
If the value of the corporation has gone up, how can I make it lower?