04/10/2012 02:39 EDT | Updated 04/10/2012 03:03 EDT

NHL Moneyball: Here Are The Most -- And Least -- Productive Hockey Teams

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Disappointed Torontonians and Montrealers can be excused for thinking they’re not getting their money’s worth from their hockey teams, but a new study on the productivity of NHL franchises suggests some other fans have it even worse.

The survey from BMO Capital Markets finds many of Canada’s most popular hockey teams are near the bottom in terms of how many points they scored versus how much they spent.

The Edmonton Oilers are the least productive Canadian NHL team, the survey found, scoring 1.22 points in the regular 2011-2012 season for every $1 million the team spent.

Only the Columbus Blue Jackets, at 1.06 goals per million dollars spent, were less productive.

The Leafs and the Montreal Canadiens did little better, though, scoring 1.26 and 1.25 points, respectively, for every $1 million they spent.

“Part of the Oilers’ problem (and, to some extent, the Habs) is the hangover from earlier contracts and/or injuries, and the team is stocked with plenty of young talent,” the BMO survey states. “We have no explanation for the Leafs.”

The most productive teams were the Nashville Predators, at 2.02 points per million spent, and the St. Louis Blues, at 1.99 points.

But plenty of teams that didn’t make the playoffs actually scored very well on the productivity rankings, with the Colorado Avalanche and Dallas Stars scoring near 1.8 points per million spent, or nearly 50 per cent more than the Leafs and Habs.

The Calgary Flames and Vancouver Canucks earned only 1.4 points and 1.7 points, respectively.

And the most productive Canadian team? The Ottawa Senators, with 1.78 points per million dollars spent, placing them in a fourth-place tie with Colorado.

See which teams are the most productive, and least productive in the league:

Most And Least Productive Teams In The League

Editor's note: An earlier version of this article incorrectly asserted that the Calgary Flames made the playoffs. They didn't. The article has been edited to reflect this.