Albion have slipped out of the Deloitte Football Money League.
The club broke into the top 30 for the first time last year as a result of their debut Premier League campaign.
They do not feature in the top 30, based on income, this time after their earnings rose by a modest 3%.
A low exchange rate will have counted against them in the standings compared to teams from other nations with Deloitte showing figures in euros.
Wolves move into the standings at 25 and Crystal Palace are 30 in a list topped for the first time by Barcelona.
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