First-year coach Joe Philbin leads a franchise valued at more than $1 billion. (US Presswire)

If Dr. Evil from the “Austin Powers” movies was going to buy the Miami Dolphins, he would need more than “One Billion Dollars!”

The Miami franchise was valued at $1.06 billion in a report by Forbes on Wednesday. This represents a 5 percent increase from 2011. Miami also posted operating revenue of $265 million and operating income around $14.5 million last year, the magazine reported.

The top team on the list was the Dallas Cowboys, valued at $2.1 billion. They were followed by the New England Patriots ($1.635 billion), the Washington Redskins ($1.6 billion), the New York Giants ($1.468 billion) and the Houston Texans ($1.305 billion). Miami finished 15th.

The Jacksonville Jaguars were last on the list at $770 million.

Offensive line shuffling: Guard Artis Hicks is gone for 2012.

The veteran interior lineman was put on season-ending injured reserve this week with a neck injury. The projected starter’s absence leaves a huge whole in the unit. Guard John Jerry has battled weight issues and missed practice earlier this week with an undisclosed ailment. Offensive linemanNate Garner has earned several starts in his career but never managed to hold onto a job.

Naming a starter could be a game-time decision for Sunday against Houston.

Guess who’s back: Receiver Anthony Armstrong is back in South Beach.

The former Washington Redskin was a member of the Miami practice squad in 2008 before being cut during training camp in 2009. He caught on with the Redskins but was released last month. With the Dolphins touting one of the weakest receiving units in the league, Armstrong is expected to play immediately.  

"It has been a whirlwind, that's the perfect word for it,” Armstrong told the Miami Herald. “I go from supposedly on the team and getting ready for New Orleans to there's trade rumors and then I'm cut and going on to another team the next day. I had four hours to pack and I got here and had seven hours of playbook install with the coaches. It hasn't stopped yet. They've kept me pretty busy and I'm still getting used to coach (Joe) Philbin's schedule."

For more up-to-the-minute news and analysis on the Miami Dolphins from blogger Dave Carey, follow@CBSSportsNFLMIA.