diff --git a/src/Corporation/Corporation.ts b/src/Corporation/Corporation.ts
index 8241f0fef..20b043c29 100644
--- a/src/Corporation/Corporation.ts
+++ b/src/Corporation/Corporation.ts
@@ -199,6 +199,11 @@ export class Corporation {
       assetDelta = (this.totalAssets - this.previousTotalAssets) / corpConstants.secondsPerMarketCycle;
     // Handle pre-totalAssets saves
     assetDelta ??= this.revenue - this.expenses;
+    const numberOfOfficesAndWarehouses = [...this.divisions.values()]
+      .map(
+        (division: Division) => getRecordValues(division.offices).length + getRecordValues(division.warehouses).length,
+      )
+      .reduce((sum: number, currentValue: number) => sum + currentValue, 0);
     if (this.public) {
       // Account for dividends
       if (this.dividendRate > 0) {
@@ -206,14 +211,14 @@ export class Corporation {
       }
 
       val = this.funds + assetDelta * 85e3;
-      val *= Math.pow(1.1, this.divisions.size);
+      val *= Math.pow(Math.pow(1.1, 1 / 12), numberOfOfficesAndWarehouses);
       val = Math.max(val, 0);
     } else {
       val = 10e9 + this.funds / 3;
       if (assetDelta > 0) {
         val += assetDelta * 315e3;
       }
-      val *= Math.pow(1.1, this.divisions.size);
+      val *= Math.pow(Math.pow(1.1, 1 / 12), numberOfOfficesAndWarehouses);
       val -= val % 1e6; //Round down to nearest million
     }
     if (val < 10e9) val = 10e9; // Base valuation