Watford made a profit of £25million last year and are now the highest-grossing club in the Championship with revenues of £66.2m.
The club’s healthy figures are thanks largely to their work in the transfer market, where they made a net profit of £59.2m on player sales.
The biggest sale was that of striker Joao Pedro, who joined Brighton for £30m last June in what was a club-record deal for the Seagulls.
Last season was Watford’s first in the Championship after being relegated from the Premier League the year before and they are now the highest-grossing club in the second tier.
The Hornets achieved revenues of £66.2m, which was down from £128m the previous year due to the club no longer being in the top flight.
Despite a fall in revenues, Watford posted an impressive profit of £25m after making a loss of £17.7m the previous year.
The club has worked hard to keep the wage bill under control and it has reduced from £78.9m to £48.7m.
Watford are currently 11th in the Championship and they will hope to gatecrash the playoffs.
They are just four points off sixth place and host league leaders Leicester City in a huge game on Saturday.
