Bluerock Homes Trust Inc Financials

BHM

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Bluerock Homes Trust Inc (BHM) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 4 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Piotroski F-Score Weak

3/9

Bluerock Homes Trust Inc passes 3 of 9 financial strength tests. 3 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), neither operating efficiency signal passes.

Earnings Quality Mixed

-0.75x

For every $1 of reported earnings, Bluerock Homes Trust Inc generates $-0.75 in operating cash flow ($9.1M OCF vs -$12.1M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Revenue

$50.2M

YoY+22.2%

Bluerock Homes Trust Inc generated $50.2M in revenue in fiscal year 2024. This represents an increase of 22.2% from the prior year.

EBITDA

N/A

Free Cash Flow

-$253K

YoY-105.8%

Bluerock Homes Trust Inc generated -$253K in free cash flow in fiscal year 2024, representing cash available after capex. This represents a decrease of 105.8% from the prior year.

Net Income

-$12.1M

YoY+23.3%

Bluerock Homes Trust Inc reported -$12.1M in net income in fiscal year 2024. This represents an increase of 23.3% from the prior year.

EPS (Diluted)

$-1.10

YoY+15.4%

Bluerock Homes Trust Inc earned $-1.10 per diluted share (EPS) in fiscal year 2024. This represents an increase of 15.4% from the prior year.

Cash & Debt

$115.2M

YoY+43.7%

Bluerock Homes Trust Inc held $115.2M in cash against $252.8M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

N/A

Net Margin

-24.1%

YoY+14.3pp

Bluerock Homes Trust Inc's net profit margin was -24.1% in fiscal year 2024, showing the share of revenue converted to profit. This is up 14.3 percentage points from the prior year.

Return on Equity

N/A

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$9.3M

YoY-2.3%

Bluerock Homes Trust Inc invested $9.3M in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 2.3% from the prior year.

BHM Income Statement

Metric	FY24	FY23	FY22	FY21
Revenue	$50.2M+22.2%	$41.1M+20.4%	$34.1M+133.4%	$14.6M
Cost of Revenue	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A
SG&A Expenses	$10.6M+32.3%	$8.0M+12.7%	$7.1M+55.4%	$4.6M
Operating Income	N/A	N/A	-$9.9M-2657.6%	$389K
Interest Expense	$18.1M+38.1%	$13.1M	N/A	N/A
Income Tax	$0	N/A	N/A	N/A
Net Income	-$12.1M+23.3%	-$15.8M-1476.7%	-$1.0M-102.9%	$34.3M
EPS (Diluted)	$-1.10+15.4%	$-1.30-400.0%	$-0.26-102.9%	$8.93

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Revenue	$16.6M-1.1%	$16.8M+2.4%	$16.4M+56.3%	$10.5M+3.1%	$10.2M-0.8%	$10.3M+1.3%	$10.1M+4.3%	$9.7M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$2.7M+1.5%	$2.7M-12.8%	$3.1M+20.4%	$2.5M+51.6%	$1.7M-6.7%	$1.8M-10.0%	$2.0M-5.5%	$2.1M
Operating Income	N/A	N/A	N/A	N/A	-$3.8M-8.1%	-$3.5M+27.4%	-$4.8M-36.8%	-$3.5M
Interest Expense	$5.7M+1.0%	$5.6M-9.4%	$6.2M	N/A	$3.5M+92.1%	$1.8M	N/A	N/A
Income Tax	$400K-36.1%	$626K+80.9%	$346K	N/A	N/A	N/A	N/A	N/A
Net Income	-$10.0M-71.0%	-$5.8M+20.5%	-$7.3M+28.7%	-$10.3M-184.0%	-$3.6M-980.0%	-$335K+78.2%	-$1.5M+1.5%	-$1.6M
EPS (Diluted)	$-0.94-42.4%	$-0.66+1.5%	$-0.67-26.4%	$-0.53-89.3%	$-0.28-211.1%	$-0.09+77.5%	$-0.40-48.1%	$-0.27

BHM Balance Sheet

Metric	FY24	FY23	FY22	FY21
Total Assets	$967.0M+44.0%	$671.6M+1.9%	$658.9M+21.7%	$541.5M
Current Assets	N/A	N/A	N/A	N/A
Cash & Equivalents	$115.2M+43.7%	$80.2M+2.2%	$78.4M-39.4%	$129.4M
Inventory	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A
Total Liabilities	$827.9M+57.9%	$524.3M+5.1%	$498.9M+27.7%	$390.6M
Current Liabilities	N/A	N/A	N/A	N/A
Long-Term Debt	$252.8M+161.5%	$96.7M-1.5%	$98.2M+55.8%	$63.0M
Total Equity	$139.1M-5.6%	$147.4M-7.9%	$160.0M+6.1%	$150.8M
Retained Earnings	$20.7M-17.0%	$24.9M-25.2%	$33.3M-2.9%	$34.3M

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Total Assets	$1.1B+395.9%	$220.3M+18.3%	$186.2M-72.3%	$671.6M+0.1%	$670.7M+0.7%	$665.9M+3.6%	$643.0M-2.4%	$658.9M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$162.7M+3757.1%	$4.2M+39.1%	$3.0M-96.2%	$80.2M-10.4%	$89.4M+12.0%	$79.9M+36.1%	$58.7M-25.2%	$78.4M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$961.0M+1030.2%	$85.0M+73.1%	$49.1M-90.6%	$524.3M+1.7%	$515.6M+1.4%	$508.7M+5.0%	$484.6M-2.9%	$498.9M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$393.9M+16.3%	$338.6M+34.7%	$251.5M+160.1%	$96.7M-0.4%	$97.1M-0.4%	$97.5M-0.4%	$97.8M-0.4%	$98.2M
Total Equity	$131.7M-2.7%	$135.3M-1.3%	$137.1M-6.9%	$147.4M-5.0%	$155.1M-1.3%	$157.2M-0.7%	$158.3M-1.1%	$160.0M
Retained Earnings	$10.6M-28.0%	$14.7M-16.9%	$17.7M-29.1%	$24.9M	N/A	$31.4M-1.1%	$31.8M-4.6%	$33.3M

BHM Cash Flow Statement

Metric	FY24	FY23	FY22	FY21
Operating Cash Flow	$9.1M-34.7%	$13.9M+296.8%	$3.5M-64.3%	$9.8M
Capital Expenditures	$9.3M-2.3%	$9.5M-48.9%	$18.6M+995.7%	$1.7M
Free Cash Flow	-$253K-105.8%	$4.4M+128.7%	-$15.2M-286.9%	$8.1M
Investing Cash Flow	-$224.9M-774.4%	-$25.7M+85.5%	-$177.2M-212.1%	$158.0M
Financing Cash Flow	$260.7M+1564.4%	$15.7M-86.9%	$119.3M+241.3%	-$84.5M
Dividends Paid	$3.9M-69.0%	$12.5M	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Operating Cash Flow	$13.4M-3.0%	$13.9M+1357.6%	$951K-86.6%	$7.1M+51.4%	$4.7M+8.9%	$4.3M+295.9%	-$2.2M+68.7%	-$7.0M
Capital Expenditures	$4.7M-6.9%	$5.1M+32.2%	$3.8M+65.3%	$2.3M+15.5%	$2.0M-35.8%	$3.1M+52.9%	$2.1M-12.2%	$2.3M
Free Cash Flow	$8.7M-0.8%	$8.8M+403.3%	-$2.9M-160.7%	$4.8M+78.5%	$2.7M+129.2%	$1.2M+127.4%	-$4.2M+54.6%	-$9.4M
Investing Cash Flow	-$83.1M-84.7%	-$45.0M-336.9%	$19.0M+191.3%	-$20.8M-1266.9%	$1.8M+343.3%	-$732K+87.8%	-$6.0M+35.2%	-$9.2M
Financing Cash Flow	$107.8M+322.6%	$25.5M+5414.0%	-$480K-110.7%	$4.5M+49.5%	$3.0M-84.5%	$19.4M+272.4%	-$11.3M+87.7%	-$92.0M
Dividends Paid	$4.1M+4.1%	$3.9M+27.8%	$3.1M-75.5%	$12.5M+104116.7%	$12K	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

BHM Financial Ratios

Metric	FY24	FY23	FY22	FY21
Gross Margin	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	-29.1%-31.8pp	2.7%
Net Margin	-24.1%+14.3pp	-38.4%-35.4pp	-2.9%-237.6pp	234.6%
Return on Equity	N/A	N/A	N/A	22.8%
Return on Assets	-1.3%+1.1pp	-2.4%-2.2pp	-0.1%-6.5pp	6.3%
Current Ratio	N/A	N/A	N/A	N/A
Debt-to-Equity	1.82+1.2	0.66+0.0	0.61+0.2	0.42
FCF Margin	-0.5%-11.1pp	10.6%+55.0pp	-44.4%-99.8pp	55.4%

Metric	Q3'25	Q2'25	Q1'25	Q4'23	Q3'24	Q2'24	Q1'24	Q4'22
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	N/A	N/A	N/A	N/A	-37.3%-3.1pp	-34.2%+13.5pp	-47.7%-11.3pp	-36.4%
Net Margin	-60.0%-25.3pp	-34.7%+10.0pp	-44.7%+53.2pp	-97.8%-62.3pp	-35.5%-32.3pp	-3.3%+11.9pp	-15.2%+0.9pp	-16.1%
Return on Equity	2.5%	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Return on Assets	-0.9%+1.7pp	-2.6%+1.3pp	-3.9%-2.4pp	-1.5%-1.0pp	-0.5%-0.5pp	-0.1%+0.2pp	-0.2%0.0pp	-0.2%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	2.99+0.5	2.50+0.7	1.83+1.2	0.66+0.0	0.630.0	0.620.0	0.620.0	0.61
FCF Margin	52.4%+0.2pp	52.2%+69.9pp	-17.6%-63.0pp	45.4%+19.1pp	26.2%+14.9pp	11.3%+53.2pp	-41.9%+54.3pp	-96.2%

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Frequently Asked Questions

What is Bluerock Homes Trust Inc's annual revenue?

Bluerock Homes Trust Inc (BHM) reported $50.2M in total revenue for fiscal year 2024. This represents a 22.2% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Bluerock Homes Trust Inc's revenue growing?

Bluerock Homes Trust Inc (BHM) revenue grew by 22.2% year-over-year, from $41.1M to $50.2M in fiscal year 2024.

Is Bluerock Homes Trust Inc profitable?

No, Bluerock Homes Trust Inc (BHM) reported a net income of -$12.1M in fiscal year 2024, with a net profit margin of -24.1%.

What is Bluerock Homes Trust Inc's earnings per share (EPS)?

Bluerock Homes Trust Inc (BHM) reported diluted earnings per share of $-1.10 for fiscal year 2024. This represents a 15.4% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

How much debt does Bluerock Homes Trust Inc have?

As of fiscal year 2024, Bluerock Homes Trust Inc (BHM) had $115.2M in cash and equivalents against $252.8M in long-term debt.

What is Bluerock Homes Trust Inc's net profit margin?

Bluerock Homes Trust Inc (BHM) had a net profit margin of -24.1% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Bluerock Homes Trust Inc's free cash flow?

Bluerock Homes Trust Inc (BHM) generated -$253K in free cash flow during fiscal year 2024. This represents a -105.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Bluerock Homes Trust Inc's operating cash flow?

Bluerock Homes Trust Inc (BHM) generated $9.1M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Bluerock Homes Trust Inc's total assets?

Bluerock Homes Trust Inc (BHM) had $967.0M in total assets as of fiscal year 2024, including both current and long-term assets.

What are Bluerock Homes Trust Inc's capital expenditures?

Bluerock Homes Trust Inc (BHM) invested $9.3M in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Bluerock Homes Trust Inc's debt-to-equity ratio?

Bluerock Homes Trust Inc (BHM) had a debt-to-equity ratio of 1.82 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Bluerock Homes Trust Inc's return on assets (ROA)?

Bluerock Homes Trust Inc (BHM) had a return on assets of -1.3% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Bluerock Homes Trust Inc's Piotroski F-Score?

Bluerock Homes Trust Inc (BHM) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Bluerock Homes Trust Inc's earnings high quality?

Bluerock Homes Trust Inc (BHM) has an earnings quality ratio of -0.75x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.