Bluerock Homes Trust, Inc. (BHM) Balance Sheet
BHM balance sheet, 2025
December 31, 2025 · U.S. dollars$1.15B assets = $462.6M liabilities + $691.8M equity
Both columns are drawn to the same scale: what BHM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
BHM financial health
Descriptive bands, not a rating. Fiscal 2025.
BHM balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $491.8M2020 | $1.15B2025 | +18.6%/yr | |
| Total liabilities | $307.8M2020 | $462.6M2025 | +8.5%/yr | |
| Shareholders’ equity | $184.0M2020 | $270.9M2025 | +8.0%/yr | |
| Cash & short-term investments | $48.8M2020 | $169.6M2025 | +28.3%/yr | |
| Total debt | $86.9M2020 | $428.4M2025 | +37.6%/yr | |
| Net cash (debt) | −$38.1M2020 | −$258.8M2025 | −$220.7M | |
| Working capital | $134.4M2020 | $182.9M2025 | +$48.5M | |
| Book value per share | $47.872020 | $69.642025 | +7.8%/yr | |
| Current ratio | 1.472020 | 6.352025 | +4.88 | |
| Debt / equity | 0.472020 | 1.582025 | +1.11 | |
| Shares outstanding | 3.8M2020 | 3.9M2025 | +0.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
BHM assets
BHM liabilities and equity
BHM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
BHM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $169.6M | $115.2M | $82.6M | $78.4M | $129.4M | $48.8M |
| Cash & equivalents | $169.6M | $115.2M | $80.2M | $78.4M | $129.4M | $48.8M |
| Short-term investments | — | — | $2.4M | $403.7M | — | — |
| Receivables | $22.6M | $67.7M | $39.2M | $17.9M | $44.4M | $53.8M |
| Inventory | $0 | $0 | −$2.4M | −$5.3M | $1 | $421.2M |
| Other current assets | $24.9M | $16.0M | $23.4M | $9.5M | $7.5M | $0 |
| Total current assets | $217.1M | $198.9M | $142.8M | $100.5M | $181.3M | $421.3M |
| Property, plant & equipment (net) | $0 | $0 | $446.0M | $472.1M | $318.1M | $29.1M |
| Goodwill & intangible assets | $7.5M | $2.7M | $0 | $0 | $2.5M | $0 |
| Long-term investments | $61.4M | $81.7M | $81.2M | $558.4M | $39.5M | $41.4M |
| Other non-current assets | $868.4M | $683.6M | $1.7M | $0 | $0 | $0 |
| Total assets | $1.15B | $967.0M | $671.6M | $658.9M | $541.5M | $491.8M |
| Liabilities | ||||||
| Accounts payable | $1.1M | $803,000 | $691,000 | $1.8M | $2.1M | $169,000 |
| Short-term debt | $34.1M | $121.0M | $21.6M | $55.0M | $63.0M | $33.0M |
| Deferred revenue | — | — | $95.4M | — | −$63.0M | $9.3M |
| Total current liabilities | $34.2M | $145.3M | $47.7M | $68.7M | $16.5M | $286.9M |
| Long-term debt | $395.4M | $250.9M | $145.0M | $98.2M | $58.1M | $53.9M |
| Other long-term liabilities | $33.0M | $1.9M | $0 | $0 | $4.9M | $0 |
| Total liabilities | $462.6M | $398.1M | $192.7M | $166.9M | $79.5M | $307.8M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $40,000 | $40,000 | $39,000 | $38,000 | $116.5M | $179.6M |
| Retained earnings (deficit) | $7.2M | $20.7M | $24.9M | $33.3M | $150.8M | — |
| Accumulated other comprehensive income | $11,000 | −$164,000 | −$8.3M | $0 | $462.0M | $4.4M |
| Minority interest | $421.0M | $327.7M | $323.2M | $332.0M | — | — |
| Total shareholders' equity | $270.9M | $241.2M | $155.6M | $160.0M | $462.0M | $184.0M |
| Key figures | ||||||
| Total debt | $428.4M | $373.8M | $166.7M | $153.2M | $121.1M | $86.9M |
| Net cash (debt) | −$258.8M | −$258.6M | −$84.1M | −$74.8M | $8.3M | −$38.1M |
| Working capital | $182.9M | $53.6M | $95.0M | $31.8M | $164.8M | $134.4M |
| Tangible book value | $263.4M | $238.5M | $155.6M | $160.0M | $459.4M | $184.0M |
| Book value per share | $69.64 | $62.56 | $40.47 | $41.63 | $120.20 | $47.87 |
| Shares outstanding | 3.9M | 3.9M | 3.8M | 3.8M | 3.8M | 3.8M |
| Current ratio | 6.35 | 1.37 | 2.99 | 1.46 | 11.00 | 1.47 |
| Quick ratio | 5.62 | 1.26 | 2.55 | 1.40 | 10.54 | 0.36 |
| Debt / equity | 1.58 | 1.55 | 1.07 | 0.96 | 0.26 | 0.47 |
| Equity / assets | 23.5% | 24.9% | 23.2% | 24.3% | 85.3% | 37.4% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $172.1M | $170.1M | $169.6M | $162.7M | $127.6M | $134.7M | $115.2M | $155.1M | $116.0M | $94.0M | $82.6M | $89.4M |
| Cash & equivalents | $172.1M | $170.1M | $169.6M | $162.7M | $127.6M | $134.7M | $115.2M | $155.1M | $116.0M | $92.3M | $80.2M | $89.4M |
| Short-term investments | — | — | — | — | — | — | — | — | $393.9M | $1.7M | $2.4M | $410.4M |
| Receivables | $28.7M | $28.7M | $22.6M | $28.5M | $30.9M | $46.8M | $67.7M | $65.4M | $56.2M | $48.0M | $39.2M | $23.9M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$1.7M | −$2.4M | −$4.0M |
| Other current assets | $0 | $21.5M | $24.9M | $20.6M | $17.6M | $16.1M | $16.0M | $9.8M | $61.8M | $6.9M | $23.4M | $10.2M |
| Total current assets | $200.8M | $220.3M | $217.1M | $211.8M | $176.1M | $197.7M | $198.9M | $230.2M | $233.9M | $147.2M | $142.8M | $119.5M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $4.7M | $658.5M | $661.8M | $470.6M | $440.6M | $484.2M | $446.0M | $465.9M |
| Goodwill & intangible assets | $5.2M | $5.9M | $7.5M | $1.8M | $669,000 | $849,000 | $2.7M | $491,000 | $509,000 | $1.0M | $0 | $0 |
| Long-term investments | $81.4M | $69.4M | $61.4M | $70.7M | $87.4M | $89.0M | $81.7M | $73.0M | $81.2M | $79.3M | $81.2M | $85.3M |
| Other non-current assets | $860.1M | $847.3M | $868.4M | $808.4M | $722.4M | $18.4M | $21.8M | $26.5M | $0 | $15.8M | $1.7M | $0 |
| Total assets | $1.15B | $1.14B | $1.15B | $1.09B | $991.2M | $964.4M | $967.0M | $800.8M | $756.2M | $727.4M | $671.6M | $670.7M |
| Liabilities | ||||||||||||
| Accounts payable | $1.1M | $756,000 | $1.1M | $808,000 | $775,000 | $824,000 | $803,000 | $1.0M | $585,000 | $695,000 | $691,000 | $921,000 |
| Short-term debt | $14.1M | $28.5M | $34.1M | $22.0M | $1.4M | $85.0M | $121.0M | $20.0M | $20.9M | $1.3M | $21.6M | $402,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | $32.8M | $117.3M | $95.4M | — |
| Total current liabilities | $14.1M | $31.6M | $34.2M | $58.8M | $33.1M | $112.9M | $145.3M | $37.8M | $585,000 | $14.3M | $47.7M | $84.5M |
| Long-term debt | $421.9M | $416.8M | $395.4M | $415.4M | $337.7M | $250.0M | $250.9M | $207.1M | $204.7M | $120.2M | $96.7M | $97.1M |
| Other long-term liabilities | $18.8M | $0 | $33.0M | $0 | $965,000 | $1.4M | $1.9M | $413,000 | $0 | $103.7M | $48.4M | $3.4M |
| Total liabilities | $454.9M | $448.4M | $462.6M | $452.7M | $371.7M | $364.4M | $398.1M | $245.4M | $239.8M | $238.2M | $192.7M | $185.0M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $41,000 | $40,000 | $40,000 | $40,000 | $41,000 | $40,000 | $40,000 | $40,000 | $39,000 | $39,000 | $39,000 | $39,000 |
| Retained earnings (deficit) | −$737,000 | $3.3M | $7.2M | $10.6M | $14.7M | $17.7M | $20.7M | $23.2M | $22.3M | $23.9M | $24.9M | $30.4M |
| Accumulated other comprehensive income | $50,000 | $38,000 | $11,000 | $23,000 | $495,000 | $307,000 | −$164,000 | — | −$48.3M | −$16.8M | −$39,000 | −$3.4M |
| Minority interest | $415.9M | $420.5M | $421.0M | $371.4M | $354.6M | — | — | — | — | — | — | — |
| Total shareholders' equity | $276.7M | $274.1M | $270.9M | $268.7M | $264.9M | $253.9M | $241.2M | $228.9M | $190.9M | $161.3M | $155.6M | $155.1M |
| Key figures | ||||||||||||
| Total debt | $426.5M | $416.8M | $428.4M | $415.9M | $338.6M | $336.5M | $373.8M | $227.5M | $224.7M | $225.2M | $166.7M | $167.1M |
| Net cash (debt) | −$254.4M | −$246.7M | −$258.8M | −$253.2M | −$211.0M | −$201.7M | −$258.6M | −$72.4M | −$108.7M | −$131.2M | −$84.1M | −$77.6M |
| Working capital | $186.7M | $188.7M | $182.9M | $153.0M | $143.0M | $84.7M | $53.6M | $192.4M | $233.4M | $132.9M | $95.0M | $35.0M |
| Tangible book value | $271.5M | $268.1M | $263.4M | $266.8M | $264.2M | $253.0M | $238.5M | $228.4M | $190.3M | $160.3M | $155.6M | $155.1M |
| Book value per share | $70.20 | $70.31 | $66.79 | $68.92 | $67.99 | $65.69 | $60.88 | $59.14 | $49.55 | $41.92 | $40.11 | $40.32 |
| Shares outstanding | 3.9M | 3.9M | 4.1M | 3.9M | 3.9M | 3.9M | 4.0M | 3.9M | 3.9M | 3.8M | 3.9M | 3.8M |
| Current ratio | 14.20 | 6.97 | 6.35 | 3.60 | 5.32 | 1.75 | 1.37 | 6.09 | 399.89 | 10.30 | 2.99 | 1.41 |
| Quick ratio | 14.20 | 6.29 | 5.62 | 3.25 | 4.79 | 1.61 | 1.26 | 5.83 | 294.31 | 9.94 | 2.55 | 1.34 |
| Debt / equity | 1.54 | 1.52 | 1.58 | 1.55 | 1.28 | 1.33 | 1.55 | 0.99 | 1.18 | 1.40 | 1.07 | 1.08 |
| Equity / assets | 24.1% | 24.0% | 23.5% | 24.6% | 26.7% | 26.3% | 24.9% | 28.6% | 25.2% | 22.2% | 23.2% | 23.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 27, 2026); data from EODHD.
BHM financial position
At the end of fiscal 2025 (December 31, 2025), Bluerock Homes had total assets of $1.2 billion (up 19.4% from a year earlier), total liabilities of $462.6 million and shareholders' equity of $270.9 million. It held $169.6 million in cash and short-term investments against $428.4 million of debt, net debt of $258.8 million. Its current ratio was 6.35. In the latest quarter (ended June 30, 2026) total assets were $1.1 billion and equity $276.7 million.
Related: BHM income statement, BHM cash flow statement, BHM key metrics. See the BHM stock overview for the latest quote and news.
BHM balance sheet FAQ
What are Bluerock Homes's total assets?
Bluerock Homes reported total assets of $1.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $967.0 million a year earlier.
How much debt does Bluerock Homes have?
Bluerock Homes had $428.4 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.58.
How much cash does Bluerock Homes have?
Bluerock Homes held $169.6 million in cash and short-term investments at the end of fiscal 2025; with $428.4 million of debt that is net debt of $258.8 million.
What is Bluerock Homes's book value?
Bluerock Homes's shareholders' equity (book value) was $270.9 million at the end of fiscal 2025, or $69.64 per share.
What is Bluerock Homes's current ratio?
Bluerock Homes had current assets of $217.1 million and current liabilities of $34.2 million, a current ratio of 6.35 (it can cover its short-term obligations).
How much goodwill does Bluerock Homes have?
Bluerock Homes carried $7.5 million of goodwill and intangible assets, 0.6% of total assets, at the end of fiscal 2025.