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Side-by-side financial comparison of American Homes 4 Rent (AMH) and Bluerock Homes Trust, Inc. (BHM). Click either name above to swap in a different company.
American Homes 4 Rent is the larger business by last-quarter revenue ($455.0M vs $18.9M, roughly 24.1× Bluerock Homes Trust, Inc.). American Homes 4 Rent runs the higher net margin — 31.7% vs -50.1%, a 81.8% gap on every dollar of revenue. On growth, Bluerock Homes Trust, Inc. posted the faster year-over-year revenue change (36.9% vs 4.2%). American Homes 4 Rent produced more free cash flow last quarter ($135.5M vs $-4.2M). Over the past eight quarters, Bluerock Homes Trust, Inc.'s revenue compounded faster (30.1% CAGR vs 3.6%).
American Homes 4 RentAMHEarnings & Financial Report
American Homes 4 Rent, doing business as AMH, is a real estate investment trust based in Las Vegas, Nevada, that invests in single-family rental homes. As of December 31, 2019, the company owned 52,552 homes in 22 states. Its largest concentrations are in Atlanta, Dallas-Fort Worth, and Charlotte, North Carolina.
Bluerock Homes Trust, Inc. is a U.S.-headquartered real estate investment trust that acquires, owns and operates a portfolio of high-quality single-family rental residential properties. It caters to middle-market renters across high-growth suburban markets, prioritizing regions with strong demographic fundamentals and sustained rental housing demand.
AMH vs BHM — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $455.0M | $18.9M |
| Net Profit | $144.3M | $-9.5M |
| Gross Margin | — | — |
| Operating Margin | — | -48.8% |
| Net Margin | 31.7% | -50.1% |
| Revenue YoY | 4.2% | 36.9% |
| Net Profit YoY | 0.3% | -29.9% |
| EPS (diluted) | $0.33 | $-0.75 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $455.0M | $18.9M | ||
| Q3 25 | $478.5M | $16.6M | ||
| Q2 25 | $457.5M | $16.8M | ||
| Q1 25 | $459.3M | $16.4M | ||
| Q4 24 | $436.6M | $13.8M | ||
| Q3 24 | $445.1M | $12.7M | ||
| Q2 24 | $423.5M | $12.5M | ||
| Q1 24 | $423.6M | $11.2M |
| Q4 25 | $144.3M | $-9.5M | ||
| Q3 25 | $116.8M | $-10.0M | ||
| Q2 25 | $123.6M | $-5.8M | ||
| Q1 25 | $128.7M | $-7.3M | ||
| Q4 24 | $143.9M | $-7.3M | ||
| Q3 24 | $87.6M | $3.5M | ||
| Q2 24 | $108.5M | $-5.2M | ||
| Q1 24 | $128.1M | $-3.2M |
| Q4 25 | — | -48.8% | ||
| Q3 25 | — | -57.6% | ||
| Q2 25 | — | -30.9% | ||
| Q1 25 | — | -42.6% | ||
| Q4 24 | — | -52.8% | ||
| Q3 24 | — | 27.9% | ||
| Q2 24 | — | -41.3% | ||
| Q1 24 | — | -28.4% |
| Q4 25 | 31.7% | -50.1% | ||
| Q3 25 | 24.4% | -60.0% | ||
| Q2 25 | 27.0% | -34.7% | ||
| Q1 25 | 28.0% | -44.7% | ||
| Q4 24 | 33.0% | -52.8% | ||
| Q3 24 | 19.7% | 27.9% | ||
| Q2 24 | 25.6% | -41.3% | ||
| Q1 24 | 30.2% | -28.4% |
| Q4 25 | $0.33 | $-0.75 | ||
| Q3 25 | $0.27 | $-0.94 | ||
| Q2 25 | $0.28 | $-0.66 | ||
| Q1 25 | $0.30 | $-0.67 | ||
| Q4 24 | $0.33 | $-0.65 | ||
| Q3 24 | $0.20 | $0.24 | ||
| Q2 24 | $0.25 | $-0.42 | ||
| Q1 24 | $0.30 | $-0.27 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $108.5M | $169.6M |
| Total DebtLower is stronger | $5.1B | $428.4M |
| Stockholders' EquityBook value | $7.0B | $128.7M |
| Total Assets | $13.2B | $1.2B |
| Debt / EquityLower = less leverage | 0.72× | 3.33× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $108.5M | $169.6M | ||
| Q3 25 | $45.6M | $2.1M | ||
| Q2 25 | $323.3M | $4.2M | ||
| Q1 25 | $69.7M | $3.0M | ||
| Q4 24 | $199.4M | $115.2M | ||
| Q3 24 | $162.5M | $155.1M | ||
| Q2 24 | $718.4M | $116.0M | ||
| Q1 24 | $124.8M | $92.3M |
| Q4 25 | $5.1B | $428.4M | ||
| Q3 25 | $4.8B | $415.9M | ||
| Q2 25 | $5.2B | $338.6M | ||
| Q1 25 | $4.9B | $336.5M | ||
| Q4 24 | $5.0B | $373.8M | ||
| Q3 24 | $4.5B | $122.5M | ||
| Q2 24 | $5.0B | $119.7M | ||
| Q1 24 | $4.5B | $120.2M |
| Q4 25 | $7.0B | $128.7M | ||
| Q3 25 | $7.2B | $131.7M | ||
| Q2 25 | $7.2B | $135.3M | ||
| Q1 25 | $7.2B | $137.1M | ||
| Q4 24 | $7.2B | $139.1M | ||
| Q3 24 | $7.0B | $142.9M | ||
| Q2 24 | $7.0B | $142.5M | ||
| Q1 24 | $7.0B | $144.5M |
| Q4 25 | $13.2B | $1.2B | ||
| Q3 25 | $13.3B | $222.1M | ||
| Q2 25 | $13.6B | $220.3M | ||
| Q1 25 | $13.3B | $186.2M | ||
| Q4 24 | $13.4B | $967.0M | ||
| Q3 24 | $12.8B | $800.8M | ||
| Q2 24 | $13.3B | $756.2M | ||
| Q1 24 | $12.8B | $727.4M |
| Q4 25 | 0.72× | 3.33× | ||
| Q3 25 | 0.68× | 3.16× | ||
| Q2 25 | 0.72× | 2.50× | ||
| Q1 25 | 0.69× | 2.45× | ||
| Q4 24 | 0.70× | 2.69× | ||
| Q3 24 | 0.64× | 0.86× | ||
| Q2 24 | 0.71× | 0.84× | ||
| Q1 24 | 0.64× | 0.83× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $145.8M | $-491.0K |
| Free Cash FlowOCF − Capex | $135.5M | $-4.2M |
| FCF MarginFCF / Revenue | 29.8% | -22.1% |
| Capex IntensityCapex / Revenue | 2.3% | 19.6% |
| Cash ConversionOCF / Net Profit | 1.01× | — |
| TTM Free Cash FlowTrailing 4 quarters | $823.7M | $10.4M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $145.8M | $-491.0K | ||
| Q3 25 | $223.3M | $13.4M | ||
| Q2 25 | $271.9M | $13.9M | ||
| Q1 25 | $223.4M | $951.0K | ||
| Q4 24 | $102.2M | $5.0M | ||
| Q3 24 | $233.6M | $1.7M | ||
| Q2 24 | $274.0M | $1.3M | ||
| Q1 24 | $201.8M | $1.1M |
| Q4 25 | $135.5M | $-4.2M | ||
| Q3 25 | $214.5M | $8.7M | ||
| Q2 25 | $257.7M | $8.8M | ||
| Q1 25 | $215.9M | $-2.9M | ||
| Q4 24 | $97.9M | $1.6M | ||
| Q3 24 | $225.3M | $-601.0K | ||
| Q2 24 | $263.3M | $-654.0K | ||
| Q1 24 | $191.0M | $-630.0K |
| Q4 25 | 29.8% | -22.1% | ||
| Q3 25 | 44.8% | 52.4% | ||
| Q2 25 | 56.3% | 52.2% | ||
| Q1 25 | 47.0% | -17.6% | ||
| Q4 24 | 22.4% | 11.8% | ||
| Q3 24 | 50.6% | -4.7% | ||
| Q2 24 | 62.2% | -5.2% | ||
| Q1 24 | 45.1% | -5.6% |
| Q4 25 | 2.3% | 19.6% | ||
| Q3 25 | 1.8% | 28.5% | ||
| Q2 25 | 3.1% | 30.3% | ||
| Q1 25 | 1.6% | 23.4% | ||
| Q4 24 | 1.0% | 24.4% | ||
| Q3 24 | 1.9% | 18.0% | ||
| Q2 24 | 2.5% | 15.3% | ||
| Q1 24 | 2.6% | 15.5% |
| Q4 25 | 1.01× | — | ||
| Q3 25 | 1.91× | — | ||
| Q2 25 | 2.20× | — | ||
| Q1 25 | 1.74× | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 2.67× | 0.47× | ||
| Q2 24 | 2.52× | — | ||
| Q1 24 | 1.58× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AMH
Segment breakdown not available.
BHM
| Residential Communities Segment | $11.4M | 61% |
| Scattered Single Family Homes Segment | $7.5M | 39% |
