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Side-by-side financial comparison of Bluerock Homes Trust, Inc. (BHM) and SmartRent, Inc. (SMRT). Click either name above to swap in a different company.
SmartRent, Inc. is the larger business by last-quarter revenue ($36.5M vs $18.9M, roughly 1.9× Bluerock Homes Trust, Inc.). SmartRent, Inc. runs the higher net margin — -8.9% vs -50.1%, a 41.2% gap on every dollar of revenue. On growth, Bluerock Homes Trust, Inc. posted the faster year-over-year revenue change (35.9% vs 3.1%). Bluerock Homes Trust, Inc. produced more free cash flow last quarter ($10.4M vs $7.7M). Over the past eight quarters, Bluerock Homes Trust, Inc.'s revenue compounded faster (30.1% CAGR vs -15.0%).
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.
Budget Rent a Car System, Inc. is an American car rental company that was founded in 1958 in Los Angeles, California by Morris Mirkin. Budget is a subsidiary of the Avis Budget Group, with its operations headquartered in Parsippany, New Jersey.
BHM vs SMRT — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $18.9M | $36.5M |
| Net Profit | $-9.5M | $-3.2M |
| Gross Margin | — | 38.6% |
| Operating Margin | -48.8% | -10.9% |
| Net Margin | -50.1% | -8.9% |
| Revenue YoY | 35.9% | 3.1% |
| Net Profit YoY | -29.9% | 71.6% |
| EPS (diluted) | $-0.75 | $-0.02 |
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 | $18.9M | $36.5M | ||
| Q3 25 | $16.6M | $36.2M | ||
| Q2 25 | $16.8M | $38.3M | ||
| Q1 25 | $16.4M | $41.3M | ||
| Q4 24 | $13.9M | $35.4M | ||
| Q3 24 | $12.7M | $40.5M | ||
| Q2 24 | $12.5M | $48.5M | ||
| Q1 24 | $11.2M | $50.5M |
| Q4 25 | $-9.5M | $-3.2M | ||
| Q3 25 | $-10.0M | $-6.3M | ||
| Q2 25 | $-5.8M | $-10.9M | ||
| Q1 25 | $-7.3M | $-40.2M | ||
| Q4 24 | $-7.3M | $-11.4M | ||
| Q3 24 | $3.5M | $-9.9M | ||
| Q2 24 | $-5.2M | $-4.6M | ||
| Q1 24 | $-3.2M | $-7.7M |
| Q4 25 | — | 38.6% | ||
| Q3 25 | — | 26.4% | ||
| Q2 25 | — | 33.1% | ||
| Q1 25 | — | 32.8% | ||
| Q4 24 | — | 28.7% | ||
| Q3 24 | — | 33.2% | ||
| Q2 24 | — | 35.7% | ||
| Q1 24 | — | 38.5% |
| Q4 25 | -48.8% | -10.9% | ||
| Q3 25 | -57.6% | -19.4% | ||
| Q2 25 | -30.9% | -30.5% | ||
| Q1 25 | -42.6% | -99.9% | ||
| Q4 24 | -52.8% | -36.6% | ||
| Q3 24 | 27.9% | -29.0% | ||
| Q2 24 | -41.3% | -14.3% | ||
| Q1 24 | -28.4% | -20.1% |
| Q4 25 | -50.1% | -8.9% | ||
| Q3 25 | -60.0% | -17.3% | ||
| Q2 25 | -34.7% | -28.3% | ||
| Q1 25 | -44.7% | -97.2% | ||
| Q4 24 | -52.8% | -32.3% | ||
| Q3 24 | 27.9% | -24.5% | ||
| Q2 24 | -41.3% | -9.5% | ||
| Q1 24 | -28.4% | -15.2% |
| Q4 25 | $-0.75 | $-0.02 | ||
| Q3 25 | $-0.94 | $-0.03 | ||
| Q2 25 | $-0.66 | $-0.06 | ||
| Q1 25 | $-0.67 | $-0.21 | ||
| Q4 24 | $-0.65 | $-0.06 | ||
| Q3 24 | $0.24 | $-0.05 | ||
| Q2 24 | $-0.42 | $-0.02 | ||
| Q1 24 | $-0.27 | $-0.04 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $169.6M | $104.5M |
| Total DebtLower is stronger | $428.4M | — |
| Stockholders' EquityBook value | $128.7M | $232.1M |
| Total Assets | $1.2B | $320.9M |
| Debt / EquityLower = less leverage | 3.33× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $169.6M | $104.5M | ||
| Q3 25 | $2.1M | $100.0M | ||
| Q2 25 | $4.2M | $105.0M | ||
| Q1 25 | $3.0M | $125.6M | ||
| Q4 24 | $115.2M | $142.5M | ||
| Q3 24 | $155.1M | $163.4M | ||
| Q2 24 | $116.0M | $187.4M | ||
| Q1 24 | $92.3M | $204.7M |
| Q4 25 | $428.4M | — | ||
| Q3 25 | $415.9M | — | ||
| Q2 25 | $338.6M | — | ||
| Q1 25 | $336.5M | — | ||
| Q4 24 | $373.8M | — | ||
| Q3 24 | $122.5M | — | ||
| Q2 24 | $119.7M | — | ||
| Q1 24 | $120.2M | — |
| Q4 25 | $128.7M | $232.1M | ||
| Q3 25 | $131.7M | $234.4M | ||
| Q2 25 | $135.3M | $238.8M | ||
| Q1 25 | $137.1M | $250.7M | ||
| Q4 24 | $139.1M | $289.4M | ||
| Q3 24 | $142.9M | $305.1M | ||
| Q2 24 | $142.5M | $329.4M | ||
| Q1 24 | $144.5M | $333.1M |
| Q4 25 | $1.2B | $320.9M | ||
| Q3 25 | $222.1M | $335.8M | ||
| Q2 25 | $220.3M | $354.0M | ||
| Q1 25 | $186.2M | $366.1M | ||
| Q4 24 | $967.0M | $420.2M | ||
| Q3 24 | $800.8M | $448.6M | ||
| Q2 24 | $756.2M | $475.3M | ||
| Q1 24 | $727.4M | $485.5M |
| Q4 25 | 3.33× | — | ||
| Q3 25 | 3.16× | — | ||
| Q2 25 | 2.50× | — | ||
| Q1 25 | 2.45× | — | ||
| Q4 24 | 2.69× | — | ||
| Q3 24 | 0.86× | — | ||
| Q2 24 | 0.84× | — | ||
| Q1 24 | 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 | $27.8M | $7.7M |
| Free Cash FlowOCF − Capex | $10.4M | $7.7M |
| FCF MarginFCF / Revenue | 55.0% | 21.0% |
| Capex IntensityCapex / Revenue | 91.8% | 0.0% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $25.0M | $-25.1M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.8M | $7.7M | ||
| Q3 25 | $13.4M | $-2.1M | ||
| Q2 25 | $13.9M | $-14.9M | ||
| Q1 25 | $951.0K | $-12.2M | ||
| Q4 24 | $9.1M | $-12.0M | ||
| Q3 24 | $1.7M | $-3.7M | ||
| Q2 24 | $1.3M | $-13.9M | ||
| Q1 24 | $1.1M | $-3.3M |
| Q4 25 | $10.4M | $7.7M | ||
| Q3 25 | $8.7M | $-2.2M | ||
| Q2 25 | $8.8M | $-16.2M | ||
| Q1 25 | $-2.9M | $-14.3M | ||
| Q4 24 | $-253.0K | $-13.3M | ||
| Q3 24 | $-601.0K | $-3.9M | ||
| Q2 24 | $-654.0K | $-14.1M | ||
| Q1 24 | $-630.0K | $-3.4M |
| Q4 25 | 55.0% | 21.0% | ||
| Q3 25 | 52.4% | -6.1% | ||
| Q2 25 | 52.2% | -42.3% | ||
| Q1 25 | -17.6% | -34.7% | ||
| Q4 24 | -1.8% | -37.5% | ||
| Q3 24 | -4.7% | -9.7% | ||
| Q2 24 | -5.2% | -29.1% | ||
| Q1 24 | -5.6% | -6.7% |
| Q4 25 | 91.8% | 0.0% | ||
| Q3 25 | 28.5% | 0.2% | ||
| Q2 25 | 30.3% | 3.3% | ||
| Q1 25 | 23.4% | 5.3% | ||
| Q4 24 | 66.9% | 3.5% | ||
| Q3 24 | 18.0% | 0.6% | ||
| Q2 24 | 15.3% | 0.5% | ||
| Q1 24 | 15.5% | 0.1% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 0.47× | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
BHM
| Residential Communities Segment | $11.4M | 61% |
| Scattered Single Family Homes Segment | $7.5M | 39% |
SMRT
| Hosted Services | $18.1M | 50% |
| Hardware Service | $12.5M | 34% |
| Smart Operations Solutions | $2.6M | 7% |
| Access Control | $2.0M | 5% |
| Other Smart Communities Solutions | $1.3M | 3% |
