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Side-by-side financial comparison of Bluerock Homes Trust, Inc. (BHM) and Zeo Energy Corp. (ZEO). Click either name above to swap in a different company.
Bluerock Homes Trust, Inc. is the larger business by last-quarter revenue ($18.9M vs $18.6M, roughly 1.0× Zeo Energy Corp.). Zeo Energy Corp. runs the higher net margin — -10.8% vs -50.1%, a 39.3% gap on every dollar of revenue. On growth, Bluerock Homes Trust, Inc. posted the faster year-over-year revenue change (35.9% vs -0.4%). Bluerock Homes Trust, Inc. produced more free cash flow last quarter ($10.4M vs $2.3M). Over the past eight quarters, Bluerock Homes Trust, Inc.'s revenue compounded faster (30.1% CAGR vs -4.0%).
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.
BHM vs ZEO — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $18.9M | $18.6M |
| Net Profit | $-9.5M | $-2.0M |
| Gross Margin | — | — |
| Operating Margin | -48.8% | -11.8% |
| Net Margin | -50.1% | -10.8% |
| Revenue YoY | 35.9% | -0.4% |
| Net Profit YoY | -29.9% | -360.9% |
| EPS (diluted) | $-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 | $18.9M | $18.6M | ||
| Q3 25 | $16.6M | $23.9M | ||
| Q2 25 | $16.8M | $18.1M | ||
| Q1 25 | $16.4M | $8.8M | ||
| Q4 24 | $13.9M | $18.6M | ||
| Q3 24 | $12.7M | $19.7M | ||
| Q2 24 | $12.5M | $14.8M | ||
| Q1 24 | $11.2M | $20.1M |
| Q4 25 | $-9.5M | $-2.0M | ||
| Q3 25 | $-10.0M | $-3.2M | ||
| Q2 25 | $-5.8M | $-2.4M | ||
| Q1 25 | $-7.3M | $-6.4M | ||
| Q4 24 | $-7.3M | $-435.3K | ||
| Q3 24 | $3.5M | $-424.3K | ||
| Q2 24 | $-5.2M | $-277.8K | ||
| Q1 24 | $-3.2M | $-1.5M |
| Q4 25 | — | — | ||
| Q3 25 | — | 57.9% | ||
| Q2 25 | — | 59.8% | ||
| Q1 25 | — | 99.3% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | 50.2% | ||
| Q2 24 | — | 52.3% | ||
| Q1 24 | — | — |
| Q4 25 | -48.8% | -11.8% | ||
| Q3 25 | -57.6% | -8.3% | ||
| Q2 25 | -30.9% | -15.8% | ||
| Q1 25 | -42.6% | -153.8% | ||
| Q4 24 | -52.8% | -6.0% | ||
| Q3 24 | 27.9% | -15.2% | ||
| Q2 24 | -41.3% | -18.0% | ||
| Q1 24 | -28.4% | -20.1% |
| Q4 25 | -50.1% | -10.8% | ||
| Q3 25 | -60.0% | -13.5% | ||
| Q2 25 | -34.7% | -13.3% | ||
| Q1 25 | -44.7% | -72.4% | ||
| Q4 24 | -52.8% | -2.3% | ||
| Q3 24 | 27.9% | -2.2% | ||
| Q2 24 | -41.3% | -1.9% | ||
| Q1 24 | -28.4% | -7.6% |
| Q4 25 | $-0.75 | — | ||
| Q3 25 | $-0.94 | — | ||
| Q2 25 | $-0.66 | — | ||
| Q1 25 | $-0.67 | $-0.48 | ||
| Q4 24 | $-0.65 | $1.11 | ||
| Q3 24 | $0.24 | $-0.08 | ||
| Q2 24 | $-0.42 | $0.03 | ||
| Q1 24 | $-0.27 | $-1.54 |
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 | $6.1M |
| Total DebtLower is stronger | $428.4M | $79.1K |
| Stockholders' EquityBook value | $128.7M | $5.3M |
| Total Assets | $1.2B | $56.9M |
| Debt / EquityLower = less leverage | 3.33× | 0.01× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $169.6M | $6.1M | ||
| Q3 25 | $2.1M | $3.9M | ||
| Q2 25 | $4.2M | $68.7K | ||
| Q1 25 | $3.0M | $2.9M | ||
| Q4 24 | $115.2M | $5.6M | ||
| Q3 24 | $155.1M | $4.3M | ||
| Q2 24 | $116.0M | $5.3M | ||
| Q1 24 | $92.3M | — |
| Q4 25 | $428.4M | $79.1K | ||
| Q3 25 | $415.9M | $84.6K | ||
| Q2 25 | $338.6M | $642.8K | ||
| Q1 25 | $336.5M | $715.4K | ||
| Q4 24 | $373.8M | $787.7K | ||
| Q3 24 | $122.5M | $858.6K | ||
| Q2 24 | $119.7M | $1.6M | ||
| Q1 24 | $120.2M | $748.8K |
| Q4 25 | $128.7M | $5.3M | ||
| Q3 25 | $131.7M | $-1.7M | ||
| Q2 25 | $135.3M | $-59.4M | ||
| Q1 25 | $137.1M | $-23.1M | ||
| Q4 24 | $139.1M | $-88.9M | ||
| Q3 24 | $142.9M | $-39.3M | ||
| Q2 24 | $142.5M | $-53.0M | ||
| Q1 24 | $144.5M | $-173.0M |
| Q4 25 | $1.2B | $56.9M | ||
| Q3 25 | $222.1M | $58.5M | ||
| Q2 25 | $220.3M | $46.2M | ||
| Q1 25 | $186.2M | $47.4M | ||
| Q4 24 | $967.0M | $61.0M | ||
| Q3 24 | $800.8M | $47.1M | ||
| Q2 24 | $756.2M | $49.1M | ||
| Q1 24 | $727.4M | $50.1M |
| Q4 25 | 3.33× | 0.01× | ||
| 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 | $2.4M |
| Free Cash FlowOCF − Capex | $10.4M | $2.3M |
| FCF MarginFCF / Revenue | 55.0% | 12.2% |
| Capex IntensityCapex / Revenue | 91.8% | 0.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $25.0M | $-9.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $27.8M | $2.4M | ||
| Q3 25 | $13.4M | $-6.6M | ||
| Q2 25 | $13.9M | $-2.3M | ||
| Q1 25 | $951.0K | $-2.3M | ||
| Q4 24 | $9.1M | $3.5M | ||
| Q3 24 | $1.7M | $162.2K | ||
| Q2 24 | $1.3M | $-2.2M | ||
| Q1 24 | $1.1M | $-10.2M |
| Q4 25 | $10.4M | $2.3M | ||
| Q3 25 | $8.7M | $-6.8M | ||
| Q2 25 | $8.8M | $-2.7M | ||
| Q1 25 | $-2.9M | $-2.6M | ||
| Q4 24 | $-253.0K | $3.4M | ||
| Q3 24 | $-601.0K | $116.5K | ||
| Q2 24 | $-654.0K | $-2.3M | ||
| Q1 24 | $-630.0K | $-10.4M |
| Q4 25 | 55.0% | 12.2% | ||
| Q3 25 | 52.4% | -28.6% | ||
| Q2 25 | 52.2% | -15.0% | ||
| Q1 25 | -17.6% | -30.0% | ||
| Q4 24 | -1.8% | 18.2% | ||
| Q3 24 | -4.7% | 0.6% | ||
| Q2 24 | -5.2% | -15.6% | ||
| Q1 24 | -5.6% | -51.5% |
| Q4 25 | 91.8% | 0.9% | ||
| Q3 25 | 28.5% | 1.0% | ||
| Q2 25 | 30.3% | 2.4% | ||
| Q1 25 | 23.4% | 4.2% | ||
| Q4 24 | 66.9% | 0.5% | ||
| Q3 24 | 18.0% | 0.2% | ||
| Q2 24 | 15.3% | 0.7% | ||
| Q1 24 | 15.5% | 1.1% |
| 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% |
ZEO
| Nonrelated Party | $18.1M | 98% |
| Related Party | $432.1K | 2% |
