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Armada Hoffler Properties, Inc.（AHH）与Bluerock Homes Trust, Inc.（BHM）财务数据对比。点击上方公司名可切换其他公司
Armada Hoffler Properties, Inc.的季度营收约是Bluerock Homes Trust, Inc.的4.0倍（$75.6M vs $18.9M）。Armada Hoffler Properties, Inc.净利率更高（3.1% vs -50.1%，领先53.3%）。Bluerock Homes Trust, Inc.同比增速更快（36.9% vs 0.8%）。过去两年Bluerock Homes Trust, Inc.的营收复合增速更高（30.1% vs -22.8%）
Armada Hoffler Properties是一家公开上市的房地产投资信托，业务覆盖美国大西洋中部及东南部地区，开发、持有并运营涵盖办公、零售、多户住宅的多元化优质物业组合，同时为第三方客户提供全链条建筑开发服务。
Bluerock Homes Trust, Inc.是一家总部位于美国的房地产投资信托企业，主要收购、持有并运营优质单户住宅租赁资产，面向美国高增长郊区市场的中等收入租户，聚焦人口基本面向好、租赁需求旺盛的区域布局。
AHH vs BHM — 直观对比
营收规模更大
AHH
是对方的4.0倍
$18.9M
营收增速更快
BHM
高出36.1%
0.8%
净利率更高
AHH
高出53.3%
-50.1%
两年增速更快
BHM
近两年复合增速
-22.8%
损益表 — Q4 2025 vs Q4 2025
| 指标 | | |
|---|---|---|
| 营收 | $75.6M | $18.9M |
| 净利润 | $2.4M | $-9.5M |
| 毛利率 | — | — |
| 营业利润率 | 31.0% | -48.8% |
| 净利率 | 3.1% | -50.1% |
| 营收同比 | 0.8% | 36.9% |
| 净利润同比 | -89.8% | -29.9% |
| 每股收益（稀释后） | $0.00 | $-0.75 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收AHHBHM
| Q4 25 | $75.6M | $18.9M | ||
| Q3 25 | $23.2M | $16.6M | ||
| Q2 25 | $32.0M | $16.8M | ||
| Q1 25 | $46.6M | $16.4M | ||
| Q4 24 | $75.0M | $13.8M | ||
| Q3 24 | $114.4M | $12.7M | ||
| Q2 24 | $116.8M | $12.5M | ||
| Q1 24 | $127.0M | $11.2M |
净利润AHHBHM
| Q4 25 | $2.4M | $-9.5M | ||
| Q3 25 | $80.0K | $-10.0M | ||
| Q2 25 | $5.9M | $-5.8M | ||
| Q1 25 | $-2.8M | $-7.3M | ||
| Q4 24 | $23.4M | $-7.3M | ||
| Q3 24 | $-5.0M | $3.5M | ||
| Q2 24 | $3.2M | $-5.2M | ||
| Q1 24 | $14.1M | $-3.2M |
毛利率AHHBHM
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 45.0% | — | ||
| Q2 24 | 41.8% | — | ||
| Q1 24 | 37.9% | — |
营业利润率AHHBHM
| Q4 25 | 31.0% | -48.8% | ||
| Q3 25 | 91.5% | -57.6% | ||
| Q2 25 | 63.9% | -30.9% | ||
| Q1 25 | 33.8% | -42.6% | ||
| Q4 24 | 50.1% | -52.8% | ||
| Q3 24 | 19.0% | 27.9% | ||
| Q2 24 | 11.9% | -41.3% | ||
| Q1 24 | 15.1% | -28.4% |
净利率AHHBHM
| Q4 25 | 3.1% | -50.1% | ||
| Q3 25 | 0.3% | -60.0% | ||
| Q2 25 | 18.6% | -34.7% | ||
| Q1 25 | -6.0% | -44.7% | ||
| Q4 24 | 31.2% | -52.8% | ||
| Q3 24 | -4.4% | 27.9% | ||
| Q2 24 | 2.7% | -41.3% | ||
| Q1 24 | 11.1% | -28.4% |
每股收益（稀释后）AHHBHM
| Q4 25 | $0.00 | $-0.75 | ||
| Q3 25 | $-0.04 | $-0.94 | ||
| Q2 25 | $0.04 | $-0.66 | ||
| Q1 25 | $-0.07 | $-0.67 | ||
| Q4 24 | $0.28 | $-0.65 | ||
| Q3 24 | $-0.11 | $0.24 | ||
| Q2 24 | $0.00 | $-0.42 | ||
| Q1 24 | $0.17 | $-0.27 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $49.1M | $169.6M |
| 总债务越低越好 | $1.5B | $428.4M |
| 股东权益账面价值 | $627.8M | $128.7M |
| 总资产 | $2.6B | $1.2B |
| 负债/权益比越低杠杆越低 | 2.43× | 3.33× |
8季度趋势，按日历期对齐
现金及短期投资AHHBHM
| Q4 25 | $49.1M | $169.6M | ||
| Q3 25 | $46.5M | $2.1M | ||
| Q2 25 | $52.1M | $4.2M | ||
| Q1 25 | $45.7M | $3.0M | ||
| Q4 24 | $31.9M | $115.2M | ||
| Q3 24 | $43.9M | $155.1M | ||
| Q2 24 | $20.3M | $116.0M | ||
| Q1 24 | $41.9M | $92.3M |
总债务AHHBHM
| Q4 25 | $1.5B | $428.4M | ||
| Q3 25 | $1.5B | $415.9M | ||
| Q2 25 | $1.4B | $338.6M | ||
| Q1 25 | $1.3B | $336.5M | ||
| Q4 24 | $1.3B | $373.8M | ||
| Q3 24 | $1.3B | $122.5M | ||
| Q2 24 | $1.4B | $119.7M | ||
| Q1 24 | $1.4B | $120.2M |
股东权益AHHBHM
| Q4 25 | $627.8M | $128.7M | ||
| Q3 25 | $638.8M | $131.7M | ||
| Q2 25 | $652.0M | $135.3M | ||
| Q1 25 | $657.4M | $137.1M | ||
| Q4 24 | $670.6M | $139.1M | ||
| Q3 24 | $663.9M | $142.9M | ||
| Q2 24 | $562.7M | $142.5M | ||
| Q1 24 | $571.4M | $144.5M |
总资产AHHBHM
| Q4 25 | $2.6B | $1.2B | ||
| Q3 25 | $2.6B | $222.1M | ||
| Q2 25 | $2.6B | $220.3M | ||
| Q1 25 | $2.5B | $186.2M | ||
| Q4 24 | $2.5B | $967.0M | ||
| Q3 24 | $2.6B | $800.8M | ||
| Q2 24 | $2.6B | $756.2M | ||
| Q1 24 | $2.6B | $727.4M |
负债/权益比AHHBHM
| Q4 25 | 2.43× | 3.33× | ||
| Q3 25 | 2.33× | 3.16× | ||
| Q2 25 | 2.22× | 2.50× | ||
| Q1 25 | 2.01× | 2.45× | ||
| Q4 24 | 1.93× | 2.69× | ||
| Q3 24 | 2.00× | 0.86× | ||
| Q2 24 | 2.52× | 0.84× | ||
| Q1 24 | 2.50× | 0.83× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | — | $-491.0K |
| 自由现金流经营现金流 - 资本支出 | — | $-4.2M |
| 自由现金流率自由现金流/营收 | — | -22.1% |
| 资本支出强度资本支出/营收 | — | 19.6% |
| 现金转化率经营现金流/净利润 | — | — |
| 过去12个月自由现金流最近4个季度 | — | $10.4M |
8季度趋势，按日历期对齐
经营现金流AHHBHM
| Q4 25 | — | $-491.0K | ||
| Q3 25 | $26.3M | $13.4M | ||
| Q2 25 | $11.1M | $13.9M | ||
| Q1 25 | $107.0K | $951.0K | ||
| Q4 24 | $20.8M | $5.0M | ||
| Q3 24 | $27.3M | $1.7M | ||
| Q2 24 | $17.4M | $1.3M | ||
| Q1 24 | $46.5M | $1.1M |
自由现金流AHHBHM
| Q4 25 | — | $-4.2M | ||
| Q3 25 | — | $8.7M | ||
| Q2 25 | — | $8.8M | ||
| Q1 25 | — | $-2.9M | ||
| Q4 24 | — | $1.6M | ||
| Q3 24 | — | $-601.0K | ||
| Q2 24 | — | $-654.0K | ||
| Q1 24 | — | $-630.0K |
自由现金流率AHHBHM
| Q4 25 | — | -22.1% | ||
| Q3 25 | — | 52.4% | ||
| Q2 25 | — | 52.2% | ||
| Q1 25 | — | -17.6% | ||
| Q4 24 | — | 11.8% | ||
| Q3 24 | — | -4.7% | ||
| Q2 24 | — | -5.2% | ||
| Q1 24 | — | -5.6% |
资本支出强度AHHBHM
| Q4 25 | — | 19.6% | ||
| Q3 25 | — | 28.5% | ||
| Q2 25 | — | 30.3% | ||
| Q1 25 | — | 23.4% | ||
| Q4 24 | — | 24.4% | ||
| Q3 24 | — | 18.0% | ||
| Q2 24 | — | 15.3% | ||
| Q1 24 | — | 15.5% |
现金转化率AHHBHM
| Q4 25 | — | — | ||
| Q3 25 | 328.63× | — | ||
| Q2 25 | 1.87× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 0.89× | — | ||
| Q3 24 | — | 0.47× | ||
| Q2 24 | 5.48× | — | ||
| Q1 24 | 3.30× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
AHH
| Office Real Estate Segment | $28.8M | 38% |
| Retail Real Estate Segment | $25.4M | 34% |
| Multifamily Residential Real Estate | $17.7M | 23% |
| Real Estate Financing Segment | $3.6M | 5% |
BHM
| Residential Communities Segment | $11.4M | 61% |
| Scattered Single Family Homes Segment | $7.5M | 39% |
