Bluerock Homes Trust, Inc. (BHM) intrinsic value & 10-year financials

Bluerock Homes Trust, Inc. (BHM) has a Graham intrinsic value of $296.62 per share. At $8.05 on Oct 17, 2026, the stock trades 97% below that value. Over the last 6 fiscal years revenue grew 64.6% a year to $68.1M, with an average return on invested capital of 3.1%.

Graham intrinsic value
$296.62
Share price (Oct 17, 2026)
$8.05
Price vs Graham value
97% below
Market cap
$31.3M
Revenue (FY2025)
$68.1M
Revenue growth (6-yr CAGR)
64.6%
ROIC (10-yr avg)
3.1%
Free cash flow (FY2025)
$10.4M

BHM 10-year financial history

Fiscal year Revenue Net income EPS (diluted) Free cash flow Operating margin ROIC
FY2025 $68.1M -$32.6M -$3.02 $10.4M — -9.8%
FY2024 $48.6M -$12.1M -$1.10 -$253.0K — -5.5%
FY2023 $41.0M -$15.8M -$1.30 $4.4M — -9.2%
FY2022 $32.9M -$1.0M -$0.26 -$15.2M -30.3% -0.8%
FY2021 $9.3M $34.3M $8.93 $8.1M 4.2% 40.6%
FY2020 — — — — — —

Source: annual 10-K filings on SEC EDGAR. Figures in USD.

Executive summary

Bluerock Homes Trust, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.

Bluerock Homes Trust, Inc. has historically struggled to out-earn its cost of capital, averaging just 3.1% ROIC.

Bluerock Homes Trust, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.

Benjamin Graham lens

Under Benjamin Graham's formula using SEC EDGAR fundamentals, Bluerock Homes Trust, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $296.62 per share.

BHM stock: frequently asked questions

What is the intrinsic value of Bluerock Homes Trust, Inc. (BHM) stock?

Using Benjamin Graham's revised formula, V = EPS × (8.5 + 2g) × 4.4 / Y, with reported diluted earnings per share, a 15.0% normalized growth rate (capped at 15%) and a 5.1% AAA corporate bond yield, BHM's intrinsic value is about $296.62 per share.

Is BHM stock undervalued?

At $8.05 (close on Oct 17, 2026), BHM trades 97% below its Graham value of $296.62. On Graham's terms that leaves a margin of safety. A formula is a starting point for research, not a recommendation.

Does Bluerock Homes Trust, Inc. generate free cash flow?

Bluerock Homes Trust, Inc. generated $10.4M of free cash flow (operating cash flow minus capital expenditures) in fiscal 2025. Free cash flow was positive in 3 of the last 5 reported years.

What is BHM's return on invested capital?

Average ROIC over the last 6 fiscal years was 3.1%, and average return on equity was -4.6%. Sustained ROIC above about 15% usually points to a durable competitive advantage.

Where does this BHM data come from?

From Bluerock Homes Trust, Inc.'s annual 10-K filings on SEC EDGAR, most recently filed May 7, 2026. Prices are end-of-day snapshots; valuations are formula outputs, not investment advice.

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