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In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. This is a conservative way of estimating the company's value.
Bluerock Homes Trust's Net-Net Working Capital for the quarter that ended in Mar. 2026 was $-204.08.
The industry rank for Bluerock Homes Trust's Net-Net Working Capital or its related term are showing as below:
BHM's Price-to-Net-Net-Working-Capital is not ranked *
in the REITs industry.
Industry Median: 16.75 * Ranked among companies with meaningful Price-to-Net-Net-Working-Capital only.
Bluerock Homes Trust (AMEX:BHM) Net-Net Working Capital Explanation
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Graham's strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their net-net value. They are collected under our Net-Net screener.
Bluerock Homes Trust Net-Net Working Capital Related Terms
Bluerock Homes Trust Net-Net Working Capital Historical Data
* Premium members only.
The historical data trend for Bluerock Homes Trust's Net-Net Working Capital can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Bluerock Homes Trust Net-Net Working Capital Chart
BHM vs CLPR, MRTI, ELME: Net-Net Working Capital Comparison
For the REIT - Residential subindustry, Bluerock Homes Trust's Price-to-Net-Net-Working-Capital, along with its competitors' market caps and Price-to-Net-Net-Working-Capital data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Bluerock Homes Trust Price-to-Net-Net-Working-Capital vs REITs Industry
For the REITs industry and Real Estate sector, Bluerock Homes Trust's Price-to-Net-Net-Working-Capital distribution charts can be found below:
* The bar in red indicates where Bluerock Homes Trust's Price-to-Net-Net-Working-Capital falls into.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In calculating the Net-Net Working Capital (NNWC), Benjamin Graham assumed that a company's accounts receivable is only worth 75% its value, its inventory is only worth 50% of its value, but its liabilities have to be paid in full.
In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
This is a conservative way of estimating the company's value.
What does a Net-Net Working Capital of $-204.08 mean?
Bluerock Homes Trust (BHM) has a Net-Net Working Capital of $-204.08 as of Mar. 2026. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Bluerock Homes Trust According to the industry distribution chart, Bluerock Homes Trust ranks #999999 out of 112 companies in the REITs industry.
Is Bluerock Homes Trust's Net-Net Working Capital too high?
Bluerock Homes Trust's current Net-Net Working Capital is $-204.08. Based on the distribution chart, Bluerock Homes Trust ranks #999999 out of 112 companies in the REITs industry, which is in the bottom quartile relative to peers. Overall, Bluerock Homes Trust has a GF Score™ of 63/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Bluerock Homes Trust's Net-Net Working Capital compare to CLPR and MRTI?
According to the REITs industry distribution chart, Bluerock Homes Trust ranks #999999 out of 112 companies for Net-Net Working Capital. This places Bluerock Homes Trust in the lower half of its industry. The industry median Net-Net Working Capital is 16.75. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net-Net Working Capital for a REITs company?
The median Net-Net Working Capital among REITs companies is 16.75, based on 112 companies in the industry. Companies in the top quartile (top 25%) have a Net-Net Working Capital significantly above this median, while those in the bottom quartile fall well below. However, Net-Net Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Net-Net Working Capital mean?
A high Net-Net Working Capital can signal that a stock is expensive relative to its fundamentals. Ben Graham defined net-net working capital as the per-share sum of cash, 75% of receivables and 50% of inventory less total liabilities. View historical data on Bluerock Homes Trust For the REITs industry, the median Net-Net Working Capital is 16.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Bluerock Homes Trust's current Net-Net Working Capital is $-204.08. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Bluerock Homes Trust stock overvalued right now?
Based on GuruFocus' analysis, Bluerock Homes Trust (BHM) is currently considered Possible Value Trap. The stock's GF Value™ is $23.47, compared to a current price of $8.62 — trading 63.3% below its estimated fair value. The current Net-Net Working Capital is $-204.08. Bluerock Homes Trust's overall GF Score™ is 63/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net-Net Working Capital calculated?
Net-Net Working Capital is calculated from a company's financial statements. For Bluerock Homes Trust (BHM), the current Net-Net Working Capital is $-204.08 as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Bluerock Homes Trust (BHM) Overvalued in 2026?
Based on GuruFocus' analysis, Bluerock Homes Trust stock appears to be undervalued.
The current stock price of $8.62 is trading 63.3% below its estimated GF Value™ of $23.47.
GuruFocus considers Bluerock Homes Trust to be Possible Value Trap.
Key valuation signals for BHM:
Net-Net Working Capital: $-204.08
GF Value™: $23.47 vs. price of $8.62 (63.3% below fair value)
No single metric tells the full story. See the BHM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Bluerock Homes Trust Inc owns and operates a portfolio of institutional residential properties including single-family homes, build-to-rent communities, and other residential communities located in attractive markets with a focus on the knowledge-economy and high-quality of life growth markets of the Sunbelt and Western United States. The company's principal objective is to generate attractive risk-adjusted returns on investments where it believes it can drive growth in funds from operations and net asset value by acquiring residential units, developing residential communities, and through value-add renovations. The company has two reportable segments, consisting of Residential Communities, which derives maximum revenue; and Scattered Single-family homes.
63GF Score
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