Root, Inc. (ROOT)

Nasdaq · Fire, Marine & Casualty Insurance

One email a week from me: what it filed, which 13F holders added or cut, where its scores stand. Free.

Corporate structure

11 entities across 5 jurisdictions, 1 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-02-25 — see the exhibit.

Which other public companies file entities in the same places:

Delaware3 Ohio3 Texas3 Cayman Islands1 Florida1

Subsidiaries of Root, Inc. as disclosed in its SEC filing
Entity	Jurisdiction	Note
Caret Holdings, Inc.	Delaware
Root Enterprise, LLC	Delaware
Root Insurance Agency, LLC	Ohio
Root Insurance Company	Ohio
Root Lone Star Insurance Agency, Inc.	Texas
Root Property & Casualty Insurance Company	Ohio
Root Reinsurance Company, Ltd.	Cayman Islands	offshore centre
Root Scout, LLC	Delaware
Root Florida Insurance Company	Florida
Root Republic Managing General Agency, LLC	Texas
Root Texas Managing General Agency, LLC	Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 7

PASSReturn on assets positiveROA 2.4%
PASSOperating cash flow positiveOCF 207M
PASSReturn on assets improving2.1% → 2.4%
PASSCash flow exceeds earningsOCF 207M vs NI 40M
PASSLong-term debt ratio falling13.4% → 12.0% of assets
FAILCurrent ratio improvingno data
FAILNo share dilution17M → 17M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.79× → 0.91×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$346.8M	−$363.0M	−$289.0M	—	75,500,000
FY2021	$345.4M	−$521.1M	−$408.0M	—	249,200,000
FY2022	$310.8M	−$297.7M	−$210.6M	—	14,100,000
FY2023	$455.0M	−$147.4M	−$33.8M	—	14,400,000
FY2024	$1.2B	$30.9M	$195.3M	—	16,900,000
FY2025	$1.5B	$40.3M	$206.5M	—	17,100,000

Ownership flow

12 institutions tracked — 9 added, 1 reduced, 2 opened a new position.

Institutional holders of Root, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
BlackRock, Inc.	Index	1,149,263	+98,936	$64.3M
CITADEL ADVISORS LLC	Hedge fund	343,098	+37,249	$19.2M
STATE STREET CORP	Index	290,772	+24,833	$16.3M
BANK OF AMERICA CORP /DE/	Active fund	105,524	−22,057	$5.9M
AQR CAPITAL MANAGEMENT LLC	Hedge fund	42,798	+21,512	$2.4M
JPMORGAN CHASE & CO	Active fund	62,994	+12,366	$3.6M
MORGAN STANLEY	Active fund	148,225	+7,148	$8.3M
RENAISSANCE TECHNOLOGIES LLC	Hedge fund	245,281	+6,500	$13.7M
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	125,904	+2,379	$7.0M
FMR LLC	Active fund	1,712	+454	$95,735

Point72 Asset Management, L.P., NORGES BANK hold a position with no prior filing to compare against, so their change is unknown rather than zero — and they are left out of the totals above.

From 13F filings, which cover institutions managing over $100m and are filed up to 45 days after the quarter ends — so this is a considered position, not a live one, and it is not the whole shareholder register.

Identity

CIK: 0001788882
SIC: 6331 · Fire, Marine & Casualty Insurance
Incorporated: DE
Headquarters: COLUMBUS, OH

Ownership

Institutional: 64.7%
Institutions: 231
Insiders: 5.9%

Ownership percentages are a vendor aggregate, not a filing — unlike everything else on this page.

Other fire, marine & casualty insurance companies

Root, Inc. files under SIC 6331 — all 20 fire, marine & casualty insurance companies compared on assets and F-score.

BERKSHIRE HATHAWAY INCBRK-B Chubb LtdCB AMERICAN INTERNATIONAL GROUP, INC.AIG ALLSTATE CORPALL HARTFORD INSURANCE GROUP, INC.HIG CNA FINANCIAL CORPCNA

Questions about Root, Inc.

How many subsidiaries does Root, Inc. file with the SEC?: 11, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by Delaware, Ohio, Texas. 1 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.
Is Root, Inc. financially healthy?: Root, Inc. scores 6 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.
Who are the largest institutional holders of Root, Inc.?: Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), CITADEL ADVISORS LLC (adding), STATE STREET CORP (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.

This page is one panel of the terminal

The structure map above is the Corporate Blueprint, and in the desktop it is interactive — click any entity to re-centre the map on it and walk the ownership chain. It sits alongside the screener, the scorecard and the filings lab on one desk, on your machine.

Download the terminal See pricing

Sourced from SEC EDGAR primary filings. Figures are as reported by the company and are not investment advice. Scores are standard published screens computed from those filings; every input is shown above so you can check the arithmetic.

Corporate structure

11 entities across 5 jurisdictions, 1 in offshore financial centres. Read directly from the company’s own 10-K EX-21 filed 2026-02-25 — see the exhibit.

Which other public companies file entities in the same places:

Delaware3 Ohio3 Texas3 Cayman Islands1 Florida1

Entity

Jurisdiction

Note

Caret Holdings, Inc.

Delaware

Root Enterprise, LLC

Delaware

Root Insurance Agency, LLC

Ohio

Root Insurance Company

Ohio

Root Lone Star Insurance Agency, Inc.

Texas

Root Property & Casualty Insurance Company

Ohio

Root Reinsurance Company, Ltd.

Cayman Islands

offshore centre

Root Scout, LLC

Delaware

Root Florida Insurance Company

Florida

Root Republic Managing General Agency, LLC

Texas

Root Texas Managing General Agency, LLC

Texas

Financial health

Two standard screens, computed from the XBRL in FY2025 against FY2024. Every test shows the numbers behind it — a score with its inputs hidden is a number you cannot check.

Piotroski F-score

6 / 7

PASSReturn on assets positiveROA 2.4%
PASSOperating cash flow positiveOCF 207M
PASSReturn on assets improving2.1% → 2.4%
PASSCash flow exceeds earningsOCF 207M vs NI 40M
PASSLong-term debt ratio falling13.4% → 12.0% of assets
FAILCurrent ratio improvingno data
FAILNo share dilution17M → 17M shares
FAILGross margin improvingno gross profit reported
PASSAsset turnover improving0.79× → 0.91×

Six-year record

Year	Revenue	Net income	Free cash flow	Gross margin	Shares
FY2020	$346.8M	−$363.0M	−$289.0M	—	75,500,000
FY2021	$345.4M	−$521.1M	−$408.0M	—	249,200,000
FY2022	$310.8M	−$297.7M	−$210.6M	—	14,100,000
FY2023	$455.0M	−$147.4M	−$33.8M	—	14,400,000
FY2024	$1.2B	$30.9M	$195.3M	—	16,900,000
FY2025	$1.5B	$40.3M	$206.5M	—	17,100,000

Ownership flow

12 institutions tracked — 9 added, 1 reduced, 2 opened a new position.

Institutional holders of Root, Inc. and their share-count change
Manager	Kind	Shares	Change	Value
BlackRock, Inc.	Index	1,149,263	+98,936	$64.3M
CITADEL ADVISORS LLC	Hedge fund	343,098	+37,249	$19.2M
STATE STREET CORP	Index	290,772	+24,833	$16.3M
BANK OF AMERICA CORP /DE/	Active fund	105,524	−22,057	$5.9M
AQR CAPITAL MANAGEMENT LLC	Hedge fund	42,798	+21,512	$2.4M
JPMORGAN CHASE & CO	Active fund	62,994	+12,366	$3.6M
MORGAN STANLEY	Active fund	148,225	+7,148	$8.3M
RENAISSANCE TECHNOLOGIES LLC	Hedge fund	245,281	+6,500	$13.7M
PRICE T ROWE ASSOCIATES INC /MD/	Active fund	125,904	+2,379	$7.0M
FMR LLC	Active fund	1,712	+454	$95,735

Point72 Asset Management, L.P., NORGES BANK hold a position with no prior filing to compare against, so their change is unknown rather than zero — and they are left out of the totals above.

Questions about Root, Inc.

How many subsidiaries does Root, Inc. file with the SEC?

11, listed in its most recent exhibit 21. They are incorporated across 5 jurisdictions, led by Delaware, Ohio, Texas. 1 of them sit in offshore financial centres. That exhibit is filed with the company's annual report and is the company's own list, not an estimate.

Is Root, Inc. financially healthy?

Root, Inc. scores 6 out of 7 on the Piotroski F-score. Only 7 of the nine tests could be computed from what it filed; the rest need a prior year it has not reported. Every test and the numbers behind it are shown above, so the arithmetic is checkable rather than something you have to take on trust.

Who are the largest institutional holders of Root, Inc.?

Among the managers tracked here, the biggest positions as of the 2026-Q2 13F filings are BlackRock, Inc. (adding), CITADEL ADVISORS LLC (adding), STATE STREET CORP (adding). Direction is the change in share count against that manager's own previous filing; managers with no prior filing are left out rather than counted as new buyers.