Root, Inc. Financials

ROOT

Source SEC Filings (10-K/10-Q) Updated Sep 30, 2025 Currency USD FYE December

This page shows Root, Inc. (ROOT) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 7 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Financial Health Signals

Financial Profile 70/100

Based on FY2024 annual data. Scores normalized against common benchmarks. How we calculate these scores

Profitability

Root, Inc. has an operating margin of 6.7%, meaning the company retains $7 of operating profit per $100 of revenue. This results in a moderate score of 33/100, indicating healthy but not exceptional operating efficiency. This is up from -22.3% the prior year.

Growth

100

Root, Inc.'s revenue surged 158.6% year-over-year to $1.2B, reflecting rapid business expansion. This strong growth earns a score of 100/100.

Leverage

Root, Inc. carries a low D/E ratio of 0.98, meaning only $0.98 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 75/100, indicating a strong balance sheet with room for future borrowing.

Cash Flow

Root, Inc. converts 16.6% of revenue into free cash flow ($195.3M). This strong cash generation earns a score of 83/100.

Returns

Root, Inc.'s ROE of 15.2% shows moderate profitability relative to equity, earning a score of 61/100.

Piotroski F-Score Neutral

6/9

Root, Inc. passes 6 of 9 financial strength tests. All 4 profitability signals pass (positive income, cash flow, and earnings quality), all 1 leverage/liquidity signals pass, both operating efficiency signals pass.

Earnings Quality Cash-Backed

6.33x

For every $1 of reported earnings, Root, Inc. generates $6.33 in operating cash flow ($195.7M OCF vs $30.9M net income). This indicates profits are well-supported by actual cash generation, not accounting adjustments.

Interest Coverage At Risk

1.9x

Root, Inc. earns $1.9 in operating income for every $1 of interest expense ($78.5M vs $42.2M). This narrow margin raises concern about the company's ability to service its debt if operating income declines.

Key Financial Metrics

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Revenue

$1.2B

YoY+158.6%

5Y CAGR+32.3%

Root, Inc. generated $1.2B in revenue in fiscal year 2024. This represents an increase of 158.6% from the prior year.

EBITDA

$93.4M

YoY+205.3%

Root, Inc.'s EBITDA was $93.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents an increase of 205.3% from the prior year.

Free Cash Flow

$195.3M

YoY+677.8%

Root, Inc. generated $195.3M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 677.8% from the prior year.

Net Income

$30.9M

YoY+121.0%

Root, Inc. reported $30.9M in net income in fiscal year 2024. This represents an increase of 121.0% from the prior year.

EPS (Diluted)

$1.83

YoY+117.9%

Root, Inc. earned $1.83 per diluted share (EPS) in fiscal year 2024. This represents an increase of 117.9% from the prior year.

Cash & Debt

$599.3M

YoY-11.7%

5Y CAGR+8.9%

Root, Inc. held $599.3M in cash against $200.1M in long-term debt as of fiscal year 2024.

Dividends Per Share

N/A

Shares Outstanding

N/A

Gross Margin

N/A

Operating Margin

6.7%

YoY+28.9pp

5Y CAGR+96.3pp

Root, Inc.'s operating margin was 6.7% in fiscal year 2024, reflecting core business profitability. This is up 28.9 percentage points from the prior year.

Net Margin

2.6%

YoY+35.0pp

5Y CAGR+99.9pp

Root, Inc.'s net profit margin was 2.6% in fiscal year 2024, showing the share of revenue converted to profit. This is up 35.0 percentage points from the prior year.

Return on Equity

15.2%

Root, Inc.'s ROE was 15.2% in fiscal year 2024, measuring profit generated per dollar of shareholder equity.

R&D Spending

N/A

Share Buybacks

N/A

Capital Expenditures

$400K

YoY+100.0%

5Y CAGR-42.9%

Root, Inc. invested $400K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents an increase of 100.0% from the prior year.

ROOT Income Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Revenue	$1.2B+158.6%	$455.0M+46.4%	$310.8M-10.0%	$345.4M-0.4%	$346.8M+19.5%	$290.2M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$69.5M-16.6%	$83.3M-34.6%	$127.4M+30.5%	$97.6M+24.3%	$78.5M+82.6%	$43.0M
Operating Income	$78.5M+177.5%	-$101.3M+61.5%	-$263.1M+45.8%	-$485.2M-70.1%	-$285.3M-9.7%	-$260.1M
Interest Expense	$42.2M-8.5%	$46.1M+33.2%	$34.6M+73.0%	$20.0M-74.3%	$77.7M+248.4%	$22.3M
Income Tax	$0	$0	$0	$0	$0	$0
Net Income	$30.9M+121.0%	-$147.4M+50.5%	-$297.7M+42.9%	-$521.1M-43.6%	-$363.0M-28.5%	-$282.4M
EPS (Diluted)	$1.83+117.9%	$-10.24+51.5%	$-21.11+44.1%	$-37.76+56.3%	$-86.43-937.6%	$-8.33

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Revenue	$387.8M+1.3%	$382.9M+9.6%	$349.4M+6.9%	$326.7M+13.0%	$289.2M+13.5%	$254.9M+30.9%	$194.8M+69.0%	$115.3M
Cost of Revenue	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Gross Profit	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
R&D Expenses	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
SG&A Expenses	$25.8M+9.3%	$23.6M+15.1%	$20.5M+22.0%	$16.8M-7.2%	$18.1M+5.8%	$17.1M-14.9%	$20.1M-4.3%	$21.0M
Operating Income	$300K-98.9%	$27.3M+15.2%	$23.7M-32.1%	$34.9M+818.4%	$3.8M-29.6%	$5.4M+143.9%	-$12.3M+63.8%	-$34.0M
Interest Expense	$5.3M0.0%	$5.3M0.0%	$5.3M-28.4%	$7.4M-36.2%	$11.6M0.0%	$11.6M-0.9%	$11.7M-0.8%	$11.8M
Income Tax	$400K	$0	$0	$0	$0	$0	$0	$0
Net Income	-$5.4M-124.5%	$22.0M+19.6%	$18.4M-16.7%	$22.1M+383.3%	-$7.8M-25.8%	-$6.2M+74.2%	-$24.0M+47.6%	-$45.8M
EPS (Diluted)	$-0.35-127.1%	$1.29+20.6%	$1.07-24.6%	$1.42+373.1%	$-0.52-23.8%	$-0.42+74.5%	$-1.65+47.8%	$-3.16

ROOT Balance Sheet

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Total Assets	$1.5B+11.0%	$1.3B+2.7%	$1.3B-0.5%	$1.3B-25.1%	$1.8B+141.9%	$728.6M
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$599.3M-11.7%	$678.7M-10.9%	$762.1M+7.9%	$706.0M-36.6%	$1.1B+184.1%	$391.7M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.2B+10.3%	$1.1B+15.8%	$923.8M+37.7%	$670.9M-8.1%	$729.9M-33.8%	$1.1B
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$200.1M-33.1%	$299.0M+1.2%	$295.4M	$0-100.0%	$188.2M-2.1%	$192.2M
Total Equity	$203.7M+22.9%	$165.7M-40.2%	$277.1M-48.3%	$536.4M-48.0%	$1.0B+375.8%	-$374.0M
Retained Earnings	-$1.7B+1.9%	-$1.7B-9.4%	-$1.6B-23.4%	-$1.3B-69.8%	-$748.0M-94.3%	-$385.0M

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Total Assets	$1.6B+3.4%	$1.6B+0.1%	$1.6B+6.0%	$1.5B0.0%	$1.5B+4.4%	$1.4B+6.3%	$1.3B+8.7%	$1.2B
Current Assets	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash & Equivalents	$653.3M+1.9%	$641.4M+5.3%	$609.4M+1.7%	$599.3M-10.2%	$667.2M+4.2%	$640.5M-5.6%	$678.7M+6.8%	$635.3M
Inventory	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Accounts Receivable	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Goodwill	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Total Liabilities	$1.3B+2.8%	$1.2B-1.1%	$1.2B+5.5%	$1.2B-4.3%	$1.2B+6.7%	$1.2B+7.9%	$1.1B+12.5%	$951.1M
Current Liabilities	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Long-Term Debt	$200.4M+0.1%	$200.1M+0.1%	$200.0M0.0%	$200.1M-33.3%	$300.1M+0.3%	$299.3M+0.1%	$299.0M+0.2%	$298.3M
Total Equity	$265.0M+8.4%	$244.5M+6.9%	$228.7M+12.3%	$203.7M+34.6%	$151.3M-8.7%	$165.7M0.0%	$165.7M-6.4%	$177.1M
Retained Earnings	-$1.6B-0.3%	-$1.6B+1.3%	-$1.7B+1.1%	-$1.7B+2.6%	-$1.7B-0.3%	-$1.7B-0.4%	-$1.7B-1.4%	-$1.7B

ROOT Cash Flow Statement

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Operating Cash Flow	$195.7M+682.4%	-$33.6M+84.0%	-$210.6M+47.8%	-$403.4M-40.5%	-$287.2M-125.8%	-$127.2M
Capital Expenditures	$400K+100.0%	$200K	$0-100.0%	$4.6M+155.6%	$1.8M-72.7%	$6.6M
Free Cash Flow	$195.3M+677.8%	-$33.8M+84.0%	-$210.6M+48.4%	-$408.0M-41.2%	-$289.0M-116.0%	-$133.8M
Investing Cash Flow	-$154.4M-237.9%	-$45.7M-175.3%	-$16.6M-121.6%	$76.9M+167.4%	-$114.1M-0.1%	-$114.0M
Financing Cash Flow	-$120.7M-2843.9%	-$4.1M-101.4%	$283.3M+452.8%	-$80.3M-107.3%	$1.1B+105.1%	$535.5M
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	$0	$0-100.0%	$200K	$0

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Operating Cash Flow	$57.6M+10.8%	$52.0M+94.0%	$26.8M-61.3%	$69.2M+10.5%	$62.6M+331.7%	$14.5M-68.5%	$46.1M+215.8%	$14.6M
Capital Expenditures	$0	$0	$0	$0-100.0%	$200K0.0%	$200K	$0	$0
Free Cash Flow	$57.6M+10.8%	$52.0M+94.0%	$26.8M-61.3%	$69.2M+10.9%	$62.4M+336.4%	$14.3M-69.0%	$46.1M+215.8%	$14.6M
Investing Cash Flow	-$41.6M-994.7%	-$3.8M+72.5%	-$13.8M+65.8%	-$40.3M-83.2%	-$22.0M+57.9%	-$52.3M-10560.0%	$500K+107.1%	-$7.0M
Financing Cash Flow	-$4.1M+74.7%	-$16.2M-478.6%	-$2.8M+97.3%	-$104.4M-651.1%	-$13.9M-3375.0%	-$400K+87.5%	-$3.2M-966.7%	-$300K
Dividends Paid	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Share Buybacks	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A

ROOT Financial Ratios

Metric	FY24	FY23	FY22	FY21	FY20	FY19
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	6.7%+28.9pp	-22.3%+62.4pp	-84.7%+55.8pp	-140.5%-58.2pp	-82.3%+7.4pp	-89.6%
Net Margin	2.6%+35.0pp	-32.4%+63.4pp	-95.8%+55.1pp	-150.9%-46.2pp	-104.7%-7.4pp	-97.3%
Return on Equity	15.2%	N/A	N/A	N/A	N/A	N/A
Return on Assets	2.1%+13.0pp	-10.9%+11.7pp	-22.7%+16.8pp	-39.5%-18.9pp	-20.6%+18.2pp	-38.8%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.98-0.8	1.80+0.7	1.07+1.1	0.00-0.2	0.18+0.7	-0.51
FCF Margin	16.6%+24.0pp	-7.4%+60.3pp	-67.8%+50.4pp	-118.1%-34.8pp	-83.3%-37.2pp	-46.1%

Metric	Q3'25	Q2'25	Q1'25	Q3'24	Q2'24	Q1'24	Q4'23	Q3'23
Gross Margin	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Operating Margin	0.1%-7.1pp	7.1%+0.4pp	6.8%-3.9pp	10.7%+9.4pp	1.3%-0.8pp	2.1%+8.4pp	-6.3%+23.2pp	-29.5%
Net Margin	-1.4%-7.1pp	5.8%+0.5pp	5.3%-1.5pp	6.8%+9.5pp	-2.7%-0.3pp	-2.4%+9.9pp	-12.3%+27.4pp	-39.7%
Return on Equity	N/A	9.0%+0.9pp	8.1%-2.8pp	10.8%	N/A	N/A	N/A	N/A
Return on Assets	-0.3%-1.7pp	1.4%+0.2pp	1.2%-0.3pp	1.5%+2.0pp	-0.5%-0.1pp	-0.4%+1.4pp	-1.8%+1.9pp	-3.7%
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Debt-to-Equity	0.76-0.1	0.82-0.1	0.87-0.1	0.98-1.0	1.98+0.2	1.810.0	1.80+0.1	1.68
FCF Margin	14.8%+1.3pp	13.6%+5.9pp	7.7%-13.5pp	21.2%-0.4pp	21.6%+16.0pp	5.6%-18.1pp	23.7%+11.0pp	12.7%

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Frequently Asked Questions

What is Root, Inc.'s annual revenue?

Root, Inc. (ROOT) reported $1.2B in total revenue for fiscal year 2024. This represents a 158.6% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Root, Inc.'s revenue growing?

Root, Inc. (ROOT) revenue grew by 158.6% year-over-year, from $455.0M to $1.2B in fiscal year 2024.

Is Root, Inc. profitable?

Yes, Root, Inc. (ROOT) reported a net income of $30.9M in fiscal year 2024, with a net profit margin of 2.6%.

What is Root, Inc.'s earnings per share (EPS)?

Root, Inc. (ROOT) reported diluted earnings per share of $1.83 for fiscal year 2024. This represents a 117.9% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

What is Root, Inc.'s EBITDA?

Root, Inc. (ROOT) had EBITDA of $93.4M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

How much debt does Root, Inc. have?

As of fiscal year 2024, Root, Inc. (ROOT) had $599.3M in cash and equivalents against $200.1M in long-term debt.

What is Root, Inc.'s operating margin?

Root, Inc. (ROOT) had an operating margin of 6.7% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

What is Root, Inc.'s net profit margin?

Root, Inc. (ROOT) had a net profit margin of 2.6% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

What is Root, Inc.'s return on equity (ROE)?

Root, Inc. (ROOT) has a return on equity of 15.2% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

What is Root, Inc.'s free cash flow?

Root, Inc. (ROOT) generated $195.3M in free cash flow during fiscal year 2024. This represents a 677.8% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

What is Root, Inc.'s operating cash flow?

Root, Inc. (ROOT) generated $195.7M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

What are Root, Inc.'s total assets?

Root, Inc. (ROOT) had $1.5B in total assets as of fiscal year 2024, including both current and long-term assets.

What are Root, Inc.'s capital expenditures?

Root, Inc. (ROOT) invested $400K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

What is Root, Inc.'s debt-to-equity ratio?

Root, Inc. (ROOT) had a debt-to-equity ratio of 0.98 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

What is Root, Inc.'s return on assets (ROA)?

Root, Inc. (ROOT) had a return on assets of 2.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

What is Root, Inc.'s Piotroski F-Score?

Root, Inc. (ROOT) has a Piotroski F-Score of 6 out of 9, indicating neutral financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Are Root, Inc.'s earnings high quality?

Root, Inc. (ROOT) has an earnings quality ratio of 6.33x, considered cash-backed (high quality). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Can Root, Inc. cover its interest payments?

Root, Inc. (ROOT) has an interest coverage ratio of 1.9x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.

How financially healthy is Root, Inc.?

Root, Inc. (ROOT) scores 70 out of 100 on our Financial Profile, indicating strong overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.