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111, Inc.

Rank #187DeclineWatchlistCompare with other stocks

YI · Nasdaq · Healthcare

111, Inc. (YI) — Rank #187 by gross profitability (GP/assets 0.33) · ROE 9.5% · Piotroski F-Score 4 / 9.

As-of 2026-10-30 · CIK 0001738906 · all metrics point-in-time as of the filing date.

About

111, Inc., together with its subsidiaries, operates an integrated online and offline platform in the healthcare market in the People's Republic of China.

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It operates through two segments, B2C and B2B. The company offers supply chain integration services that help pharmaceutical companies manage products through online and offline channels; product promotion, customer analytics, patient education, and brand awareness services; and marketing and channel data services. It also provides 1 Pharmacy online wholesale pharmacy that offers pharmaceutical and other health and wellness products; and 1 Medicine Marketplace online retail pharmacy that provides drugs, nutritional supplements, medical supplies and devices, personal care, and baby products. In addition, the company offers online loan application services; cloud-based inventory management services; smart procurement services, which collect pharmacies' historical purchase orders and inventory data; and Hawkeye automated salesforce tool, as well as online consultation, e-prescription, and data services. Further, its pharmacies provide drugs, including prescription and over-the-counter drugs comprising Western and Chinese medicines; nutritional supplements, such as vitamins and dietary products; contact lenses; medical supplies and devices that consists of bandages and thermometers; and personal care products that include skin care, birth control, sexual wellness, and baby products. Additionally, the company offers research and development, and consulting services; warehousing, procurement, and logistics services; and software development and information technology support services. It serves pharmacies, pharmaceutical companies, medical professionals, and marketplace sellers. The company was formerly known as New Peak Group and changed its name to 111, Inc. in April 2018. 111, Inc.

was founded in 2010 and is headquartered in Shanghai, the People's Republic of China.

Industry
Medical Distribution
Sector
Healthcare
State
E9
Filer Category
Non-accelerated filer
Fiscal Year End
December 31

Company Snapshot

P/E, P/B, and dividend yield matter most — book value provides a floor.

Market Cap

—

P/E (annual)

—

P/S (annual)

—

P/B

—

P/OCF (annual)

—

Shareholder Yield

—

Employees

1,063

Industry

Medical Distribution

Exchange

Nasdaq

10/12

Flags passed

YI fails 2 critical flags

Passes 10 of 12 quality flags

  • FAIL
    Revenue declining YoY

    Revenue contracted year over year

  • FAIL
    Operating margin declining

    Operating margin lower than prior year

  • PASS
    Gross margin holding
  • PASS
    Dilution within 2%
  • PASS
    FCF not negative from investment
  • PASS
    Disclosure consistent
  • PASS
    Free cash flow intact
  • PASS
    Passes safety gate
  • PASS
    Balance sheet stable
  • PASS
    No competitive retreat
  • PASS
    SBC not compressing margin
  • PASS
    No valuation convergence

A count of the 12 warning flags that could be evaluated. Unweighted: colour follows the worst flag.

Quality Profile

Profitability

1/1 pass
GP / assets
0.33
Return on equity
9.5%
Gross margin trend
PASS

Safety

1/1 pass
Balance-sheet safety
PASS
Debt / equity
—
Current ratio
1.09×
Net cash
$375.37M

Cash Flow

3/3 pass
Positive FCF
PASS
Cash-backed earnings
PASS
Accruals healthy
PASS
SBC / revenue
0.1%

Growth

1/2 pass
Revenue growth
-12.8%
Piotroski F-Score
4 / 9
Share dilution
1.3%

Asset value and restructuring potential (balance-sheet strength) are the primary reads at this stage.

Profitability

Does it make money well?

Warning: Operating margin declining, Revenue declining YoY · GP/assets 0.33

Gross profitability (GP / assets)

0.33

Primary signal (Novy-Marx).

10th of 11 SIC 59 peers

Return on equity

9.5%

Gross margin

5.8%

11th of 11 SIC 59 peers

Revenue growth (YoY)

-12.8%

RPO growth (YoY)

-27.2%

Remaining performance obligations growth — RPO > revenue = forward demand building.

Gross margin improving

Margin trend vs prior year.

PASS

Operating Leverage

2022202320242025
Revenue vs COGS
Revenue vs OpEx
Op. Income vs Revenue

Growth

Revenue CAGR (3Y)

-2.4%

Revenue CAGR (5Y)

8.9%

Earnings CAGR (3Y)

—

FCF CAGR (3Y)

—

Cash Flow Health

Is the cash real?

No warning flags · FCF 273% above net income

Free cash flow

$114.69M

Operating cash flow minus capex.

Positive free cash flow

PASS

FCF vs net income

272.7%

(FCF − net income) ÷ |net income|. Positive: cash above earnings. Negative: below.

FCF not below net income

Fails when free cash flow is below net income (yellow flag).

PASS

Accruals healthy

Cash-backed earnings.

PASS

SBC / revenue

0.1%

Stock-based comp intensity.

Balance Sheet Strength

Can it survive a storm?

No warning flags · net cash $375.37M, F-Score 4/9

Balance-sheet safety

Composite anti-fragile check.

PASS

Debt / equity

—

Current ratio

1.09×

10th of 11 SIC 59 peers

Quick ratio

0.42×

Net cash

$375.37M

Cash & equivalents minus total debt.

Piotroski F-Score

4 / 9

Fundamental-strength score (0-9).

Valuation

Is the price reasonable?

No warning flags

Capital allocation quality

Composite score

2.7 / 5

Fair
Share count trend
1.3%2/5 Fair
Buyback timing
N/AN/A
Dividend growth consistency(non-payer or broken streak)
0 yr3/5 Good
Net debt trajectory(deleveraging)
1.0%3/5 Good

Lifecycle Phase History

20202025
Hypergrowth
Startup
Decline

Price History

YI-48.2% · -12.3% CAGRSPY+82.9% · +12.8% CAGR

View full financial statements →

Source filings on SEC EDGAR: 10-K annual reports · 10-Q quarterly reports