111, Inc.
Rank #199DeclineYI · Nasdaq · Healthcare
111, Inc. (YI) — Rank #199 by gross profitability (GP/assets 0.33) · ROE 9.5% · Piotroski F-Score 4 / 9.
As-of 2026-09-15 · 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
- Website
- corporate.111.com.cn
Price History
Company Snapshot
P/E, P/B, and dividend yield matter most — book value provides a floor.
Market Cap
$29.30M
P/E (annual)
—
P/S (annual)
0.0
P/B
—
P/OCF (annual)
0.2
Shareholder Yield
-1.3%
Employees
1,063
Industry
Medical Distribution
Exchange
Nasdaq
Signal Flags
Quality Profile
Profitability
1/1 passSafety
1/1 passCash Flow
3/3 passGrowth
1/2 passTerry Smith quality gate
Passes 0/5 Terry Smith thresholds2 of 5 thresholds not computable from filed data.
What Growth Is Priced In
Implied revenue growth (10Y)
-12.0%
The annual FCF growth rate today's price requires over a 10-year horizon (discount rate 10%, terminal growth 2.5%).
Dilution drag: 1.3% — per-share value needs a total required return of -10.7% once share-count change is priced in.
vs. own 6-year median revenue growth: 9.7%
within its own historyCost-of-equity sensitivity (implied growth at different discount rates)
r = 8%
-15.0%
r = 10% (base)
-12.0%
r = 12%
-9.3%
Net debt / market cap: -64.8%
Valuation History
Current multiple vs historical range at each filing date. Band spans 25th-75th percentile.
P / S
Price / revenue per share
P / GP
Price / gross profit per share
Asset value and restructuring potential (balance-sheet strength) are the primary reads at this stage.
Profitability
Gross profitability (GP / assets)
0.33
Primary signal (Novy-Marx).
13th of 14 SIC 59 peers
Return on equity
9.5%
Gross margin
5.8%
14th of 14 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.
Operating Leverage
| 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|
| 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)
—
Anti-fragile safety
Balance-sheet safety
Composite anti-fragile check.
Debt / equity
—
Current ratio
1.09×
13th of 14 SIC 59 peers
Quick ratio
0.42×
Net cash
$375.37M
Cash & equivalents minus total debt.
Cash-flow health
Free cash flow
$114.69M
Operating cash flow minus capex.
Positive free cash flow
FCF / net income
2.73
Cash-backing of earnings.
FCF/NI divergence
Unfavorable divergence (yellow flag).
Accruals healthy
Cash-backed earnings.
SBC / revenue
0.1%
Stock-based comp intensity.
Piotroski F-Score
F-Score
4 / 9
Fundamental-strength score (0-9).
Lifecycle Phase History
Lynch sell alert: Turnaround stalled
Classified decline for 2 consecutive fiscal years (2024-12-31, 2025-12-31) with no recovery to a healthier phase -- Lynch's turnaround rule: if it hasn't turned around by now, assume it isn't going to.