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111, Inc. (YI) stock

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NASDAQ: YI Nasdaq Health Care Distributors

C Fundamentals grade

111, Inc. is a US-listed company in the health care distributors industry. Its financial year ends in December.

Stock price today

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Third-party market data · may be delayed

Fair value per share

Under review: free cash flow after stock pay is not positive.

Price vs value

Under review: free cash flow after stock pay is not positive. We'll show the comparison once resolved.

111, Inc. valuation: adjust assumptions and compare models →

Who’s trading

What company insiders, investment funds and members of Congress have been doing with the stock, from their own filings.

  • Insiders0 buying, 3 selling0 purchases and 36 sales by directors and officers, last 12 monthsInsider trades
  • Funds3 adding, 3 cuttingOf 2 active managers that changed their stake, 1 added; quarter to June 30, 2026Fund buyers and sellers

Value diary

Our note on each quarter 111 files

Where 111 stands after its latest Filing

Revenue for the twelve months was $1.75bn, down 12.7% on a year earlier, a steeper fall than the 5.3% decline a quarter earlier. Free-cash-flow margin rose to 0.9% from -6.0% a year earlier. Operating margin widened to -0.0% from -5.2%. Against its peers on growth, profitability, cash generation and balance sheet, it grades C. It passes 2 of our 3 financial-health checks.

Our model value for 111 is under review, so past values are not shown until it is resolved.

Written from the company's filings and our models when each quarter's report arrives. Figures in older notes are as published at the time. Not investment advice.

The Fundamentalytics view

111, Inc.'s trailing-twelve-month revenue fell 12.7% year on year, with a free-cash-flow margin of 0.9%. Where it stands out: days sales outstanding of 8 days ranks 1 of 5 health care distributors companies we cover. Where it lags: revenue growth of -12.7% ranks 5 of 6 health care distributors companies we cover.

Current signal Free cash flow diverging from earnings: TTM free cash flow fell 53.7% while net income fell 2.7%: a 51pp divergence.

Assembled from SEC-filed figures — the full workings are on this page and in our methodology. Observations, not recommendations.

Highlights

How we pick these

Strengths

Nothing in 111, Inc.'s latest figures clears our strength thresholds.

Things to watch

  • Revenue shrinking. Revenue fell 12.7% over the last 12 months.
  • Growth slowing. The growth rate is 7.5 points lower than a quarter earlier.
  • Loss-making. Operating margin is -0.0%: costs exceed revenue.

Price chart

  • 1 day+2.5%
  • 1 week-2.7%

Closing prices to 2026-11-02. Price change only, dividends excluded.

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Third-party market data · may be delayed

At a glance

Trailing twelve months, from SEC filings

Profitability

Revenue (TTM)
$1.7B
Operating margin
-0.0%
Net margin
-0.5%
EPS (TTM, diluted)
$-1.06

Growth

Revenue growth
−12.7%
Change in growth rate
−7.5 pts
Share count change
+1.3%

Cash

Free cash flow (TTM)
$16M
FCF margin
0.9%
Stock pay % of revenue
0.1%

News & updates

Updated November 2, 2026

Company announcements, filed results and changes that matter to shareholders.

No recent updates are available for YI from the sources we follow. See filings →

Refreshed hourly when new source data is available. Summaries are checked against company releases and SEC filings. Company announcement headlines are labelled when a checked summary is unavailable.

Valuation

111, Inc. valuation models and calculator

Fundamentalytics rating

model v1.6 · 2026-11-03

Not rated: free cash flow after stock pay is not positive.

The inputs used by the models below have passed source checks. Individual model values are available below and in the interactive valuator. Their differences are shown explicitly; the platform combined value and recommendation remain withheld.

Valuation models

We value 111, Inc. as an operating company, with every model that fits that kind of business. Cost of equity 7.6%: the 10-year Treasury yield (4.9%) plus a beta of 0.58 times a 4.5% equity risk premium.

Value per share by model
Model Value per share In the combined value?
Revenue-to-maturity model Revenue grown to maturity with the cash margin moving to the industry's; for companies not yet profitable. ~$220 ~$220–$270 Left out: out of range vs price (75.32x)
Price-to-earnings vs peers Earnings per share times peers' typical (harmonic-mean) price-to-earnings. — Does not apply: This model is withheld pending its input or assumption review.
Residual income Book value plus the present value of returns above the cost of equity, fading over ten years. — Does not apply: This model is withheld pending its input or assumption review.
Justified price-to-book Book value times (return on equity - growth) / (cost of equity - growth): steady-state returns. — Does not apply: This model is withheld pending its input or assumption review.
Price-to-sales vs peers Sales per share times peers' typical price-to-sales; used only when earnings are negative. ~$75 ~$58–$140 Left out: out of range vs price (25.61x)
Combined value Individual source-checked model scenarios are available. The platform combined value and recommendation remain withheld. — Combined value withheld. Review the individual models and their assumptions.

Different models fail in different ways, so where several apply we average them rather than trust one. Peer-based models compare 111, Inc. with Health Care Distributors in our coverage, using third-party market data. Model values are estimates under stated assumptions, updated as new filings arrive; not price targets or investment advice. How each model works.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Medium.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Forecasts and guidance

Analysts' consensus

No analyst estimates are published for 111, Inc.: too few analysts cover it.

Positioning

Short interest
0.1%
of tradable shares
Days to cover
0.27
at average volume
Short interest, 1 month
−60%
to October 15, 2026
Held by institutions
1%
of shares
Held by insiders
28.6%
of shares
Employees
1,063
full time

Consensus figures average analysts' published estimates (third-party data); guidance is the company's own. Neither is our forecast. Short interest is reported twice a month and lags. Market data may be delayed.

This section is general information, not investment advice or a personal recommendation, and it does not take account of your objectives or circumstances. Forecasts and guidance are estimates, not promises: companies miss their own guidance and analysts' figures are often revised. Prices can fall as well as rise, and you can lose money. See our disclaimer.

Share-price performance

Market data may be delayed

Recent prices are available. Older price history and the statistics that need it are being loaded in the background.

Price behaviour

52-week range
Not enough history
From 52-week high
—
vs 50-day average
—
vs 200-day average
—
Volatility (1 year)
—
Beta vs S&P 500
—

Volatility is the annualised standard deviation of daily returns. Beta 1.5 means the shares typically moved 1.5% for each 1% move in the S&P 500 over the past year. Prices to November 2, 2026.

111, Inc. in five measures

Fundamentals grade C
Growth Profitability Cash Balance sheet

Growth, profitability, cash generation and balance sheet are percentiles against the companies we cover in the same industry, from SEC filings (100 = best). Value compares the share price with our modelled value range (50 = at our base value; higher = cheaper). A description of reported data and our model — not a quality score or advice.

Fundamentals

Revenue (TTM) 111, Inc.
$0 $1B $2B $3B FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Revenue (TTM), FY16 Q4: $131.7M Revenue (TTM), FY17 Q4: $142.1M Revenue (TTM), FY18 Q4: $270.6M Revenue (TTM), FY19 Q4: $572.4M Revenue (TTM), FY20 Q4: $1.2B Revenue (TTM), FY21 Q4: $1.9B Revenue (TTM), FY22 Q4: $2B Revenue (TTM), FY23 Q4: $2.1B Revenue (TTM), FY24 Q4: $2B Revenue (TTM), FY25 Q4: $1.7B $1.7B

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue (TTM)
FY16 Q4 $131.7M
FY17 Q4 $142.1M
FY18 Q4 $270.6M
FY19 Q4 $572.4M
FY20 Q4 $1.2B
FY21 Q4 $1.9B
FY22 Q4 $2B
FY23 Q4 $2.1B
FY24 Q4 $2B
FY25 Q4 $1.7B
Revenue growth, TTM YoY 111, Inc.
-50% 0% 50% 100% 150% FY17 Q4 FY19 Q4 FY21 Q4 FY23 Q4 FY25 Q4 Revenue growth, TTM YoY, FY17 Q4: 7.9% Revenue growth, TTM YoY, FY18 Q4: 90.5% Revenue growth, TTM YoY, FY19 Q4: 111.5% Revenue growth, TTM YoY, FY20 Q4: 107.7% Revenue growth, TTM YoY, FY21 Q4: 62.0% Revenue growth, TTM YoY, FY22 Q4: 4.5% Revenue growth, TTM YoY, FY23 Q4: 5.0% Revenue growth, TTM YoY, FY24 Q4: -5.3% Revenue growth, TTM YoY, FY25 Q4: -12.7% -12.7%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Revenue growth, TTM YoY
FY17 Q4 7.9%
FY18 Q4 90.5%
FY19 Q4 111.5%
FY20 Q4 107.7%
FY21 Q4 62.0%
FY22 Q4 4.5%
FY23 Q4 5.0%
FY24 Q4 -5.3%
FY25 Q4 -12.7%
Operating margin (TTM) 111, Inc.
-60% -40% -20% 0% 20% FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 Operating margin (TTM), FY16 Q4: -41.7% Operating margin (TTM), FY17 Q4: -26.5% Operating margin (TTM), FY18 Q4: -22.4% Operating margin (TTM), FY19 Q4: -12.5% Operating margin (TTM), FY20 Q4: -5.8% Operating margin (TTM), FY21 Q4: -5.2% Operating margin (TTM), FY22 Q4: -2.7% Operating margin (TTM), FY23 Q4: -2.3% Operating margin (TTM), FY24 Q4: 0.0% Operating margin (TTM), FY25 Q4: -0.0% -0.0%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period Operating margin (TTM)
FY16 Q4 -41.7%
FY17 Q4 -26.5%
FY18 Q4 -22.4%
FY19 Q4 -12.5%
FY20 Q4 -5.8%
FY21 Q4 -5.2%
FY22 Q4 -2.7%
FY23 Q4 -2.3%
FY24 Q4 0.0%
FY25 Q4 -0.0%
FCF margin (TTM) 111, Inc.
-60% -40% -20% 0% 20% FY16 Q4 FY18 Q4 FY20 Q4 FY22 Q4 FY25 Q4 FCF margin (TTM), FY16 Q4: -45.1% FCF margin (TTM), FY17 Q4: -22.0% FCF margin (TTM), FY18 Q4: -20.0% FCF margin (TTM), FY19 Q4: -13.5% FCF margin (TTM), FY20 Q4: -1.7% FCF margin (TTM), FY21 Q4: -6.0% FCF margin (TTM), FY22 Q4: -0.4% FCF margin (TTM), FY23 Q4: -3.1% FCF margin (TTM), FY24 Q4: 1.7% FCF margin (TTM), FY25 Q4: 0.9% 0.9%

Source: SEC EDGAR filings. Retrieved Invalid Date.

View chart data
Period FCF margin (TTM)
FY16 Q4 -45.1%
FY17 Q4 -22.0%
FY18 Q4 -20.0%
FY19 Q4 -13.5%
FY20 Q4 -1.7%
FY21 Q4 -6.0%
FY22 Q4 -0.4%
FY23 Q4 -3.1%
FY24 Q4 1.7%
FY25 Q4 0.9%

Data: SEC EDGAR XBRL company facts (as filed in 10-K/10-Q); forms 20-F, 20-F/A. Generated November 3, 2026. Definitions in our methodology.

Financial statements

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year 2016 Dec 2016 2017 Dec 2017 2018 Dec 2018 2019 Dec 2019 2020 Dec 2020 2021 Dec 2021 2022 Dec 2022 2023 Dec 2023 2024 Dec 2024 2025 Dec 2025
Income
Revenue 132 142 271 572 1,189 1,926 2,013 2,113 2,002 1,747
Gross profit 11 12 16 24 53 96 125 120 115 101
EBITDA −53 −35 −59 −70 −67 −95 −49 −46 3 1
Operating income −55 −38 −61 −71 −69 −100 −55 −49 0 −0
Net income −55 −37 −58 −72 −66 −104 −62 −55 −9 −9
Diluted EPS — −$10.22 −$11.58 −$8.83 −$8.03 −$12.53 −$7.45 −$6.59 −$1.06 −$1.06
Growth (year on year)
Revenue — +7.9% +90.5% +111.5% +107.7% +62.0% +4.5% +5.0% −5.3% −12.7%
Margins
Gross margin 8.5% 8.4% 5.8% 4.2% 4.5% 5.0% 6.2% 5.7% 5.8% 5.8%
EBITDA margin −40.3% −24.9% −21.8% −12.2% −5.6% −4.9% −2.4% −2.2% 0.1% 0.1%
Operating margin −41.7% −26.5% −22.4% −12.5% −5.8% −5.2% −2.7% −2.3% 0.0% −0.0%
Net margin −41.6% −26.0% −21.4% −12.6% −5.6% −5.4% −3.1% −2.6% −0.4% −0.5%
Free-cash-flow margin −45.1% −22.0% −20.0% −13.5% −1.7% −6.0% −0.4% −3.1% 1.7% 0.9%
Cash flow
Cash from operations −59 −30 −52 −74 −17 −107 −3 −63 37 17
Capital spending 1 1 2 3 4 10 5 1 2 1
Free cash flow −59 −31 −54 −77 −21 −116 −8 −65 34 16
Stock-based pay 1 1 8 8 11 23 24 32 3 1
Free cash flow after stock pay −60 −33 −62 −85 −32 −139 −32 −97 32 15
Balance sheet
Cash 54 26 124 83 182 104 98 85 63 73
Total debt 0 0 — 14 35 41 26 48 22 27
Net debt (negative = net cash) −54 −26 −124 −70 −147 −63 −72 −37 −41 −46
Diluted shares 4m 4m 5m 8m 8m 8m 8m 8m 9m 9m
Returned to shareholders
Buybacks — — — 3 2 1 — — — —
Total returned — — — 3 2 1 — — — —

Source: SEC EDGAR XBRL company facts (US and foreign periodic filings); column headings link to the filing. EBITDA is operating income plus depreciation and amortisation. Free cash flow is cash from operations minus capital spending. Growth is left blank when last year's figure was a loss or under 2% of revenue. Share counts and EPS are restated for stock splits. A dash means the company didn't report the figure.

Financial health

2 of 3 checks passed · December 31, 2025
What it owns · $315m
Short-term assets $304mLonger-term assets $11m
What it owes, and who funded it · $284m
Short-term liabilities $279mLonger-term liabilities $5mShareholders' equity $-100m
  • Short-term assets cover short-term liabilities $304m of assets due within a year against $279m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $304m short-term assets against $5m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of −$330,753 against $5m of interest.

From 111, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Dividends, buybacks and capital spending

Diluted share count
+1.3%
year over year
Days sales outstanding
8 days
receivables vs revenue

Competitors: side by side with peers

Closest by revenue in health care distributors
Last 12 months unless stated YI HSIC COSM HKPD COR MCK Median
Revenue, last 12 months $1.7bn $13.6bn $74m $13m $332.8bn $411.0bn $7.7bn
Revenue growth, last 12 months −12.7% 6.5% 33.8% −33.9% 5.1% 8.8% 5.8%
Revenue growth, 3-year average — 2.6% 14.8% — 9.4% 13.1% 11.2%
Revenue growth, latest quarter — 6.7% 28.8% — 5.1% 7.7% 7.2%
Gross margin 5.8% 31.3% 10.3% 10.3% 4.0% 3.6% 8.0%
Operating margin −0.0% 5.0% −24.9% −17.8% 0.9% 1.6% 0.4%
Operating margin, 3-year average −10.6% 4.8% −29.5% — 0.9% 1.3% 0.9%
Net margin −0.5% 3.0% −33.1% −8.5% 0.8% 1.1% 0.1%
Cash from operations / revenue 0.9% 5.1% −13.3% −5.6% 1.4% 1.7% 1.2%
Free-cash-flow margin 0.9% 4.2% −13.5% −5.9% 1.2% 1.6% 1.1%
Free-cash-flow margin, 3-year average −9.0% 3.8% −12.4% — 1.0% 1.4% 1.0%
Stock pay / revenue 0.1% 0.3% 2.3% — 0.0% 0.1% 0.1%
Change in share count 1.3% −6.1% 79.3% 60.2% −0.5% −3.4% 0.4%

Median of all 6 companies we cover in health care distributors. Shaded: best of the six on that line (lowest for stock pay and share-count growth). 3-year figures average the last three 12-month periods; 3-year growth is compound annual. Source: SEC filings.

Peer comparison

6 health care distributors companies
Measure Company Peer median Rank
Revenue growth Growth -12.7% 6.5% 5 of 6
Change in growth rate Growth -7.5pp -0.9pp 5 of 6
Gross margin Profitability 5.8% 10.3% 4 of 6
Operating margin Profitability -0.0% 0.9% 4 of 6
Net margin Profitability -0.5% 0.8% 4 of 6
Free-cash-flow margin Cash generation 0.9% 1.2% 4 of 6
Stock pay as % of revenue Cash generation 0.1% 0.1% 3 of 5
Change in share count Balance sheet 1.3% 1.3% 4 of 6
Days sales outstanding Balance sheet 8 days 47 days 1 of 5

Rank 1 = best in the group (for spending, debt and dilution, lower ranks first).

Who owns it

Funds buying and selling
Reported value
$139,655
Institutions reporting
7
Shares held vs prior quarter
▲ 135.7%
Positions opened / closed
1 / 1

Top buyers and sellers, Q2 2026: 3 institutions bought and 3 sold ; the biggest buyer was Citadel Advisors LLC (+17K shares) and the biggest seller Citigroup Inc (−207). See which funds bought and sold →

Largest reported holders, June 30, 2026
Manager Value Shares Share of 13F value Shares QoQ
Citadel Advisors LLC $75,251 17K 53.9% New
Renaissance Technologies LLC $56,047 13K 40.1% ▼ 0.8%
UBS Group AG $6,931 2K 5.0% ▲ 1497.0%
Sbi Securities Co., Ltd. $647 0K 0.5% ▲ 3.5%
Morgan Stanley $490 0K 0.4% 0.0%
Jpmorgan Chase & Co $194 0K 0.1% ▼ 9.6%
Rhumbline Advisers $95 0K 0.1% 0.0%

From Form 13F filings with the SEC ( quarterly data sets), as reported by each manager for June 30, 2026 and filed up to 45 days later. 13F reports cover long US-listed positions of managers above $100M only, so this is not 111, Inc.'s complete shareholder register. Values are as reported by the filers ; 2 inconsistently scaled filing rows were excluded.

Insider trading activity

Full insider history and chart
Insider purchases History → $0 0 trades by 0 insiders, last 12 months Insider sales History → $369,140 36 trades by 3 insiders · 0% under pre-set plans
Net ▼ $369,140 net selling
Insider Date Trade Shares Price Value
Chen Yang Luke Director September 28, 2026 Sell 38,120 $0.18 $6,862
Chen Yang Luke Director September 23, 2026 Sell 44,000 $0.18 $7,920
Chen Yang Luke Director September 23, 2026 Sell 44,000 $0.18 $7,920
Chen Yang Luke Director June 15, 2026 Sell 44,000 $0.23 $10,120
Chen Yang Luke Director June 15, 2026 Sell 44,000 $0.23 $10,120
Sun Jian David Director June 15, 2026 Sell 58,800 $0.23 $13,524
Chen Yang Luke Director June 15, 2026 Sell 44,000 $0.23 $10,120
Chen Yang Luke Director June 12, 2026 Sell 49,920 $0.23 $11,482
Chen Yang Luke Director June 12, 2026 Sell 49,920 $0.23 $11,482
Chen Yang Luke Director June 12, 2026 Sell 49,920 $0.23 $11,482
Sun Jian David Director June 11, 2026 Sell 111,100 $0.23 $25,553
Sun Jian David Director June 11, 2026 Sell 111,100 $0.23 $25,553

From insiders' Form 4 filings with the SEC. Excludes awards, option exercises and shares withheld for tax. "Pre-set plan" means the filing marks the trade as made under a Rule 10b5-1 plan. See every insider trade since five years ago, on a price chart.

Earnings dates and SEC filings

Results announcements

Recent SEC filings

Data status

When each part of this page on 111, Inc. was last updated.

DataLast updatedSource
Share priceExchange closing prices
News and updatesCompany releases and SEC 8-K filings
Analyst estimatesAggregated analyst estimates
Valuation and scoresOur models, from the filed figures

How we build and check these figures: methodology and data sources.

111, Inc. in brief

What does 111, Inc. do?
111, Inc. is a US-listed company in the health care distributors industry. Its financial year ends in December.
What is 111, Inc.'s stock ticker?
111, Inc. trades under the ticker YI on Nasdaq. This page brings together its financial statements, valuation models, ownership and recent company updates.
What is 111, Inc.'s revenue, and how fast is it growing?
Over its most recent trailing twelve months, 111, Inc. reported revenue of $1.7B, 12.7% lower than a year earlier, according to its SEC filings.
What is 111, Inc.'s free cash flow?
111, Inc.'s free-cash-flow margin is 0.9% of revenue over the trailing twelve months, ranking 4 of the 6 health care distributors companies we cover.
Who are 111, Inc.'s largest institutional shareholders?
By value reported in 13F filings for June 30, 2026, the largest reported holders are Citadel Advisors LLC, Renaissance Technologies LLC and UBS Group AG. 13F reports cover long US-listed positions of managers above $100M, filed up to 45 days after quarter end.
Who are 111, Inc.'s competitors?
In our Health Care Distributors peer group, the companies closest to 111, Inc. are Henry Schein, Cosmos Health Inc., Cellyan Biotechnology Co., Ltd, Cencora and McKesson. The side-by-side comparison below sets their revenue, margins and growth against 111, Inc.'s.
Are insiders buying or selling 111, Inc. stock?
Over the last 12 months, 111, Inc.'s directors and officers reported 0 open-market purchases and 36 sales on Form 4. The insider trading page charts every trade.