Company Valuation: 111, Inc.

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 3,737 1,843 1,735 923.2 389.5 155.2
Change - -50.69% -5.87% -46.78% -57.8% -60.16%
Enterprise Value (EV) 1 2,577 1,537 1,350 906.2 164.2 -195.2
Change - -40.37% -12.15% -32.87% -81.88% -218.86%
P/E -8.19x -2.75x -4.16x -2.36x -6.03x -2.35x
PBR 10.5x -10.7x -4.2x -1.61x -0.61x -0.22x
PEG - -0.1x 0.1x 0.34x 0.1x -1.87x
Capitalization / Revenue 0.46x 0.15x 0.13x 0.06x 0.03x 0.01x
EV / Revenue 0.31x 0.12x 0.1x 0.06x 0.01x -0.02x
EV / EBITDA -5.61x -2.5x -4.09x -2.76x 8.6x -20.6x
EV / EBIT -5.44x -2.39x -3.64x -2.59x 77.7x 82.1x
EV / FCF 124x -3.24x 12.7x -12x 2.9x -0.85x
FCF Yield 0.81% -30.9% 7.85% -8.36% 34.5% -117%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -55.41 -80.76 -50.04 -46.58 -7.535 -7.63
Distribution rate - - - - - -
Net sales 1 8,203 12,426 13,517 14,948 14,401 12,556
EBITDA 1 -459.3 -614.9 -330.2 -328.3 19.08 9.463
EBIT 1 -473.3 -642.1 -371 -350.1 2.114 -2.377
Net income 1 -456.5 -669.8 -416.9 -392.7 -64.74 -66.39
Net Debt 1 -1,160 -306 -384.6 -16.98 -225.4 -350.4
Reference price 2 453.74 222.34 208.30 109.91 45.47 17.91
Nbr of stocks (in thousands) 8,236 8,287 8,327 8,399 8,566 8,667
Announcement Date 4/30/21 4/29/22 4/28/23 5/14/24 4/29/25 4/30/26
1CNY in Million2CNY
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 31.93M
20.2x1.42x9.8x0.95% 262B
142.51x10.38x56.23x-.--% 161B
8.97x0.72x3.23x-.--% 120B
45.43x2.04x19.93x-.--% 91.96B
-39.28x0.87x57.86x-.--% 65.88B
24.68x4.4x14.38x1.11% 49.75B
17.46x4.55x11.02x - 25.56B
5.39x0.21x2.21x4.12% 6.96B
33.68x4.46x19.93x-.--% 6.4B
Average 28.78x 3.23x 21.62x 0.77% 78.93B
Weighted average by Cap. 41.55x 3.47x 23.80x 0.43%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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