• Applied Materials average quick ratio for 2023 was 1.6, a 4.58% increase from 2022.
• Applied Materials average quick ratio for 2022 was 1.53, a 28.84% increase from 2021.
• Applied Materials average quick ratio for 2021 was 2.15, a 13.76% decline from 2020.

Quick ratio can be defined as a liquidity ratio that measures a company's ability to pay short-term obligations. It is calculated by subtracting inventory from current assets and dividing by current liabilities.